Ventricular Assist Device are mechanical pumps which support the functioning of the heart in individuals who have a weak heart. This device is used for a short-term period for individuals recovering from myocardial infraction or individuals recovering from cardiac surgery, and for long term use in individuals suffering from total heart failure. This is generally implantable and transcutaneous depending on the individual heart condition.
The Global Ventricular Assist Device Market was valued at $ XX in 2018 and is forecasted to grow at a strong XX% CAGR between 2018 and 2026, resulting in 2026 global sales of $XX. Market-driven Shortage of transplant organs and growing prevalence of cardiovascular diseases are some of the components propelling the market. However, Insurance coverage is limited in emerging countries and high cost and serious risks involved with a VAD implantation procedure such as blood clots and bleeding are some of the components hampering the market. Moreover, technological development in VADS will provide ample of opportunities in the market
Ventricular Assist Device in Healthcare Market depending on the product, the left ventricular assist device (LVAD) segment is dominated due to increasingly becoming a prevalent treatment option for individuals suffering from Stage-D heart failure with a reduced ejection fraction. LVAD was initially designed for patients who required short-term circulatory support as a bridge to recovery after open-heart surgery. Combination therapy applying an LVAD for mechanical unloading and medical heart failure therapies are known to affect positively on myocardial remodeling and survival has yielded a varying degree of achievement in improving chronic cardiomyopathy syndromes.
The Global Ventricular Assist Device Market is segmented on the basis of product, design, application, and regions.
Based on the Products: Left ventricular assist device (LVAD), Right Ventricular Assist Device, RVAD), Bi-ventricular assist device (BIVAD), percutaneous ventricular assist devices and the total artificial heart.
Based on the Designs: Transcutaneous Ventricular Assist Devices and Implantable Ventricular Assist Devices
Based on the Applications: Bridge-to-recovery (BTR) Therapy, Destination Therapy, Bridge-to-candidacy (BTC) Therapy and Bridge-to-transplant (BTT) Therapy
Based on Region: North America, Asia-Pacific, Europe, and LAMEA. Among that North America region is projected to witness high growth during the forecast period due to favorable reimbursement policies, recent technological advancements and growing population are suffering from cardiac disease in the countries like united states are expanding the growth in the North America region that are influencing the market. There are indications for the bridge to transplantation or destination therapy, which fosters more appropriate timing of implantation to meet the patient's clinical needs in the US.
The key players of the Global Ventricular Assist Device Market include Medtronic, Abbott, SynCardia Systems, LLC, Abiomed, etc...
Report Description: The report covers in-depth analysis of the Global Ventricular Assist Device Market. The report assesses the market products pipeline by-product (Left ventricular assist device (LVAD), Right Ventricular Assist Device, RVAD), Bi-ventricular assist device (BIVAD), percutaneous ventricular assist devices and total artificial heart), by design (Transcutaneous Ventricular Assist Devices and Implantable Ventricular Assist Devices), by application (Bridge-to-recovery (BTR) Therapy, Destination Therapy, Bridge-to-candidacy (BTC) Therapy and Bridge-to-transplant (BTT) Therapy).In addition, the report includes key insights on other development activities, including (but not limited to) – licensing (In and Out), collaborations, acquisitions, reimbursement, patent, and regulatory designations.
The report includes in-depth company profiles of key players in the Global Ventricular Assist Device in the Healthcare Market. The company profile includes key information on the overview, financial highlights, product portfolio, business strategies, and key recent developments.
The report highlights information on emerging companies with potentially disruptive technologies and new market entrants.
Data Collation (Primary & Secondary)
In-house Estimation (Based on proprietary databases and Models)
Market-related information is assembled from both primary and secondary sources.
Primary sources involved participants from all global stakeholders such as experts from several related industries and suppliers that have been interviewed to obtain and verify critical information as well as to assess prospects of the market. The participants included are CXOs, VPs, and managers. Plus, our in-house industry experts having decades of industry experience contribute their consulting and advisory services.
Secondary sources include public sources such as regulatory frameworks, government IT spending, government demographic indicators, industry association statistics, and company publications annual reports press releases along with paid sources such as Factiva, OneSource, Bloomberg among others.
Top-down and bottom-up approaches: The overall market size was used in the top-down approach to estimate the sizes of other individual submarkets (mentioned in the market segmentation by product, type of manufacturing, and disease) through percentage splits from secondary and primary research. The bottom-up approach was also implemented (wherever applicable) for data extracted from secondary research to validate the market segment revenues obtained.