Ventricular Assist Devices (VAD) Market Poised to Grow at a CAGR of 9.5% by 2024
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
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
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
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
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