Ventricular assist devices (VADs) are essentially supporting pumps that assist the weak lower chambers of the heart to pump blood to body parts. In case of patients with weak hearts, VADs help in maintaining the blood flow from a weak lower chamber to the aorta and the other body parts. The control unit and the battery pack of VADs are typically placed outside the body.
The global VADs market is driven by factors such as growing incidence of cardiac disorders across the globe, new technological advancements in VADs, awareness among patients about treatment options for management of cardiac disorders, and presence of high, unmet medical needs in developing and under-developed regions. However, the market is restrained by limited insurance coverage, and high cost of these devices (especially in developing nations). The emerging economies of Asia-Pacific and LAMEA are expected to provide numerous opportunities for market growth during the forecast period.
The report segments the market based on product, application, design, end-user, and geography. Based on product, the market is divided into left ventricular assist devices, right ventricular assist devices, and biventricular assist devices. VADs find their application in BTT and BTD therapies, destination therapy, and BTR therapy. Based on design, the market is segmented into percutaneous VADs and implantable VADs. The prominent end-users of VADs are hospitals and ambulatory surgical centers. Geographically, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Italy, UK, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The major companies profiled in the report include Abiomed, Inc., Berlin Heart GmbH, Biotronik SE & Co. KG, Boston Scientific Corporation, HeartWare International, Inc., Jarvik Heart, Inc., LivaNova PLC, Medtronic plc, ReliantHeart Inc., and St. Jude Medical, Inc. (recently acquired by Abbott Laboratories).
Key Benefits for Stakeholders
- The study provides an in-depth analysis of the market with current trends and future estimations to elucidate the imminent investment pockets.
- It offers a quantitative analysis from 2014 to 2022, which is expected to enable the stakeholders to capitalize on prevailing market opportunities.
- Extensive analysis by product helps in understanding the various types of nanomedicines used for treatment of cardiac disorders.
- Comprehensive analysis of all geographical regions is provided, which helps in determining the prevailing opportunities.
- Key players are profiled and their strategies are analyzed thoroughly, which helps in understanding competitive outlook of the global market.
Ventricular Assist Devices Market Key Segments
- Left Ventricular Assist Devices (LVADs)
- Right Ventricular Assist Devices (RVADs)
- Biventricular Assist Devices (BIVADs)
- BTT and BTD Therapies
- Destination Therapy
- BTR Therapy
- Percutaneous Ventricular Assist Devices
- Implantable Ventricular Assist Devices
By End User
- Ambulatory Surgical Centers (ASCs)
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South Africa
- Saudi Arabia
- Rest of LAMEA