The report on Ventricular Assist Device  Market by type of indication (left ventricular assist device, right ventricular assist device, bi-ventricular assist device), application (BTT, BTD, destination, BTR therapy) trends analysis and forecasts up to 2023 studies the market sizes, key trends and opportunities in the main geographies such as North America, Europe, Asia-Pacific, Rest of the World. According to the report the Global Ventricular Assist Device Market is projected to grow at a CAGR of 14.7% in terms of value over the period of 2017-2023. The growth in the world market is primarily driven by significant contribution by North America (Leading region) region to this market.

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A VAD or Ventricular Assist Device is an electromechanical pump that is implanted inside a person’s chest for assisting cardiac circulation, which is used to either to partially or to completely replace the function of a weakened heart. A ventricular assist device is dissimilar from an artificial cardiac pacemaker. An artificial cardiac pacemaker replaces the weak heart permanently, whereas a VAD works with the heart to help it pump more blood with less work. It does this by continuously taking blood from the ventricle and moving it to the aorta, which then delivers oxygen-rich blood throughout the body. Some of the ventricular assist devices are used for short term, typically for patients recovering from myocardial infarction and for patients recovering from heart surgery; and some are used for long-term, which includes for patients suffering from advanced congestive heart failure. Moreover, these ventricular assist devices are designed to assist either right ventricle or the left ventricle or to assist both ventricles. Among these, LVAD implantations are huge in number and accounted for highest market share due to a high number of patients suffering from left ventricular disease. Surgeons implant this device as a treatment option for severe heart conditions such as heart failures, and chronic cardiac function disorders. The ventricular assist devices mechanical pump has both internal and external components. The actual pump sits on or next to heart’s ventricle with a tube attached that routes the blood to aorta. A cable called driveline extends from the pump, out through the skin, and connects the pump to a controller and power sources worn outside the body. Ventricular assist devices are used in those patients who are suffering with class III and class IV advanced heart diseases as per New York Heart Association (NYHA) and patients who are waiting for not suitable for heart transplantation.

Market Insights

Some of the key driving factors attributing to the growth of this include increasing number of patients with cardiovascular diseases such as hypertension, heart failures and coronary artery diseases, and shortage of number of heart donors. In addition, changing lifestyle, alcohol consumption, growing obesity and smoking further were propelling the market growth, as these factors increase the bold glucose and lipid levels, which results in serious cardiovascular diseases. According to American Heart Association publication, it has been estimated that in the US alone approximately 5.5 million people suffered from heart failure in 2013 and 300,000 die each year because of heart failure. However, there are certain restraining factors which could hamper the growth of the market, which includes, high costs associated with the ventricular assist device implantation compared to other therapies available for CVD diseases and other serious complications such as severe bleeding, Immunosuppression, etc.

Segment Covered

The report on global ventricular assist device market covers segments such as, type of indication and application. On the basis of type of indication the global ventricular assist device market is categorized into left ventricular assist device (LVAD), right ventricular assist device (RVAD) and bi-ventricular assist device (BI-VAD). On the basis of application the global ventricular assist device market is categorized into BTT therapy & BTD therapy, destination therapy and BTR therapy.

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Geographic Coverage

The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2015-2023. 

The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China.  The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2017-2023.

Companies Profiled:

The report provides profiles of the companies in the global ventricular assist device market such as, Abiomed, Heart Ware International Inc., Thoratec Corporation, Berlin Heart GmbH, Apaxis, Inc., Sun Medical Technology Research, Terumo Corporation, ReliantHeart, Jarvik Heart and Others.

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Report Highlights:

The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global ventricular assist device market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of ventricular assist device market. Moreover, the study highlights current market trends and provides forecast from 2017-2023. We also have highlighted future trends in the ventricular assist device market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the ventricular assist device market to understand the present and future trends in this market and formulate their strategies accordingly.