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  

Left Ventricular Assist Device (LVAD) Market size was valued at USD 1,492.7 million in 2022 and is poised to grow at a significant CAGR of 9.3% over 2023-2029. 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 globalization paired with the pursuit of unhealthy lifestyles in 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, is predicted to propel the growth of 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.

Left Ventricular Assist Device Market Key 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 the 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).