Infinium Global Research has added a new report on Ventricular Assist Devices (Vad) Market. The report presents analysis of global as well as regional markets of ventricular assist devices (vad) market over the period of 2016 to 2024.
An electromechanical device used for assisting cardiac circulation, which is used to partially or completely replace the function of a failing heart is known as ventricular assist device .The VADs are used for short term, for patients recovering from heart attack and for patients recovering from cardiac surgery; the patient suffering from advanced congestive heart failure use long-term VADs. VADs are different from artificial hearts, which are designed to undertake cardiac function, and generally need the removal of the patient's heart. Moreover, VADs are designed to support either the right ventricle (RVAD) or the left ventricle (LVAD), or to assist both ventricles (BiVAD). The left-ventricle assistance device (LVAD) is the common device applied to a defective heart, but when the pulmonary arterial-resistance is high, then a right-ventricle assistance device (RVAD) might be necessary to resolve the problem of cardiac circulation. If both a LVAD and a RVAD is needed a BiVAD is normally used.
Growth in incidence of patients with heart failure and lack of heart donors is likely to boost the growth of the market. In addition, rising the incidence of cardiovascular diseases such as coronary artery disease, hypertension, and heart failure. Moreover, growing the occurrence of diabetes, genetic factors, lifestyle factors such as tobacco consumption, junk food, alcohol addiction, substance abuse, are likely to contribute towards cardiovascular disease population. On the other hand, high cost associated with devices and its implementation and high risks involved with a VAD implantation procedure are likely to hamper the growth of the market. Furthermore, research and development carried on innovation of novel device is likely to bring more opportunities to the market. For instance, in 2017, Heartmate III has been approved by the FDA. It is smaller than its predecessor HeartMate II, and uses a full maglev impeller instead of the cup-and-ball bearing system found in HeartMate II.
Among the regions, North America is expected to be the largest market for VAD. Rising occurrence of cardiovascular diseases, developed healthcare infrastructure, high patient awareness levels and better compensation policies for implantation procedures is the key factors drives the growth in this region. According to CDC, about 5.7 million adults in the U.S. have heart failure. The constant improvement in healthcare infrastructure in emerging countries such as India, is likely to drive the growth of Asia-Pacific region.
The merger and acquisition and business expansion are the key strategy of the leading player in this market. For instance, Abbott signs definitive agreement to acquire St. Jude Medical to create a premier medical device leader with top positions in high-growth cardiovascular markets, including atrial fibrillation, structural heart and heart failure, in 2016. Medtronic acquires HeartWare International to expand heart failure portfolio in 2016. Moreover, the growth matrix presented by Infinium Global Research identifies the key investment markets in the near future, this will not only help the companies to understand the competitive position in the global ventricular assist devices (vad) market but also make strategic decisions to capture the most lucrative markets in the near future.
The market size is presented in terms of value for the historic year 2016 and estimated for forecast period of 2018-2024.
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The recent report identified that North America dominated the global ventricular assist devices (vad) market over the last couple of years, while emerging markets of Asia-Pacific and Latin America are anticipated to contribute significantly to the growth in the ventricular assist devices (vad) market worldwide.
The report segments the global ventricular assist devices (vad) market on the basis of Product type.
Global Ventricular Assist Devices (vad) Market by Product Type
· Right Ventricular Assist Device (RVAD)
· Left Ventricular Assist Device (LVAD)
· Biventricular Assist Device (Bi-VAD)
· Total Artificial Heart (TAH)
Companies Profiled in the Report
· Berlin Heart GmbH
· Sunshine Heart Inc.
· SynCardia Systems LLC
· St. Jude Medical
· Heart Ware International
· Jarvik Heart
· Cardiac Assist
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