Ventricular Assist Devices Market by Product, Application and Design: 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.

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

North America
US
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
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

Frequently Asked Questions about the Ventricular Assist Devices Market

What is the estimated value of the Ventricular Assist Devices Market?

The Ventricular Assist Devices Market was estimated to be valued at $1237.74 million in 2020.

What is the growth rate of the Ventricular Assist Devices Market?

The growth rate of the Ventricular Assist Devices Market is 8.6%, with an estimated value of $2825.94 million by 2030.

What is the forecasted size of the Ventricular Assist Devices Market?

The Ventricular Assist Devices Market is estimated to be worth $2825.94 million by 2030.

Who are the key companies in the Ventricular Assist Devices Market?

Key companies in the Ventricular Assist Devices Market include Abiomed, Inc., Berlin Heart GmbH, Boston Scientific Corporation, Calon Cardio, Jarvik Heart, Inc., LivaNova PLC, Medtronic plc, ReliantHeart Inc. and Terumo Medical Corporation..

Report Attribute	Details
No. of Pages	209
Published	March 2022
Forecast Period	2020 - 2030
Estimated Market Value ( USD ) in 2020	$ 1237.74 million
Forecasted Market Value ( USD ) by 2030	$ 2825.94 million
Compound Annual Growth Rate	8.6%
Regions Covered	Global
No. of Companies Mentioned	10

Chapter 1: Introduction

1.1. Report Description
1.2. Key Benefits for Stakeholders
1.3. Key Market Segments
1.4. Research Methodology
1.4.1. Secondary Research
1.4.2. Primary Research
1.4.3. Analyst Tools and Models

Chapter 2: Executive Summary

2.1. Key Findings of the Study
2.2. Cxo Perspective

Chapter 3: Market Overview

3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top Winning Strategies
3.2.2. Top Investment Pockets
3.3. Market Share Analysis, 2016
3.4. Market Dynamics
3.4.1. Drivers
3.4.1.1. Increase in Incidence of Heart Failures
3.4.1.2. Technological Advancements
3.4.1.3. Increase in Patient Awareness About Heart Failure Treatment Options
3.4.1.4. Dearth of Heart Donors
3.4.2. Restraints
3.4.2.1. High Cost of Devices and Procedures
3.4.2.2. Serious Risks Involved in the Procedure
3.4.3. Opportunity
3.4.3.1. Lucrative Opportunities in the Emerging Markets
3.4.4. Impact Analyses

Chapter 4: Ventricular Assist Devices Market, by Product

4.1. Overview
4.1.1. Market Size and Forecast
4.2. Left Ventricular Assist Devices (Lvads)
4.2.1. Key Market Trends, Growth Factors, and Opportunities
4.2.2. Market Size and Forecast, by Region
4.2.3. Market Analysis, by Country
4.3. Right Ventricular Assist Devices (Rvads)
4.3.1. Key Market Trends, Growth Factors, and Opportunities
4.3.2. Market Size and Forecast, by Region
4.3.3. Market Analysis, by Country
4.4. Biventricular Assist Devices (Bivads)
4.4.1. Key Market Trends, Growth Factors, and Opportunities
4.4.2. Market Size and Forecast, by Region
4.4.3. Market Analysis, by Country

Chapter 5: Ventricular Assist Devices Market, by Application

5.1. Overview
5.1.1. Market Size and Forecast
5.2. Bridge-To-Transplant (Btt) Therapy
5.2.1. Market Size and Forecast, by Region
5.2.2. Market Analysis, by Country
5.3. Destination Therapy
5.3.1. Market Size and Forecast, by Region
5.3.2. Market Analysis, by Country
5.4. Bridge-To-Recovery (Btr) Therapy
5.4.1. Market Size and Forecast, by Region
5.4.2. Market Analysis, by Country
5.5. Bridge-To-Candidacy (Btc) Therapy
5.5.1. Market Size and Forecast, by Region
5.5.2. Market Analysis, by Country

Chapter 6: Ventricular Assist Devices Market, by Design

6.1. Overview
6.1.1. Market Size and Forecast
6.2. Transcutaneous Ventricular Assist Devices
6.2.1. Market Size and Forecast, by Region
6.2.2. Market Analysis, by Country
6.3. Implantable Ventricular Assist Devices
6.3.1. Market Size and Forecast, by Region
6.3.2. Market Analysis, by Country

Chapter 7: Ventricular Assist Devices, by Region

7.1. Overview
7.1.1. Market Size and Forecast
7.2. North America
7.2.1. Key Market Trends, Growth Factors, and Opportunities
7.2.2. North America Market Size and Forecast, by Country
7.2.2.1. U. S. Ventricular Assist Devices Market Size and Forecast
7.2.2.1.1. U. S. Ventricular Assist Devices Market Size and Forecast, by Product
7.2.2.1.2. U. S. Ventricular Assist Devices Market Size and Forecast, by Application
7.2.2.1.3. U. S. Ventricular Assist Devices Market Size and Forecast, by Design
7.2.2.2. Canada Ventricular Assist Devices Market Size and Forecast
7.2.2.2.1. Canada Ventricular Assist Devices Market Size and Forecast, by Product
7.2.2.2.2. Canada Ventricular Assist Devices Market Size and Forecast, by Application
7.2.2.2.3. Canada Ventricular Assist Devices Market Size and Forecast, by Design
7.2.2.3. Mexico Ventricular Assist Devices Market Size and Forecast
7.2.2.3.1. Mexico Ventricular Assist Devices Market Size and Forecast, by Product
7.2.2.3.2. Mexico Ventricular Assist Devices Market Size and Forecast, by Application
7.2.2.3.3. Mexico Ventricular Assist Devices Market Size and Forecast, by Design
7.2.3. North America Market Size and Forecast, by Product
7.2.4. North America Market Size and Forecast, by Application
7.2.5. North America Market Size and Forecast, by Design
7.3. Europe
7.3.1. Key Market Trends, Growth Factors, and Opportunities
7.3.2. Europe Market Size and Forecast, by Country
7.3.2.1. Germany Ventricular Assist Devices Market Size and Forecast
7.3.2.1.1. Germany Ventricular Assist Devices Market Size and Forecast, by Product
7.3.2.1.2. Germany Ventricular Assist Devices Market Size and Forecast, by Application
7.3.2.1.3. Germany Ventricular Assist Devices Market Size and Forecast, by Design
7.3.2.2. France Ventricular Assist Devices Market Size and Forecast
7.3.2.2.1. France Ventricular Assist Devices Market Size and Forecast, by Product
7.3.2.2.2. France Ventricular Assist Devices Market Size and Forecast, by Application
7.3.2.2.3. France Ventricular Assist Devices Market Size and Forecast, by Design
7.3.2.3. Uk Ventricular Assist Devices Market Size and Forecast
7.3.2.3.1. Uk Ventricular Assist Devices Market Size and Forecast, by Product
7.3.2.3.2. Uk Ventricular Assist Devices Market Size and Forecast, by Application
7.3.2.3.3. Uk Ventricular Assist Devices Market Size and Forecast, by Design
7.3.2.4. Italy Ventricular Assist Devices Market Size and Forecast
7.3.2.4.1. Italy Ventricular Assist Devices Market Size and Forecast, by Product
7.3.2.4.2. Italy Ventricular Assist Devices Market Size and Forecast, by Application
7.3.2.4.3. Italy Ventricular Assist Devices Market Size and Forecast, by Design
7.3.2.5. Spain Ventricular Assist Devices Market Size and Forecast
7.3.2.5.1. Spain Ventricular Assist Devices Market Size and Forecast, by Product
7.3.2.5.2. Spain Ventricular Assist Devices Market Size and Forecast, by Application
7.3.2.5.3. Spain Ventricular Assist Devices Market Size and Forecast, by Design
7.3.2.6. Rest of Europe Ventricular Assist Devices Market Size and Forecast
7.3.2.6.1. Rest of Europe Ventricular Assist Devices Market Size and Forecast, by Product
7.3.2.6.2. Rest of Europe Ventricular Assist Devices Market Size and Forecast, by Application
7.3.2.6.3. Rest of Europe Ventricular Assist Devices Market Size and Forecast, by Design
7.3.3. Europe Market Size and Forecast, by Product
7.3.4. Europe Market Size and Forecast, by Application
7.3.5. Europe Market Size and Forecast, by Design
7.4. Asia-Pacific
7.4.1. Key Market Trends, Growth Factors, and Opportunities
7.4.2. Asia-Pacific Market Size and Forecast, by Country
7.4.2.1. Japan Ventricular Assist Devices Market Size and Forecast
7.4.2.1.1. Japan Ventricular Assist Devices Market Size and Forecast, by Product
7.4.2.1.2. Japan Ventricular Assist Devices Market Size and Forecast, by Application
7.4.2.1.3. Japan Ventricular Assist Devices Market Size and Forecast, by Design
7.4.2.2. China Ventricular Assist Devices Market Size and Forecast
7.4.2.2.1. China Ventricular Assist Devices Market Size and Forecast, by Product
7.4.2.2.2. China Ventricular Assist Devices Market Size and Forecast, by Application
7.4.2.2.3. China Ventricular Assist Devices Market Size and Forecast, by Design
7.4.2.3. India Ventricular Assist Devices Market Size and Forecast
7.4.2.3.1. India Ventricular Assist Devices Market Size and Forecast, by Product
7.4.2.3.2. India Ventricular Assist Devices Market Size and Forecast, by Application
7.4.2.3.3. India Ventricular Assist Devices Market Size and Forecast, by Design
7.4.2.4. Australia Ventricular Assist Devices Market Size and Forecast
7.4.2.4.1. Australia Ventricular Assist Devices Market Size and Forecast, by Product
7.4.2.4.2. Australia Ventricular Assist Devices Market Size and Forecast, by Application
7.4.2.4.3. Australia Ventricular Assist Devices Market Size and Forecast, by Design
7.4.2.5. Rest of Asia-Pacific Ventricular Assist Devices Market Size and Forecast
7.4.2.5.1. Rest of Asia-Pacific Ventricular Assist Devices Market Size and Forecast, by Product
7.4.2.5.2. Rest of Asia-Pacific Ventricular Assist Devices Market Size and Forecast, by Application
7.4.2.5.3. Rest of Asia-Pacific Ventricular Assist Devices Market Size and Forecast, by Design
7.4.3. Asia-Pacific Market Size and Forecast, by Product
7.4.4. Asia-Pacific Market Size and Forecast, by Application
7.4.5. Asia-Pacific Market Size and Forecast, by Design
7.5. Lamea
7.5.1. Key Market Trends, Growth Factors, and Opportunities
7.5.2. Lamea Market Size and Forecast, by Country
7.5.2.1. Brazil Ventricular Assist Devices Market Size and Forecast
7.5.2.1.1. Brazil Ventricular Assist Devices Market Size and Forecast, by Product
7.5.2.1.2. Brazil Ventricular Assist Devices Market Size and Forecast, by Application
7.5.2.1.3. Brazil Ventricular Assist Devices Market Size and Forecast, by Design
7.5.2.2. South Africa Ventricular Assist Devices Market Size and Forecast
7.5.2.2.1. South Africa Ventricular Assist Devices Market Size and Forecast, by Product
7.5.2.2.2. South Africa Ventricular Assist Devices Market Size and Forecast, by Application
7.5.2.2.3. South Africa Ventricular Assist Devices Market Size and Forecast, by Design
7.5.2.3. Saudi Arabia Ventricular Assist Devices Market Size and Forecast
7.5.2.3.1. Saudi Arabia Ventricular Assist Devices Market Size and Forecast, by Product
7.5.2.3.2. Saudi Arabia Ventricular Assist Devices Market Size and Forecast, by Application
7.5.2.3.3. Saudi Arabia Ventricular Assist Devices Market Size and Forecast, by Design
7.5.2.4. Rest of LAMEA Ventricular Assist Devices Market Size and Forecast
7.5.2.4.1. Rest of LAMEA Ventricular Assist Devices Market Size and Forecast, by Product
7.5.2.4.2. Rest of LAMEA Ventricular Assist Devices Market Size and Forecast, by Application
7.5.2.4.3. Rest of LAMEA Ventricular Assist Devices Market Size and Forecast, by Design
7.5.3. Lamea Market Size and Forecast, by Product
7.5.4. Lamea Market Size and Forecast, by Application
7.5.5. Lamea Market Size and Forecast, by Design

Chapter 8: Company Profile

8.1. Abiomed, Inc.
8.1.1. Company Overview
8.1.2. Company Snapshot
8.1.3. Product Portfolio
8.1.4. Business Performance
8.1.5. Key Strategic Moves and Developments
8.2. Asahi Kasei Corporation (Evaheart Medical U. S. A. Inc.)
8.2.1. Company Overview
8.2.2. Company Snapshot
8.2.3. Operating Business Segments
8.2.4. Product Portfolio
8.2.5. Business Performance
8.3. Abbott Laboratories (St. Jude Medical, Inc.)
8.3.1. Company Overview
8.3.2. Company Snapshot
8.3.3. Operating Business Segments
8.3.4. Product Portfolio
8.3.5. Business Performance
8.3.6. Key Strategic Moves and Developments
8.4. Berlin Heart GmbH
8.4.1. Company Overview
8.4.2. Company Snapshot
8.4.3. Product Portfolio
8.5. Calon Cardio-Technology Ltd.
8.5.1. Company Overview
8.5.2. Company Snapshot
8.5.3. Product Portfolio
8.6. Cardiacassist Technologies
8.6.1. Company Overview
8.6.2. Company Snapshot
8.6.3. Product Portfolio
8.7. Jarvik Heart, Inc.
8.7.1. Company Overview
8.7.2. Company Snapshot
8.7.3. Product Portfolio
8.8. Medtronic plc.
8.8.1. Company Overview
8.8.2. Company Snapshot
8.8.3. Operating Business Segments
8.8.4. Product Portfolio
8.8.5. Business Performance
8.9. Reliantheart, Inc.
8.9.1. Company Overview
8.9.2. Company Snapshot
8.9.3. Product Portfolio
8.10. Terumo Corporation
8.10.1. Company Overview
8.10.2. Company Snapshot
8.10.3. Operating Business Segments
8.10.4. Product Portfolio
8.10.5. Business Performance

List of Tables

Table 01. Global Ventricular Assist Devices Market Revenue, by Product, 2016–2023 ($Million)
Table 02. Left Ventricular Assist Devices Market Revenue, by Region, 2016–2023 ($Million)
Table 03. Right Ventricular Assist Devices Market Revenue, by Region, 2016–2023 ($Million)
Table 04. Biventricular Assist Devices (Bivads) Market Revenue, by Region, 2016–2023 ($Million)
Table 05. Global Ventricular Assist Devices Market Revenue, by Application, 2016–2023 ($Million)
Table 06. Ventricular Assist Device Market Revenue for Bridge-To-Transplant Therapy, by Region, 2016–2023 ($Million)
Table 07. Ventricular Assist Device Market Revenue for Destination Therapy, by Region, 2016–2023 ($Million)
Table 08. Ventricular Assist Device Market Revenue for Bridge-To-Recovery Therapy, by Region, 2016–2023 ($Million)
Table 09. Ventricular Assist Device Market Revenue for Bridge-To-Candidacy Therapy, by Region, 2016–2023 ($Million)
Table 10. Ventricular Assist Devices Market Revenue, by Design, 2016–2023 ($Million)
Table 11. Transcutaneous Ventricular Assist Devices Market Revenue, by Region, 2016–2023 ($Million)
Table 12. Implantable Ventricular Assist Devices Market Revenue, by Region, 2016–2023 ($Million)
Table 13. Ventricular Assist Devices Market Revenue, by Region, 2016–2023 ($Million)
Table 14. North America Ventricular Assist Devices Market Revenue, by Country, 2016–2023 ($Million)
Table 15. U.S Ventricular Assist Devices Market Revenue, by Product, 2016–2023 ($Million)
Table 16. U.S Ventricular Assist Devices Market Revenue, by Application, 2016–2023 ($Million)
Table 17. U.S Ventricular Assist Devices Market Revenue, by Design, 2016–2023 ($Million)
Table 18. Canada Ventricular Assist Devices Market Revenue, by Product, 2016–2023 ($Million)
Table 19. Canada Ventricular Assist Devices Market Revenue, by Application, 2016–2023 ($Million)
Table 20. Canada Ventricular Assist Devices Market Revenue, by Design, 2016–2023 ($Million)
Table 21. Mexico Ventricular Assist Devices Market Revenue, by Product, 2016–2023 ($Million)
Table 22. Mexico Ventricular Assist Devices Market Revenue, by Application, 2016–2023 ($Million)
Table 23. Mexico Ventricular Assist Devices Market Revenue, by Design, 2016–2023 ($Million)
Table 24. North America Ventricular Assist Devices Market Revenue, by Product, 2016–2023 ($Million)
Table 25. North America Ventricular Assist Devices Market Revenue, by Application, 2016–2023 ($Million)
Table 26. North America Ventricular Assist Devices Market Revenue, by Design, 2016–2023 ($Million)
Table 27. Europe Ventricular Assist Devices Market Revenue, by Country, 2016–2023 ($Million)
Table 28. Germany Ventricular Assist Devices Market Revenue, by Product, 2016–2023 ($Million)
Table 29. Germany Ventricular Assist Devices Market Revenue, by Application, 2016–2023 ($Million)
Table 30. Germany Ventricular Assist Devices Market Revenue, by Design, 2016–2023 ($Million)
Table 31. France Ventricular Assist Devices Market Revenue, by Product, 2016–2023 ($Million)
Table 32. France Ventricular Assist Devices Market Revenue, by Application, 2016–2023 ($Million)
Table 33. France Ventricular Assist Devices Market Revenue, by Design, 2016–2023 ($Million)
Table 34. Uk Ventricular Assist Devices Market Revenue, by Product, 2016–2023 ($Million)
Table 35. Uk Ventricular Assist Devices Market Revenue, by Application, 2016–2023 ($Million)
Table 36. Uk Ventricular Assist Devices Market Revenue, by Design, 2016–2023 ($Million)
Table 37. Italy Ventricular Assist Devices Market Revenue, by Product, 2016–2023 ($Million)
Table 38. Italy Ventricular Assist Devices Market Revenue, by Application, 2016–2023 ($Million)
Table 39. Italy Ventricular Assist Devices Market Revenue, by Design, 2016–2023 ($Million)
Table 40. Spain Ventricular Assist Devices Market Revenue, by Product, 2016–2023 ($Million)
Table 41. Spain Ventricular Assist Devices Market Revenue, by Application, 2016–2023 ($Million)
Table 42. Spain Ventricular Assist Devices Market Revenue, by Design, 2016–2023 ($Million)
Table 43. Rest of Europe Ventricular Assist Devices Market Revenue, by Product, 2016–2023 ($Million)
Table 44. Rest of Europe Ventricular Assist Devices Market Revenue, by Application, 2016–2023 ($Million)
Table 45. Rest of Europe Ventricular Assist Devices Market Revenue, by Design, 2016–2023 ($Million)
Table 46. Europe Ventricular Assist Devices Market Revenue, by Product, 2016–2023 ($Million)
Table 47. Europe Ventricular Assist Devices Market Revenue, by Application, 2016–2023 ($Million)
Table 48. Europe Ventricular Assist Devices Market Revenue, by Design, 2016–2023 ($Million)
Table 49. Asia-Pacific Ventricular Assist Devices Market Revenue, by Country, 2016–2023 ($Million)
Table 50. Japan Ventricular Assist Devices Market Revenue, by Product, 2016–2023 ($Million)
Table 51. Japan Ventricular Assist Devices Market Revenue, by Application, 2016–2023 ($Million)
Table 52. Japan Ventricular Assist Devices Market Revenue, by Design, 2016–2023 ($Million)
Table 53. China Ventricular Assist Devices Market Revenue, by Product, 2016–2023 ($Million)
Table 54. China Ventricular Assist Devices Market Revenue, by Application, 2016–2023 ($Million)
Table 55. China Ventricular Assist Devices Market Revenue, by Design, 2016–2023 ($Million)
Table 56. India Ventricular Assist Devices Market Revenue, by Product, 2016–2023 ($Million)
Table 57. India Ventricular Assist Devices Market Revenue, by Application, 2016–2023 ($Million)
Table 58. India Ventricular Assist Devices Market Revenue, by Design, 2016–2023 ($Million)
Table 59. Australia Ventricular Assist Devices Market Revenue, by Product, 2016–2023 ($Million)
Table 60. Australia Ventricular Assist Devices Market Revenue, by Application, 2016–2023 ($Million)
Table 61. Australia Ventricular Assist Devices Market Revenue, by Design, 2016–2023 ($Million)
Table 62. Rest of Asia-Pacific Ventricular Assist Devices Market Revenue, by Product, 2016–2023 ($Million)
Table 63. Rest of Asia-Pacific Ventricular Assist Devices Market Revenue, by Application, 2016–2023 ($Million)
Table 64. Rest of Asia-Pacific Ventricular Assist Devices Market Revenue, by Design, 2016–2023 ($Million)
Table 65. Asia-Pacific Ventricular Assist Devices Market Revenue, by Product, 2016–2023 ($Million)
Table 66. Asia-Pacific Ventricular Assist Devices Market Revenue, by Application, 2016–2023 ($Million)
Table 67. Asia-Pacific Ventricular Assist Devices Market Revenue, by Design, 2016–2023 ($Million)
Table 68. Lamea Ventricular Assist Devices Market Revenue, by Country, 2016–2023 ($Million)
Table 69. Brazil Ventricular Assist Devices Market Revenue, by Product, 2016–2023 ($Million)
Table 70. Brazil Ventricular Assist Devices Market Revenue, by Application, 2016–2023 ($Million)
Table 71. Brazil Ventricular Assist Devices Market Revenue, by Design, 2016–2023 ($Million)
Table 72. South Africa Ventricular Assist Devices Market Revenue, by Product, 2016–2023 ($Million)
Table 73. South Africa Ventricular Assist Devices Market Revenue, by Application, 2016–2023 ($Million)
Table 74. South Africa Ventricular Assist Devices Market Revenue, by Design, 2016–2023 ($Million)
Table 75. Saudi Arabia Ventricular Assist Devices Market Revenue, by Product, 2016–2023 ($Million)
Table 76. Saudi Arabia Ventricular Assist Devices Market Revenue, by Application, 2016–2023 ($Million)
Table 77. Saudi Arabia Ventricular Assist Devices Market Revenue, by Design, 2016–2023 ($Million)
Table 78. Rest of LAMEA Ventricular Assist Devices Market Revenue, by Product, 2016–2023 ($Million)
Table 79. Rest of LAMEA Ventricular Assist Devices Market Revenue, by Application, 2016–2023 ($Million)
Table 80. Rest of LAMEA Ventricular Assist Devices Market Revenue, by Design, 2016–2023 ($Million)
Table 81. Lamea Ventricular Assist Devices Market Revenue, by Product, 2016–2023 ($Million)
Table 82. Lamea Ventricular Assist Devices Market Revenue, by Application, 2016–2023 ($Million)
Table 83. Lamea Ventricular Assist Devices Market Revenue, by Design, 2016–2023 ($Million)
Table 84. Abiomed: Company Snapshot
Table 85. Abiomed: Product Portfolio
Table 86. Asahi Kasei: Company Snapshot
Table 87. Asahi Kasei: Operating Segments
Table 88. Asahi Kasei: Product Portfolio
Table 89. Abbott: Company Snapshot
Table 90. Abbott: Operating Segments
Table 91. Abbott: Product Portfolio
Table 92. Berlin Heart: Company Snapshot
Table 93. Berlin Heart: Product Portfolio
Table 94. Calon Cardio: Company Snapshot
Table 95. Calon Cardio: Product Portfolio
Table 96. Cardiacassist: Company Snapshot
Table 97. Cardiacassist: Product Portfolio
Table 98. Jarvik Heart: Company Snapshot
Table 99. Jarvik Heart: Product Portfolio
Table 100. Medtronic: Company Snapshot
Table 101. Medtronic: Operating Segments
Table 102. Medtronic: Product Portfolio
Table 103. Reliantheart: Company Snapshot
Table 104. Reliantheart: Product Portfolio
Table 105. Terumo: Company Snapshot
Table 106. Terumo: Operating Segments
Table 107. Terumo: Product Portfolio

List of Figures

Figure 01. Global Ventricular Assist Devices Market Segmentation
Figure 02. Top Winning Strategies, by Year, 2015-2018*
Figure 03. Top Winning Strategies, by Development, 2015-2018* (%)
Figure 04. Top Winning Strategies, by Company, 2015-2018*
Figure 05. Top Investment Pockets
Figure 06. Market Share Analysis, 2016
Figure 07. Impact Analyses
Figure 08. Comparative Analysis of Left Ventricular Assist Devices Market Revenue, by Country, 2016 & 2023 (%)
Figure 09. Comparative Analysis of Right Ventricular Assist Devices Market Revenue, by Country, 2016 & 2023 (%)
Figure 10. Comparative Analysis of Biventricular Assist Devices Market Revenue, by Country, 2016 & 2023 (%)
Figure 11. Comparative Analysis of Ventricular Assist Device Market Revenue for Bridge-To-Transplant Therapy, by Country, 2016 & 2023 (%)
Figure 12. Comparative Analysis of Ventricular Assist Device Market Revenue for Destination Therapy, by Country, 2016 & 2023 (%)
Figure 13. Comparative Analysis of Ventricular Assist Device Market Revenue for Bridge-To-Recovery Therapy, by Country, 2016 & 2023 (%)
Figure 14. Comparative Analysis of Ventricular Assist Device Market Revenue for Bridge-To-Candidacy Therapy, by Country, 2016 & 2023 (%)
Figure 15. Comparative Analysis of Transcutaneous Ventricular Assist Devices Market Revenue, by Country, 2016 & 2023 (%)
Figure 16. Comparative Analysis of Implantable Ventricular Assist Devices Market Revenue, by Country, 2016 & 2023 (%)
Figure 17. Abiomed: Net Sales, 2018–2020 ($ Million)
Figure 18. Abiomed: Revenue Share by Segment, 2020 (%)
Figure 19. Abiomed: Revenue Share by Region, 2020 (%)
Figure 20. Asahi Kasei: Net Sales, 2018–2020 ($ Million)
Figure 21. Abbott: Net Sales, 2018–2020 ($ Million)
Figure 22. Abbott: Revenue Share by Segment, 2020 (%)
Figure 23. Abbott: Revenue Share by Region, 2020 (%)
Figure 24. Medtronic: Net Sales, 2018–2020 ($ Million)
Figure 25. Medtronic: Revenue Share by Segment, 2020 (%)
Figure 26. Medtronic: Revenue Share by Region, 2020 (%)
Figure 27. Terumo: Net Sales, 2018–2020 ($ Million)
Figure 28. Terumo: Revenue Share by Segment, 2020 (%)

Executive Summary

According to a new report titled, “Ventricular Assist Devices Market by Product, Application and Design: Global Opportunity Analysis and Industry Forecast, 2021–2030, the ventricular assist devices market size 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 devices are the mechanical pump, which is implanted in patients with heart failure. The main purpose of the ventricular assist device is to unload the failing heart and help maintain blood flow to vital organs. In case of bridge-to-transplant therapy or destination therapy, ventricular assist devices are typically placed through a chest incision after the patient has been placed on the bypass machine.

The major factors that contribute to the ventricular assist devices market growth include, technological advancements in ventricular assist devices, awareness among patients about monitoring of the heart, and treatment options for management of cardiac disorders. In addition, rise in concerns to decrease surgical injuries propels the growth of the market. Furthermore, as per iData Research, approximately 13 million laparoscopic surgeries were performed globally every year. Further, the FDA aims to enhance availability of appropriate, reliable, and accurate ventricular assist devices to meet public health needs and increase access to treatments for consumers.

Moreover, advancements in ventricular assist devices have led to higher success rates in treatment of heart failures. Earlier, the devices that were used had certain shortcomings, such as high risk of infection, thrombus formation, and blood trauma. To address such complications, modifications were done in VADs to improve efficiency and durability. The devices, such as the second-generation device, HeartMate II, displayed increased functional capacity and performance. Third-generation devices, such as DuraHeart and HeartMate III were further developed that incorporated features such as smaller size, lower rotational speeds, higher efficiency, and enhanced anatomic design. Thus, with the development of more effective VADs, the market is expected to witness significant growth in the near future, thereby propelling growth of the ventricular assist devices market.

Moreover, rise in awareness among patients about monitoring of heart and treatment options for cardiac disorders plays a vital role in the growth of the ventricular assist device market. Several educational and awareness programs have been initiated by the government and key players to increase the awareness of the treatment of cardiac disorders among patients, doctors, and healthcare providers, which boost the growth of the market. Furthermore, surge in geriatric population, who are more vulnerable to chronic and cardiovascular diseases led to increase in number of surgeries, which propels the growth of the market.

For instance, in February 2020, Abbott received an approval from the U.S FDA for its fully implantable left ventricular assist system. As per the report published in the Journal of Geriatric Cardiology by Li-Yuan Ma, there were approximately 290 million patients of cardiovascular disorders in China and approximately 2 in 5 deaths occurred in China due to cardiovascular disorders. Therefore, the rise in number of cardiovascular diseases results in increase in number of organ transplantation procedures. This has led to increase in usage of ventricular assist devices that boosts the growth of the market. Ageing population is at a high risk of having cardiovascular diseases, which leads to increase in demand for surgical interventions. Thus, increase in geriatric population is also expected to drive the substantial growth of the ventricular assist devices market during forecast period.

The ventricular assist device market is segmented on the basis of product, application, design, and region. By product, it is divided into left ventricular assist devices (LVADs), right ventricular assist devices (RVADs), and biventricular assist devices (BIVADs). The XXX segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to increase in number of cardiac surgeries, advancements in R&D activities in pharmaceutical & medical device industries, and surge in adoption of ventricular assist devices.

On the basis of application, the ventricular assist device market is classified into bridge-to-transplant (BTT) therapy, destination therapy, bridge-to-recovery (BTR) therapy, and bridge-to-candidacy (BTC) therapy. By 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.

North America accounted for a majority of the global ventricular assist devices market share in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to rise in prevalence of cardiovascular surgeries, increase in number of approvals for ventricular assist products, presence of key players, and development in technology for healthcare in the region. Asia-Pacific is anticipated to witness lucrative growth, owing to increase in organ transplantation procedures, rise in number of geriatric populations, and growth in the healthcare industry.

Key Findings Of The Study

By type, the left ventricular assist devices segment was the highest contributor to the ventricular assist devices market in 2020
On the basis of indication, the bridge-to-transplant dominated the market in 2020, and is expected to continue this trend during the forecast period
On the basis of Application, the transcutaneous ventricular assist devices segment dominated the ventricular assist device market in 2020, and is expected to continue this trend during the forecast period

Region wise, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

Companies Mentioned

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

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
Scientific and technical writings for product information and related preemptions
Regional government and statistical databases for macro analysis
Authentic news articles and other related releases for market evaluation
Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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