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This research report on the cardiac assist devices market covers market sizing and forecast, market share, industry trends, growth drivers, and vendor analysis. The study includes insights by Application (bridge to transplant, destination therapy, and others), Products (intra-aortic balloon pump, ventricular assist devices, and total artificial heart), End-users (hospitals and special cardiac centers), and Geography (North America, Europe, APAC, Latin America, and MEA)
The cardiac assist devices market is expected to observe significant growth on account of the growing incidence of congestive heart failures worldwide, especially in the geriatric population. With increased awareness of heart failures among patients and the availability of advanced treatment options, the market is likely to witness growth during the forecast period.
The emergence of next-generation cardiac assist devices is expected to fuel industry growth during the forecast period. The industry has witnessed the launch of several advanced and innovative heart assist devices with major changes in product designs and material usage. The introduction of less invasive devices by surgeons to perform left ventricular assist devices (LVAD) implant surgeries efficiently is leading to promising post-surgical outcomes.
Moreover, the global cardiac assist devices market is likely to grow during the forecast period due to increasing technological advancements, new product approvals, increasing elderly population, improvements in reimbursement policies for heart failures, and associated comorbidities. Vendors are likely to focus on addressing unmet patient need as the demands for innovative cardiac assist devices is growing due to promising clinical outcomes, thereby increasing opportunities for vendors.
- In the US, over 8 million people are expected to experience heart-related disorders by 2030, which is likely to boost the demand for cardiac assist devices.
- The growth of the geriatric population in France, which is expected to reach 30% by 2050 from 25% in 2030, is likely to contribute to market growth.
- In Spain, the high penetration of advanced cardiac assist devices is likely to influence the market positively.
The global cardiac assist devices market is expected to grow at a CAGR of over 9% during the forecast period 2019–2025.
Global Cardiac Assist Devices Market: Segmentation
This research report includes detailed segmentation by Application, Products, End-users, and Geography.
Insights by Application
The application of bridge to transplant (BTT) is enhancing the quality of life and survival chances of patients. The segment is expected to grow steadily due to advances in technology. The entry of advanced and innovative products from first-generation pulsatile flow cardiac assist devices to third-generation continuous flow devices is immensely influencing market growth prospects. However, the segment is likely to witness a decline during the forecast due to the increasing usage of cardiac assist devices as a destination therapy for treating advanced heart failure.
The destination therapy (DT) segment is expected to grow at the fastest CAGR on account of the shortage of heart donors, increasing prevalence of end-stage heart failures, and the availability of effective therapies to treat heart failures. The demand for DT is likely to increase as it supports long-term cardiac function in end-stage heart failure patients, who are ineligible for heart transplantation.
Insights by Products
Left ventricular assist devices (LVAD) are predominantly used to bridge to transplant and destination therapy compared to other devices. The usage of LVAD has significantly improved the survival rate among patients undergoing heart transplantation. The application of LVADs in patients requiring cardiac support for longer duration enhances the quality of life and survival chances. These factors are likely to influence patients to prefer LVAD implants, thereby bolstering the demand for LVADs.
Intra-aortic balloon pumps (IABP) are considered to be the first line of treatment, especially in low and middle-income countries, and help treat the patient at critical stages. The segment is expected to grow due to several surgeons recommending IABP for treating advanced heart failures. IABPs provide safer use and earlier intervention to provide hemodynamic support and has minimal complications than other cardiac assist devices.
Insights by End-users
The hospital segment is expected to dominate the market during the forecast period, as the number of hospitals offering cardiac care is relatively high than in other healthcare settings. Patients prefer undergoing advanced heart failure treatment in hospitals due to their convenient locations and ease of accessibility. Moreover, the aging population and shortage of heart donors are other major factors likely to drive the segment growth.
Specialty cardiac centers (SSCs) are solely dedicated to treating patients suffering from several CVDs, such as vascular stenosis and heart failure. The segment is expected to grow at the fastest CAGR due to the availability of sophisticated infrastructure related to the diagnosis and high-quality treatment of CVDs in standalone cardiology centers.
Insights by Geography
The North American market is expected to grow at the fastest CAGR due to favorable patient demographics, availability of skilled surgeons, and favorable reimbursement coverage. The increasing prevalence of obesity and diabetes, coupled with the aging population, has increased heart failures, which are expected to bolster the market. In Europe, the market is likely to grow because of the increasing geriatric population with heart diseases and high awareness of the advantages of cardiac assist devices. Further, increased government investments for such devices are likely to boost industry growth. Germany, the UK, and France are the key countries in the region as they invest the highest in R&D activities than other European countries. The APAC market is expected to grow at a moderate rate due to the increased healthcare expenditure, coupled with a high prevalence of CVDs. Favorable government policies and increased vendor initiatives in spreading awareness of stents are the other primary factors likely to influence the industry.
Key Profiled Countries
- South Korea
- Saudi Arabia
Insights by Vendors
The global cardiac assist devices market is highly consolidated with major players accounting for a significant share of the industry. However, there are considerable growth opportunities for new entrants. Several investigational and small med-tech companies are expected to offer innovative products and technologies. The leading players are focusing on implementing several strategies such as product launches and approvals, acquisitions, and an increase in R&D investment to enhance their market share. Moreover, they focus on expansion in existing and new industries to cater to the needs of growing customer base, widen their product portfolios, and boost their production capabilities to gain traction from end-users. Leading players are likely to dominate the industry on account of their strong presence and surgeons’ endorsement for their products due to the availability of abundant clinical data and efficacy.
Other Prominent Vendors – Abiomed, Berlin Heart, Getinge, SynCardia, Teleflex, ZEON MEDICAL, Tokai Medical Products, SENKO MEDICAL INSTRUMENT, Insightra Medical, ReliantHeart, PulseCath, Jarvik Heart.
Key Market Insights
The analysis of the cardiac assist devices market provides market sizing and growth opportunities for the period 2019–2025.
- Provides comprehensive insights on the latest industry trends, forecast, and growth drivers in the market.
- Includes a detailed analysis of challenges and investment opportunities in the industry.
- Delivers a complete overview of market segments and the regional outlook of the cardiac assist devices market.
- Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the market.
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