Ventricular Assist Device Market Size, Share & Trends Report

Ventricular Assist Device Market Size, Share & Trends Analysis Report By Product (LVAD, RVAD), By Type of Flow (Pulsatile, Continuous), By Application, By Region, And Segment Forecasts, 2019 - 2025

  • Published Date: May, 2019
  • Base Year for Estimate: 2018
  • Report ID: 978-1-68038-603-5
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2017
  • Number of Pages: 100

Industry Insights

The global ventricular assist device market size was valued at USD 1.15 billion in 2018 and is anticipated to expand at a CAGR of 11.4% over the forecast period. Rising prevalence of heart failures and number of patients with cardiovascular diseases drives the demand for Ventricular Assist Device (VAD) as it helps mechanically pump blood in patients with heart failures or weakened heart.

According to a research paper published in NCBI in 2017, heart failure affects around 26 million people worldwide, annually. In addition, increasing number of patients waiting for heart transplantation and shortage of appropriate donor organs propels the demand for alternative approaches particularly VADs. According to the organ donation statistics released by the U.S. Department of Health & Human Services, nearly 115,000 people in the U.S. were on the waiting list for a lifesaving organ transplant by August 2017.

China ventricular assist device market

Recent advancements in designs are anticipated to further boost the growth in demand. Newer technologies include the use of centrifugal pump which prevents the blood from becoming static and avoids the risk of clotting. HeartWare HVAD System by Medtronic is one such centrifugal VAD available in the market. Another product is HeartMate II by Abbott, which has pocket sized, light weight LVAD controller and GoGear System components that facilitates an active lifestyle for patients. The advancements can to improve the quality of life for patients recovering from heart failures.

Increasing number of new product approvals is another significant factor that drives the market growth. For instance, in 2018, Medtronic received U.S. Food and Drug Administration (FDA) approval for its HeartWare Ventricular Assist Device (HVAD) for patients with advanced heart failure. It received CE mark for both long term and short term support in 2015. Another instance is of ReliantHeart which received CE mark in 2016, for aVAD-a left VAD. It includes features such as flow measurement and remote monitoring. In addition, significant R&D investments by manufacturers in new product development are expected to further propel the growth in near future.

Increasing government funding for new product development coupled with ongoing research activities in this area support the growth of ventricular assist devices. For instance, in 2018, CorWave, a France based medical equipment company raised about USD 16.5 million to support CALYPSO Research and Development (R&D) program involved in the development of CorWave Neptune device, a new LVAD. In 2016, Jarvik Heart received an approval for Investigational Device Exemption (IDE) clinical trial to test its miniature LVAD system in infants and children.

Ongoing clinical trials on VAD’s further contribute towards its growth. For instance, several clinical trials have been conducted around the globe to evaluate the effectiveness of VAD systems. Some of the collaborators for these clinical trials include Northwestern University, German Heart Institute,American Heart Association, Uppsala University Hospital, and others. However, high cost of VADs for advanced heart failure along with expensive follow up care may affect its adoption among patients in developing countries that do not have established reimbursement programs.

Product Insights

In 2018, left ventricular assist device emerged as the largest segment accounting for 78% of the revenue share. Increasing number of LVAD implantation is one of the major factors contributing to the growth. For instance, by May 2018, nearly 26,600 heart failure patients were implanted with HEARTMATE II LVAD by Abbott. Continuous advancements in LVAD technologies is expected to further propel this demand. HeartMate 3 LVAD of Abbott has MagLev Flow Technology which improves blood handling and reduces the complications of stroke, hemolysis, and pump thrombosis.

Growing number of LVAD manufacturers results in increased availability of these instruments for patients, which in turn is expected to drive the demand. HeartMate II and HeartMate 3 by Abbott; and EXCOR Pediatric LVAD by Berlin Heart are some of the examples of the LVADs currently present in the ventricular assist device market. Furthermore, rising number of new product developments in LVADs is projected to boost their demand over the forecast period. For instance, HeartAssist5 by ReliantHeart is under pre-clinical testing in U.S. and is expected to enter the FDA IDE trial in 2019.

ventricular assist devices market

Left ventricular assist device segment is expected to witness lucrative growth over the forecast period. Factors such as new product launches and ongoing research are anticipated to propel its growth in the forthcoming years. Moreover, new product approvals in this segment are anticipated to further impel the growth. For instance, in 2018, Abbott received U.S. FDA approval for its HeartMate3 LVAD for patients with advanced heart failure.

Type of Flow Insights

Type of flow of ventricular devices has been an important factor that positively influenced the adoption rates. Initially, instruments with pulsatile flow type have been launched, however, they were noisy, huge, and had too many moving parts that needed regular maintenance and replacement due to the wear and tear caused by continuous rotation. This led to the launch of continuous flow type devices with minimal noise and less rotating parts, which made those devices popular among the physicians and researchers.

As a result, the market has witnessed a significant shift in the demand for the instrument type based on the flow. In the last 15 years, continuous flow devices have been used in almost every procedure sparing a few around the world. For instance, by 2017, around 97% if ventricular devices being implanted are continuous flow devices.

This led to continuous research from many manufacturers and researchers to eliminate moving parts in the machine altogether. For instance, manufacturers like Abbott & Terumo Heart Inc. have launched HeartMate 3 & the DuraHeart Left Ventricular Assist Systems respectively that completely work on Magnetic Levitation (maglev) technology by eliminating rotating parts. These devices are expected to lead the market in the coming decade. However, affordability might hamper the fast paced adoption.

Application Insights

Ventricular devices were once popularly used as devices to buy patients some time before heart transplant or for the aid in preparation for future heart transplant. Other applications like bridge to recovery was also done to help patients who had temporary structural heart damage.

Destination therapy was adopted in very few cases previously. However, structural innovations, high success rate, and higher quality of life with ventricular assist devices for destination therapy has shifted the trend to these devices being used for destination therapy. For instance, from 2006 to 2007, more than 42% of VAD patients were listed for transplant and only 14.5% for destination therapy. From 2011 to 2013, this trend reversed with more than 41% implanted devices were for destination therapy and only 21% for transplant. This trend is expected to continue and adoption of VAD for destination therapy is expected to gain more popularity.

Regional Insight

In 2018, North America led the market in terms of geography, accounting for 53% of the revenue share. Rising prevalence of heart failure and other cardiovascular diseases coupled with growing number of patients waiting for organ transplantation are some of the major factors driving the growth. According to the statistics published by the American Heart Association in 2017, nearly 790,000 people in U.S. have heart attacks each year.

A significant number of clinical trials on new VADs are undergoing in this region which in turn support its market growth. In addition, increased patient awareness about the variety of available products may surge the demand. For instance, presence of various LVAD programs across various hospitals in this region increases its adoption among patients as these programs are aimed at creating awareness about ventricular assist device systems. Some of the popular LVAD programs includeMedStar Advanced Heart Failure Program, Inova's Heart Failure ProgramCleveland Clinic VAD Program, and Michigan Medicine VAD Program.

Asia Pacific is expected to witness one of the fastest growth rates of 12.0% over the forecast period. Increasing incidence of heart failures and shortage of heart donors in this region propel the growth. The region is expected to register lucrative growth in the next few years due to the presence of a large untapped market, rising healthcare expenditure, and recent improvements in healthcare infrastructure in many countries including China, Japan, India, and Singapore, among others.

Ventricular Assist Device Market Share Insights

The market is consolidated with the presence of few major market players including Medtronic and Abbott. Both the companies emerged as the leaders with their strong pipeline and marketed products. However, Abbott is dominating the market with the success of its MOMENTUM 3 clinical trial on HeartMate 3 LVAD. The results showed lowered rates of pump thrombosis and stroke and improved chances of patient survival.

VAD players are strategically acquiring emerging players to gain significant market share. For instance, Medtronic acquired HeartWare International, which is an innovator of miniaturized and less invasive mechanical circulatory support system in 2016. Key market players include Abbott; Medtronic; Berlin Heart; Abiomed; Cardiac Assist, Inc.; and ReliantHeart.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million and CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Country scope

U.S., Canada, Germany, U.K., Japan, China, India, Brazil, Mexico, South Africa.

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research, Inc. has segmented global ventricular assist device market report on the basis of product, type of flow, application, and region:

  • Product Outlook, (Revenue, USD Million, 2014 - 2025)

    • Left Ventricular Assist Device (LVAD)

    • Right Ventricular Assist Device (RVAD)

    • Bi-Ventricular Assist Device (BIVAD)

  • Type of Flow Outlook, (Revenue, USD Million, 2014 - 2025)

    • Pulsatile Flow

    • Continuous Flow

  • Application Outlook (Revenue, USD Million, 2014 - 2025)

    • Bridge to Transplant

    • Destination Therapy

    • Others

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

      • Spain

      • Italy

      • Russia

    • Asia Pacific

      • China

      • Japan

      • India

      • South Korea

      • Singapore

      • Australia

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • Middle East & Africa

      • Saudi Arabia

      • South Africa

      • UAE

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