The global ventricular assist devices market size was estimated to be USD 1.75 billion in 2023 and is expected to reach at USD 5.67 billion by 2034 with a CAGR of 11.28% during the forecast period 2024-2034. Increasing geriatric population, growing prevalence of chronic disorders such as cardiovascular diseases, neurological disorders, diabetes, hypertension, & stroke, rising adoption of unhealthy lifestyles, surge in organ failure, increase in deficiency of organ donors & delay in organ transplantations, growing investment by major market players, rising focus on development of technologically advanced products, surge in launch of innovative products, and increasing number of clinical trials for safety and effectiveness of devices are some of the key factors boosting the market growth.
Increasing number of clinical trials for safety and effectiveness of devices is predicted to boost the market growth during the forecast period. For instance, in February 2023, AdjuCor GmbH, a forward-thinking medical device company based in Munich, Germany, has revealed the initiation of a European Union (EU) co-funded initiative for their groundbreaking cardiac support device known as reBEAT. This project represents a pivotal moment in the company's commitment to enhancing the well-being and outcomes of patients dealing with advanced heart failure.
By product, left ventricular assist devices (LVAD) was the highest revenue-grossing segment in the global ventricular assist devices market in 2023 owing to surge in number of LVAD implantation procedures among patients, rising mergers & collaboration within market players, and increasing research & development activities. For instance, in August 2022, Abbott has released the findings from a study involving patients who received its HeartMate 3 left ventricular assist devices. The results indicated improved survival rates among those who had the device implanted, leading to a higher likelihood of increased product adoption. Additionally, Bi-ventricular Assist Devices (BiVAD) is predicted to grow at fastest CAGR during the forecast period owing to the growing use of pneumatically driven BiVADs in TAH transplantation, increasing prevalence of decompensate heart failure.
By type of flow, non-pulsatile or continuous flow was the highest revenue-grossing segment in the global ventricular assist devices market in 2023 owing to the advantages of continuously flowing VADs over pulsating VADs such as fewer moving components, little noise, low maintenance, & infrequent replacements and surge in clinical trial procedures. For instance, in September 2022, Supira Medical Inc. has initiated its initial clinical study involving human subjects. Their low-profile, high-flow percutaneous Ventricular Assist Device (pVAD) is intended to enhance cardiovascular hemodynamics in patients undergoing High-Risk Percutaneous Coronary Interventions (HRPCI) as part of this prospective, single-arm, single-center trial. Additionally, Pulsatile flow is predicted to grow at fastest CAGR during the forecast period owing to the rising prevalence of heart failure & cardiovascular diseases and growing technological advancements.
By application, destination therapy was the highest revenue-grossing segment in the global ventricular assist devices market in 2023 owing to the surge in end-stage cardiac failure incidences & cardiovascular diseases, rising number of patients undergo heart transplant surgeries, increasing approvals by regulatory bodies, and growing number of clinical trial procedures. For instance, in March 2022, PropelTM, a first-generation percutaneous ventricular assist device (pVAD), was tested in-person for the first time by Cardiovascular Systems, Inc., and the results have been made public. This device offers hemodynamic support to individuals undergoing High-Risk Percutaneous Coronary Interventions (HR-PCI). Additionally, Bridge to transplantation is predicted to grow at fastest CAGR during the forecast period owing to the rising awareness regarding heart transplantation, increasing adoption of VAD in bridge to transplantation, and growing technological advancements.
By end-user, hospitals & ambulatory surgical centers was the highest revenue-grossing segment in the global ventricular assist devices market in 2023 owing to the surge in hospital stays of patients undergoing heart surgeries such as device placement or implant procedures and rising mergers & collaborations within market players. For instance, in September 2022, Abbott has completed the acquisition of Walk Vascular, LLC, a medical device firm dedicated to creating a minimally invasive mechanical aspiration thrombectomy system designed for the removal of blood clots. Additionally, Specialty clinics & others is predicted to grow at fastest CAGR during the forecast period owing to the growing number of specialty clinics and surge in number of physicians & skilled professionals.
North America region is anticipated for the highest revenue share during the forecast period owing to the growing awareness regarding VADs, surge in number of obese population susceptible to cardiovascular diseases, rising focus on development of technologically advanced products, presence of favorable reimbursement policies, and increasing mergers & acquisitions within market players. For instance, in December 2022, Johnson & Johnson has successfully finalized its acquisition of Abiomed, Inc. Abiomed has now become an integral part of Johnson & Johnson and will function independently as a separate entity within Johnson & Johnson's MedTech division. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising advancement in healthcare facilities, surge in favorable government policies, increasing prevalence of cardiovascular diseases, growing number of VAD procedures, and rising focus on development of advanced products. For instance, in January 2022, The School of Medical Research and Technology (SMRT) at IIT Kanpur has introduced Hridyantra, an initiative aimed at creating an advanced artificial heart, also known as a Left Ventricular Assist Device (LVAD), for individuals suffering from end-stage heart failure through a challenge-based program.
Increasing number of clinical trials for safety and effectiveness of devices is predicted to boost the market growth during the forecast period. For instance, in February 2023, AdjuCor GmbH, a forward-thinking medical device company based in Munich, Germany, has revealed the initiation of a European Union (EU) co-funded initiative for their groundbreaking cardiac support device known as reBEAT. This project represents a pivotal moment in the company's commitment to enhancing the well-being and outcomes of patients dealing with advanced heart failure.
By product, left ventricular assist devices (LVAD) was the highest revenue-grossing segment in the global ventricular assist devices market in 2023 owing to surge in number of LVAD implantation procedures among patients, rising mergers & collaboration within market players, and increasing research & development activities. For instance, in August 2022, Abbott has released the findings from a study involving patients who received its HeartMate 3 left ventricular assist devices. The results indicated improved survival rates among those who had the device implanted, leading to a higher likelihood of increased product adoption. Additionally, Bi-ventricular Assist Devices (BiVAD) is predicted to grow at fastest CAGR during the forecast period owing to the growing use of pneumatically driven BiVADs in TAH transplantation, increasing prevalence of decompensate heart failure.
By type of flow, non-pulsatile or continuous flow was the highest revenue-grossing segment in the global ventricular assist devices market in 2023 owing to the advantages of continuously flowing VADs over pulsating VADs such as fewer moving components, little noise, low maintenance, & infrequent replacements and surge in clinical trial procedures. For instance, in September 2022, Supira Medical Inc. has initiated its initial clinical study involving human subjects. Their low-profile, high-flow percutaneous Ventricular Assist Device (pVAD) is intended to enhance cardiovascular hemodynamics in patients undergoing High-Risk Percutaneous Coronary Interventions (HRPCI) as part of this prospective, single-arm, single-center trial. Additionally, Pulsatile flow is predicted to grow at fastest CAGR during the forecast period owing to the rising prevalence of heart failure & cardiovascular diseases and growing technological advancements.
By application, destination therapy was the highest revenue-grossing segment in the global ventricular assist devices market in 2023 owing to the surge in end-stage cardiac failure incidences & cardiovascular diseases, rising number of patients undergo heart transplant surgeries, increasing approvals by regulatory bodies, and growing number of clinical trial procedures. For instance, in March 2022, PropelTM, a first-generation percutaneous ventricular assist device (pVAD), was tested in-person for the first time by Cardiovascular Systems, Inc., and the results have been made public. This device offers hemodynamic support to individuals undergoing High-Risk Percutaneous Coronary Interventions (HR-PCI). Additionally, Bridge to transplantation is predicted to grow at fastest CAGR during the forecast period owing to the rising awareness regarding heart transplantation, increasing adoption of VAD in bridge to transplantation, and growing technological advancements.
By end-user, hospitals & ambulatory surgical centers was the highest revenue-grossing segment in the global ventricular assist devices market in 2023 owing to the surge in hospital stays of patients undergoing heart surgeries such as device placement or implant procedures and rising mergers & collaborations within market players. For instance, in September 2022, Abbott has completed the acquisition of Walk Vascular, LLC, a medical device firm dedicated to creating a minimally invasive mechanical aspiration thrombectomy system designed for the removal of blood clots. Additionally, Specialty clinics & others is predicted to grow at fastest CAGR during the forecast period owing to the growing number of specialty clinics and surge in number of physicians & skilled professionals.
North America region is anticipated for the highest revenue share during the forecast period owing to the growing awareness regarding VADs, surge in number of obese population susceptible to cardiovascular diseases, rising focus on development of technologically advanced products, presence of favorable reimbursement policies, and increasing mergers & acquisitions within market players. For instance, in December 2022, Johnson & Johnson has successfully finalized its acquisition of Abiomed, Inc. Abiomed has now become an integral part of Johnson & Johnson and will function independently as a separate entity within Johnson & Johnson's MedTech division. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising advancement in healthcare facilities, surge in favorable government policies, increasing prevalence of cardiovascular diseases, growing number of VAD procedures, and rising focus on development of advanced products. For instance, in January 2022, The School of Medical Research and Technology (SMRT) at IIT Kanpur has introduced Hridyantra, an initiative aimed at creating an advanced artificial heart, also known as a Left Ventricular Assist Device (LVAD), for individuals suffering from end-stage heart failure through a challenge-based program.
Segmentation: Ventricular Assist Devices Market Report 2022 - 2033
Ventricular Assist Devices Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Right Ventricular Assist Devices (RVAD)
- Bi-Ventricular Assist Device
- Left Ventricular Assist Devices (LVAD)
Ventricular Assist Devices Market Analysis & Forecast by Type Of Flow 2023 - 2034 (Revenue USD Bn)
- Pulsatile Flow
- Non-Pulsatile or Continuous Flow
Ventricular Assist Devices Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Bridge To Candidacy
- Destination Therapy
- Bridge To Transplantation
- Bridge To Recovery
Ventricular Assist Devices Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Hospitals & Ambulatory Surgical Centers
- Specialty Clinics & Others
Ventricular Assist Devices Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Ventricular Assist Devices Market: Product Estimates & Trend Analysis
8. Ventricular Assist Devices Market: Type Of Flow Estimates & Trend Analysis
9. Ventricular Assist Devices Market: Application Estimates & Trend Analysis
10. Ventricular Assist Devices Market: End-user Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Ventricular Assist Devices Market
13. Europe Global Ventricular Assist Devices Market
14. Asia Pacific Global Ventricular Assist Devices Market
15. Latin America Global Ventricular Assist Devices Market
16. MEA Global Ventricular Assist Devices Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- Berlin Heart GmbH
- AdjuCor GmbH
- Abbott Laboratories
- NuPulseCV Inc. LLC
- Abiomed Inc.
- Bivacor Inc.
- Calon Cardio-Technology Ltd
- Fineheart
- Carmat SA
- SynCardia Systems
- Corewave SA
- Evaheart Inc.
- Jarvik Heart Inc.
- CH Biomedical Inc.
- Windmill Cardiovascular Systems
- LivaNova PLC
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 1.75 Billion |
| Forecasted Market Value ( USD | $ 5.67 Billion |
| Compound Annual Growth Rate | 11.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 16 |
