A Service For Professionals Saturday, November 25, 2017
Contact (202) 540-8337
A Service For Professionals Saturday, November 25, 2017 11614 Sources 417,614,874 Articles 3,022,490 Readers
Contact (202) 540-8337

IQ4I Research published a new report on “Ventricular Assist Devices (VAD) Global Market – Forecast To 2023”

The VAD is a mechanical pump that support heart function and blood flow of the ventricles. Rising heart failures and shortage of donor hearts is driving market.

Ventricular Assist Devices (VAD) Global Market estimated to be worth $2,850.1 million by 2023”
— IQ4I Analyst

BOSTON, MASACHUSETTS, U.S., June 12, 2017 /EINPresswire.com/ -- Ventricular assist devices (VAD) are mechanical circulatory support devices used to treat end stage heart failure. These devices can support the function of the left (LVAD), right (RVAD), or both heart ventricles (BiVAD). The VAD includes pulsatile or continuous flow pump type to pump blood to support left, right or both ventricles and cannula to carry blood out of heart to blood vessels, a power source, and a control unit to monitor device function. The device is majorly implanted to support heart while patients are waiting for a heart transplant (BTT), to help heart work better if patients are not eligible for a heart transplant (DT/BTD), and can be used to support the heart until it recovers (BTR). Technological advancements, improved success, and low availability of donor hearts led to widespread acceptance of Ventricular assist devices. According to IQ4I Analysis, VAD market is expected to grow at a high CAGR to reach $2,850.1 million by 2023.

Increase in prevalence of cardiovascular disorders due to rise in aging population and increasing in incidence of heart failure, increasing number of circulatory assist procedures, shortage of heart donors, rise in the number of clinical studies performed, increasing prevalence of lifestyle diseases are some of the drivers of the market. Technology advancements and growing healthcare budgetary allocation, growth in emerging countries, and increase in patient awareness for circulatory assist devices, increasing funds for LVAD research are some of the opportunities that are propelling the growth of the market. However, adverse events and complication with the implantations of VAD, lack of skilled and trained professionals, high cost of VAD devices, reimbursement issues in emerging countries are some of the restraints of the market. Stringent regulatory requirements and availability of alternate products are some of the threats of the market.

The Ventricular assist devices (VAD) global market by products is segmented into Left Ventricular Assist Devices (LVAD), Right Ventricular Assist Devices (RVAD), Biventricular Assist Devices (Bi-VAD). VAD market by implant type is segmented into Pulsating or Pneumatic Pump and Continuous Flow Pump (Axial flow pump and Centrifugal flow pump), VAD market by implant type is segmented in to Extracorporeal VAD, Intracorporeal VAD, Percutaneous VAD, by patient type is segmented into Adult and Pediatric VAD and by application is segmented into Bridge to
Transplant (BTT), Bridge to destination (BTD), Bridge to Recovery (BTR).

Among the products LVAD held the highest share and expected to grow at a mid double digit CAGR by 2023. VAD market by implant type is dominated by Intracorporeal VAD, which held highest share in 2016 and expected to grow at low double digit CAGR by 2023. Percutaneous VAD segment is the fastest growing market with a high double digit CAGR during forecasting period. Abiomed, U.S. based medical device company has developed world’s smallest catheter based percutaneous heart pump that provides hemodynamic support to the heart. Abiomed is leader in percutaneous VAD market. Abiomed Impella heart pump (Impella series - Impella 2.5, Impella 5.0, Impella CP, and Impella RP) is FDA approved and presently is one of the factors for driving Ventricular assist devices market.
Among the Ventricular assist devices applications, Bridge to Transplant (BTT) held major share in 2016 expected to grow at low single digit CAGR by 2023. Bridge to Recovery segment is the fastest growing market with a high double digit CAGR from 2016 to 2023.

Basically the VAD was developed to strengthen weakened hearts and to act as a “Bridge to Transplant” for patients waiting for a donor heart. In recent years, due to technological advancements the VAD has evolved to support a failing heart permanently i.e. bridge to destination or destination therapy. Therefore the bridge to transplant market is converting into bridge to destination in recent years. The Bridge to Destination global market is expected to grow at mid double digit CAGR by 2023.

Miniaturization of implantable ventricular assist devices, wireless heart pump, VAD apps, and are some of the technological advancements that are going to drive the Ventricular assist devices market in coming years. For instance, ReliantHeart, Inc., and Dualis MedTech GmbH, a provider of wireless energy and charging technology, entered into a partnership to implement a wireless, Transcutaneous Energy Transfer system (TET) exclusively for the HeartAssist5 Ventricular Assist Device. Dualis plans to integrate its wireless energy transfer technology MedBase with the HeartAssist5 VAD. Procyrion’s aortix is a catheter based small and continuous heart pump for heart failure patients, designed to help assist the heart muscle and boost localized blood flow, instead of operating in heart, it is perched in the aorta. Procyrion’s aortix device is not yet commercially available and requires regulatory approval from FDA. The launch of these technologies will boost the percutaneous Ventricular assist devices market in coming years.

Companies such as Medtronic and Abbott are ahead of other companies are considered to be leaders in this space with their marketed products and strong pipelines. Abbott is leading the Ventricular assist devices market with highest market share, followed by Abiomed and Medtronic in ventricular assist devices market. The VAD market is highly consolidated, major companies are strategically acquiring VAD companies to become leading players in the market. For instance, World Heart Corporation was acquired by Heart Ware International, which was acquired by Medtronic in August 2016. Similarly, Levotronix was acquired by Thorotech Corporation, which was acquired by St. Jude medical which inturn is acquired by Abbott Laboratories in January 2017.

The Ventricular assist devices global market based on geography is divided into North America, Europe, Asia-Pacific and Rest of the world. North American region commanded the largest revenue in 2016 and expected to grow at mid double digit CAGR from 2016 to 2023. A high prevalence of cardiovascular diseases such as heart failure, cardiogenic shock, dilated cardiomyopathy, ventricular insufficiency, Valvular heart disease, congenital heart diseases and growth in aging population and shortage of heart donors led the market growth in this region. However, Asia-Pacific is expected to grow at high double digit CAGR by 2023 owing to the rapidly increasing aging population with high prevalence of cardiovascular diseases, improving healthcare infrastructure and rise in healthcare spending in the emerging countries, such as India and China.

Major players in the Ventricular assist devices global market are Abbott laboratories (U.S.), Medtronic (Ireland) and Abiomed, Inc. (U.S.). Some of the emerging players in the VAD market include Berlin Herat GmbH (Germany), ReliantHeart, Inc. (U.S.), Jarvik Heart, Inc. (U.S.), Evaheart, Inc. (U.S.) and Tandemlife (U.S.), Fresenius Medical Care (Germany), Leviticus-Cardio Ltd. (Israel), Procyrion (U.S.), etc.

Mr. Sattish Biruddukota
IQ4I Research & Consultancy Pvt Ltd.,
+91-80-60500229
email us here

Powered by EIN Presswire