Ventricular Assist Device Market (By Product: Left Ventricular Assist Device, Right Ventricular Assist Device, Bi-Ventricular Assist Device, Total Artificial Heart By Type Of Flow: Pulsatile Flow, Continuous Flow; By Application: Bridge to Transplant, Destination Therapy, Others; By Design: Implantable Ventricular Assist Device, Transcutaneous Ventricular Assist Device) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 2030

The global Ventricular Assist Device market size is expected to be worth around US$ 10.5 billion by 2030, according to a new report by Vision Research Reports.

The global Ventricular Assist Device market size was valued at US$ 2.8 billion in 2020 and is anticipated to grow at a CAGR of 20.3% during forecast period 2021 to 2030.

Ventricular Assist Device Market Size 2021 to 2030

Growth Factors

The rapidly growing global geriatric population is susceptible to chronic medical ailments such as diabetes, neurological disorders, cardiovascular diseases, stroke, and end-stage cardiac failure. The rising risks of organ failures and the growing demand for organ transplants due to these chronic ailments are contributing to the growth of the market for Ventricular Assist Devices (VADs). The development of innovative products and sophisticated miniature devices incorporated with features, such as infection control techniques, is expected to provide an impetus to the growth. The numerous benefits associated with the use of VADs, such as increased survival rate, durability, and functionality, are supporting the growing rate of adoption, and thereby boosting the market for VAD.

The growing rate of globalization, increasing pursual of unhealthy lifestyle habits, minimal physical activity, increased consumption of junk food and beverages, and and alcohol consumption if leading to the high global prevalence of cardiovascular diseases. 

Product Insights

In 2020, the Left Ventricular Assist Devices (LVAD) segment dominated the market for VAD and accounted for the largest revenue share of 80.5%. This growth is owing to the numerous procedures of LVAD implantations recorded amongst patients. By 2018, Abbott implanted its HEARTMATE II LVAD in over 26,6000 patients suffering from heart failure globally. As per the American College of Cardiology report, readmissions post LVAD implantation were costlier and led to extended hospitalization periods. Furthermore, with the patient pool suffering from end-stage cardiac failure is increasing and the shortage of available therapeutic procedures, the market for VAD is expected to grow over the forthcoming years.

The Bi-ventricular Assist Devices (BiVAD) segment is anticipated to register the fastest growth rate of 18.7% over the forthcoming years. The increased use of pneumatically driven BiVADs in TAH transplantation is expected to boost product demand. BiVADs are more effective than LVADs in individuals diagnosed with severely decompensate heart failure as they enable efficient working in the heart ventricles.

Type Of Flow Insights

In 2020, the non-pulsatile or continuous flow segment dominated the market for VAD and accounted for the largest revenue share of 92.5% owing to the benefits of the continuous flow VADs over pulsatile VADs. Continuous flow VADs have minimal noise, lesser rotating parts, lower maintenance, and rare replacements.  These benefits make continuous flow VADs are the popular choice of treatment among researchers and physicians. Product development in the continuous flow VADs segment focuses on eliminating moving parts in the machines. The key players, such as Abbott and Terumo Heart Inc, have launched HeartMate 3 LVADs and DuraHeart, respectively, since they do not possess any rotating parts that use magnetic levitation technology instead.

The pulsatile flow VADs segment is anticipated to expand at the fastest rate over the forecast period due to the increasing incidence of heart failure and cardiovascular diseases. According to the WHO, in 2016, approximately 17.9 million people died from cardiovascular diseases, accounting for 31% of global deaths. According to the data published by American Heart Association, in March 2018, pulsatile mechanical ventricular assist devices became a standard treatment for patients with severe heart failure as a bridge to transplantation or in part as a rehabilitation aid.

Design Insights

In 2020, the implantable devices segment dominated the market for VAD and accounted for the largest revenue share of 71.5%. This growth is owing to the rising preference for long-term therapy methods by patients ineligible for heart transplant interventions, and therefore this segment is anticipated to grow at a lucrative rate over the forthcoming years. The market for VAD is witnessing the introduction of new players with innovative devices. For instance, FineHeart SARL a medical technology company is focused on developing miniature embedded, pulsatile-flow VAD. Similarly, Abbott’s HeartMate 3 LVAD is incorporated with a magnetically levitated (MagLev) technology-based heart pump developed to lessen the damage caused by blood running through pumps during the blood flow optimization process. In addition, implantable devices are expected to record the fastest growth over the forecast period. Transcutaneous VAD compared to an implant device, is a VAD used briefly during or post-cardiac surgery. Patients with transcutaneous VAD are restricted to the clinical facility bed due to the external setup of the VAD control unit and thereby limiting the usage of these devices and restraining growth.

Application Insights

The destination therapy segment dominated the market for VAD and accounted for the largest revenue share of 53.1%. This growth is attributable to the increase in end-stage cardiac failure incidences and cardiovascular diseases. The bridge to transplantation segment is expected to record the fastest growth rate over the forecast period. VADs in the bridge to transplantation is used for a brief period (2 to 6 months only) in stabilizing patients from their physiological stress of the transplantation surgical process. Furthermore, VAD use in bridge to transplantation is gaining wide-scale adoption and acceptance owing to the enhancements in technology and decline in VAD-related complications.

Regional Insights

North America dominated the ventricular assist devices market and accounted for the largest revenue share of 64.1% in 2020. The availability of regulated reimbursement policies and coverages, increasing awareness regarding VADs such as bridge-to-recovery, destination therapies, and bridge-to-transplant are anticipated to drive the market for VAD in the forthcoming years. U.S. population accounts for the highest number of obese citizens, making them susceptible to cardiovascular diseases. Furthermore, the development of technologically developed healthcare facilities in the U.S. is expected to drive the treatment numbers and provide impetus to market growth. The presence of favorable reimbursement policies and insurance coverages reducing out-of-pocket expenditure is expected to boost growth by supporting the rising treatment rate.

In Asia Pacific, the market for VAD is anticipated to witness the highest CAGR of 19.3% over the forecast period owing to the advancement in healthcare facilities and favorable government strategies such as the “Make in India” movement to boost private and public partnerships in India. Similarly, favorable initiatives in other Southeast Asian countries undertaken by public and private players are expected to drive Asia Pacific growth. Moreover, the rising medical tourism market in Asia Pacific providing high-quality and cost-effective treatment services is boosting

Report Coverage Details
Market Size US$ 10.5 billion by 2030
Growth Rate CAGR of 20.3% From 2021 to 2030
Base Year 2020
Historic Data 2017 to 2020
Forecast Period 2021 to 2030
Segments Covered Product, Type of Flow, Design, Application
Regional Scope North America, Latin America, Europe, Asia Pacific, MEA
Companies Mentioned Abiomed; Medtronic; Abbott; Berlin Heart; Cardiac Assist, Inc.; Jarvik Heart, Inc.; ReliantHeart, Inc.; Sun Medical Technology Research Corp

Key Players

  • Abiomed

  • Medtronic

  • Abbott

  • Berlin Heart

  • Cardiac Assist, Inc.

  • Jarvik Heart, Inc.

  • ReliantHeart, Inc.

  • Sun Medical Technology Research Corp 

Market Segmentation

  • Product Outlook 

    • Left Ventricular Assist Device

    • Right Ventricular Assist Device

    • Bi-Ventricular Assist Device

    • Total Artificial Heart

  • Type Of Flow Outlook

    • Pulsatile Flow

    • Continuous Flow

  •  Application Outlook 

    • Bridge to Transplant

    • Destination Therapy

    • Others (Bridge to Recovery, Bridge to Candidacy, and Others)

  •  Design Outlook

    • Implantable Ventricular Assist Device

    • Transcutaneous Ventricular Assist Device

  •  Regional Outlook 

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • Spain

      • Italy

      • France

      • Russia

    • Asia Pacific

      • Japan

      • China

      • India

      • Singapore

      • Australia

      • South Korea

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • MEA

      • South Africa

      • Saudi Arabia

      • UAE

The Ventricular Assist Device market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Ventricular Assist Device market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Ventricular Assist Device market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Ventricular Assist Device market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Ventricular Assist Device market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Ventricular Assist Device capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Ventricular Assist Device by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Ventricular Assist Device market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Ventricular Assist Device market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Ventricular Assist Device market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Ventricular Assist Device industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Ventricular Assist Device market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Ventricular Assist Device market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Ventricular Assist Device market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Ventricular Assist Device market. These factors have benefited the growth of the global market for Ventricular Assist Device. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Ventricular Assist Device. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Ventricular Assist Device are as follows:

  • History Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2022 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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