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The global ventricular assist device market exhibited strong growth during 2015-2020. A ventricular assist device (VAD), also known as a mechanical circulatory support device, is a mechanical pump that transports blood from the lower chambers of the heart to the rest of the body. It generally comprises three components, which include tubes, an electronic controller and a power source. The tubes carry blood into the pump and transfer it into blood vessels, while the power source is connected to a control unit for monitoring the functions of the VAD. The device is implanted in patients as a short-term treatment for supporting heart functions after surgery or while they are waiting for a heart transplant. It finds application in the bridge-to-transplant (BTT), bridge-to-recovery (BTR), bridge-to-candidacy (BTC) and destination therapies.
The increasing cases of cardiovascular diseases, such as hypertension, ventricular septal defect, heart failure and stroke, represents one of the significant factors propelling the global VAD market growth. Moreover, the limited number of heart donors is escalating the demand for VADs across the globe. In order to overcome this shortage, healthcare providers are focusing on the utilization of VADs to keep the blood pumping until a new heart is implanted. This helps in reducing the in?hospital mortality rate, length of stay and overall hospital costs. Furthermore, the leading manufacturers in the industry are incorporating technological advancements, such as miniature devices with infection control technology, to address complications, such as the high risk of infection, thrombus formation and blood trauma. Apart from this, several clinical trials are being undertaken to improve the survival rate by enhancing the durability, functionality and efficiency of the devices. Looking forward, IMARC Group expects the global ventricular assist device market to grow at a CAGR of around 10% during 2021-2026.
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The report has also analysed the competitive landscape of the market with some of the key players being Abbott Laboratories, Abiomed Inc., Berlin Heart GmbH (Syscore GmbH), Bivacor Inc., Calon Cardio, Cardiacassist Inc. (LivaNova PLC), CHF Solutions Inc., Jarvik Heart Inc., MAQUET GmbH (Getinge), Medtronic Inc., Syncardia Systems LLC (Versa Capital Management LLC), TandemLife (LivaNova PLC), Terumo Corporation, etc.
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