Left Ventricular Assist Device Market: Global Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

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Left Ventricular Assist Device (LVAD) Market: By Product Type (Heart Pump, Controller, Batteries,  and Wires), By Age Group (Adult, and Pediatric), By Indication (Congestive Heart Failure, Congenital Heart Disease, Myocarditis, Cardiac Arrest, Familial Arrhythmias, Cardiomyopathies, Advanced Heart Failure, and Others), By End User (Hospitals, Cardiac Cath Laboratories, Specialty Clinics, Others), By Application (Destination therapy, Bridge-to-candidacy (BTC) therapy, Bridge-to-transplant (BTT) therapy, Bridge-to-recovery (BTR) therapy, and Others),  and Geography

 

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Report

Description

The Left Ventricular Assist Device  (LVAD) Market size was valued at USD 1,492.7 million in 2021 and is expanded to grow at a significant CAGR of 9.3% over 2022-2028. Both internal and external components make up the LVAD mechanical pump. The actual pump rests on or near the left ventricle of the heart, with a tube connecting it to the aorta. Driveline is a cable that runs from the pump out through the skin and links it to a controller and power sources that are worn outside the body. Chronic illnesses are becoming more common because of rapid globalisation paired with the pursuit of unhealthy lifestyles in the developed and developing countries. The rise in prevalence of chronic ailments such as neurological disorders, diabetes, cardiovascular diseases, hypertension, and stroke, as well as the growing global geriatric population, are predicted to propel the growth for Left Ventricular Assist Devices. Furthermore, these disorders raise the risk of organ failure, and the need for LVADs is likely to increase in the coming years attributed to a scarcity of organ donors and delays in organ transplantation. The growing demand for organ transplants is being fueled by the rising prevalence of cardiovascular disorders and the increased risk of organ failure. Due to a shortage of donor organs, the demand for ventricular assist devices has increased due to the fast-rising patient pool suffering from irreversible end-stage heart failure and waiting for heart transplantation. Depending on the end-user, the specialist clinics & other segments are estimated to rise at a faster CAGR during the forecast period, owing to an increase in the number of specialty clinics, as well as an increase in the number of physicians in established and emerging countries.

Recent Market Developments:

In June 2021, Abiomed received PMA for the Impella RP right heart pump with SmartAssist as a safe and effective treatment for acute right heart failure.

In June 2021, Abbott announced the company has capacity and supply to effectively support the growing demand for mechanical circulatory support (MCS) devices for the effective treatment of advanced heart failure following Medtronic’s decision to stop the global distribution and sale of the Medtronic HeartWare™ ventricular assist device (HVAD).

Left Ventricular Assist Device  (LVAD) Market

MARKET SUMMARY
-
9.3%
  • Study Period– 2022-2028
  • Base Year– 2021
  • CAGR– 9.3%
  • Largest Market– Asia-Pacific
  • Fastest Growing Market– North America

Left Ventricular Assist Device  (LVAD) Market

  • The left ventricular assist device  (lvad) market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
  • The left ventricular assist device  (lvad) market report gives historical, current, and future market sizes (US$ Mn) based on product type, age, indication, end-user, application, and geography.
Key Players
  • AbioMed
  • Berlin Heart
  • Jarvik Heart
  • ReliantHeart
  • Sun Medical Technology Research
Left Ventricular Assist Device  (LVAD) Market Dynamics

Two significant drivers driving the growth of the LVAD market are the rise in the frequency of chronic illnesses and the drop in organ transplantation. Furthermore, over the projection period, rapid elderly population increase, and rising natality are significant impact-rendering drivers for the market. The advantages of using LVADs include increased compliance, functionality, and durability, all of which help to increase product adoption and, as a result, market growth. But numerous dangers connected with ventricular assist device implantation operations, such as infection, blood clotting, device issues such as power failure or pumping issues, and the device’s high cost, are expected to stifle market growth.


North-America Got Significant Share

Left Ventricular Assist Device  (LVAD) Market

Because of the rising prevalence of CVD diseases, growing awareness among the population, improving healthcare infrastructure, rising healthcare spending, and favorable government policies, North America is the leading contributor to the market and is expected to maintain its position during the forecast period. During the forecast period, the Asia-Pacific market is expected to rise at a high CAGR. The country's ageing population will result in a high prevalence of cardiovascular disease, which will lead to a high rate of heart failure. In addition, as patients become more aware of treatments for cardiovascular disorders and heart failure, the need for ventricular assist devices will rise in the country.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The left ventricular assist device  (lvad) market report provides granular level information about the market size, regional market share, historic market (2017-2021) and forecast (2022-2028)
  • 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 start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario.
Left Ventricular Assist Device  (LVAD) Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The left ventricular assist device  (lvad) market is projected to expand at a CAGR of 9.3% during the forecast period.

AbioMed, Abbott (Thoratec), Medtronic (Heart Ware), Berlin Heart, Jarvik Heart, Sun Medical Technology Research, ReliantHeart

North America is the fastest-growing region for left ventricular assist device  (lvad) market


Report

Company Profile

  • AbioMed
  • Abbott (Thoratec)
  • Medtronic (Heart Ware)
  • Berlin Heart
  • Jarvik Heart
  • Sun Medical Technology Research
  • ReliantHeart

Description

The Left Ventricular Assist Device  (LVAD) Market size was valued at USD 1,492.7 million in 2021 and is expanded to grow at a significant CAGR of 9.3% over 2022-2028. Both internal and external components make up the LVAD mechanical pump. The actual pump rests on or near the left ventricle of the heart, with a tube connecting it to the aorta. Driveline is a cable that runs from the pump out through the skin and links it to a controller and power sources that are worn outside the body. Chronic illnesses are becoming more common because of rapid globalisation paired with the pursuit of unhealthy lifestyles in the developed and developing countries. The rise in prevalence of chronic ailments such as neurological disorders, diabetes, cardiovascular diseases, hypertension, and stroke, as well as the growing global geriatric population, are predicted to propel the growth for Left Ventricular Assist Devices. Furthermore, these disorders raise the risk of organ failure, and the need for LVADs is likely to increase in the coming years attributed to a scarcity of organ donors and delays in organ transplantation. The growing demand for organ transplants is being fueled by the rising prevalence of cardiovascular disorders and the increased risk of organ failure. Due to a shortage of donor organs, the demand for ventricular assist devices has increased due to the fast-rising patient pool suffering from irreversible end-stage heart failure and waiting for heart transplantation. Depending on the end-user, the specialist clinics & other segments are estimated to rise at a faster CAGR during the forecast period, owing to an increase in the number of specialty clinics, as well as an increase in the number of physicians in established and emerging countries.

Recent Market Developments:

In June 2021, Abiomed received PMA for the Impella RP right heart pump with SmartAssist as a safe and effective treatment for acute right heart failure.

In June 2021, Abbott announced the company has capacity and supply to effectively support the growing demand for mechanical circulatory support (MCS) devices for the effective treatment of advanced heart failure following Medtronic’s decision to stop the global distribution and sale of the Medtronic HeartWare™ ventricular assist device (HVAD).

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