Report Overview

2023

Base Year

2017-2023

Historical Year

2024-2032

Forecast Year

Global Ventricular Assist Device Market Outlook

The global ventricular assist device market size was valued at USD 1.63 billion in 2023. The major drivers of the industry include the technological advancements pertaining to novel product developments, increased public financing, growing global geriatric population, and pursual of unhealthy lifestyles. The market is anticipated to grow at a CAGR of 11.6% during the forecast period 2024-2032 to reach a value of USD 4.38 billion by 2032.

Rising incidences of heart failure and cardiovascular disease have resulted in the increased demand for ventricular assist devices as they help in mechanically pumping blood in patients with heart failure or weak heart.

Ventricular Assist Device Market

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Market Segmentation

A ventricular assist device is an electromechanical device for assisting cardiac circulation, which is used either to partially or to completely replace the function of a failing heart. The market can be divided on the basis of segments like product type, applications, and design.

Ventricular Assist Device Market By Segments

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The market can be divided on the basis of its product type as left ventricular assist devices (LVADs), right ventricular assist devices (RVADs) silicon, and biventricular assist devices (BIVADs). The industry can be broadly categorised on the basis of its applications into:

  • Bridge-To-Transplant (BTT) Therapy
  • Destination Therapy
  • Bridge-To-Recovery (BTR) Therapy
  • Bridge-To-Candidacy (BTC) Therapy

The industry can be categorised based on design as transcutaneous ventricular assist devices and implantable ventricular assist devices.

The EMR report looks into the regional ventricular assist device markets like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.

Market Analysis

The increasing prevalence of cardiovascular diseases, technological advancements pertaining to novel product developments, and shortage of transplant organs are the major factors accelerating the growth of the industry. Moreover, increased public financing for new-product development combined with ongoing studies in this field are aiding the ventricular assist device industry further. High procedure cost and limited insurance coverage are the constraints, which may affect the market growth in the coming years.

Ventricular Assist Device Market By Region

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Competitive Landscape

The report presents a detailed analysis of the following key players in the global ventricular assist device industry, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Terumo Corporation (OTCMKTS: TRUMY)
  • ReliantHeart, Inc.
  • Medtronic Plc.
  • Jarvik Heart, Inc.
  • CardiacAssist Technologies
  • Calon Cardio-Technology Ltd.
  • Abbott Laboratories 
  • Asahi Kasei Corporation 
  • Abiomed, Inc.
  • Others

The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s five forces.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2017-2023
Forecast Period 2023-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Application
  • End User
  • Region
Breakup by Type
  • Left Ventricular Assist Device (LVAD)
  • Right Ventricular Assist Device (RVAD)
  • Biventricular Assist Device (BIVAD)
Breakup by Application
  • Bridge-to-transplant (BTT) Therapy
  • Destination Therapy
  • Other Therapies
Breakup by End User
  • Diagnostic Centers
  • Ambulatory Surgical Centers
  • Others
Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Market Dynamics
  • Market Drivers and Constraints
  • SWOT Analysis
  • Porter’s Five Forces Model 
  • Key Demand Indicators
  • Key Price Indicators
  • Industry Events, Initiatives, and Trends 
  • Value Chain Analysis
Supplier Landscape
  • Market Structure
  • Company Profiles
    • Financial Analysis
    • Product Portfolio
    • Demographic Reach and Achievements
    • Mergers and Acquisitions
    • Certifications
Companies Covered
  • Abiomed Inc.
  • BiVACOR Inc
  • Abbott Laboratories (St. Jude Medical Inc.)\
  • Medtronic plc
  • Terumo Corporation
  • Fisher & Paykel Healthcare Limited
  • Evaheart, Inc.
  • Calon Cardio-Technology Ltd
  • Berlin Heart GmbH
  • AdjuCor GmbH
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

The ventricular assist device market reached a value of USD 1.63 billion in 2023.

The market is anticipated to grow at a CAGR of 11.6% during the forecast period of 2024-2032 to reach a value of USD 4.38 billion by 2032.

The major drivers of the industry include the technological advancements pertaining to novel product developments, increased public financing, growing global geriatric population, and pursual of unhealthy lifestyles.

The increasing prevalence of cardiovascular diseases and the shortage of transplant organs are the major factors accelerating the industry's growth.

The major regions in the industry are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The major product types in the industry are left ventricular assist devices (LVADS), right ventricular assist devices (RVADS) silicon, and biventricular assist devices (BIVADs).

The significant applications in the industry are bridge-to-transplant (BTT) therapy, destination therapy, bridge-to-recovery (BTR) therapy, and bridge-to-candidacy (BTC) therapy.

The design sectors include transcutaneous ventricular assist devices and implantable ventricular assist devices.

The key players in the industry are Terumo Corporation, ReliantHeart, Inc., Medtronic Plc., Jarvik Heart, Inc., CardiacAssist Technologies, Calon Cardio-Technology Ltd., Abbott Laboratories, Asahi Kasei Corporation, and Abiomed, Inc., among others.

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