According to the latest report by IMARC Group, titled “Ventricular Assist Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global ventricular assist devices market size reached US$ 1.6 Billion in 2019. Also known as a mechanical circulatory support device, a ventricular assist device (VAD) is an implantable mechanical pump utilized to support heart function and blood flow among patients with a weak heart or those suffering from heart failure. It is implanted as short-term treatment after surgery or while patients are waiting for a heart transplant. It assists in pumping blood from the lower chambers of the heart to the rest of the body. It generally includes tubes, an electronic controller and a power source. It is employed in destination therapies, bridge-to-transplant (BTT), bridge-to-recovery (BTR) and bridge-to-candidacy (BTC).
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Ventricular Assist Devices Market Trends:
Heart transplantation is an optimal surgical therapy utilized for end?stage heart failure (HF). It is increasingly becoming limited on account of the shortage of suitable heart donors and the widening gap between donors and recipients. This represents one of the significant factors propelling the global ventricular assist devices market growth. Apart from this, the rising prevalence of cardiovascular disorders (CVDs), such as hypertension, ventricular septal defect, heart failure and stroke, due to stressful and sedentary lifestyles and increasing consumption of fast food, is also strengthening the market growth. Furthermore, the leading manufacturers are using advanced technologies to develop miniature devices designed with infection control, which is anticipated to impel the market growth in the coming years. Looking forward, the market value is projected to reach US$ 2.8 Billion by 2025, expanding at a CAGR of 9.80% during the forecast period (2020-2025).
- Based on the product, the market has been segmented into left ventricular assist device (LVAD), right ventricular assist device (RVAD), biventricular assist device (BiVAD) and others.
- On the basis of the flow type, the market has been bifurcated into a pulsatile and non-pulsatile or continuous flow.
- The market has been analyzed on the basis of the product type into implantable and non-implantable ventricular assist devices.
- Based on the application, the market has been segregated into bridge-to-transplant (BTT) therapy, destination therapy, and bridge to recovery and bridge to candidacy.
- On the basis of the end user, the market has been divided into ambulatory surgery centers, hospitals and others.
- Region-wise, the market has been classified into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia and others); Latin America (Brazil, Mexico and others); and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Abbott Laboratories (ABT), Abiomed, Inc., Berlin Heart GmbH (Syscore GmbH), BiVACOR, Inc., Calon Cardio Technology Limited, Cardiacassist Inc. (LivaNova PLC), CHF Solutions, Inc., Jarvik Heart, Inc., MAQUET GmbH (Getinge Group), Medtronic Plc, Syncardia Systems LLC (Versa Capital Management LLC), TandemLife (LivaNova Plc) and Terumo Corporation.
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