Reports
Global Ventricular Assist Device Market Size, Statistics, Forecast: By Type: Left Ventricular Assist Device (LVAD), Right Ventricular Assist Device (RVAD), Biventricular Assist Device (BIVAD); By Application: Bridge-to-transplant (BTT) Therapy, Destination Therapy, Others; By End User; Regional Analysis; Supplier Landscape; 2023-2031
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.
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.
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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.
| 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:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Supplier Landscape |
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| Companies Covered |
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| 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
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Ventricular Assist Device Market Overview
3.1 Ventricular Assist Device Market Historical Value (2016-2022)
3.2 Ventricular Assist Device Market Forecast Value (2023-2031)
4 Ventricular Assist Device Market Landscape
4.1 Ventricular Assist Device: Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Ventricular Assist Device: Product Landscape
4.2.1 Analysis by Type
4.2.2 Analysis by Technology
5 Ventricular Assist Device Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Ventricular Assist Device Market Segmentation
6.1 Ventricular Assist Device Market by Type
6.1.1 Market Overview
6.1.2 Left Ventricular Assist Device (LVAD)
6.1.3 Right Ventricular Assist Device (RVAD)
6.1.4 Biventricular Assist Device (BIVAD)
6.2 Ventricular Assist Device Market by Application
6.2.1 Market Overview
6.2.2 Bridge-to-transplant (BTT) Therapy
6.2.3 Destination Therapy
6.2.4 Other Therapies
6.3 Ventricular Assist Device Market by End User
6.3.1 Hospitals
6.3.2 Diagnostic Centers
6.3.3 Ambulatory Surgical Centers
6.3.4 Others
6.4 Ventricular Assist Device Market by Region
6.4.1 Market Overview
6.4.2 North America
6.4.3 Europe
6.4.4 Asia Pacific
6.4.5 Latin America
6.4.6 Middle East and Africa
7 North America Ventricular Assist Device Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Ventricular Assist Device Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Ventricular Assist Device Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Ventricular Assist Device Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Ventricular Assist Device Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Regulatory Framework
12.1 Regulatory Overview
12.1.1 US FDA
12.1.2 EU EMA
12.1.3 INDIA CDSCO
12.1.4 JAPAN PMDA
12.1.5 Others
13 Patent Analysis
13.1 Analysis by Type of Patent
13.2 Analysis by Publication year
13.3 Analysis by Issuing Authority
13.4 Analysis by Patent Age
13.5 Analysis by CPC Analysis
13.6 Analysis by Patent Valuation
13.7 Analysis by Key Players
14 Grants Analysis
14.1 Analysis by year
14.2 Analysis by Amount Awarded
14.3 Analysis by Issuing Authority
14.4 Analysis by Grant Application
14.5 Analysis by Funding Institute
14.6 Analysis by NIH Departments
14.7 Analysis by Recipient Organization
15 Clinical Trials Analysis
15.1 Analysis by Trial Registration Year
15.2 Analysis by Trial Status
15.3 Analysis by Trial Phase
15.4 Analysis by Therapeutic Area
15.5 Analysis by Geography
16 Funding and Investment Analysis
16.1 Analysis by Funding Instances
16.2 Analysis by Type of Funding
16.3 Analysis by Funding Amount
16.4 Analysis by Leading Players
16.5 Analysis by Leading Investors
16.6 Analysis by Geography
17 Partnership and Collaborations Analysis
17.1 Analysis by Partnership Instances
17.2 Analysis by Type of Partnership
17.3 Analysis by Leading Players
17.4 Analysis by Geography
18 Supplier Landscape
18.1 Abiomed Inc.
18.1.1 Financial Analysis
18.1.2 Product Portfolio
18.1.3 Demographic Reach and Achievements
18.1.4 Mergers and Acquisitions
18.1.5 Certifications
18.2 BiVACOR Inc
18.2.1 Financial Analysis
18.2.2 Product Portfolio
18.2.3 Demographic Reach and Achievements
18.2.4 Mergers and Acquisitions
18.2.5 Certifications
18.3 Abbott Laboratories (St. Jude Medical Inc.)
18.3.1 Financial Analysis
18.3.2 Product Portfolio
18.3.3 Demographic Reach and Achievements
18.3.4 Mergers and Acquisitions
18.3.5 Certifications
18.4 Medtronic plc
18.4.1 Financial Analysis
18.4.2 Product Portfolio
18.4.3 Demographic Reach and Achievements
18.4.4 Mergers and Acquisitions
18.4.5 Certifications
18.5 Terumo Corporation
18.5.1 Financial Analysis
18.5.2 Product Portfolio
18.5.3 Demographic Reach and Achievements
18.5.4 Mergers and Acquisitions
18.5.5 Certifications
18.6 Fisher & Paykel Healthcare Limited
18.6.1 Financial Analysis
18.6.2 Product Portfolio
18.6.3 Demographic Reach and Achievements
18.6.4 Mergers and Acquisitions
18.6.5 Certifications
18.7 Evaheart, Inc.
18.7.1 Financial Analysis
18.7.2 Product Portfolio
18.7.3 Demographic Reach and Achievements
18.7.4 Mergers and Acquisitions
18.7.5 Certifications
18.8 Calon Cardio-Technology Ltd
18.8.1 Financial Analysis
18.8.2 Product Portfolio
18.8.3 Demographic Reach and Achievements
18.8.4 Mergers and Acquisitions
18.8.5 Certifications
18.9 Berlin Heart GmbH
18.9.1 Financial Analysis
18.9.2 Product Portfolio
18.9.3 Demographic Reach and Achievements
18.9.4 Mergers and Acquisitions
18.9.5 Certifications
18.10 AdjuCor GmbH
18.10.1 Financial Analysis
18.10.2 Product Portfolio
18.10.3 Demographic Reach and Achievements
18.10.4 Mergers and Acquisitions
18.10.5 Certifications
19 Ventricular Assist Device - Distribution Model (Additional Insight)
19.1 Overview
19.2 Potential Distributors
19.3 Key Parameters for Distribution Partner Assessment
20 Key Opinion Leaders (KOL) Insights (Additional Insight)
21 Company Competitiveness Analysis (Additional Insight)
21.1 Very Small Companies
21.2 Small Companies
21.3 Mid-Sized Companies
21.4 Large Companies
21.5 Very Large Companies
22 Payment Methods (Additional Insight)
22.1 Government Funded
22.2 Private Insurance
22.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
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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