The global ventricular assist device market size was valued at USD 1.7 billion in 2019 and is projected to register a CAGR of 11.7% over the forecast period. Increasing prevalence of cardiovascular disorders, mainly hypertension, ventricular septal defect, heart failure, and stroke, is one of the key factors driving the market growth. Although heart transplantation (HTx) is the optimal surgical therapy for end‐stage heart failure (HF), this treatment option is becoming increasingly limited. Because of the shortage of a suitable heart donor, the gap between donors and recipients is widening. Around 10-12% of patients die during the waiting time for a donor heart or become non-eligible for transplantation because of deteriorating clinical condition.
To overcome this shortage, ventricular assist devices (VADs) are increasingly used in hospitals. Data suggests that in‐hospital mortality and length of stay after ventricular assist device implantation, including hospital costs, have declined. The U.S. healthcare system spends more than USD 26.0 billion annually on patients with heart failure, according to the American Heart Association. Approximately 250,000 of overall 6 million patients with heart failure have advanced disease with recurrent hospital admissions and high mortality, according to an article in the Journal of the American College of Cardiology. This is expected to drive the demand for ventricular assist devices worldwide over the forecast period.
Technological advancements with regard to the development of miniature devices designed with advanced features such as infection control technology are expected to boost the ventricular assist device market growth over the forecast period. In addition, associated favorable outcomes such as improved survival rate, longevity, durability, and functionality of these devices is anticipated to boost product usage.
Introduction of novel ventricular assist devices for complex surgical interventions, especially for the pediatric population, is further expected to boost their demand over the forecast period. For instance, the U.S. FDA approved the continuous-flow left ventricular assist devices (LVADs), Micromed HeartAssist 5 Pediatric VAD and the Berlin Heart Excor Pediatric ventricular assist device for pediatric patients. Berlin Heart Excor has been approved by the FDA and has been used as a bridge-to-transplantation (BTT) device since 2011. The two procedures currently available for the treatment of biventricular failure are biventricular assist device (BiVAD) and total artificial heart (TAH). A TAH is a mechanical device that is designed to replace the ventricles of the heart.
Technological advancements pertaining to novel product development is a key market differentiator. As a result of continual investments made to upgrade technology, new product developments are expected to attract investments from private equity players and venture capitals (VCs). Novel technologies include the use of a centrifugal pump that avoids the risk of clotting by preventing the blood from becoming static. HeartWare HVAD System by Medtronic is one such centrifugal VAD available in the market.
Moreover, a significant number of ongoing clinical trials focusing on ventricular assist devices, particularly LVADs and TAH, contributes to the market growth. For instance, HeartWare's (Medtronic) next-generation LVAD, the MVAD, is currently in the development process and a new study is expected eventually. LVAD manufacturers have also been working to develop wireless power via transcutaneous energy transfer (TET). Key collaborators for ventricular assist devices conducting clinical trials include Uppsala University Hospital, Northwestern University, American Heart Association, and German Heart Institute. However, the adoption of VADs is limited among patients in developing countries due to high procedural costs and unfavorable reimbursement programs.
In 2019, left ventricular assist devices emerged as the key product segment, mainly due to high number of LVAD implantations recorded among patients. For instance, by 2018, Abbott implanted its HEARTMATE II left ventricular assist device in approximately 26,600 patients with heart failure. According to the American College of Cardiology report, readmissions after LVAD implantation were generally costlier and longer in duration. Moreover, increasing number of patients with end-stage heart failure and low availability of therapeutic options are among the key factors expected to drive the VAD market growth. In addition, the American Heart Association documented improvements in patients with LVADs in terms of increased life span, functionality, and quality of life, which play a significant role in the adoption of LVADs as a preferred treatment option.
Moreover, increasing number of collaborations between hospitals, manufacturers, and insurance companies, coupled with shortage of organ donors and rising demand for LVADs for bridge-to-transplantation in patients suffering from end-stage heart failure, is expected to drive the market growth over the forecast period. In addition, increasing number of FDA approvals for novel devices, coupled with growing acceptance of these devices for destination therapy, is expected to boost its adoption rate. HeartMate XVE (manufactured by Thoratec Corporation) is an FDA-approved left ventricular device.
The BiVAD segment is expected to register a steady CAGR of 11.3% over the forecast period. Increasing use of pneumatically driven BiVADs in total artificial heart transplantations is anticipated to drive the product demand. Moreover, for patients suffering from severely decompensate heart failure, biventricular assist device implantation is more effective as compared to LVAD in cardiac interventions.As BiVADs enable efficient functioning of both ventricles of the heart, these devices are anticipated to witness a higher penetration rate as compared to traditional ventricular assist devices. On the other hand, total artificial heart is an external substitute of BiVADs, owing to which this segment accounted for a relatively lower market share in 2019.
In 2019, continuous flow held the largest market share of 89.1% in 2019 and is also estimated to be the fastest-growing segment over the forecast period. The adoption rate of different VADs is highly influenced by the type of flow associated with device. Continuous flow type devices are preferred over devices with pulsatile flow type as they make minimal noise, have fewer rotating parts, and require lesser maintenance and replacement. These devices are hence highly popular among researchers and physicians.
According to estimates published by Annals of Cardiothoracic Surgery in 2014, continuous flow was the most widely used left ventricular assist device. Key manufacturers and researchers in this space hence focus on eliminating the moving parts in advanced machines. For instance, key players such as Terumo Heart Inc. and Abbott have launched DuraHeart and HeartMate 3 LVADs respectively, which do not comprise rotating parts and use magnetic levitation technology instead.
Some key manufacturers offering continuous flow type devices include Medtronic, Abbott, Jarvik Heart, and Univera Healthcare. However, the pulsatile flow type segment is expected to register a moderate growth rate over the forecast period as these devices are relatively noisier, and require regular maintenance and early replacement due to the continuous rotation of moving parts.
In 2019, implantable devices accounted for the largest market share and this trend is expected to continue through the forecast period. Increasing preference for long-term treatment methods by patients who are not eligible for heart transplant is expected to drive the revenue generation of the segment.
The market is witnessing entry of new players that are focused on developing innovative products. For instance, FineHeart SARL is a technology company that develops miniature implantable, pulsatile-flow ventricular assist devices. HeartMate 3 LVAD manufactured by Abbott is a magnetically-levitated (MagLev) technology-based heart pump which was developed to reduce trauma caused by blood running through pumps during the blood flow optimization process.
A transcutaneous VAD, when compared to an implantable device, is a short-term ventricular assist device used during or post cardiac surgery. Patients with transcutaneous ventricular assist devices are confined to the hospital bed due to the external setup of the VAD control unit. This limits the adoption of these devices among patients, thereby restricting revenue growth.
The destination therapy segment dominated the VAD market in 2019. This can be attributed to an increase in incidences of end-stage heart failures and cardiovascular diseases. Left ventricular assist devices find application in destination therapy for heart patients who cannot undergo heart transplant surgery. Key players in the market are Abbott; Medtronic; and Jarvik Heart, Inc. Many of these companies’ products are in the pipeline for FDA approval. In line with this, in October 2018, Abbott received FDA approval for its HeartMate 3 LVAD for destination therapy.
The bridge to transplantation segment is expected to grow at a significant rate over the forecast period. Ventricular assist devices in bridge to transplantation are used for a short-term period (2 to 6 months only) to help patients stabilize their physiological stress during transplantation surgeries. Moreover, the use of VAD as a bridge to transplantation is gaining immense popularity due to improvements in device technology and reduction of VAD-associated complications. Bridge to recovery and bridge to candidacy are other application segments. VADs can be used as bridge to recovery, wherein it provides initial support to the patient to ensure healing during recovery time.
In 2019, North America dominated the market with a share of 53.2%. Presence of well-established reimbursement policies and increasing awareness pertaining to ventricular assist devices such as bridge-to-transplant, bridge-to-recovery, and destination therapies are expected to drive their demand over the forecast period. U.S. accounts for a majority of the global obese population, which is one of the high impact factors for the rise in cardiovascular diseases. Moreover, the presence of a technologically-advanced healthcare infrastructure is anticipated to boost the treatment rates and consequently the market growth in U.S. in the coming years. The presence of a favorable reimbursement structure is also expected to drive market growth by increasing the treatment rate and significantly reducing out-of-pocket expenditure.
However, Asia Pacific is expected to register the highest CAGR of over 12.0% from 2020 to 2027. Factors such as improvement in healthcare infrastructure supported by favorable government initiatives such as the “Make in India” campaign and increasing public and private investments in countries such as Singapore, India, and Philippines drive the regional market growth. Furthermore, with the rise in medical tourism, Asia Pacific is a popular choice for patients seeking cost-effective and high-quality medical treatment.
Key companies such as Medtronic; Abbott; Berlin Heart GmbH; ReliantHeart Inc.; Abiomed Inc.; CHF Solutions, Inc.; and Cardiac Assist Inc. hold a majority of the market share. These players adopt strategies such as mergers, acquisitions, product launches, and geographical expansion. Several market players engage in acquisitions to strengthen their market position. This strategy enables companies to increase their capabilities and expand their product portfolios. Acquisitions accounted for around 35.0% of all strategic initiatives undertaken in the ventricular assist devices market.
Base year for estimation
Actual estimates/Historical data
2016 - 2018
2020 - 2027
Revenue in USD Million and CAGR from 2020 to 2027
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
U.S., Canada, Germany, U.K., France, Spain, Italy, Russia, China, Japan, India, South Korea, Singapore, Australia, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa
Revenue forecast, company share, competitive landscape, growth factors, and trends
15% free customization scope (equivalent to 5-analyst working days)
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This report forecasts revenue growth at global, regional, and country levels and provides an analysis of latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research, Inc. has segmented the global ventricular assist device market report on the basis of product, type of flow, design, application, and region:
Product Outlook (Revenue, USD Million, 2016 - 2027)
Left Ventricular Assist Device (LVAD)
Right Ventricular Assist Device (RVAD)
Biventricular Assist Device (BiVAD)
Total Artificial Heart (TAH)
Type of Flow Outlook (Revenue, USD Million, 2016 - 2027)
Non-pulsatile or Continuous Flow
Design Outlook (Revenue, USD Million, 2016 - 2027)
Implantable ventricular assist devices
Transcutaneous ventricular assist devices
Application Outlook (Revenue, USD Million, 2016 - 2027)
Bridge to transplantation
Bridge to recovery & Bridge to candidacy
Regional Outlook (Revenue, USD Million, 2016 - 2027)
Middle East & Africa
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