Cardiac Assist Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Product (Intra-aortic Balloon Pump, Total Artificial Heart, and Ventricular Assist Device), and Geography

Market Snapshot

Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: >7.5 %

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Market Overview

The demand for cardiac assist devices has increased in the last few years, as these devices help in the continuous flow of blood to the heart and require no mechanical bearings. It also acts as a bridge in transplant, are available in miniature sizes, and are the life-line support for heart patients, assisting them in in recovering from or while waiting for a heart transplant. In March 2015, the US FDA approved the Impella 2.5 System, which helps the patients in maintaining a stable heart function and circulation, during certain high-risk percutaneous coronary intervention (HRPCI) procedures. The variety of reliable ventricular assist devices (VAD) has increased, as technology has advanced, promising better treatment options for patients. In addition, the government support has also increased the funding for research and development initiatives in advanced medical treatment options, placing utmost concern to the safety of patients.

Other factors such as rising geriatric population and increasing heart diseases prevalence are expected to drive the market in the forecast period.

Scope of the Report

As per the scope of the report, the assist devices are defined as a type of mechanical pump that works along with the heart to improve the pumping efficiency and maintain optimum blood flow throughout the body. Cardiac-assist devices are used to treat end-stage heart failure and are determined by the needs of the individual.

By Product
Intra-aortic Balloon Pump
Total Artificial Heart
Ventricular Assist Device
Left Ventricular Assist Device
Right Ventricular Assist Device
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Total Artificial Heart Segment is Expected to Show Better Growth in the Forecast Years

Based on product, it is segmented into Intra-aortic Balloon Pump, Total Artificial Heart, and Ventricular Assist Device. Heart transplantation is the most effective treatment for end-stage heart failures. Globally, there has been an increase in the demand for donor organs. According to the United States Department of Health and Human Services, there were approximately 17,553 donors in 2018. Moreover, there has been an exponential rise in the demand for artificial hearts in the market. It is estimated that nearly 4,000 individuals wait for a donor's heart daily in the United States alone. The total artificial heart is considered a long-term solution for patients suffering from advanced heart failure issues. There are currently, many different types of artificial hearts in the market that are being used: SynCardia temporary total artificial heart and Abiocar artificial heart. Thus, the availability of these products is expected to drive the market, globally.

Cardiac Assist Devices Market 1

North America Dominates the Cardiac Assist Devices Market

North America region is among the major contributor in this market due to the advancements in technology, and the increasing burden of heart diseases. According to the Centers for Disease Control and Prevention (CDC), about 647,000 Americans die from heart disease each year. The increasing number of individuals with heart diseases leads to a higher demand. Over 30% of global LVAD implants are being performed in the United States, and the number of implants is increasing year by year. Hence, the high adoption rate for these devices is expected to increase the cardiac assist devices market significantly during the forecast.

Cardiac Assist Devices Market 2

Competitive Landscape

The global players in the cardiac assist devices market are – Abbott Laboratories, Abiomed Inc., Berlin Heart GmbH, BiVACOR Inc., Braile Biomedica Ltd, Getinge AB, Jarvik Heart Inc., Medtronic PLC, SynCardia Systems, LLC, and Teleflex Incorporated.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Heart Disease Prevalence

      2. 4.2.2 Rising Geriatric Population

      3. 4.2.3 Technological Advancement

    3. 4.3 Market Restraints

      1. 4.3.1 Availability of Alternative Treatments like Pacemakers

      2. 4.3.2 Risk Associated with Device Implantation

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product

      1. 5.1.1 Intra-aortic Balloon Pump

      2. 5.1.2 Total Artificial Heart

      3. 5.1.3 Ventricular Assist Device

        1. 5.1.3.1 Left Ventricular Assist Device

        2. 5.1.3.2 Right Ventricular Assist Device

    2. 5.2 Geography

      1. 5.2.1 North America

        1. 5.2.1.1 United States

        2. 5.2.1.2 Canada

        3. 5.2.1.3 Mexico

      2. 5.2.2 Europe

        1. 5.2.2.1 Germany

        2. 5.2.2.2 United Kingdom

        3. 5.2.2.3 France

        4. 5.2.2.4 Italy

        5. 5.2.2.5 Spain

        6. 5.2.2.6 Rest of Europe

      3. 5.2.3 Asia-Pacific

        1. 5.2.3.1 China

        2. 5.2.3.2 Japan

        3. 5.2.3.3 India

        4. 5.2.3.4 Australia

        5. 5.2.3.5 South Korea

        6. 5.2.3.6 Rest of Asia-Pacific

      4. 5.2.4 Middle-East and Africa

        1. 5.2.4.1 GCC

        2. 5.2.4.2 South Africa

        3. 5.2.4.3 Rest of Middle-East and Africa

      5. 5.2.5 South America

        1. 5.2.5.1 Brazil

        2. 5.2.5.2 Argentina

        3. 5.2.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Abbott Laboratories

      2. 6.1.2 Abiomed Inc.

      3. 6.1.3 Berlin Heart GmbH

      4. 6.1.4 BiVACOR Inc.

      5. 6.1.5 Braile Biomedica Ltd

      6. 6.1.6 Getinge AB

      7. 6.1.7 Jarvik Heart Inc.

      8. 6.1.8 Medtronic PLC

      9. 6.1.9 SynCardia Systems, LLC

      10. 6.1.10 Teleflex Incorporated

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Cardiac Assist Devices Market market is studied from 2018 - 2026.

The Cardiac Assist Devices Market is growing at a CAGR of >7.5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Abbott Laboratories, BiVACOR Inc., Getinge AB, Medtronic PLC, Teleflex Incorporated are the major companies operating in Cardiac Assist Devices Market.

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