A research study
titled, “Ventricular
Assist Devices Market
by Product, Application, Design, and End User - Global Industry Analysis and
Forecast to 2025” published by Crystal Market Research, states that the VADs
market is projected to be around $2.5 billion by 2025.
A ventricular assistive device (VAD) is an implantable
mechanical pump that facilitates pumping of blood from lower chambers of the
heart to rest of the body. The device aids the patients affected by congestive
heart failure to support normal blood pumping function of the heart while the
patient is waiting for a transplant. Congestive heart failure is a chronic
condition in which the heart is unable to pump blood to different parts of the
body. As per American Heart Association, more than six million Americans are
living with heart failure and 10% of them are having advanced heart failure.
However, therapies such as LVADs are dramatically improving the quality life of
people with advanced heart failure. These patients benefit from LVADs; while
waiting for a heart transplant or can obtain long-term support from LVADs if
they are not candidates for a transplant.
Browse full research report with TOC on “Ventricular
Assist Devices Market by Product, Application, Design, and End User - Global
Industry Analysis and Forecast to 2025” at: https://www.crystalmarketresearch.com/report/ventricular-assist-devices-market
Left ventricular assist devices (LVADs) segment accounted
for almost three-fourth of the global market in 2016. This large share is due
to its advantages to support the function of left, right, or both heart
ventricles. LVADs are used to support patient’s heart until it recovers or
while the patient is waiting for a heart transplant.
Bridge to transplantation (BTT) and bridge to decision
(BTD) therapies segment leads the global VADs market. This segment accounted
for more than half of the overall market in 2016. BTT therapy implants VADs for
heart management in patients who have had severe heart failure and are waiting
for heart transplant; while BTD therapy implants VADs in patients for whom the
physician is not sure if the patient is an ideal candidate for a transplant.
Percutaneous VADs (pVADs) are specific types of VADs.
PVADs are less invasive in nature and differ in design and use as compared to
traditional VADs. These are alternative to a traditional VAD or IABP
(intra-aortic balloon pump) for short-term hemodynamic support. These are used
during emergent procedures for patients in acute heart failure due to left
ventricular dysfunction or cardiogenic shock.
North America accounted for more than half of the overall
market in 2016. This large share is attributed to a number of factors such the
presence of advanced healthcare infrastructure and increased adoption of
technologically advanced products. Asia Pacific is expected to witness
lucrative market growth over the forecast period, due to the availability of
untapped and unsaturated markets coupled with rising demand for VADs. Rapid
economic development along with increasing patient awareness levels is a major
avenue for the companies in the VADs industry.
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The global VADs market is highly consolidated with major
players acquiring smaller vendors. Some of the major companies include Abiomed,
Inc., Boston Scientific Corporation, Biotronik SE & Co. KG, LivaNova PLC,
Medtronic plc, Berlin Heart GmbH, ReliantHeart Inc., HeartWare International,
Inc., Jarvik Heart, Inc., and St. Jude Medical, Inc. (recently acquired by
Abbott Laboratories).
Key
Findings of the Research Study:
·
LVADs segment accounted for the largest share
of the global market in 2016 and is projected to maintain its lead over the
forecast period. This large share is attributed to the growing number of people
with damage in left ventricular.
·
U.S. dominated the overall VADs market in
2016 and is projected to dominate the market during the forecast period, due to
rising prevalence of cardiovascular diseases such as heart failure and stroke,
favorable reimbursement policies for implantation, and increased patient
awareness about the treatments.
·
Asia-Pacific is projected is poised to grow
at the highest CAGR during the forecast period, due to presence of high unmet
medical needs, rising disposable income of patients, and the constantly
improving healthcare infrastructure.
·
Thoratec Corporation leads the global VADs
market by accounting for more than two-third share in 2016.
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Ventricular
Assist Devices Market Segmentation
By Product:
- Right Ventricular Assist Devices (RVADs)
- Left Ventricular Assist Devices (LVADs)
- Biventricular Assist Devices (BIVADs)
By Application:
- Destination Therapy
- BTT and BTD Therapies
- BTR Therapy
By Design:
- Implantable VADs
- Percutaneous VADs
By End User:
- Ambulatory Surgical Centers
- Hospitals
By Region:
- North America
o U.S
o Canada
o Mexico
- Europe
o Germany
o France
o UK
o Italy
o Spain
o Rest
of Europe
- Asia-Pacific
o Japan
o China
o Australia
o India
o South
Korea
o Rest
of Asia Pacific
- Rest of the World
o Brazil
o South
Africa
o Saudi
Arabia
o United
Arab Emirates
o Others
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