Global Ventricular Assist Devices Market Forecast up to 2025

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[84 pages report] This market research report identifies Medtronic plc, Abbott Laboratories, Reliant Heart, Inc., Jarvik Heart, Inc., and Berlin Heart GmbH as the major vendors operating in the global ventricular assist devices market. This report also provides a detailed analysis of the market by product (Left Ventricular Assist Devices [LVAD], Right Ventricular Assist Devices [RVAD], and Biventricular Assist Devices [BIVAD]), by design (Transcutaneous Ventricular Assist Devices and Implantable Ventricular Assist Devices), by application (Bridge-to-Transplant [BTT] Therapy, Destination Therapy, Bridge-to-Recovery [BTR] Therapy, and Bridge-to-Candidacy [BTC] Therapy), and by regions (North America, Europe, Asia Pacific and Rest of the World).

Overview of the Global Ventricular Assist Devices Market Research

Infoholic’s market research report predicts that the global ventricular assist devices market will grow at a CAGR of 13.8% during the forecast period. The market has witnessed steady growth in the past few years and development in technology with the introduction of innovative products have increased the acceptance of heart assist devices in the market. The market is fueled by increase in the incidence of heart failure, lack of heart donors for transplantation, and increasing elderly population.

Global Ventricular Assist Devices Market

The market continues to grow and is one of the most widely used devices for the functioning of heart in cardiac failure and weakened heart patients. The market is getting revolutionized with the advancement in technology. Vendors are focusing towards new product launches, product approvals, and targeting towards end-user’s perspective. The market generates the revenue from the key players operating in this field and some of vendors are Medtronic plc, Reliant Heart Inc., Abbott Laboratories, Berlin Heart GmbH, Jarvik Heart, Inc., and ABIOMED, Inc.

According to Infoholic Research analysis, North America accounted for the largest share of the global ventricular assist devices market in 2018 and will retain high position during the forecast period. According to American Heart Association, an estimated 92.1 million population in the US have at least one type of CVD and by 2030 it is projected that 43.9% of the US adult population to have some form of CVD. Favorable reimbursement policies, availability of advanced technologies, and growing cardiovascular diseases will increase the adoption and demand of the devices in this region. The Asia Pacific is expected to grow during the forecast period, owing to factors such as high prevalence of cardiovascular diseases, increasing healthcare expenditure, and presence of huge population base.

Ventricular Assist Devices Market By Product

  • Left Ventricular Assist Devices (LVAD)
  • Right Ventricular Assist Devices (RVAD)
  • Biventricular Assist Devices (BIVAD)

In 2018, the left ventricular assist devices segment occupied the largest share and is expected to grow at high CAGR during the forecast period. Increasing number of patients suffering from last-stage heart failure, advancement in technology such as effectiveness, high survival rate, and decreased risk of the devices makes the segment the most common among other VAD devices.

Ventricular Assist Devices Market By Design

  • Transcutaneous Ventricular Assist Devices
  • Implantable Ventricular Assist Devices

In 2018, the implantable ventricular assist devices segment occupied the largest share and is expected to grow at high CAGR during the forecast period.

Ventricular Assist Devices Market By Application

  • Bridge-to-Transplant (BTT) Therapy
  • Destination Therapy
  • Bridge-to-Recovery (BTR) Therapy
  • Bridge-to-Candidacy (BTC) Therapy

By application, the bridge-to-recovery (BTR) therapy generated the maximum revenue, thus accounting for more than 35% of the global ventricular assist devices market in 2018 and the segment is expected to grow at high CAGR during the forecast period. The destination therapy segment is expected to be the second highest growing segment during the forecast period.

Ventricular Assist Devices Market By Regions

  • North America
  • Europe
  • APAC
  • ROW

The market is dominated by North America, followed by Europe and Asia Pacific. US occupied the major share of the North American market due to the increasing disease prevalence and availability of advanced technologies.

Ventricular Assist Devices Market Research Competitive Analysis

The global ventricular assist devices market has massive growth opportunities in both developed and developing regions. The advancement and upgradation of devices will increase the competition among vendors. Many vendors are focusing on product approvals and developing innovative products to strengthen their product portfolio that intensifies the market competition. In October 2018, FDA approved HeartMate 3 left ventricular assist device developed by Abbott, as a destination therapy for patients with advanced heart failure. The approval device supported by the Momentum 3 trial showed a survival rate of 82.8% at two years with rates of suspected pump thrombosis at only 1.1%. Health Canada issued a Class IV License with conditions to HeartMate 3 left ventricular assist system developed by Thoratec Corporation in 2018. In 2018, Calon Cardio-Technology has launched a clinical trial of the UK’s first artificial heart pump. In addition, other leading players are focusing in huge investments on research and development activities to develop new products to attain maximum share in the market.

Key vendors

  • Medtronic plc
  • Abbott Laboratories
  • ReliantHeart Inc.
  • Berlin Heart GmbH
  • Jarvik Heart, Inc.
  • ABIOMED, Inc.
  • BiVACOR
  • Calon Cardio-Technology Ltd.
  • LivaNova PLC
  • Evaheart Medical USA, Inc. (Asahi Kasei Corp.)
  • Fresenius Medical Care AG & Co. KGaA (XENIOS AG)
  • Maquet GmbH (Getinge AB)

Key competitive facts

  • The market is highly competitive with all the players competing to gain market shares. Intense competition, rapid advancements in technology, frequent changes in government policies, and the prices are key factors that confront the market.
  • The requirement of high initial investment, implementation, and maintenance cost in the market are also limiting the entry of new players.

Benefits

The report provides complete details about the usage and adoption rate of ventricular assist devices. Thus, the key stakeholders can know about the major trends, drivers, investments, vertical player’s initiatives, and government initiatives towards the medical devices segment in the upcoming years along with details of the pureplay companies entering the market. Moreover, the report provides details about the major challenges that are going to impact the market growth. Additionally, the report gives complete details about the key business opportunities to key stakeholders in order to expand their business and capture the revenue in specific verticals, and to analyze before investing or expanding the business in this market.

Key Takeaways

  • Understanding the potential market opportunity with precise market size and forecast data
  • Detailed market analysis focusing on the growth of ventricular assist devices industry
  • Factors influencing the growth of ventricular assist devices market
  • In-depth competitive analysis of dominant and pureplay vendors
  • Prediction analysis of ventricular assist devices industry in both developed and developing regions
  • Key insights related to major segments of the ventricular assist devices market
  • Latest market trend analysis impacting the buying behavior of the consumers

Key Stakeholders –

Ventricular Assist Devices Market

1    Industry Outlook  

1.1        Industry Overview

1.1.1     Geography

1.1.2     Medical Technologies

1.1.3     Industry Trends

1.2        Total Addressable Market

2     Report Outline 

2.1        Report Scope

2.2        Report Summary

2.3        Research Methodology

2.4        Report Assumptions

3     Market Snapshot 

3.1        Market Definition – Infoholic Research

3.2        Device Benefits

3.3        Segmented Addressable Market (SAM)

3.4        Trends in the Ventricular Assist Devices Market

3.5        Related Markets

3.5.1     Stents

3.5.2     Interventional Cardiology

3.5.3     Angioplasty

4     Market Outlook 

4.1        Regulatory Status

4.2        Reimbursement

4.3        Market Segmentation

4.4        PEST Analysis

4.5        Porter 5(Five) Forces

5     Market Characteristics 

5.1        DRO – Global Ventricular Assist Devices Market Dynamics

5.1.1     Drivers

5.1.1.1 Upsurge in the incidence of cardiovascular disease (CVD)

5.1.1.2 Growing geriatric population

5.1.1.3 Dearth of heart donors across the globe

5.1.2     Opportunities

5.1.2.1 Increased approvals, fun ding, and pipeline products

5.1.2.2 Upsurge in healthcare spending and demand for better treatment in emerging economies

5.1.3     Restraints

5.1.3.1 High cost of the devices

5.1.3.2 Strict regulatory policies

5.2        DRO – Impact Analysis

5.3        Key Stakeholders

6     Product: Market Size and Analysis 

6.1        Overview

6.2        Left Ventricular Assist Devices

6.3        Right Ventricular Assist Devices

6.4        Biventricular Assist Devices

7     Design: Market Size and Analysis 

7.1        Overview

7.2        Transcutaneous Ventricular Assist Devices

7.3        Implantable Ventricular Assist Devices

8     Applications: Market Size and Analysis 

8.1        Overview

8.2        Bridge-to-Transplant (BTT) Therapy

8.3        Destination Therapy

8.4        Bridge-to-Recovery (BTR) Therapy

8.5        Bridge-to-Candidacy (BTC) Therapy

9     Regions: Market Size and Analysis 

9.1        Overview

9.2        North America

9.3        Europe

9.4        Asia Pacific

9.5        Rest of the World

10  Competitive Landscape 

10.1     Overview

11  Vendor Profiles 

11.1     Medtronic plc

11.1.1  Overview

11.1.2  Business Units

11.1.3  Geographic Presence

11.1.4  Business Focus

11.1.5  SWOT Analysis

11.1.6  Business Strategies

11.2     Abbott Laboratories

11.2.1  Overview

11.2.2  Business Units

11.2.3  Geographic Presence

11.2.4  Business Focus

11.2.5  SWOT Analysis

11.2.6  Business Strategies

11.3     Reliant Heart Inc.

11.3.1  Overview

11.3.2  Business Focus

11.3.3  SWOT Analysis

11.3.4  Business Strategies

11.4     Jarvik Heart, Inc.

11.4.1  Overview

11.4.2  Business Focus

11.4.3  SWOT Analysis

11.4.4  Business Strategies

11.5     Berlin Heart GmbH

11.5.1  Overview

11.5.2  Business Focus

11.5.3  SWOT Analysis

11.5.4  Business Strategies

12  Companies to Watch For 

12.1     BiVACOR

12.1.1  Overview

12.2     ABIOMED, Inc.

12.2.1  Overview

12.2.2  ABIOMED, Inc.: Recent Developments

12.3     Calon Cardio-Technology Ltd.

12.3.1  Overview

12.3.2  Calon Cardio-Technology Ltd.: Recent Developments

12.4     Maquet GmbH (Getinge AB)

12.4.1  Overview

12.4.2  Maquet GmbH (Getinge AB): Recent Developments

12.5     LivaNova PLC

12.5.1  Overview

12.5.2  LivaNova PLC: Recent Developments

12.6     Evaheart Medical USA, Inc. (Asahi Kasei Corp.)

12.6.1  Overview

12.6.2  Evaheart Medical USA, Inc.: Recent Developments

12.7     Fresenius Medical Care AG & Co. KGaA (XENIOS AG)

12.7.1  Overview

12.7.2  Fresenius Medical Care AG & Co. KGaA (XENIOS AG): Recent Developments

13  Annexure 

13.1      Abbreviations

Infoholic research works on a holistic 360° approach in order to deliver high quality, validated and reliable information in our market reports. The Market estimation and forecasting involves following steps:

  • Data Collation (Primary & Secondary)
  • In-house Estimation (Based on proprietary data bases and Models)
  • Market Triangulation
  • Forecasting

infoholic Research Methodology

Market related information is congregated from both primary and secondary sources.

Primary sources involved participants from all global stakeholders such as Solution providers, service providers, Industry associations, thought leaders etc. across levels such as CXOs, VPs and managers. Plus, our in-house industry experts having decades of industry experience contribute their consulting and advisory services.

Secondary sources include public sources such as regulatory frameworks, government IT spending, government demographic indicators, industry association statistics, and company publications along with paid sources such as Factiva, OneSource, Bloomberg among others.