Global Ventricular Assist Device Market by Type Of Flow (Pulsatile Flow, Continuous Flow) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global ventricular assist device markets were valued at USD1.8 billion in 2020. They are expected to grow at a compound annual rate (CAGR), of 17.6% between 2021 and 2028. The growing number of people with chronic conditions like stroke, diabetes, neurologic disorders, hypertension, and cardiovascular disease are some of the main factors expected to drive demand for Ventricular Assistance Devices (VADs). The growing number of chronic diseases is being caused by rapid globalization and unhealthy lifestyles in both developing and developed countries. Demand for ventricular assist devices is expected to rise due to the rising incidence of cardiovascular disease. These diseases can increase the chance of organ failure. Due to the shortage of organ donors and delays in organ transplantations, the demand to use VADs will continue to grow over the next few years.

Market growth for VAD is largely due to the rise in chronic conditions and declining organ transplantations. The market will also be impacted by the rapid increase in geriatrics and rising natality over the forecast period. The VAD market is in constant evolution. Key players are investing in product development and innovation. The market for VAD will be driven by technological advancements and timely regulatory approvals. These include small-sized devices that have features such as infection control. Berlin Heart announced in June 2020 that the U.S. FDA had granted the Post Market Approval (PMA), for EXCOR pediatric VAD. Additionally, VAD adoption has many benefits. They increase product adoption and support market growth.

Organ transplant demand is increasing due to rising rates of cardiovascular disease and increased risks of organ failure. Organ transplantation is delayed by a shortage of organ donors. United Network for Organ Sharing estimates that nearly 121,016 people require organ transplantation, and around 77,725 are currently on the waiting list. Organ Procurement and Transplantation Network reports that there are 3,582 people on the heart transplant waiting list as of June 2020. Due to the shortage of organ donors, there has been an increase in demand for heart assist devices. According to estimates, 20 million Americans or Europeans have degenerative cardiac diseases. Most of these patients are currently on the waiting list for heart transplants. These factors are driving the market growth for VAD. The VAD procedures have shown improved results, have an increased applicability (LVAD), and are more durable. This has led to enhanced treatment options for patients with end-stage heart disease.

The demand for novel VADs, particularly for pediatric patients with cardiac disorders, is expected to rise due to the advancements in these devices. The U.S. FDA has rated the continuous-flow LVADs Micromed HeartAssist5TM Pediatric VAD and the Berlin HeartTMEXCOR pediatric VAD to pediatric patients. Berlin HeartTM EXCOR is approved for use as a bridge-to-transplantation device since 2011.

Bi-ventricular assist devices and total artificial hearts are two options for treating bi-ventricle dysfunction due to end-stage cardiac failure. End-stage heart patients with end-stage heart disease should consider the total artificial heart (TAH), which is an automated device that replaces the ventricles. Total artificial heart has many benefits, including blood flow restoration, improved survival rates, and a better quality of life. Venture capitalists and private equity firms are making investments in the VAD market to support product development. CorWave, for its innovative implantable heart pump, the wave membrane pump, raised USD 40.0 millions in a Series C round in January 2021. This was led by three new and returning investors: Novo Holdings (Bpifrance), Sofinnova Partners (Seventure), Ysios Capital and the European Commission.

With the government's temporary travel restrictions and lockdowns, the ongoing Covid-19 pandemic negatively affected the VAD market. This led to a decrease in surgical procedures. In Q4 FY2020, ABIOMED Impella's global revenue suffered due to decreased patient utilization, the significant COVID-19 pandemic impact on surgeries and elective medical procedures and fewer patients who sought treatment at hospitals. The constant strain of the pandemic led to deferrals in elective surgical interventions, which negatively affected the growth of VAD's market by decreasing product demand.

Product Insights

The market for VAD was dominated by the Left Ventricular Assist Devices segment (LVAD), which accounted for 80.5% of the largest revenue share. Patients have performed countless LVAD implantations. This is why there has been such a rapid increase in LVAD implantations. In 2018, Abbott had implanted the HEARTMATE II LVAD in more than 26,6000 heart failure patients around the world. According to the American College of Cardiology, readmissions after LVAD implantation were more expensive and required longer hospitalization periods. The market for VAD will grow in the coming years due to the increasing number of patients suffering from end-stage heart failure and the scarcity of treatment options. The American Heart Association also reported improvements in LVADs patient functionality, patient welfare and life span. This supports the adoption of LVADs. Market players are focusing their efforts on their mergers and collaboration strategies to address the shortage of organ donors and to cater to the growing demand for LVADs to bridge the gap to transplantation patients.

Bi-ventricular Assist devices (BiVADs) are expected to grow at 18.7% annually over the next few years. Product demand will rise due to the increased use of biVADs that are pneumatically driven in TAH transplantation. BiVADs work better than LVADs for patients with severe decompensated heart failure. They allow efficient functioning in the heart ventricles. BiVADs have the potential to increase the market for VADs and encourage rapid adoption.

Type of Flow Insights

The non-pulsatile, or continuous flow segment of VADs dominated the market in 2020 and accounted for the largest share of revenue at 92.5%. This is due to the advantages of continuous flow VADs over the pulsatile. Continuous flow VADs are quieter, have fewer rotating parts, require less maintenance and can be replaced easily. Continuous flow VADs have these advantages and are a popular choice for doctors and researchers. Continuous flow VADs is a segment that focuses on eliminating any moving parts. Abbott and Terumo Heart Inc are the key players in this segment. They have launched HeartMate 3 and DuraHeart LVADs, respectively.

Due to increasing heart disease and other cardiovascular diseases, the pulsatile flow VADs market is expected to grow at the fastest pace over the forecast period. The WHO estimates that 31% of all deaths from cardiovascular disease occurred in 2016. In 2016, 17.9 million people died due to them. American Heart Association data shows that pulsatile mechanical heart assist devices were adopted as a standard treatment in severe heart failure patients in March 2018. They can be used as a bridge or rehabilitation aid.

Design Insights

The market for VAD was dominated by the implantable device segment in 2020. It accounted for the largest share of revenue at 71.5%. This is due to patients who are not eligible for heart transplants but prefer long-term treatment methods. Therefore, this market is expected to grow at an impressive rate in the coming years. New players are entering the VAD market with new and innovative devices. FineHeart SARL, a medical technology company, is focusing on the development of miniature embedded, pulsatile flow VADs. Similar to Abbott's HeartMate 3LVAD, a magnetically-levitated (MagLev), technology-based heart pump is integrated with it. This helps reduce the blood loss caused by blood flowing through pumps during blood flow optimization. Implantable devices will also see the greatest growth during the forecast period. Transcutaneous VAD is different from an implant device. It is a VAD that is used for a short time during or after cardiac surgery. Transcutaneous VAD patients are limited to the hospital bed because of the VAD control unit's external setting. This limits the use of these devices and restrains growth.

Application Insights

Destination therapy dominated the VAD market in 2020 and represented 43.1% of the total revenue. This is due to an increase in cardiovascular disease and end-stage heart failure. Destination therapy applications use LVADs to treat heart patients not eligible for heart transplant surgery. Jarvik Heart Inc., Abbott and Medtronic are the key players in this market. FDA approval is expected for many of these products.

The fastest expected growth rate for the bridge to transplantation segment will be recorded over the forecast period. The VADs used in bridge to transplantation are only used for a short time (2 to 6 months) to stabilize patients during the transplant surgery. Due to technological advancements and a decrease in VAD-related complications, VAD use for bridge transplantation is becoming more widespread and accepted.

Regional Insights

North America was the dominant market for ventricular assist devices in 2020, accounting for 54.1% of the total revenue. In the coming years, the VAD market will be driven by the availability of regulated reimbursement policies, increased awareness about VADs like bridge-to–recovery, destination therapy, and bridge–to-transplant. The United States has the highest proportion of obese people, which makes them more susceptible to developing cardiovascular disease. The U.S. will see the growth of technology-enabled healthcare facilities, which is expected to increase the number of treatment options and stimulate market growth. Favorable reimbursement policies and insurance coverages that reduce out-of-pocket expenses are expected to support the rising treatment rate.

The market for VAD in Asia Pacific is expected to see the highest CAGR at 19.3% during the forecast period. This is due to improvements in healthcare facilities as well as favorable government strategies like the "Make in India" movement that encourages private and public partnerships in India. Asia Pacific's growth will also be driven by positive initiatives taken in other Southeast Asian countries by both public and private actors. Regional growth is also being boosted by the growing market for medical tourism in Asia Pacific, which provides high-quality and affordable treatment services.

Market Share Insights & Key Companies

To gain an advantage over their competitors in the market, key market players continue to invest in advanced ventricular assist devices. This will drive growth in the VAD market. The FDA approved the Impella ECP's First-in-Human Trial in June 2020. This device will be used to study high-risk patients undergoing percutaneous coronary interventions. They are also pursuing other strategies, such as mergers and acquisitions or expanding their manufacturing facilities in order to grow their business and expand the reach of their devices. The market leader in ventricular assist devices (VADs) is:

• Abiomed

• Medtronic

• Abbott

• Berlin Heart

• Cardiac Assist, Inc.

• Jarvik Heart, Inc.

• ReliantHeart, Inc.

• Sun Medical Technology Research Corp

Up Market Research published a new report titled “Ventricular Assist Device Market research report which is segmented by Type Of Flow (Pulsatile Flow, Continuous Flow), By Players/Companies Medtronic, Sun Medical Technology Research Corp, Cardiac Assist Inc, Abiomed, Abbott, Berlin Heart, Jarvik Heart Inc, ReliantHeart Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Ventricular Assist Device Market Report Segments:

The market is segmented by Type Of Flow (Pulsatile Flow, Continuous Flow).

Ventricular Assist Device Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Ventricular Assist Device Market

Overview of the regional outlook of the Ventricular Assist Device Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Ventricular Assist Device Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Ventricular Assist Device Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Pulsatile Flow

                2. Continuous Flow

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Ventricular Assist Device Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Ventricular Assist Device Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.