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Global Ventricular Assist Device Market: By Product Type; By Applications; By Design: Transcutaneous Ventricular Assist Devices, Implantable Ventricular Assist Devices; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments
Global Ventricular Assist Device Market Outlook
The global ventricular assist device market stood at a value of around USD 1.17 billion in 2020 and is predicted to grow at a CAGR of 11.6% over the forecast period of 2023-2028.
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.
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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.
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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.
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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.
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.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Product Type, Applications, Design, Region |
| Breakup by Product Type | Left Ventricular Assist Devices (LVADs), Right Ventricular Assist Devices (RVADs) Silicon, Biventricular Assist Devices (BIVADs) |
| Breakup by Applications | Bridge-To-Transplant (BTT) Therapy, Destination Therapy, Bridge-To-Recovery (BTR) Therapy, Bridge-To-Candidacy (BTC) Therapy |
| Breakup by Design | Transcutaneous Ventricular Assist Devices, Implantable Ventricular Assist Devices |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Terumo Corporation, ReliantHeart, Inc., Medtronic Plc., Jarvik Heart, Inc., CardiacAssist Technologies, Calon Cardio-Technology Ltd., Abbott Laboratories, Asahi Kasei Corporation, Abiomed, Inc., Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Ventricular Assist Device Market Analysis
8.1 Key Industry Highlights
8.2 Global Ventricular Assist Device Historical Market (2018-2022)
8.3 Global Ventricular Assist Device Market Forecast (2023-2028)
8.4 Global Ventricular Assist Device Market by Product Type
8.4.1 Left Ventricular Assist Devices (LVADs)
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Right Ventricular Assist Devices (RVADs) Silicon
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Biventricular Assist Devices (BIVADs)
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.5 Global Ventricular Assist Device Market by Applications
8.5.1 Bridge-To-Transplant (BTT) Therapy
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Destination Therapy
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Bridge-To-Recovery (BTR) Therapy
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Bridge-To-Candidacy (BTC) Therapy
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.6 Global Ventricular Assist Device Market by Design
8.6.1 Transcutaneous Ventricular Assist Devices
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Implantable Ventricular Assist Devices
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.7 Global Ventricular Assist Device Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Latin America
8.7.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Spain
9.2.3.6 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 Terumo Corporation
11.2.1.1 Company Overview
11.2.1.2 Product Portfolio
11.2.1.3 Demographic Reach and Achievements
11.2.1.4 Certifications
11.2.2 ReliantHeart, Inc.
11.2.2.1 Company Overview
11.2.2.2 Product Portfolio
11.2.2.3 Demographic Reach and Achievements
11.2.2.4 Certifications
11.2.3 Medtronic Plc.
11.2.3.1 Company Overview
11.2.3.2 Product Portfolio
11.2.3.3 Demographic Reach and Achievements
11.2.3.4 Certifications
11.2.4 Jarvik Heart, Inc.
11.2.4.1 Company Overview
11.2.4.2 Product Portfolio
11.2.4.3 Demographic Reach and Achievements
11.2.4.4 Certifications
11.2.5 CardiacAssist Technologies
11.2.5.1 Company Overview
11.2.5.2 Product Portfolio
11.2.5.3 Demographic Reach and Achievements
11.2.5.4 Certifications
11.2.6 Calon Cardio-Technology Ltd.
11.2.6.1 Company Overview
11.2.6.2 Product Portfolio
11.2.6.3 Demographic Reach and Achievements
11.2.6.4 Certifications
11.2.7 Abbott Laboratories
11.2.7.1 Company Overview
11.2.7.2 Product Portfolio
11.2.7.3 Demographic Reach and Achievements
11.2.7.4 Certifications
11.2.8 Asahi Kasei Corporation
11.2.8.1 Company Overview
11.2.8.2 Product Portfolio
11.2.8.3 Demographic Reach and Achievements
11.2.8.4 Certifications
11.2.9 Abiomed, Inc.
11.2.9.1 Company Overview
11.2.9.2 Product Portfolio
11.2.9.3 Demographic Reach and Achievements
11.2.9.4 Certifications
11.2.10 Others
12 Industry Events and Developments
List of Key Figures and Tables
1. Global Ventricular Assist Device Market: Key Industry Highlights, 2018 and 2028
2. Global Ventricular Assist Device Historical Market: Breakup by Product Type (USD Million), 2018-2022
3. Global Ventricular Assist Device Market Forecast: Breakup by Product Type (USD Million), 2023-2028
4. Global Ventricular Assist Device Historical Market: Breakup by Application (USD Million), 2018-2022
5. Global Ventricular Assist Device Market Forecast: Breakup by Application (USD Million), 2023-2028
6. Global Ventricular Assist Device Historical Market: Breakup by Design (USD Million), 2018-2022
7. Global Ventricular Assist Device Market Forecast: Breakup by Design (USD Million), 2023-2028
8. Global Ventricular Assist Device Historical Market: Breakup by Region (USD Million), 2018-2022
9. Global Ventricular Assist Device Market Forecast: Breakup by Region (USD Million), 2023-2028
10. North America Ventricular Assist Device Historical Market: Breakup by Country (USD Million), 2018-2022
11. North America Ventricular Assist Device Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Europe Ventricular Assist Device Historical Market: Breakup by Country (USD Million), 2018-2022
13. Europe Ventricular Assist Device Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Asia Pacific Ventricular Assist Device Historical Market: Breakup by Country (USD Million), 2018-2022
15. Asia Pacific Ventricular Assist Device Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Latin America Ventricular Assist Device Historical Market: Breakup by Country (USD Million), 2018-2022
17. Latin America Ventricular Assist Device Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Middle East and Africa Ventricular Assist Device Historical Market: Breakup by Country (USD Million), 2018-2022
19. Middle East and Africa Ventricular Assist Device Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Global Ventricular Assist Device Market Structure
Key Questions Answered in the Report
The global ventricular assist device market reached a value of USD 1.17 billion in 2020.
The industry is further likely to grow at a CAGR of 11.6% in the forecast period of 2023 and 2028.
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.
Analyst Review
The global ventricular assist device market attained a value of USD 1.17 billion in 2020 driven by the rising incidences of heart failure and cardiovascular disease. Aided by the technical advancements linked to the production of new drugs and the scarcity of transplant organs, the market is projected to grow at a CAGR of 11.6% in the forecast period of 2023-2028.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its product type, the industry can be segmented into left ventricular assist devices (LVADS), right ventricular assist devices (RVADS) silicon, and and biventricular assist devices (BIVADs). On the basis of applications, the industry can be segmented into bridge-to-transplant (BTT) therapy, destination therapy, bridge-to-recovery (BTR) therapy, and bridge-to-candidacy (BTC) therapy. Based on its design, the industry can be segmented into transcutaneous ventricular assist devices and implantable ventricular assist devices. The major regional markets are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include 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.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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