Ventricular Assist Device Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Ventricular Assist Device Market is segmented by Type of Ventricular Device (Left Ventricular Assist Device (LVAD), Right Ventricular Assist Device (RVAD), Biventricular Assist Device (BIVAD)), Application (Bridge-to-transplant (BTT) therapy, Destination therapy, and Other Therapies), and Geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America). The report offers the value (in USD million) for the above segments.

Market Snapshot

Ventricular Assist Device Market Summary
Study Period: 2019-2027
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 7.23 %
Ventricular Assist Device Market Major Players

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Market Overview

The Ventricular Assist Devices Market is poised to grow at a CAGR of 7.23% during the forecast period (2022-2027).

COVID-19 is expected to have a significant impact on the growth of the market. According to the article titled ' Implantation of Durable VAD during COVID-19: An Epicenter Experience' published in 2021 new technological advances and creativity from the team allowed for the successful implantation of urgent Destination Therapy-Ventricular Assist Devices during the COVID-19 pandemic. Hence, the onset of the pandemic allowed various modifications to the existing process which are needed to accommodate a safe and comprehensive ventricular assist device plan. Thus, the ventricular assist device market is significantly impacted by COVID-19.

The major factors attributing to the growth of the ventricular assist device market are technological advancement of devices for cardiac disease management, growing initiatives and awareness regarding cardiovascular diseases, and the increasing burden of cardiac diseases and heart failure. According to the World Health Organization 2021, an estimated 17.9 million people die due to cardiovascular diseases worldwide, each year. This represents 35% of global deaths. Additionally, 85% of these cardiovascular disease deaths are due to heart attack and stroke. ​In addition, according to the article published in Cureus Journal of Medical Science in July 2020, ischemic heart disease (IHD) is a leading cause of death worldwide. Ischemic heart disease affects around 126 million individuals (1,655 per 100,000) globally, which is approximately 1.72% of the world’s population. The global prevalence of ischemic heart disease is expected to exceed 1,845 per 100,000 by the year 2030.

VAD implantations are lifesaving equipment for patients with severe heart failure. They are useful in minimizing the symptoms of heart failure, thus helping patients to resume their daily activities. Coronary heart diseases associated with hypertension are a very common cause of chronic heart failure. Apart from that, other cardiac conditions, such as ischaemic and dilated cardiomyopathies, also require a significant level of surgical interventions. For all patient cases requiring advanced heart failure-related therapy, heart transplantation is a long-term successful procedure.

However, due to less availability of organs, the waiting time is more than six months. Such cases require the immediate assistance of VAD, which acts as a bridge to transplantation. Here, the demand for, and availability of, VAD plays a critical role, and thus, the growing burden of cardiac diseases and heart failure is a major force in propelling the VAD market at the global level. However, there are also risks involved in the VAD implant, hence these risks are showing an impact on the market growth.

Scope of the Report

As per the scope, ventricular assist devices (VAD) are highly important for patients with weakened hearts or heart failures. They are used to temporarily maintain the heart function, until the heart recovers, or before the heart transplant. In some chronic heart conditions, they are used as permanent support therapy, as they are mechanical pumps that are surgically implanted in the heart to pump blood into the whole body. The Ventricular Assist Device Market is segmented by Type of Ventricular Device (Left Ventricular Assist Device (LVAD), Right Ventricular Assist Device (RVAD), Biventricular Assist Device (BIVAD)), Application (Bridge-to-transplant (BTT) therapy, Destination therapy, and Other Therapies), and Geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.

By Type of Ventricular Device
Left Ventricular Assist Device (LVAD)
Right Ventricular Assist Device (RVAD)
Biventricular Assist Device (BIVAD)
By Application
Bridge-to-transplant (BTT) Therapy
Destination Therapy
Other Therapies
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 & Africa
GCC
South Africa
Rest of Middle East & Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Left Ventricular Assist Device (LVAD) is Expected to Hold the Major Share in the Type of Ventricular Device Segment

LVAD is implanted during an open heart surgery, where it receives blood from the left ventricle and delivers it to the aorta. It works along with the patient’s own heart. It is mostly given as a treatment option for patients with end-stage heart failure. There are a number of international hospitals and research centers that widely used VAD programs over the past two decades, particularly in the developed markets, as well as for help with new investigational devices.

Abbott (Thoratec), Berlin Heart, and Medtronic are among the top players in this segment that are well established in the developed market. Moreover, new product launches and continuous government support are projected to boost segment growth. For instance, in February 2020, Abbott received Breakthrough Device designation from the U.S. Food and Drug Administration (FDA) for its in-development Fully Implantable Left Ventricular Assist System (FILVAS).

Furthermore, with the increased utilization of durable mechanical support devices, it is important for all emergency departments of hospitals to have a well-written protocol to provide optimal care for patients with VADs.

Ventricular Assist Device Market - Projection of Cardiovascular Diseases (%) in the United States , 2010-2030

North America Dominates the Market and Expected to do Same in the Forecast Period

North America is expected to dominate the overall market, throughout the forecast period. The presence of high per capita healthcare expenditure, coupled with the rising prevalence of cardiac diseases, is expected to propel the high growth of the ventricular assist device in the North American region. In the North American region, the United States holds the largest share. This is due to the presence of a large population with heart disease. In the United States, cardiovascular diseases and hypertension cases account for a major share of the people that require surgery.

According to the Center for Disease Control and Prevention in 2021, about 600,000 Americans die of heart disease annually. This represents almost 25% of all U.S. deaths. To raise awareness of this disease, February has been recognized as “American Heart Month” . Thus, the growing burden of heart failure and growing initiatives and awareness regarding cardiovascular diseases

A large number of cardiac considerations and systemic considerations are taken into account, as there are several factors associated with preoperative, perioperative, and postoperative complications. Additionally, according to the American Heart Association, statistics published in January 2021, the prevalence of Cardiovascular Diseases in adults above 20 years of age was 49.2% overall and increases with age in both males and females. The prevalence of cardiac diseases generates a need for cardiovascular devices monitoring and diagnostic devices. ​The global high burden of cardiac diseases and heart failures has been one of the major factors for the growing demand and growth of the segment over the period.

Ventricular Assist Device Market - Growth Rate by Region

Competitive Landscape

The ventricular assist device market is moderately competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. With the rising geriatric population and high prevalence of diseases, few other smaller players are expected to enter into the market in the coming years. Some of the major players of the market are Abiomed Inc., BiVACOR Inc, Abbott Laboratories (St. Jude Medical Inc.), Medtronic PLC, and Terumo Corporation, among others.

Major Players

  1. Abiomed Inc.

  2. BiVACOR Inc.

  3. Abbott Laboratories (St. Jude Medical Inc.)

  4. Medtronic PLC

  5. Terumo Corporation

Ventricular Assist Device Market Concentration

Recent Development

  • In January 2022, the School of Medical Research and Technology (SMRT) of IIT Kanpur has launched Hridyantra, a challenge-based program to develop an advanced artificial heart also called Left Ventricular Assist device (LVAD) for patients with end-stage heart failure.
  • In June 2021, Abbott announced the company has the capacity and supply to effectively support the growing demand for mechanical circulatory support (MCS) devices for the effective treatment of advanced heart failure following Medtronic's decision to stop the global distribution and sale of the Medtronic HeartWare ventricular assist device (HVAD).

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 Growing Burden of Cardiac Diseases and Heart Failure

      2. 4.2.2 Technological Advancement of Devices for Cardiac Diseases Management

      3. 4.2.3 Growing Initiatives and Awareness Regarding Cardiovascular Diseases

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost of Devices and Procedures

      2. 4.3.2 Several Risks Associated to VAD Implant

    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 (Market Size by Value – USD million)

    1. 5.1 By Type of Ventricular Device

      1. 5.1.1 Left Ventricular Assist Device (LVAD)

      2. 5.1.2 Right Ventricular Assist Device (RVAD)

      3. 5.1.3 Biventricular Assist Device (BIVAD)

    2. 5.2 By Application

      1. 5.2.1 Bridge-to-transplant (BTT) Therapy

      2. 5.2.2 Destination Therapy

      3. 5.2.3 Other Therapies

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle East & Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle East & Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Abiomed Inc.

      2. 6.1.2 BiVACOR Inc.

      3. 6.1.3 Abbott Laboratories (St. Jude Medical Inc.)

      4. 6.1.4 Berlin Heart GmbH

      5. 6.1.5 Calon Cardio

      6. 6.1.6 Jarvik Heart Inc.

      7. 6.1.7 Medtronic PLC

      8. 6.1.8 SynCardia Systems LLC

      9. 6.1.9 Terumo Corporation

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

**Competitive Landscape Covers- Business Overview, Financials, Products and Strategies, and Recent Developments
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Frequently Asked Questions

The Global Ventricular Assist Device Market market is studied from 2019 - 2027.

The Global Ventricular Assist Device Market is growing at a CAGR of 7.23% over the next 5 years.

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

North America holds highest share in 2021.

Abiomed Inc., BiVACOR Inc., Abbott Laboratories (St. Jude Medical Inc.), Medtronic PLC, Terumo Corporation are the major companies operating in Global Ventricular Assist Device Market.

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