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Cardiac Assist Devices - Global Market Insights, Competitive Landscape, and Market Forecast - 2028

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    Report

  • 150 Pages
  • August 2023
  • Region: Global
  • DelveInsight
  • ID: 5863678

Cardiac Assist Devices Market By Product (Ventricular Assist Devices [Left Ventricular Assist Devices (LVAD), Biventricular Ventricular Assist Devices (BIVAD), and Right Ventricular Assist Devices (RVAD)], Artificial Heart, and Intra-Aortic Balloon Pump), Type (Transcutaneous and Implantable), Therapy (Bridge-To-Transplant (BTT) Therapy, Destination Therapy, and Bridge-To-Candidacy (BTC Therapy), End-User (Hospitals, Cardiac Centers, and Ambulatory Surgical Centers), and Geography is expected to grow at a steady CAGR forecast till 2028 owing to growth in new therapies and increasing prevalence of coronary diseases.

The global cardiac assist devices market was valued at USD 2.89 billion in 2022, growing at a CAGR of 13.70% during the forecast period from 2023 to 2028, to reach USD 6.23 billion by 2028. The demand for cardiac assistance devices is motivated by a rise in the prevalence of coronary diseases, growth in new therapies, the affordability of medical devices, increasing penetration and acceptance of cardiac assistance devices in emerging countries, and innovation and advancement of medical devices.

Cardiac Assist Devices Market Dynamics:

Heart transplantation is widely regarded as the greatest therapeutic option for individuals with end-stage heart failure across the world. Only a limited percentage of patients get transplants due to the scarcity of organs available for transplantation. According to the most recent statistics, the number of patients waiting for a heart transplant has more than doubled in only five years. However, the scarcity of donors, long waiting times, and an increasing number of unstable patients have favored the development of cardiac assist.

Cardiac Assist Devices (CAD) are a type of mechanical pump that operate together with the heart to increase the effectiveness of pumping and maintain optimal blood flow across the body. To treat end-stage heart failure, cardiac aid systems are used that are determined by the individual's needs. As a result of the scarcity of cardiac donors, temporary cardiac assist devices are utilized to provide long-term assistance for individuals.

According to a report from the American Heart Association, 2020, the prevalence of heart failure continues to increase over time, with the aging of the population. It is predicted that the rising number of elderly patients would transform healthcare delivery and create a larger demand for cardiac assist devices. As per the recent survey, Global Population Aging 2020 Report (United Nations, 2020), the aging population tends to grow at an alarming pace. In 2020, there were around 727 million individuals in the world aged 65 years or older. By 2050, the figure for such patients is expected to double and reach 1.5 billion by 2050. Since the aging population is more prone to cardiovascular disorders, therefore it will give rise to more demand for cardiac assist devices, which will boost the cardiac assist devices market.

Moreover, companies are increasing their manufacturing of essential medical device products. For instance, in August 2022, the United States Food and Drug Administration (FDA) granted breakthrough device designation to Abiomed's Impella ECP expandable percutaneous heart pump. The designation means the FDA will prioritize Impella ECP's regulatory review processes including design iterations, clinical study protocols, and pre-market approval (PMA) application.

Therefore, such initiatives are expected to help the market and the patients in their treatment which will drive the cardiac assist devices market growth also.

However, high treatment costs and limitations regarding the safety of implantable devices may prove to be certain restraints to the Cardiac Assist Devices market growth.

Cardiac Assist Devices Market Segment Analysis:

Cardiac Assist Devices Market By Product (Ventricular Assist Devices [Left Ventricular Assist Devices (LVAD), Biventricular Ventricular Assist Devices (BIVAD), and Right Ventricular Assist Devices (RVAD)], Artificial Heart, and Intra-Aortic Balloon Pump), Type (Transcutaneous and Implantable), Therapy (Bridge-To-Transplant (BTT) Therapy, Destination Therapy, and Bridge-To-Candidacy (BTC Therapy), End-User (Hospitals, Cardiac Centers, and Ambulatory Surgical Centers), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the cardiac assist devices market product segment under the ventricular assist devices category, left ventricular assist devices are expected to hold a significant share during the forecast period. It is primarily attributed to the advantages and applications associated with LVAD coupled with increasing technological advancements, the scarcity of organ donors, and the increasing prevalence of heart failure globally.

LVAD is intended for the treatment of patients with severe heart failure by restoring normal blood flow. The implantation of LVAD in heart failure patients can be life-saving and buys more time for them till organ transplantation.

LVADs are highly reliable and come with built-in safety systems.

Post implantation of LVAD, patients witness improvement in their health and can return/resume their daily activities including driving, and others.

LVADs offer intermediate to long-term treatment solutions for severe heart failure patients. Additionally, assistance from government bodies, and favorable reimbursement scenarios, are expected to enhance the cardiac assist devices market potential in several countries.

Hence, all the above-mentioned factors are expected to drive the segment growth.

North America is expected to dominate the Overall Cardiac Assist Devices Market:

Among all the regions, North America is expected to account for the largest share of the cardiac assist devices market. The growing prevalence of cardiovascular diseases, access to better healthcare infrastructure, and growing awareness regarding cardiac diseases coupled with the presence of major cardiac assist devices market players in the region are predicted to be the major influencing factors in driving the overall growth of the cardiac assist devices market over the forecast period.

The Centers for Disease Control and Prevention (CDC) 2022, estimated that about 20.1 million adults aged 20 and older had Coronary artery disease (CAD) in the US, in 2020. Also, the same source stated that in the United States, someone has a heart attack every 40 seconds. Every year, about 805,000 people in the United States have a heart attack. Out of these, 605,000 are a first heart attack, 200,000 happen to people who have already had a heart attack and about 1 in 5 heart attacks are silent - the damage is done, but the person is not aware of it.

As per the facts provided by the CDC 2020, heart disease is the leading cause of death for men, women, and people of most racial and ethnic groups in the United States where about 655,000 Americans die from heart disease each year.

In addition, the well-established healthcare infrastructure in the country with supportive reimbursement programs covering the costs for the implantable devices as well as the procedure further encourages people to opt for such devices.

Thereby, considering the presence of a large patient pool in the US coupled with new product launches, the market for cardiac assist devices looks promising in the United States.

Cardiac Assist Devices Market Key Players:

Some of the key market players operating in the cardiac assist devices market include Abbott Laboratories, Teleflex Incorporated, SynCardia Systems, LLC, St. Jude Medical Inc, CARMAT, CorWave SA, Medtronic PLC, Terumo Heart, Inc., NovaPump GmbH, Getinge AB, Balton Ltd., Meril Life Sciences Pvt. Ltd., Thoratec Corporation, CardiacAssist, Inc., Berlin Heart GmbH, and others.

Recent Developmental Activities in the Cardiac Assist Devices Market:

  • In December 2020, Abbott received FDA approval for the updated labeling for the HeartMate 3 Heart Pump to be used in pediatric patients with advanced refractory left ventricular heart failure.
  • In March 2020, the US-based healthcare giant, SynCardia Systems LLC, got approval from the US FDA for a 50CC temporary total artificial heart system as a bridge to heart transplant for patients who are at imminent risk for death from biventricular failure.

Key Takeaways from the Cardiac Assist Devices Market Report Study

  • Market size analysis for current market size (2022), and market forecast for 5 years (2023-2028)
  • Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
  • Key companies dominating the global cardiac assist devices market.
  • Various opportunities are available for the other competitor in the cardiac assist devices market space.
  • What are the top-performing segments in 2022? How these segments will perform in 2028?
  • Which are the top-performing regions and countries in the current market scenario?
  • Which are the regions and countries where companies should have concentrated on opportunities for cardiac assist devices market growth in the coming future?

Target Audience who can be benefited from this Cardiac Assist Devices Market Report Study

  • Cardiac Assist Devices providers
  • Research organizations and consulting companies
  • Cardiac Assist Devices related organizations, associations, forums, and other alliances
  • Government and corporate offices
  • Start-up companies, venture capitalists, and private equity firms
  • Distributors and Traders in cardiac assist devices
  • Various End-users want to know more about the cardiac assist devices market and the latest technological developments in the cardiac assist devices market.

Frequently Asked Questions for Cardiac Assist Devices Market:

1. What are Cardiac Assist Devices?

Cardiac Assist Devices (CAD) are a type of mechanical pump that operate together with the heart to increase the effectiveness of pumping and maintain optimal blood flow across the body. To treat end-stage heart failure, cardiac aid systems are used that are determined by the individual's needs. As a result of the scarcity of cardiac donors, temporary cardiac assist devices are utilized to provide long-term assistance for individuals.

2. What is the market for global cardiac assist devices?

The global cardiac assist devices market was valued at USD 2.89 billion in 2022, growing at a CAGR of 13.70% during the forecast period from 2023 to 2028, to reach USD 6.23 billion by 2028.

3. What are the drivers for global cardiac assist devices?

The major drivers driving the demand for cardiac assist devices are a rise in the prevalence of coronary diseases, growth in new therapies, the affordability of medical devices, increasing penetration and acceptance of cardiac assistance devices in emerging countries, and innovation and advancement of medical devices.

4. Who are the key players operating in global cardiac assist devices?

Some of the key market players operating in the cardiac assist devices market include Abbott Laboratories, Teleflex Incorporated, SynCardia Systems, LLC, St. Jude Medical Inc, CARMAT, CorWave SA, Medtronic PLC, Terumo Heart, Inc., NovaPump GmbH, Getinge AB, Balton Ltd., Meril Life Sciences Pvt. Ltd., Thoratec Corporation, CardiacAssist, Inc., Berlin Heart GmbH, and others.

5. Which region has the highest share in the cardiac assist devices market?

North America is expected to dominate the overall cardiac assist devices market during the forecast period, 2023 to 2028. This domination is due to the growing prevalence of cardiovascular diseases, access to better healthcare infrastructure, and growing awareness regarding cardiac diseases coupled with the presence of major cardiac assist devices market players in the region.



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Table of Contents

1. Cardiac Assist Devices Market Report Introduction
2. Cardiac Assist Devices Market Executive Summary
2.1. Scope of the Study
2.2. Market at Glance
2.3. Competitive Assessment
3. Regulatory Analysis
3.1. The United States
3.2. Europe
3.3. Japan
3.4. China
4. Cardiac Assist Devices Market Key Factors Analysis
4.1. Cardiac Assist Devices Market Drivers
4.1.1. Rise in prevalence of coronary diseases
4.1.2. Growth in new therapies
4.1.3. Scarcity of heart donors
4.2. Cardiac Assist Devices Market Restraints and Challenges
4.2.1. High cost of the pump
4.2.2. Low repayment scenario in developing countries
4.3. Cardiac Assist Devices Market Opportunities
4.3.1. Increasing penetration and acceptance of cardiac assistance devices
4.3.2. Development of non-invasive, compact, and advanced devices
5. Cardiac Assist Devices Porter's Five Forces Analysis
5.1. Bargaining Power of Suppliers
5.2. Bargaining Power of Consumers
5.3. Threat of New Entrants
5.4. Threat of Substitutes
5.5. Competitive Rivalry
6. Cardiac Assist Devices Market Layout
6.1. By Product
6.1.1. Ventricular Assist Devices
6.1.1.1. Left Ventricular Assist Devices (LVAD)
6.1.1.2. Biventricular Ventricular Assist Devices (BIVAD)
6.1.1.3. Right Ventricular Assist Devices (RVAD)
6.1.2. Total Artificial Hearts
6.1.3. Intra-Aortic Balloon Pumps
6.2. By Type
6.2.1. Transcutaneous
6.2.2. Implantable
6.3. By Therapy
6.3.1. Bridge-To-Transplant (BTT)
6.3.2. Bridge-To-Candidacy (BTC)
6.3.3. Destination Therapy (DT)
6.4. By End-User
6.4.1. Hospitals
6.4.2. Cardiac Centers
6.4.3. Ambulatory Surgical Centers
6.5. By Geography
6.5.1. North America Cardiac Assist Devices Market Size in USD million (2020-2028)
6.5.1.1. United States Cardiac Assist Devices Market Size in USD million (2020-2028)
6.5.1.2. Canada Cardiac Assist Devices Market Size in USD million (2020-2028)
6.5.1.3. Mexico Cardiac Assist Devices Market Size in USD million (2020-2028)
6.5.2. Europe Cardiac Assist Devices Market Size in USD million (2020-2028)
6.5.2.1. France Cardiac Assist Devices Market Size in USD million (2020-2028)
6.5.2.2. Germany Cardiac Assist Devices Market Size in USD million (2020-2028)
6.5.2.3. United Kingdom Cardiac Assist Devices Market Size in USD million (2020-2028)
6.5.2.4. Italy Cardiac Assist Devices Market Size in USD million (2020-2028)
6.5.2.5. Spain Cardiac Assist Devices Market Size in USD million (2020-2028)
6.5.2.6. Rest of Europe Cardiac Assist Devices Market Size in USD million (2020-2028)
6.5.3. Asia-Pacific Cardiac Assist Devices Market Size in USD million (2020-2028)
6.5.3.1. China Cardiac Assist Devices Market Size in USD million (2020-2028)
6.5.3.2. Japan Cardiac Assist Devices Market Size in USD million (2020-2028)
6.5.3.3. India Cardiac Assist Devices Market Size in USD million (2020-2028)
6.5.3.4. Australia Cardiac Assist Devices Market Size in USD million (2020-2028)
6.5.3.5. South Korea Cardiac Assist Devices Market Size in USD million (2020-2028)
6.5.3.6. Rest of Asia Pacific Cardiac Assist Devices Market Size in USD million (2020-2028)
6.5.4. Rest of the World (RoW) Cardiac Assist Devices Market Size in USD million (2020-2028)
6.5.4.1. Middle East Cardiac Assist Devices Market Size in USD million (2020-2028)
6.5.4.2. Africa Cardiac Assist Devices Market Size in USD million (2020-2028)
6.5.4.3. South America Cardiac Assist Devices Market Size in USD million (2020-2028)
7. Cardiac Assist Devices Company and Product Profiles
7.1. Abbott Laboratories
7.1.1. Company Overview
7.1.2. Company Snapshot
7.1.3. Financial Overview
7.1.4. Product Listing
7.1.5. Entropy
7.2. Abiomed, Inc.
7.2.1. Company Overview
7.2.2. Company Snapshot
7.2.3. Financial Overview
7.2.4. Product Listing
7.2.5. Entropy
7.3. Teleflex Incorporated
7.3.1. Company Overview
7.3.2. Company Snapshot
7.3.3. Financial Overview
7.3.4. Product Listing
7.3.5. Entropy
7.4. SynCardia Systems, LLC
7.4.1. Company Overview
7.4.2. Company Snapshot
7.4.3. Financial Overview
7.4.4. Product Listing
7.4.5. Entropy
7.5. St. Jude Medical Inc.
7.5.1. Company Overview
7.5.2. Company Snapshot
7.5.3. Financial Overview
7.5.4. Product Listing
7.5.5. Entropy
7.6. Berlin Heart
7.6.1. Company Overview
7.6.2. Company Snapshot
7.6.3. Financial Overview
7.6.4. Product Listing
7.6.5. Entropy
7.7. CARMAT
7.7.1. Company Overview
7.7.2. Company Snapshot
7.7.3. Financial Overview
7.7.4. Product Listing
7.7.5. Entropy
7.8. CorWave SA
7.8.1. Company Overview
7.8.2. Company Snapshot
7.8.3. Financial Overview
7.8.4. Product Listing
7.8.5. Entropy
7.9. Medtronic Inc.
7.9.1. Company Overview
7.9.2. Company Snapshot
7.9.3. Financial Overview
7.9.4. Product Listing
7.9.5. Entropy
7.10. Terumo Heart, Inc.
7.10.1. Company Overview
7.10.2. Company Snapshot
7.10.3. Financial Overview
7.10.4. Product Listing
7.10.5. Entropy
7.11. Balton Ltd.
7.11.1. Company Overview
7.11.2. Company Snapshot
7.11.3. Financial Overview
7.11.4. Product Listing
7.11.5. Entropy
7.12. NovaPump GmbH
7.12.1. Company Overview
7.12.2. Company Snapshot
7.12.3. Financial Overview
7.12.4. Product Listing
7.12.5. Entropy
7.13. Meril Life Sciences Pvt. Ltd.
7.13.1. Company Overview
7.13.2. Company Snapshot
7.13.3. Financial Overview
7.13.4. Product Listing
7.13.5. Entropy
7.14. Thoratec Corporation
7.14.1. Company Overview
7.14.2. Company Snapshot
7.14.3. Financial Overview
7.14.4. Product Listing
7.14.5. Entropy
7.15. Getinge AB
7.15.1. Company Overview
7.15.2. Company Snapshot
7.15.3. Financial Overview
7.15.4. Product Listing
7.15.5. Entropy
8. KOL Views9. Project Approach10. Publisher Capabilities11. About the Publisher12. Disclaimer & Contact the Publisher
List of Tables
Table 1: Competitive Analysis
Table 2: Cardiac Assist Devices Market in Global (2020-2028)
Table 3: Cardiac Assist Devices Market in Global by Product (2020-2028)
Table 4: Cardiac Assist Devices Market in Global by Type (2020-2028)
Table 5: Cardiac Assist Devices Market in Global by Therapy (2020-2028)
Table 6: Cardiac Assist Devices Market in Global by End-User (2020-2028)
Table 7: Cardiac Assist Devices Market in Global by Geography (2020-2028)
Table 8: Cardiac Assist Devices Market in North America (2020-2028)
Table 9: Cardiac Assist Devices Market in the US (2020-2028)
Table 10: Cardiac Assist Devices Market in Canada (2020-2028)
Table 11: Cardiac Assist Devices Market in Mexico (2020-2028)
Table 12: Cardiac Assist Devices Market in Europe (2020-202
Table 13: Cardiac Assist Devices Market in France (2020-2028)
Table 14: Cardiac Assist Devices Market in Germany (2020-2028)
Table 15: Cardiac Assist Devices Market in the United Kingdom (2020-2028)
Table 16: Cardiac Assist Devices Market in Italy (2020-2028)
Table 17: Cardiac Assist Devices Market in Spain (2020-2028)
Table 18: Cardiac Assist Devices Market in Rest of Europe (2020-2028)
Table 19: Cardiac Assist Devices Market in Asia-Pacific (2020-2028)
Table 20: Cardiac Assist Devices Market in China (2020-2028)
Table 21: Cardiac Assist Devices Market in Japan (2020-2028)
Table 22: Cardiac Assist Devices Market in India (2020-2028)
Table 23: Cardiac Assist Devices Market in Australia (2020-2028)
Table 24: Cardiac Assist Devices Market in South Korea (2020-2028)
Table 25: Cardiac Assist Devices Market in Rest of Asia-Pacific (2020-2028)
Table 26: Cardiac Assist Devices Market in the Rest of the World (2020-2028)
Table 27: Cardiac Assist Devices Market in the Middle East (2020-2028)
Table 28: Cardiac Assist Devices Market in Africa (2020-2028)
Table 29: Cardiac Assist Devices Market in South America (2020-2028)
List of Figures
Figure 1: Competitive Analysis
Figure 2: Cardiac Assist Devices Market in Global (2020-2028)
Figure 3: Cardiac Assist Devices Market in Global by Product (2020-2028)
Figure 4: Cardiac Assist Devices Market in Global by Type (2020-2028)
Figure 5: Cardiac Assist Devices Market in Global by Therapy (2020-2028)
Figure 6: Cardiac Assist Devices Market in Global by End-User (2020-2028)
Figure 7: Cardiac Assist Devices Market in Global by Geography (2020-2028)
Figure 8: Cardiac Assist Devices Market in North America (2020-2028)
Figure 9: Cardiac Assist Devices Market in the US (2020-2028)
Figure 10: Cardiac Assist Devices Market in Canada (2020-2028)
Figure 11: Cardiac Assist Devices Market in Mexico (2020-2028)
Figure 12: Cardiac Assist Devices Market in Europe (2020-2028)
Figure 13: Cardiac Assist Devices Market in France (2020-2028)
Figure 14: Cardiac Assist Devices Market in Germany (2020-2028)
Figure 15: Cardiac Assist Devices Market in the United Kingdom (2020-2028)
Figure 16: Cardiac Assist Devices Market in Italy (2020-2028)
Figure 17: Cardiac Assist Devices Market in Spain (2020-2028)
Figure 18: Cardiac Assist Devices Market in Rest of Europe (2020-2028)
Figure 19: Cardiac Assist Devices Market in Asia-Pacific (2020-2028)
Figure 20: Cardiac Assist Devices Market in China (2020-2028)
Figure 21: Cardiac Assist Devices Market in Japan (2020-2028)
Figure 22: Cardiac Assist Devices Market in India (2020-2028)
Figure 23: Cardiac Assist Devices Market in Australia (2020-2028)
Figure 24: Cardiac Assist Devices Market in South Korea (2020-2028)
Figure 25: Cardiac Assist Devices Market in Rest of Asia-Pacific (2020-2028)
Figure 26: Cardiac Assist Devices Market in Rest of the World (2020-2028)
Figure 27: Cardiac Assist Devices Market in the Middle East (2020-2028)
Figure 28: Cardiac Assist Devices Market in Africa (2020-2028)
Figure 29: Cardiac Assist Devices Market in South America (2020-2028)
Figure 30: Market Drivers
Figure 31: Market Barriers
Figure 32: Market Opportunities
Figure 33: PORTER'S Five Force Analysis

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Abbott Laboratories
  • Teleflex Incorporated
  • SynCardia Systems, LLC
  • St. Jude Medical Inc
  • CARMAT
  • CorWave SA
  • Medtronic PLC
  • Terumo Heart, Inc.
  • NovaPump GmbH
  • Getinge AB
  • Balton Ltd.
  • Meril Life Sciences Pvt. Ltd.
  • Thoratec Corporation
  • CardiacAssist, Inc.
  • Berlin Heart GmbH