Home >> News >> Business >> Ventricular Assist Devices Market Is Expected To Reach US$ 2,323.41 Mn By 2025

Ventricular Assist Devices Market Is Expected To Reach US$ 2,323.41 Mn By 2025

The latest market report published by Credence Research, Inc. “Ventricular Assist Devices Market – Market Growth, Future Prospects, Competitive Analysis, 2017 – 2025,” the global ventricular assist devices market was valued at US$ 1,036.08 Mn in 2016, and is expected to reach US$ 2,323.41 Mn by 2025 expanding at a CAGR of 8.85% from 2017 to 2025.

Browse the full report Ventricular Assist Devices Market – Market Growth, Future Prospects, Competitive Analysis, 2017 – 2025 at https://www.credenceresearch.com/report/ventricular-assist-devices-market

Market Insights

According to the World Health Organization, approximately 17.7 million people died from cardiovascular complications in 2015, which represents 31% of all global deaths. Among these deaths, 7.4 million occurred due to coronary heart disease and 6.7 million due to stroke. Most of the cardiovascular diseases can be prevented by addressing behavioral risk factors such as tobacco use, unhealthy diet, obesity, physical inactivity and alcohol abuse, using population wide strategies.

Ventricular assist devices market is segmented into right ventricular assist device, left ventricular assist device and bi-ventricular assist device market. In 2016, the left ventricular assist devices segment is leading market due to factors such as rising number of patients suffering with cardiac complications like cardiomyopathy, stroke and class III & class IV heart failure waiting for a heart transplant. Right ventricular assist devices are anticipated to register faster growth throughout the forecast period 2017-2025 majorly due to rise in number of geriatric patients suffering with cardio-pulmonary complications like congestive heart failure and pulmonary hypertension.

Among the considered application areas, bridge to therapy (BTT) held the largest market for the base year 2016, majorly due to factors such as rising prevalence of congestive heart failure and increasing number of advanced heart failure patients awaiting heart transplantation. Additionally, bridge to destination (BTD) segment will be the fastest growing market throughout the forecast period 2017-2025, majorly due to factors such as non-eligibility of senescent patients for heart transplant, patients deemed too old and compromised immunity to undergo heart transplantation can survive with LVAD throughout their lifespan.

In 2016, North America held the largest revenue share chiefly due to factors such as rising prevalence of cardiovascular disease, existence of advanced healthcare and affordable reimbursement scenario. Asia Pacific will be the fastest growing market throughout the forecast period 2017-2025, majorly due to factors such as increasing patient pool suffering with cardiovascular complications, large population addicted to alcohol and smoking, unhealthy eating habits and stress; presence of major players involved in the manufacture of ventricular assist devices and increasing disposable income.

The ventricular assist device market is technologically driven and includes major players such as St. Jude Medical, LLC. HeartWare International, Inc., Reliant Heart, Thoratec Corporation, Abiomed, Berlin Heart, Inc., Cardiac Assist, Inc., Jarvik Heart, Inc., Sun Medical Technology Research Corp., Syncardia System, Inc. etc.

Based on type, the global ventricular assist devices market is categorized into

  • Left Ventricular Assist Devices
  • Right Ventricular Assist Devices
  • Bi-Ventricular Assist Devices

ventricular-assist-devices-market

Ventricular assist device is a mechanical pump which takes blood from a lower chamber of heart and pumps it to the body and vital organs. They are used for short duration in patients recovering from myocardial infarction or cardiac surgery, whereas long term use is for patients suffering from total heart failure and patients suffering class III & class IV heart failure waiting for a heart transplant. Rise in lifestyle diseases like cardiomyopathy, diabetes and stroke, higher efficacy, better patient suitability and easy availability at low cost is fuelling the ventricular assist devices market growth. In 2016, left ventricular assist devices held the largest market share due to rising number of patients suffering with left ventricular damage i.e. cardiomyopathy, and reduction in the number of heart donors. Right ventricular assist devices segment is anticipated to register faster growth throughout the forecast period 2017-2025, majorly due to increasing number of patients suffering with congestive heart failure and pulmonary hypertension. Overall, the global ventricular assist devices market is highly competitive with presence of multiple players like Thoratec, Abiomed, St. Jude Medical, LLC., Reliant Heart Inc., HeartWare International, Inc., SynCardia System Inc., etc. specializing in respective fields. Technological advancement in the device design, raw material and manufacturing has been significant from the first generation devices containing pulsatile volume displacement pumps powered by pneumatic or electrical drive system, which were later replaced with the second generation continuous flow pumps.

Based on application areas, the global ventricular assist devices market is categorized into

  • Bridge to Transplant (BTT)
  • Bridge to Destination (BTD)
  • Bridge to Recovery (BTR)

ventricular-assist-devices-market

According to the European Society of Cardiology (ESC), 17%-45% of heart failure patients admitted in hospitals worldwide die within 1 year of admission. The British Heart Foundation (BHF) claims that the causative agent for heart failure are heart valve problems, abuse of alcohol or recreational drugs, arrhythmia, congenital heart disease, viral infection of the heart muscles etc. In 2016, bridge to transplant segment dominated the application market significantly due to factors such as rising prevalence of congestive heart failure and increasing number of patients which showed failure in optimal medical management and are at a risk of imminent death and require immediate heart transplantation. Bridge to destination segment will be the fastest growing segment in the application market throughout the forecast period 2017-2025, majorly due to factors such as large number of patients are deemed too old for a heart transplant, compromised immunity, left ventricular ejection fraction less than 25% and can survive with a LVAD throughout their lifespan. Bridge to recovery offers a lucrative market opportunities as it is finding huge application in patients with temporary heart failure, patients recovering from heart surgery get VAD implanted until the heart is strong enough to pump blood.

For the purpose of this study, the global ventricular assist devices market is categorized into the following regional and country specific markets:

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC
    • Rest of Middle East and Africa

Ventricular Assist Devices Market

North America was observed to be the largest market for ventricular assist devices in the base year 2016. According to the Centers for Disease Control and Prevention about 610,000 Americans die each year due to heart disease, which represents 1 in every 4 deaths. The dominance of North America is mainly attributed to rise in lifestyle diseases such as cardiovascular disease, stroke and chronic pulmonary hypertension, shift in lifestyle with increased drug abuse, binge drinking and consumption of fast food and evolved reimbursement scenario favoring ventricular assist devices use. According to the European Cardiovascular Disease Statistics – 2017, each year CVD causes 3.9 million deaths in Europe and 1.8 million deaths in the European Union. The market growth in Europe is chiefly attributed to increasing number of patients suffering with cardiovascular complications, and supportive regulatory approval for ventricular assist devices market. Asia Pacific will be the fastest growing regional segment throughout the forecast period 2017-2025. Factors that propel the market growth are rising prevalence of geriatric population suffering from cardiac complication, increasing healthcare expenditure in these regions and increasing disposable incomes. Factors such as developing health infrastructure, increasing awareness and increasing demand for ventricular assist devices are going to fuel the rapid growth of ventricular assist devices market in Latin America, and Middle East and Africa region in the near future…

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