Global Cardiac Assist Devices Market
Cardiac assist devices are mechanical pumps, which are used to support or replace the blood flow in weak cardiac function people and patients with heart failure. These are implantable devices and can be used temporarily to help the heart rate and blood flow.
Rising prevalence of cardiac disorders, surge in geriatric population and technological developments in cardiac assist devices, which minimize the chances of infection and improved efficiency enables attract demand for cardiac assist devices. In addition, rising number of cases of heart failure and shortage of donors for late-stage heart failure patients expected to boost the cardiac assist devices market during the forecast period. However, factors such as availability of alternative treatment options such as pacemakers and heart transplantation expected to hinder the market growth. Furthermore chances of infection, high cost of devices and stringent regulatory procedures expected to act as restraints for the growth of the cardiac assist devices market over the forecast period.
Cardiac Assist Devices Market Scope:
Global cardiac assist devices Market are segmented based on type of product, flow rate and end user
Based on the type of product, it is segmented into
- Ventricular Assist Devices (VDS)
- External Ventricular Assist Devices
- Left Ventricular Assist Devices (LVDS)
- Biventricular Assist Devices
- Right Ventricular Assist Devices
- Intra-Aortic Balloon Pumps
- Total Artificial Heart
Based on flow rate, it is segmented into
- Continuous Flow
Based on end user, it is segmented into
- Ambulatory Surgical Centres
Market overview: Cardiac Assist Devices Market
Global cardiac assist devices market is expected to grow at significant rate owing to increase in cases heart failure around the world. Cardiac assist devices are one of promising treatment option for heart failure patients. Market players are focused on vertical integration in order to develop innovative products. For instance, in October 2013, Sunshine Heart Inc. (changed name to CHF Solutions Inc.) collaborated with Minnetronix Inc. to develop transcutaneous energy transfer system to power the companies fully- implantable C-Pulse heart assist system. For instance Medtronic Plc. has expanded its product portfolio in cardiac assist devices market by the acquisition of HeartWare International, Inc. in June 2016. Similarly, in October 2015, St. Jude Medical, Inc. (acquired by Abbott Laboratories) acquired Thoratec Corporation to strengthen their heart failure market portfolio.
Region Overview: Global Cardiac Assist Devices Market
Global cardiac assist devices market is segmented into following regions, viz. North America, Asia-Pacific, Latin America, Middle East & Africa, and Europe. North America is expected to be major market for cardiac assist devices owing to factors such as growing awareness in patients about the cardiac assist devices, well-established healthcare infrastructure and favourable reimbursement policies. Europe cardiac assist devices market expected to grow at significant rates owing to increase in growing heart-related diseases and rising geriatric population. Asia-Pacific expected to grow at notable rates owing to developing healthcare infrastructure and growing awareness in patients.
Competition Assessment: Cardiac Assist Devices Market
Some of the players in global Cardiac Assist Devices are Calon Cardio-Technology Ltd. (UK) SynCardia Systems, Inc. (U.S.), Medtronic (U.S.), Berlin Heart GmbH (Germany), CHF Solutions, Inc. (U.S.), Teleflex Incorporated (U.S.), MAQUET GmbH & Co. (Germany), Abiomed (U.S.) and Abbot Laboratories (U.S.).
Market Developments: Cardiac Assist Devices Market
- In September 2017, Abiomed Inc. received U.S. FDA pre-market approval (PMA) for percutaneous temporary ventricular support device Impella RP heart pump.
- In October 2015, St. Jude Medical Inc. received CE mark approval for its left ventricular assist system (LVAS), HeratMate 3.
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2013 to 2016) and forecast (2017 to 2024)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market