Ventricular Assist Devices Market by Product, Application, and Design : Global Opportunity Analysis and Industry Forecast, 2021-2030

Ventricular Assist Devices Market by Product (Left Ventricular Assist Devices (LVADs), Right Ventricular Assist Devices (RVADs), and Biventricular assist devices (BIVADs)), Application (Bridge-to-transplant (BTT) Therapy, Destination Therapy, Bridge-to-recovery (BTR) Therapy, and Bridge-to-candidacy (BTC) Therapy), and Design (Transcutaneous and Implantable Ventricular Assist Devices): Global Opportunity Analysis and Industry Forecast, 2021-2030


The ventricular assist devices market was valued at $1237.74 million in 2020, and is estimated to reach $2825.94 million by 2030, growing at a CAGR of 8.6% from 2021 to 2030. Ventricular assist device is a mechanical pump, used to support the function of left, right, or both ventricles. These devices are used to support cardiac circulation in people who have reached the end-stage heart failure.
Growth of the global ventricular assist devices market is majorly driven by alarming increase in number of cardiac surgeries, rise in government initiatives for development of pharmaceutical and medical device industry, and increase in number of approvals for ventricular assist device product. In addition, as per the Health Resources and Services Administration, 106,430 number of men, women, and children were on the national transplant waiting list and 39,000 transplants were performed in 2020, globally. The rise in demand for organ transplantation procedure and surge in usage of ventricular assist devices product drives the market growth. Furthermore, as per Organization for Economic Co-operation and Development, in 2018, 45,307 cases of coronary artery bypass grafting procedures were performed in Germany. Hence, the increasing incidences of emergency surgeries and extensive uses of ventricular assist devices propel the growth of the market.
Increase in government support for management of heart diseases and surge in demand for effective treatment are the major factors that drive the global ventricular assist devices market. In addition, key players, such as Abbott Laboratories and Medtronic Plc, provide numerous ventricular assist devices products and contribute toward the market growth. Rise in demand for ventricular assist devices during surgical procedures acts a key driving force for expansion of the global market.
Cardiovascular diseases (CVDs) are the leading cause of death globally, and it takes an estimated 17.9 million lives each year. According to the report by the British Heart Foundation, in 2021, 7.6 million people live with heart & circulatory diseases and it causes about 25% death in the UK. Cardiovascular diseases are a group of disorders of the heart & blood vessels and include, coronary heart disease, cerebrovascular disease, rheumatic heart disease, and other conditions. Thus, rise in use of ventricular assist devices during cardiac surgeries is expected to contribute towards the growth of ventricular assist and devices market.
However, high cost associated with ventricular assist devices and certain risks associated with the VAD implantation procedure hinder the growth of the market. Conversely, introduction of novel ventricular assist and devices is expected to create lucrative opportunities for the market.
The ventricular assist devices market is segmented on the basis of product, application, design, and region. Based on product, it is divided into left ventricular assist devices (LVADs), right ventricular assist devices (RVADs), and biventricular assist devices (BIVADs). By application, the market is classified into bridge-to-transplant (BTT) therapy, destination therapy, bridge-to-recovery (BTR) therapy, and bridge-to-candidacy (BTC) therapy. Based on design, the market is bifurcated into transcutaneous and implantable ventricular assist devices. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global ventricular assist devices market are Abiomed, Inc., Berlin Heart GmbH, Boston Scientific Corporation, Calon Cardio, Jarvik Heart, Inc., LivaNova PLC, Medtronic plc, ReliantHeart Inc., Abbott Laboratories, and Terumo Medical Corporation.
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KEY BENEFITS FOR STAKEHOLDERS
• This report provides an extensive analysis of the current and emerging market trends and dynamics in the global ventricular assist and devices market to identify the prevailing opportunities.
• This study presents the competitive landscape of the global market to predict the competitive environment across geographies.
• Comprehensive analysis of factors that drive and restrict the market growth is provided.
• Region- & country-wise analysis is provided to understand the market trends and dynamics.

KEY MARKET SEGMENT

By Product
• Left Ventricular Assist Devices (LVADs)
• Right Ventricular Assist Devices (RVADs)
• Biventricular Assist Devices (BIVADs)

By Application
• Bridge-to-Transplant (BTT) Therapy
• Destination Therapy
• Bridge-to-Recovery (BTR) Therapy
• Bridge-to-Candidacy (BTC) Therapy

By Design
• Transcutaneous Ventricular Assist Devices
• Implantable Ventricular Assist Devices

By Region
o North America
U.S.
Canada
Mexico
o Europe
Germany
France
UK
Italy
Spain
Rest of Europe
o Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
o LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA

KEY MARKET PLAYERS
• Abiomed, Inc.
• Berlin Heart GmbH
• Boston Scientific Corporation
• Calon Cardio
• Jarvik Heart, Inc.
• LivaNova PLC
• Medtronic plc
• ReliantHeart Inc.
• Abbott Laboratories
• Terumo Medical Corporation