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Ventricular Assist Devices Market 2020 Regional Growth Drivers, Opportunities, Trends, and Forecasts to 2025

Author : Ronak Bora | Published Date : 2020-09-09 

Ventricular Assist Devices Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Global ventricular assist devices market is projected to witness a lucrative growth spurt over the forthcoming time period. With rising awareness and technological developments, the global ventricular assist devices market is expected to chalk out remunerative growth trend through a diverse array of verticals.

Factors such as increase in number of people suffering from heart failure and other cardiovascular diseases across the world would likely push the market share further.  Moreover, an apparent lack of heart donors across the world would also serve to be another major factor in boosting the market.

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In terms of flow, the continuous flow ventricular assist devices market is slated to register a growth of over 6% in the forecast timeframe. Extensive use of these devices in patients that require mechanical circulatory support as part of the destination as well as bridge to transplant therapy in end stage heart failure is likely to further favor segmental growth.

As per a research report by GMI, global ventricular assist devices market is estimated to surpass $3.5 billion by 2025.

The ventricular assist devices that are used to treat last-stage heart failure are extremely complicated and critical mechanical devices. These devices are produced in adherence to strict medical parameters that are needed to be followed by the manufacturers. Enforcement of these stringent rules and regulations may resist business growth.

 

Due to the rise in the number of right ventricle failure rates, the adoption of PVADs has increased in the recent past. The benefits associated with PVADs include ease of implantation, safety and high reliability for survival will boost the segmental market growth. In 2018, the percutaneous ventricular assist devices (PVADs) segment accounted for nearly US$1 billion in revenue.

The bridge-to-transplant (BTT) therapy segment is projected to gain a considerable CAGR exceeding 5.5% through 2025. According to a journal of the American Heart Association (AHA), benefits of BTT-VAD treatment therapy include cost-effectiveness of the treatment and increased patient survival rate. The affordability and accessibility of these life-saving therapies will increase the demand and adoption in low and medium-range economies.

The rising number of cardiac arrest and heart failure cases among the people aged between 40-59 years will serve as a major factor that will lead to a substantial growth of the mechanical circulatory support device industry. The sale of ventricular assist devices in the people aged between 40-59 years accounted for exceeding US$900 million in 2018.

The continuous flow ventricular assist devices market segment is projected to witness growth of over 6% CAGR up to 2025. The wide range of usage of these life-saving medical devices is classified as per patient requirements, will play a crucial role in augmenting the market expansion.

U.S. ventricular assist device market is poised to witness a substantial CAGR of nearly 5% through 2025. According to the American College of Cardiology, the number of people who die due to cardiovascular diseases in the U.S. is around 800,000. With the growing prevalence of unhealthy lifestyles, rising number of CVD diseases, heart failure rate, and technological advancements in the field of medical science are some major factors driving the adoption of medical devices.

With the rising number of patients requiring external mechanical support and suffering from last-stage congestive heart failure (HF), by 2025, the implantable ventricular assist devices segment is expected to reach the US$2.5 billion mark. The implantable mechanical circulatory support device devices are inserted through surgery inside the patient’s body, which works as a mechanical pump that helps to circulate the blood from the lower chambers of the heart or ventricles to the rest of the patient’s body.

Prominent companies offering ventricular assist devices are Medtronic, Abbott, Evaheart, Abiomed, Bivacor, Berlin Heart, CardiacAssist, Inc., Jarvik Heart, Terumo Corporation, Maquet, and others. These leading companies aim at strategic development such as collaborations and partnerships to extensively work on R&D and expand their product range and portfolio, to take competitive advantage. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/ventricular-assist-devices-market

Partial Chapter of the Table of Content 

Chapter 3.  Ventricular Assist Devices Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2014 – 2025 (USD Million and Units)

3.3. Industry impact forces

3.3.1.  Growth drivers

3.3.1.1.  Increase in number of heart failures and cardiovascular diseases in Europe

3.3.1.2.  Technological advancements in North America

3.3.1.3.  Growing geriatric population in Asia Pacific

3.3.1.4.  Rise in awareness regarding heart failure treatment in Latin America

3.3.1.5.  Decrease in number of heart donors across the globe

3.3.2. Industry pitfalls & challenges

3.3.2.1.  High cost of the device and procedures

3.3.2.2.  High health risk associated with product and procedures

3.3.2.3.  Stringent regulatory approvals

3.4. Growth potential analysis

3.4.1.  By product

3.4.2.  By application

3.4.3.  By age

3.4.4.  By flow

3.4.5.  By design

3.5. Regulatory landscape

3.5.1.  U.S.

3.5.2.  Europe

3.6. Technology landscape

3.7. Left ventricular assist devices properties

3.8. Global prevalence of cardiovascular diseases, 2018

3.9. Global heart transplantation scenario

3.10. Porter’s analysis

3.11. Competitive landscape, 2018

3.11.1. Business overview

3.11.2. Revenue analysis

3.11.3. Product landscape

3.11.4. Strategy dashboard

3.12. PESTEL analysis

Chapter 4.  Ventricular Assist Devices Market, By Product

4.1. Key segment trends

4.2. Left Ventricular Assist Devices (LVADs)

4.2.1.  Market size, by region, 2014 – 2025 (USD Million)

4.2.2.  Market size, by region, 2014 – 2025 (Units)

4.3. Right Ventricular Assist Devices (RVADs)

4.3.1.  Market size, by region, 2014 – 2025 (USD Million)

4.3.2.  Market size, by region, 2014 – 2025 (Units)

4.4. Biventricular Assist Devices (BIVADs)

4.4.1.  Market size, by region, 2014 – 2025 (USD Million)

4.4.2.  Market size, by region, 2014 – 2025 (Units)

4.5. Percutaneous Ventricular Assist Devices (PVADs)

4.5.1.  Market size, by region, 2014 – 2025 (USD Million)

4.5.2.  Market size, by region, 2014 – 2025 (Units)

4.6. Total Artificial Heart

4.6.1.  Market size, by region, 2014 – 2025 (USD Million)

4.6.2.  Market size, by region, 2014 – 2025 (Units)

 

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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