Global Ventricular Assist Device Market By Product (Left Ventricular Assist Devices, Right Ventricular Assist Devices, Biventricular Assist Devices), Application (Bridge-to-transplant (BTT) Therapy, Destination Therapy, Bridge-to-recovery (BTR) Therapy, Bridge-to-candidacy (BTC) Therapy), Design (Transcutaneous Ventricular Assist Devices, Implantable Ventricular Assist Devices), Type (Pulsatile Flow, Continuous Flow), Age (Below 18, 19-36, 40-59, 60-79, Above 80), End- Users (Hospitals, Home Care Setups, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Ventricular Assist Device Market
Global ventricular assist device market is expected to rise to an estimated value of USD 2498.37 million by 2026, registering a CAGR of 11.45% in the forecast period of 2019-2026. Increasing incidences of heart failure and less number of heart donors is the major factor for the growth of this market.
Market Definition: Global Ventricular Assist Device Market
Ventricular assist device is a mechanical pump which is specially designed for the people with weak heart so that it can support the function of their heart and flow of blood. They are very useful in conditions like heart failures, high blood pressure, diabetes, lung diseases etc. Pump, electronic controller and batteries are main devices of the ventricular assist device. There main function is to maintain the smooth flow of blood in the body. Increasing heart failure cases is the major factor fueling the growth of this market.
- Rising awareness about the heart failure treatment among population is driving the growth of this market
- Technological advancement and development also boosts the market growth
- Rising geriatric population can also act as a market driver
- Increasing cardiovascular diseases is another factor driving the growth of this market
- High cost of the devices is restraining the market growth
- High risk related to the procedures can also act as a restricting factor for the growth of this market
- Strict rules and regulation is restraining the growth of this market
Segmentation: Global Ventricular Assist Device Market
- Left Ventricular Assist Devices
- Right Ventricular Assist Devices
- Biventricular Assist Devices
- Bridge-to-transplant (BTT) Therapy
- Destination Therapy
- Bridge-to-recovery (BTR) Therapy
- Bridge-to-candidacy (BTC) Therapy
- Transcutaneous Ventricular Assist Devices
- Implantable Ventricular Assist Devices
- Pulsatile Flow
- Continuous Flow
- Below 18
- Above 80
By End- Users
- Home Care Setups
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Key Developments in the Market:
- In June 2016, Medtronic announced that they have acquired Framingham, which will help the company to expand their heart failure business and will help them to better devices and solutions to their patients. This will also help the companies to combine their technologies and capabilities so that they can expand their growth in the mechanical circulatory support market
- In October 2015, St. Jude Medical, Inc announced that they have acquired Thoratec Corporation, so that they can add Thoratec’s HeartMate II VAD, HeartMate 3, HeartMate PHP devices and other products to their heart failure portfolio. This will help them to strengthen their heart failure portfolio. This acquisition will create better opportunities for both the companies and will help them to provide better treatment to their patients
Global ventricular assist device market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of ventricular assist device market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global ventricular assist device market are Abbott, ABIOMED., Berlin Heart, BiVACOR Inc., CardiacAssist, Inc, Evaheart, Inc., Jarvik Heart, Inc., Medtronic, Terumo Corporation, ReliantHeart Inc., Calon Cardio, LivaNova PLC, HeartWare, Thoratec Corporation, Getinge AB, SynCardia Systems, LLC., CHF Solutions, Inc., Cardiobridge GmbH among others.
Research Methodology: Global Ventricular Assist Device Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global ventricular assist device market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)