Ventricular Assist Device Market 2017 Research In-Depth Analysis, Applications, Forecasts To 2023

Our latest research report entitled 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)) provides complete and deep insights into the market dynamics and growth of Ventricular Assist Device. Latest information on market risks, industry chain structure Ventricular Assist Device cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential Ventricular Assist Device growth factors.

The forecast Ventricular Assist Device Market information is based on the present market situation, growth opportunities, development factors, and opinion of the industry experts. An in-depth analysis of the company profiles, Ventricular Assist Device on global and regional level and applications is conducted. The analysis of downstream buyers, sales channel, raw materials, and industry verticals is offered in this report. According to report the global ventricular assist devices market is projected to grow at a CAGR of 9.5% over the forecast period of 2018-2024.

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An electromechanical device used for assisting cardiac circulation, which is used to partially or completely replace the function of a failing heart is known as a ventricular assist device. The VADs are used for short-term, for patients recovering from heart attack and for patients recovering from cardiac surgery; the patient suffering from advanced congestive heart failure use long-term VADs. VADs are different from artificial hearts, which are designed to undertake cardiac function, and generally, need the removal of the patient's heart. Moreover, VADs are designed to support either the right ventricle (RVAD) or the left ventricle (LVAD) or to assist both ventricles (BiVAD). The left-ventricle assistance device (LVAD) is the common device applied to a defective heart, but when the pulmonary arterial-resistance is high, then a right-ventricle assistance device (RVAD) might be necessary to resolve the problem of cardiac circulation. If both an LVAD and an RVAD is needed a BiVAD is normally used.

Growth in the incidence of patients with heart failure and lack of heart donors is likely to boost the growth of the market. In addition, raising the incidence of cardiovascular diseases such as coronary artery disease, hypertension, and heart failure. Moreover, growing the occurrence of diabetes, genetic factors, lifestyle factors such as tobacco consumption, junk food, alcohol addiction, substance abuse, are likely to contribute to cardiovascular disease population. On the other hand, high cost associated with devices and its implementation and high risks involved with a VAD implantation procedure is likely to hamper the growth of the market. Furthermore, research and development carried on the innovation of the novel device are likely to bring more opportunities to the market. For instance, in 2017, Heartmate III has been approved by the FDA. It is smaller than its predecessor HeartMate II and uses a full maglev impeller instead of the cup-and-ball bearing system found in HeartMate II.

Among the regions, North America is expected to be the largest market for VAD. Rising occurrence of cardiovascular diseases developed healthcare infrastructure, high patient awareness levels and better compensation policies for implantation procedures is the key factors drive the growth in this region. According to CDC, about 5.7 million adults in the U.S. have heart failure. The constant improvement in healthcare infrastructure in emerging countries such as India is likely to drive the growth of the Asia-Pacific region.

The merger and acquisition and business expansion are the key strategies of the leading player in this market. For instance, Abbott signs definitive agreement to acquire St. Jude Medical to create a premier medical device leader with top positions in high-growth cardiovascular markets, including atrial fibrillation, structural heart, and heart failure, in 2016. Medtronic acquires HeartWare International to expand heart failure portfolio in 2016.

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