Ventricular assist devices are the mechanical pump, which is implanted in patients with heart failure. The main purpose of the ventricular assist device is to unload the failing heart and help maintain blood flow to vital organs. In case of bridge-to-transplant therapy or destination therapy, ventricular assist devices are typically placed through a chest incision after the patient has been placed on the bypass machine.
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The key players that operate in the global ventricular assist devices market include Abiomed, Inc., Berlin Heart GmbH, Boston Scientific Corporation, Calon Cardio, Jarvik Heart, Inc., LivaNova PLC, Medtronic plc, ReliantHeart Inc., Abbott Laboratories, and Terumo Medical Corporation.
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- By type, the left ventricular assist devices segment was the highest contributor to the ventricular assist devices market in 2020.
- On the basis of indication, the bridge-to-transplant dominated the market in 2020, and is expected to continue this trend during the forecast period.
- On the basis of Application, the transcutaneous ventricular assist devices segment dominated the ventricular assist device market in 2020, and is expected to continue this trend during the forecast period
- Region wise, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
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The major factors that contribute to the ventricular assist devices market growth include, technological advancements in ventricular assist devices, awareness among patients about monitoring of the heart, and treatment options for management of cardiac disorders. In addition, rise in concerns to decrease surgical injuries propels the growth of the market. Furthermore, as per iData Research, approximately 13 million laparoscopic surgeries were performed globally every year. Further, the FDA aims to enhance availability of appropriate, reliable, and accurate ventricular assist devices to meet public health needs and increase access to treatments for consumers.
Moreover, advancements in ventricular assist devices have led to higher success rates in treatment of heart failures. Earlier, the devices that were used had certain shortcomings, such as high risk of infection, thrombus formation, and blood trauma. To address such complications, modifications were done in VADs to improve efficiency and durability. The devices, such as the second-generation device, HeartMate II, displayed increased functional capacity and performance. Third-generation devices, such as DuraHeart and HeartMate III were further developed that incorporated features such as smaller size, lower rotational speeds, higher efficiency, and enhanced anatomic design. Thus, with the development of more effective VADs, the market is expected to witness significant growth in the near future, thereby propelling growth of the ventricular assist devices market.
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