Ventricular Assist Device Market Size, Share & Trends Analysis Report By Product, By Type Of Flow (Pulsatile Flow, Continuous Flow), By Application, By Design- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2021-2027

The global Ventricular Assist Device market gathered revenue around USD 2.0 Billion in 2020 and market is set to grow USD 8.1 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 18.0% during the prediction period 2021 to 2027.

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.

The growing rate of globalization, increasing pursual of unhealthy lifestyle habits, minimal physical activity, increased consumption of junk food and beverages, and tobacco and alcohol consumption if leading to the high global prevalence of cardiovascular diseases. The prevalence of rising cardiovascular diseases has been witnessed in developed countries of North America and Europe. Congenital heart diseases, heart failure, hypertension, ventricular septal defect, and stroke are among the major cardiovascular diseases. According to the CDC, in September 2020, nearly 7.0% or 19.0 million adults have critical congenital artery disease, and it has been estimated that approximately 2 in 10 adults aged 65 and below are likely to die from this disease.

In addition, the demand for VADs is primarily driven by the increasing prevalence of congenital heart disease, especially cyanotic congenital heart disease in adults. As per multiple population studies on heart failure and stroke, it has been recorded 65-70% of the cases are due to left ventricular systole dysfunction, which is boosting demand for ventricular assist devices. As per VAD procedure data it has been witnessed that hospitalization, in-hospital mortality, and hospital expenses have declined with the use of VAD. As per the American Heart Association estimates, U.S. annually spends USD 26 billion on heart failure patients.

This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Ventricular Assist Device market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Ventricular Assist Device market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.

Report Coverage

COVID-19 Impact Assessment on Market Landscape

The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.

Ventricular Assist Device market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.

Regional analysis:

North America dominated the ventricular assist devices market and accounted for the largest revenue share of 53.2% 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. U.S population accounts for the highest number of obese citizens, making them susceptible to cardiovascular diseases. Furthermore, the development of technologically developed healthcare facilities in the U.S. is expected to drive the treatment numbers and provide impetus to market growth. The presence of favorable reimbursement policies and insurance coverages reducing out-of-pocket expenditure is expected to boost growth by supporting the rising treatment rate.

In Asia Pacific, the market for VAD is anticipated to witness the highest CAGR of 20.1% over the forecast period owing to the advancement in healthcare facilities and favorable government strategies such as the “Make in India” movement to boost private and public partnerships in India. Similarly, favorable initiatives in other Southeast Asian countries undertaken by public and private players are expected to drive Asia Pacific growth. Moreover, the rising medical tourism market in Asia Pacific providing high-quality and cost-effective treatment services is boosting regional growth.

Competitive Rivalry

Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

• Company Overview
• Company Market Share/Positioning Analysis
• Product Offerings
• Financial Performance
• Recent Initiatives
• Key Strategies Adopted by Players
• Vendor Landscape
• List of Suppliers
• List of Buyers

Some of the prominent players in the Ventricular Assist Device Market include: Abiomed; Medtronic; Abbott; Berlin Heart; Cardiac Assist, Inc.; Jarvik Heart, Inc.; ReliantHeart, Inc.; Sun Medical Technology Research Corp.

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:

• By Product
• Left Ventricular Assist Device
• Right Ventricular Assist Device
• Bi-Ventricular Assist Device
• Total Artificial Heart
• By Type Of Flow
• Pulsatile Flow
• Continuous Flow
• By  Application
• Bridge to Transplant
• Destination Therapy
• Others (Bridge to Recovery, Bridge to Candidacy, and Others)
• By  Design
• Implantable Ventricular Assist Device
• Transcutaneous Ventricular Assist Device

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Highlights of the Report:

• Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
• Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
• Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
• Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market

Research Methodology

In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Ventricular Assist Device market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.

Secondary resources referred to by analysts during the production of the Ventricular Assist Device market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Ventricular Assist Device markets more accurate and reliable.

Secondary Research

It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.

The secondary research sources referred in the process are as follows:

• Governmental bodies, and organizations creating economic policies
• National and international social welfare institutions
• Company websites, financial reports and SEC filings, broker and investor reports
• Related patent and regulatory databases
• Statistical databases and market reports
• Corporate Presentations, news, press release, and specification sheet of Manufacturers

Primary Research

Primary research includes face-to face interviews, online surveys, and telephonic interviews.

• Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
• In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.

Industry participants involved in this research study include:

• CEOs, VPs, market intelligence managers
• Procuring and national sales managers technical personnel, distributors and resellers
• Research analysts and key opinion leaders from various domains

Key Points Covered in Ventricular Assist Device market Study:

• Growth of Ventricular Assist Device in 2021
• Market Estimates and Forecasts (2017-2027)
•  Brand Share and Market Share Analysis
•  Key Drivers and Restraints Shaping Market Growth
•  Segment-wise, Country-wise, and Region-wise Analysis
•  Competition Mapping and Benchmarking
•  Recommendation on Key Winning Strategies
•  COVID-19 Impact on Demand for Ventricular Assist Device and How to Navigate
•  Key Product Innovations and Regulatory Climate
•  Ventricular Assist Device Consumption Analysis
•  Ventricular Assist Device Production Analysis
•  Ventricular Assist Device and Management