Cardiac Assist Devices Market size was valued at USD 2.7 billion in 2021, growing at a CAGR of 13.6% during the forecast period 2022 to 2028. Cardiac Assist Devices Market 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. 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.
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.