Ventricular Assist Devices Market Expected to Reach $4.1 Billion by 2035

According to a new report published by Allied Market Research, titled, “Ventricular Assist Devices Market," The ventricular assist devices market was valued at $1.6 billion in 2023, and is estimated to reach $4.1 billion by 2035, growing at a CAGR of 8.1% from 2024 to 2035.

A ventricular assist device is a mechanical pump that utilizes battery to assist the heart's right or left ventricle or both ventricles in pumping blood out of the heart. Heart failure, a condition where the heart is unable to pump enough blood to satisfy the requirements of the body, is treated with ventricular assist devices (VADs). When a heart transplant is the only treatment available for the patient, ventricular assist device can be used either as destination therapy or a bridge to transplant. In addition, in a patient awaiting a heart transplant, ventricular assist devices can potentially be administered as a temporary measure until the transplant is done.

Lack of heart donors leads to rise in demand for ventricular assist devices for patients with weak or failing hearts. Factors such as low organ donation rates, medical conditions that disqualify potential donors, lack of public awareness about organ donation, and inefficient organ procurement & distribution systems are factors leading to low number of heart donors. Hence, leading to rise in demand for artificial mechanical pumps, which support heart function and blood flow in patients, and is expected to boost the ventricular assist devices market trends. 

In addition, when a patient is unable to undergo a heart transplant, ventricular assist devices help the heart function better while seeking a suitable heart donor. Thus, the current shortage of heart donors and rise in heart failure incidences have made VADs a trustworthy option for utilization as bridge therapy or as destination therapy. This contributes to the expansion of the ventricular assist devices market.

Depending on product, the ventricular assist devices industry is fragmented into left ventricular assist devices (LVADs), right ventricular assist devices (RVADs), and biventricular assist devices (BIVADs). The left ventricular assist devices (LVADs) segment accounted for the largest ventricular assist devices market share in terms of revenue in 2023 and is expected to maintain its lead during the forecast period. This increase in adoption of LVADs is mainly attributed as it is used more commonly than RVADs for several reasons such as the left ventricle is the main pumping chamber of the heart and providing support to the left ventricle can have a significant impact on overall heart function. Furthermore, heart failure is typically caused by dysfunction in the left ventricle, so LVAD can address the root cause of the condition. In addition, the availability of LVADs and the preference over RVAD device owing to their safety and efficacy is further contributing to the segment growth.

Depending on application, the ventricular assist devices industry is bifurcated into bridge-to-transplant (BTT), destination therapy, bridge-to-recovery (BTR), and bridge to candidacy therapy. The bridge-to-transplant (BTT) segment accounted for the largest ventricular assist devices market share in terms of revenue in 2023 and is expected to maintain its lead during the forecast period. This is attributed to rise in awareness among people regarding bridge-to-transplant therapy, which has significantly increased the success rate of transplant surgeries. However, the destination therapy segment is expected to exhibit the fastest CAGR during the forecast period as VADs have become a prominent solution for people with heart failure and for those who are ineligible for heart transplantation.

By design, the ventricular assist devices market analysis is segregated into transcutaneous ventricular assist devices and implantable ventricular assist devices. The implantable ventricular assist devices segment accounted for the largest ventricular assist devices market size in terms of revenue in 2023 and is expected to maintain its lead during the forecast period owing to technological advancements in the field of VADs and rise in research activities to develop efficient and high quality implantable ventricular assist devices.

Depending on age, the market is bifurcated into adults and pediatrics. The adults segment accounted for the largest ventricular assist devices market size in terms of revenue in 2023 and is expected to exhibit the fastest CAGR during the ventricular assist devices market forecast period owing to technological advancements in the field of VADs and development of pediatric VADs that are highly efficient in treating heart failure in pediatric patients.

Region-wise, North America garnered the largest share in terms of revenue in 2023 and is expected to maintain its lead during the forecast period. This is primarily attributed to rise in prevalence of heart failure, high adoption of technologically advanced ventricular assist devices, developed healthcare infrastructure, and increase in patient awareness about the availability of treatment options for heart failure. However, Asia-Pacific is expected to exhibit the fastest growth during the forecast period. This is attributed to the surge in demand for sophisticated ventricular assist devices, large number of healthcare reforms, high prevalence of cardiac disorders, and increase in focus of key players to develop technologically advanced & cost-effective devices.

Key Findings of the Study 

• On the basis of product, the left ventricular assist devices (LVADs) segment dominated the market in terms of revenue in 2023 and is anticipated to grow at the fastest CAGR during the forecast period. 
• By application, the bridge-to-transplant (BTT) was the major revenue contributor in 2023. However, the destination therapy segment is anticipated to register the fastest CAGR during the forecast period.
• Depending on design, the implantable ventricular assist devices segment accounted for the highest revenue in 2023 and is anticipated to grow at the fastest CAGR during the forecast period.
• On the basis of age, the adult segment accounted for the highest revenue in 2023. However, the pediatrics segment is anticipated to grow at the fastest CAGR during the forecast period.
• Region-wise, North America generated the largest revenue in 2023. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.