Market Overview:
The global ventricular assist device market is expected to grow at a CAGR of 7.5% from 2018 to 2030. The growth in the market can be attributed to the increasing prevalence of heart failure, technological advancements in ventricular assist devices, and rising number of organ transplants. The global ventricular assist device market is segmented by type into LVADs, RVADs, and BIVADs. The LVAD segment is expected to dominate the market during the forecast period owing to its high adoption rate for bridge-to-transplant and destination therapy applications. By application, the bridge-to-transplant (BTT) segment is expected to account for a majority share of the global ventricular assist device market during the forecast period owing to its high adoption rate for patients with end-stage heart failure who are awaiting a heart transplant surgery. However, due to increasing incidence of obesity and diabetes mellitus across regions such as North America and Europe, there has been an increase in demand for destination therapy (DT) applications which are currently dominated by RVAD devices.
Product Definition:
A Ventricular Assist Device (VAD) is a device that helps pump blood from the left ventricle of your heart to the rest of your body. VADs are used to support heart function in people who have weakened hearts and are at risk for cardiac arrest.
LVADs:
Lung Volumetric assist device (LVAD) is a mechanical device that aids in increasing the capacity of lungs to provide more oxygen to body tissues. It works by expanding and contracting the lung tissue which increases or decreases the volume of air movement within a patient’s chest. The amount of pressure provided by LVAD can be regulated as per requirement which makes it an effective therapy for patients suffering from cardiopulmonary failure.
RVADs:
RVADs are right ventricular assist devices that are used to help the heart pump blood around the body. RVADs consist of a pump, which is connected by tubing to an oxygen reservoir. The device works along with the right side of the heart and provides support during pumping functions when it is not able to do so itself due to a lack of oxygen or other problems.
The global RVAD market was valued at USD 661 million in 2016.
Application Insights:
The bridge-to-transplant segment held the largest share of over 50.0% in 2017. This is attributed to growing awareness about end-stage heart failure and rising number of BTT candidates across the globe. As per Global Burden of Disease, a study conducted in 2018, there are 642,000 people suffering from end-stage heart failure across the globe and out of which only 39% received any kind of cardiac assist device treatment during 2016 - 2017 period. Thus it can be presumed that majority of LVAD patients would benefit from transplantation if such devices were available earlier as part double or single pump function with their own transplants at present such procedures are carried out using mechanical ventilators only thus making them inaccessible to most patients due to cost barrier imposed by medical insurance companies or government funding bodies for instance National Health Service (NHS) in U.K.
Regional Analysis:
North America dominated the global market in 2017. The presence of well-developed healthcare infrastructure, favorable government initiatives, and high awareness levels among individuals are some of the major factors responsible for its continued dominance over the forecast period. Moreover, increasing demand for heart transplantation owing to growing number of patients suffering from heart failure is expected to drive growth during the forecast period.
The Asia Pacific region is anticipated to witness lucrative growth over the next eight years owing to rising geriatric population and improving economic conditions in emerging countries such as China and India. Furthermore, increasing medical tourism due to availability of advanced treatments at affordable costs will also boost demand during this period. For instance, according to a study published by National Bureau Of Statistics Of China In 2015-2016 (Year), around 9 million tourists visited India on medical visas which accounted for 22% increase compared with 6 million tourists who came on tourist visas that year.
Growth Factors:
- Increasing incidence of cardiovascular diseases: The global Ventricular Assist Device market is expected to grow at a CAGR of 7.5% during the forecast period, owing to the increasing incidence of cardiovascular diseases (CVDs) across the globe. According to World Health Organization (WHO), CVDs are responsible for approximately 17 million deaths every year and this number is estimated to reach 23 million by 2030. This will create a high demand for Ventricular Assist Devices in the coming years.
- Technological advancements: The Ventricular Assist Device market is witnessing rapid technological advancements, which is resulting in innovative products with enhanced features being launched in the market. This is helping manufacturers expand their product offerings and gain a larger share in the market. For instance, In October 2017, Abbott announced that it had received CE Mark approval for its HeartMate 3 left ventricular assist device (LVAD), which was designed with advanced features such as reduced size and weight, longer battery life and intelligent pump control algorithm that helps optimize heart function while reducing power consumption by up to 50%. Such technological advancements are expected to fuel growth of the Ventricular Assist Device market during the forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
Ventricular Assist Device Market Research Report
By Type
LVADs, RVADs, BIVADs
By Application
Bridge-to-transplant (BTT), Destination Therapy (DT), Other
By Companies
AbioMed, Abbott (Thoratec), Medtronic (HeartWare), Berlin Heart
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
242
Number of Tables & Figures
170
Customization Available
Yes, the report can be customized as per your need.
Global Ventricular Assist Device Market Report Segments:
The global Ventricular Assist Device market is segmented on the basis of:
Types
LVADs, RVADs, BIVADs
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Bridge-to-transplant (BTT), Destination Therapy (DT), Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- AbioMed
- Abbott (Thoratec)
- Medtronic (HeartWare)
- Berlin Heart
Highlights of The Ventricular Assist Device Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- LVADs
- RVADs
- BIVADs
- By Application:
- Bridge-to-transplant (BTT)
- Destination Therapy (DT)
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Ventricular Assist Device Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
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- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A ventricular assist device (VAD) is a medical device that helps to improve the heart's ability to pump blood. VADs are used in people who have heart failure or an irregular heartbeat.
Some of the key players operating in the ventricular assist device market are AbioMed, Abbott (Thoratec), Medtronic (HeartWare), Berlin Heart.
The ventricular assist device market is expected to grow at a compound annual growth rate of 7.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Ventricular Assist Device Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Ventricular Assist Device Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Ventricular Assist Device Market - Supply Chain
4.5. Global Ventricular Assist Device Market Forecast
4.5.1. Ventricular Assist Device Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Ventricular Assist Device Market Size (000 Units) and Y-o-Y Growth
4.5.3. Ventricular Assist Device Market Absolute $ Opportunity
5. Global Ventricular Assist Device Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Ventricular Assist Device Market Size and Volume Forecast by Type
5.3.1. LVADs
5.3.2. RVADs
5.3.3. BIVADs
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Ventricular Assist Device Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Ventricular Assist Device Market Size and Volume Forecast by Application
6.3.1. Bridge-to-transplant (BTT)
6.3.2. Destination Therapy (DT)
6.3.3. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Ventricular Assist Device Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Ventricular Assist Device Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Ventricular Assist Device Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Ventricular Assist Device Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Ventricular Assist Device Demand Share Forecast, 2019-2026
9. North America Ventricular Assist Device Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Ventricular Assist Device Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Ventricular Assist Device Market Size and Volume Forecast by Application
9.4.1. Bridge-to-transplant (BTT)
9.4.2. Destination Therapy (DT)
9.4.3. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Ventricular Assist Device Market Size and Volume Forecast by Type
9.7.1. LVADs
9.7.2. RVADs
9.7.3. BIVADs
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Ventricular Assist Device Demand Share Forecast, 2019-2026
10. Latin America Ventricular Assist Device Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Ventricular Assist Device Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Ventricular Assist Device Market Size and Volume Forecast by Application
10.4.1. Bridge-to-transplant (BTT)
10.4.2. Destination Therapy (DT)
10.4.3. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Ventricular Assist Device Market Size and Volume Forecast by Type
10.7.1. LVADs
10.7.2. RVADs
10.7.3. BIVADs
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Ventricular Assist Device Demand Share Forecast, 2019-2026
11. Europe Ventricular Assist Device Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Ventricular Assist Device Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Ventricular Assist Device Market Size and Volume Forecast by Application
11.4.1. Bridge-to-transplant (BTT)
11.4.2. Destination Therapy (DT)
11.4.3. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Ventricular Assist Device Market Size and Volume Forecast by Type
11.7.1. LVADs
11.7.2. RVADs
11.7.3. BIVADs
11.8. Basis Point Share (BPS) Aalysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Ventricular Assist Device Demand Share, 2019-2026
12. Asia Pacific Ventricular Assist Device Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Ventricular Assist Device Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Ventricular Assist Device Market Size and Volume Forecast by Application
12.4.1. Bridge-to-transplant (BTT)
12.4.2. Destination Therapy (DT)
12.4.3. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Ventricular Assist Device Market Size and Volume Forecast by Type
12.7.1. LVADs
12.7.2. RVADs
12.7.3. BIVADs
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Ventricular Assist Device Demand Share, 2019-2026
13. Middle East & Africa Ventricular Assist Device Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Ventricular Assist Device Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Ventricular Assist Device Market Size and Volume Forecast by Application
13.4.1. Bridge-to-transplant (BTT)
13.4.2. Destination Therapy (DT)
13.4.3. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Ventricular Assist Device Market Size and Volume Forecast by Type
13.7.1. LVADs
13.7.2. RVADs
13.7.3. BIVADs
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Ventricular Assist Device Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Ventricular Assist Device Market: Market Share Analysis
14.2. Ventricular Assist Device Distributors and Customers
14.3. Ventricular Assist Device Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. AbioMed
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Abbott (Thoratec)
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Medtronic (HeartWare)
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Berlin Heart
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. COMPANY5
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. COMPANY6
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. COMPANY7
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. COMPANY8
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. COMPANY9
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
