The global ventricular assist device market size is expected to reach USD 4.1 billion by 2027, according to a new report by Grand View Research, Inc., registering a CAGR of 11.7% over the forecast period. Increase in prevalence of cardiovascular diseases such as congenital heart diseases, heart failure, hypertension, ventricular septal defect, and stroke due to rise in adoption of unhealthy lifestyle habits such as physical inactivity, smoking, and alcohol consumption drives the demand for ventricular assist devices (VADs). Increase in global geriatric population, along with their susceptibility to cardiovascular diseases, is a major factor driving the market growth. According to estimates published by the United Nations in 2012, the global geriatric population was nearly 809.4 million and is expected to witness a twofold increase by 2050 with an estimated population of over 2,000 million. Geriatric population has a high risk of various cardiovascular diseases and a majority of them are expected to suffer from heart failure or stroke.
Moreover,
the use of VADs as a bridge to transplant is gaining immense popularity due to
improvements in device technology and reduction of VAD-associated
complications. For instance, the United Kingdom National Health Service (UK
NHS) financed a bridge-to-transplant (BTT) program in which left ventricular
assist devices (LVADs) such as HeartMate II and HeartWare are used for treating
patients.
According
to data published by the CDC in 2015, nearly 1.0% newborns have congenital
heart defect (CHD) in U.S. and of those 25.0% of the infants have critical CHD.
Furthermore, it is estimated that approximately 1,755 infants with critical
CHDs remain undiagnosed. The demand for VADs is primarily driven by the
increasing prevalence of CHD, especially cyanotic CHD in adult population. The
increasing patient pool for cardiovascular disorders, coupled with growing
demand for mechanical assist devices, is expected to drive the demand for VADs
over the forecast period. However, high costs of these products, limited
insurance coverage, and strict regulatory framework for their approval are some
of the barriers limiting market growth.
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Ventricular Assist
Device Market Report Highlights
- Left ventricular assist
devices emerged as the largest product segment in 2019 with a share of
76.9% in the global ventricular assist device market. This is attributed
to the increasing demand for LVADs in bridge-to-transplantation for
patients suffering from end-stage heart failure
- On the basis of type of
flow, continuous flow accounted for the largest share in 2019, and is
further projected to register the highest CAGR over the forecast period as
these devices require low maintenance and replacement
- Implantable VAD emerged as
the leading design type segment in 2019 owing to the increasing preference
for long-term treatment methods
- Destination therapy is
expected to register a significant growth rate over the forecast period
owing to the increasing instances of cardiovascular diseases
- North America dominated the
global VAD market in 2019 owing to the presence of majority of the global
obese population, which is one of the key factors leading to the rise in
cardiovascular diseases
- Key operating players such as
Abiomed; Abbott; Medtronic; Cardiac Assist, Inc.; Berlin Heart; and
ReliantHeart focus on developing advanced VADs. For instance, in October
2018, Abbott received U.S. FDA approval for Heartmate 3 - LVAD. This pump
would help heart failure patients to avoid open heart surgery
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Ventricular Assist
Device Market Segmentation
Grand View Research has segmented
the global ventricular assist device market on the basis of product, type of
flow, design, application, and region:
Ventricular Assist
Devices Product Outlook (Revenue, USD Million, 2016 - 2027)
- Left Ventricular Assist
Device (LVAD)
- Right Ventricular Assist
Device (RVAD)
- Biventricular Assist Device
(BiVAD)
- Total Artificial Heart (TAH)
Ventricular Assist
Devices Type of Flow Outlook (Revenue, USD Million, 2016 - 2027)
- Pulsatile Flow
- Non-pulsatile or Continuous
Flow
Ventricular Assist
Devices Design Outlook (Revenue, USD Million, 2016 - 2027)
- Implantable
- Transcutaneous
Ventricular Assist
Devices Application Outlook (Revenue, USD Million, 2016 - 2027)
- Bridge to Transplant
- Destination Therapy
- Bridge to recovery &
bridge to candidacy
Ventricular Assist
Devices Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Spain
- Italy
- Russia
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Australia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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