The Ventricular Assist Device market size is expected to be worth around US$ 10.5 billion by 2030 was valued at US$ 2.8 billion in 2020 and is anticipated to grow at a CAGR of 20.3% during forecast period 2021 to 2030.
The Ventricular Assist Device market size is expected to be worth around US$ 10.5 billion by 2030 was valued at US$ 2.8 billion in 2020 and is anticipated to grow at a CAGR of 20.3% during forecast period 2021 to 2030.
Growth Factors
The rapidly growing global geriatric population is susceptible to chronic medical ailments such as diabetes, neurological disorders, cardiovascular diseases, stroke, and end-stage cardiac failure. The rising risks of organ failures and the growing demand for organ transplants due to these chronic ailments are contributing to the growth of the market for Ventricular Assist Devices (VADs). The development of innovative products and sophisticated miniature devices incorporated with features, such as infection control techniques, is expected to provide an impetus to the growth. The numerous benefits associated with the use of VADs, such as increased survival rate, durability, and functionality, are supporting the growing rate of adoption, and thereby boosting the market for VAD.
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The growing rate of globalization, increasing pursual of unhealthy lifestyle habits, minimal physical activity, increased consumption of junk food and beverages, and and alcohol consumption if leading to the high global prevalence of cardiovascular diseases.
Report Highlights
The market for VADs is expected to witness significant growth over the forecast period owing to the increasing prevalence of cardiovascular diseases and shortage of transplant organs
The Left Ventricular Assist Devices (LVAD) segment dominated the market for VAD and accounted for the largest revenue share of 90.5%. This growth is owing to the numerous procedures of LVAD implantations recorded amongst patients.
The Bi-ventricular Assist Devices (BiVAD) segment is anticipated to register the fastest growth rate of 28.7% over the forthcoming years. The increased use of pneumatically driven BiVADs in TAH transplantation is expected to boost product demand.
The non-pulsatile or continuous flow segment dominated the market for VAD and accounted for the largest revenue share of 99.5% owing to the benefits of the continuous flow VADs over pulsatile VADs. Continuous flow VADs have minimal noise, lesser rotating parts, lower maintenance, and rare replacements.
The implantable devices segment dominated the market for VAD and accounted for the largest revenue share of 81.5%. This growth is owing to the rising preference for long-term therapy methods by patients ineligible for heart transplant interventions, and therefore this segment is anticipated to grow at a lucrative rate over the forthcoming years.
The destination therapy segment dominated the market for VAD and accounted for the largest revenue share of 53.1%. This growth is attributable to the increase in end-stage cardiac failure incidences and cardiovascular diseases.
North America dominated the ventricular assist devices market and accounted for the largest revenue share of 64.1% in 2020. The availability of regulated reimbursement policies and coverages, increasing awareness regarding VADs such as bridge-to-recovery, destination therapies, and bridge-to-transplant are anticipated to drive the market for VAD in the forthcoming years.
| Report Coverage | Details |
| Market Size | US$ 10.5 billion by 2030 |
| Growth Rate | CAGR of 20.3% From 2021 to 2030 |
| Base Year | 2020 |
| Historic Data | 2017 to 2020 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Product, Type of Flow, Design, Application |
| Regional Scope | North America, Latin America, Europe, Asia Pacific, MEA |
| Companies Mentioned | Abiomed; Medtronic; Abbott; Berlin Heart; Cardiac Assist, Inc.; Jarvik Heart, Inc.; ReliantHeart, Inc.; Sun Medical Technology Research Corp |
Key Players
- Abiomed
- Medtronic
- Abbott
- Berlin Heart
- Cardiac Assist, Inc.
- Jarvik Heart, Inc.
- ReliantHeart, Inc.
- Sun Medical Technology Research Corp
Market Segmentation
- Product Outlook
- Left Ventricular Assist Device
- Right Ventricular Assist Device
- Bi-Ventricular Assist Device
- Total Artificial Heart
- Type Of Flow Outlook
- Pulsatile Flow
- Continuous Flow
- Application Outlook
- Bridge to Transplant
- Destination Therapy
- Others (Bridge to Recovery, Bridge to Candidacy, and Others)
- Design Outlook
- Implantable Ventricular Assist Device
- Transcutaneous Ventricular Assist Device
- Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
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