Market Overview:

The market for Ventricular Assist Device was valued at approximately USD 3.84 Billion in 2023. Over the course of the forecast period (2024–2031), the market is expected to develop at a compound annual growth rate (CAGR) of 17.6%, reaching a value of USD 9.66 Billion by 2031.

The growing worldwide elderly population suffering from the increased prevalence of chronic conditions such diabetes, neurological conditions, cardiovascular diseases, high blood pressure, and stroke is one of the main drivers expected to drive the need for Ventricular Assist Devices (VADs). The danger of chronic illnesses is rising due to rapid globalization and the promotion of unhealthy lifestyles in both developed and developing countries. Ventricular assist device demand is thus predicted to be driven by the rising incidence of cardiovascular disorders. Additionally, these illnesses raise the possibility of organ failure, and as a result of the shortage of organ donors and the postponement of organ transplantation, there will likely be an increase in the need for VADs in the years to come.

The market for VADs has grown due in large part to the rise in the prevalence of chronic illnesses and the decrease in organ transplants. Additionally, two other factors that will have an impact on the market throughout the projected period are the aging population's quick rise and rising natality. The major companies in the VAD market are making investments in new product development as the industry continues to change. VAD sales are anticipated to be driven by technological developments and prompt regulatory approvals for small-sized devices with capabilities like infection control.

The growing need for organ transplants is being fueled by the frequency of cardiovascular illnesses rising and the growing dangers of organ failure. The organ transplant process is delayed by the lack of organ donors. Nearly 121,016 people require organ transplants, and there are about 77,725 persons on the waiting list as of United Network for Organ Sharing. As of June 2020, 3,582 candidates were listed on the Organ Procurement and Transplantation Network's waiting list for heart transplants. Due to a lack of available donor organs, the rapidly expanding patient population suffering from irreversible end-stage heart failure and awaiting a heart transplant has resulted in a rise in the need for ventricular assist devices. An estimated 20 million people in the United States and Europe have degenerative cardiac conditions; the majority of these people are waiting for a heart transplant. The market for VAD is expanding more quickly as a result of the previously listed factors. Additionally, the use of ventricular assist devices (LVAD) in conjunction with VAD operations has demonstrated improved outcomes, increased applicability, and durability, hence improving therapy choices for end-stage heart failure.

The whole artificial heart replacement or biventricular assist devices are two possible treatment options for biventricular failure resulting from end-stage heart failure. It is advised for individuals with end-stage heart failure to have a complete artificial heart (TAH), an automated device that replaces the ventricles. Restoration of blood flow, better survival, and enhanced quality of life are advantages of total artificial heart replacement. Investments from venture capitalists and private equity firms to support product development are indicative of the growing recognition of the VAD sector.

The number of surgical procedures has declined as a result of the government's temporary lockdowns and travel restrictions imposed on by the ongoing Covid-19 epidemic, which has negatively impacted the VAD market. For instance, ABIOMED Impella heart pump's global revenue declined in the fourth quarter of FY2020 as a result of lower patient use and the significant impact of the COVID-19 pandemic on hospital admissions, operations, and elective medical procedures. The continuous strain of the pandemic caused elective surgical procedures to be postponed and impeded the demand for VAD products, which negatively impacted the growth of the market.

Market Dynamics:

Market Drivers:

Rising Rates of Cardiovascular Conditions

• A number of variables, including smoking, alcohol consumption, sedentary behavior, and unhealthy lifestyles, have contributed to the growing occurrence of these illnesses. These lifestyle decisions add to the onset and progression of cardiovascular illnesses, which puts a heavy strain on international healthcare systems.
  The frequency of cardiovascular disease among the elderly population is rising, which presents serious difficulties to healthcare systems and calls for the creation and uptake of cutting-edge medical treatments and technologies. Ventricular assist devices, or VADs, play a critical role in the diagnosis, management, and treatment of heart failure. They also help to improve patient outcomes by mechanically supporting the weakening heart. For patients with severe cardiovascular problems, these devices assist reduce symptoms, improve quality of life, and increase survival time.

Technological Developments Concerning the Creation of Novel Products

• The latest advances in technology have enabled the development of compact devices with sophisticated features, such as infection-prevention technologies. VAD adoption is expected to increase as a result of positive outcomes linked to these devices, such as increased longevity, functionality, and survival rate. Throughout the projection period, there is expected to be a rise in demand for these devices due to the introduction of novel VADs for complicated surgical treatments, particularly in the pediatric population. In the case of pediatric patients, the FDA has approved the Berlin HeartTM EXCOR pediatric VAD, Micromed HeartAssist 5TM Pediatric VAD, and continuous-flow LVADs. The Berlin HeartTM EXCOR device has been authorized for use as a bridge to transplant surgery. During the course of the projected period, these factors are expected to fuel market expansion.

Market Trends:

Miniaturization and Technological Advancements

• The continuous miniaturization and technological developments in device design and functioning are driving the ventricular assist device industry. Producers are always coming up with new ideas to create VADs that are lighter, smaller, and more effective while also providing better patient outcomes, durability, and hemodynamic support. VAD miniaturization lowers the risk of problems, permits less invasive surgical techniques, and improves patient comfort and mobility. Improvements in sensor integration, motor technology, and pump design further add to the increased performance, longevity, and dependability of VADs. By enabling the application of VAD therapy to a larger patient population—including those with less severe heart failure or lower body sizes—and by enhancing the general quality of life for patients with advanced heart failure, these technological developments propel market expansion.

Growing Adoption of Destination Therapy and Bridge-to-Transplantation

• The market for ventricular assist devices is being driven by the increasing use of VAD therapy as a bridge to transplantation for patients waiting for a heart transplant and as destination therapy for those suffering from end-stage heart failure that are not candidates for a heart transplant. The long-term use of VADs to treat end-stage heart failure patients who are not candidates for heart transplantation because of their age, multiple medical conditions, or other circumstances is known as "destination therapy." In a bridge-to-transplantation scenario, patients with advanced heart failure are stabilized with VADs while they wait for a heart transplant. Advances in VAD technology, better patient outcomes, and a growing list of reasons for VAD use are all contributing factors to the growing acceptability and use of VAD therapy as a bridge to transplantation and destination therapy. As a practical therapy option for patients with severe heart failure who have few other options, this trend increases demand for VADs, which propels market expansion.

Market Restraining Factors:​

High Cost of Devices and Associated Healthcare Expenses

• The high cost of the equipment and related healthcare costs is the market for ventricular assist devices. VADs are state-of-the-art medical devices that help people with severe heart failure by helping the heart pump blood to the body's other organs. The price of VADs comprises costs for the purchase of the device, the implantation procedure, the recovery period following the procedure, and long-term care. Patients who need VAD therapy may also have continuous medical costs for follow-up visits, medication administration, device monitoring, and other consequences. Patients, healthcare providers, and payers may face financial difficulties due to the high cost of VADs and related medical bills, especially in areas with limited insurance coverage or healthcare resources. The market growth & adoption of VADs as a treatment option for coronary artery disease may be limited if certain patients are unable to afford VAD therapy.

Key Industry Developments:

• In January 2022, Hridyantra, a challenge-based program, was introduced by the School of Medical Research and Technology (SMRT) at IIT Kanpur with the goal of developing an enhanced artificial heart for end-stage heart failure patients known as the Left Ventricular Assist device (LVAD).

Report Coverage:

The report will cover the qualitative and quantitative data on the global Ventricular Assist Device Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

Report Scope and Segmentations:

Ventricular Assist Device Market Players Analysis:

• Abiomed
• Medtronic
• Abbott
• Berlin Heart
• Cardiac Assist, Inc.
• Jarvik Heart, Inc.
• ReliantHeart, Inc.
• Sun Medical Technology Research Corp

Ventricular Assist Device Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2024-2031 & Sales with a thorough analysis of the market’s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.

Ventricular Assist Device Market Segmentation Analysis:

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

By Design

• Implantable Ventricular Assist Device
• Transcutaneous Ventricular Assist Device

The report also helps in understanding Global Ventricular Assist Device Market dynamics, structure by analyzing the market segments, and project the Global Ventricular Assist Device Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Ventricular Assist Device Market make the report investor’s guide.

Segmentation Analysis:

The market is divided into segments based on By Product, Type Of Flow, By Application, By Design.

By Product

Based on the Product of the market is segmented into Left Ventricular Assist Device, Right Ventricular Assist Device, Bi-Ventricular Assist Device, Total Artificial Heart.

The VAD market was dominated by the Left Ventricular Assist Devices (LVAD) category, which generated the highest revenue share of 80.5%. This increase is the result of the many LVAD implantation surgeries that patients have had documented. According to a survey by the American College of Cardiology, readmissions following LVAD implantation were more expensive and resulted in longer hospital stays. Moreover, the market for VAD is anticipated to expand in the next years due to the growing number of patients experiencing end-stage cardiac failure and the lack of accessible treatment procedures. The American Heart Association also noted increases in LVAD patients' functionality, well-being, and lengthened lives, all of which contribute to the device's adoption rate.

The Bi-ventricular Assist Devices (BiVAD) market is projected to expand at the fastest rate in the upcoming years, with a growth rate of 18.7%. It is anticipated that the rising usage of pneumatically driven BiVADs in TAH transplantation will enhance demand for the product. Since they allow the heart ventricles to function more efficiently, BiVADs are superior to LVADs in treating patients with severely decompensate heart failure. It is anticipated that the aforementioned advantages of BiVADs would strengthen the VAD market and contribute to its quick adoption rate.

By Type Of Flow

Based on the Type Of Flow size of the market is Segmented into Pulsatile Flow, Continuous Flow.

This segment of the VAD market was dominating and produced the largest revenue share of 92.5% because continuous flow VADs are more advantageous than pulsatile VADs. Reduced noise, reduced rotating parts, reduced maintenance needs, and reduced need for continuous flow VAD replacements are all present. These benefits make continuous flow VADs a popular therapy choice for researchers and medical practitioners. In the continuous flow VADs market, the goal of product development is to create machines without any moving components. Abbott and Terumo Heart Inc. are two of the leading players that have introduced HeartMate 3 LVADs and DuraHeart, respectively, using magnetic levitation technology instead of spinning parts.

Due to the rising prevalence of heart failure and cardiovascular disorders, the pulsatile flow VADs segment is expected to grow at the quickest rate over the projection period. About 17.9 million deaths worldwide in 2018 were attributed to cardiovascular illnesses, according to the WHO. Pulsatile mechanical ventricular assist devices became a routine treatment for patients with severe heart failure in March 2020, according to statistics published by the American Heart Association. These devices are used as a bridge to transplantation or partially as a rehabilitation assistance.

Regional Snapshots:

By region, Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. North America held the greatest revenue share of 54.1% in 2021 and led the market for ventricular assist devices. The market for VAD is expected to be driven in the next years by the accessibility of regulated reimbursement policies & coverages, as well as rising awareness of VADs including destination treatments, bridge-to-recovery, and bridge-to-transplant. The majority of obese people live in the United States, which puts them at risk for cardiovascular illnesses. Furthermore, it is expected that technological developments in the U.S. healthcare sector would increase treatment rates and promote market growth. It is expected that the availability of insurance plans with favorable reimbursement policies and lower out-of-pocket expenses will encourage expansion and sustain the rising treatment rate.

The VAD market in Asia Pacific is predicted to develop at the fastest rate of 19.3% over the course of the forecast year due to advancements in healthcare facilities and supportive government efforts like the "Make in India" campaign to foster private and public collaborations in India. In a similar vein, constructive initiatives undertaken by public and private entities in other Southeast Asian countries are expected to drive Asia Pacific growth. Furthermore, by providing high-quality and moderately priced treatment options, the expanding medical tourism sector in Asia Pacific is promoting regional growth.

Ventricular Assist Device Market Report is also available for below Regions and Country Please Ask for that

North America

• U.S
• Canada

Europe

• Switzerland
• Belgium
• Germany
• France
• U.K
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Rest of Europe

Asia-Pacific

• India
• Australia
• Philippines
• Singapore
• South Korea
• Japan
• China
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Argentina
• Peru
• Colombia
• Brazil
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Points Covered in the Report:

The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.

The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 5 years data history and forecast.

The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.

Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.

The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Questions:

• How much the global Ventricular Assist Device Market valued?
• Which region has the largest share in 2021 for the global Ventricular Assist Device Market?
• What are the driving factors for the market?
• Which is the leading segment in the global market?
• What are the major players in the market?

Research Scope of Ventricular Assist Device Market:

• Historic year: 2019-2022
• Base year: 2023
• Forecast: 2024 to 2031
• Representation of Market revenue in USD Million

Ventricular Assist Device Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends: