Cardiac Assist Devices Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMMD1856 | Last Updated On: Jun 15 2022 | Available Formats

> Global Cardiac Assist Devices Market Expected to reach a high CAGR of 11.6% by 2029: DataM Intelligence

Global Cardiac Assist Devices Market is segmented By Product (Ventricular Assist Device, Total Artificial Heart, Intra-Aortic Balloon Pump, Others), By Application(BTT, Destination Therapy, Others), By End-User(Hospitals, Ambulatory Surgical Centres, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

Market Overview

The Global "Cardiac Assist Devices Market" is expected to grow at a high CAGR of 11.6% during the forecasting period (2022-2029).

Cardiac Assist Devices (CADs) are hemodynamic support devices that improve pumping efficiency and maintain optimum blood flow throughout the body. They are used to treat end-stage heart failure.

Market Dynamics

The cardiac assist devices market growth is driven by the increasing prevalence of heart failures and several patients with cardiovascular diseases (CVDs), which drives the demand for cardiac assist devices. They help mechanically pump blood in patients with heart failures or a weakened heart.

According to the National Health and Nutrition Examination Survey (NHANES) data (2016), an estimated 6.2 million American adults ≥20 years of age (2.2%) had heart failure between 2013 and 2016 compared with an estimated 5.7 million between 2009 and 2012. More than 5.7 million Americans suffer from heart failure, and there are approximately 915,000 new patients diagnosed with the disease annually. For patients with advanced heart failure, ventricular assist devices support the weakened heart by pumping blood through the body.

Increasing technological advancements in devices are also fuelling the growth of cardiac assist devices globally. For instance, in June 2017, International Biophysics, a global medical device manufacturer, launched FloPump 32, the smallest centrifugal pump in the world at 32ml prime, designed and intended to be used in conjunction with the Maquet® RotaFlow™ console. In August 2017, Abbott launched its Full MagLev™ HeartMate 3™ Left Ventricular Assist System (also known as an LVAD). The HeartMate 3 system provides a new option for physicians managing advanced heart failure patients who need short-term hemodynamic support (bridge-to-transplant or bridge to myocardial recovery). Hence, the advancements in devices improve the quality of life for patients recovering from heart failures.

Besides, the lack of heart donors and the rising number of patients waiting for heart transplantation drive alternative approaches such as ventricular assist devices (VADs). According to the organ donation data by the U.S. Department of Health & Human Services, approximately 115,000 people in the U.S. were on the waiting list for a lifesaving organ transplant by August 2017.

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

However, high-cost ventricular assist devices (VADs) for advanced heart failure coupled with expensive follow-up care are restraining the growth of the cardiac assist devices market. On average, the VADs cost around US$ 100,000, and the total procedure costs around US$ 700,000 over a six-year period. The high cost of the device and procedures is too expensive for the low and middle-income patient population, hence, declining the demand and growth of the market.

Segment Analysis

By type, the global cardiac assist devices market is segmented into Ventricular Assist Device, Total Artificial Heart, Intra-Aortic Balloon Pump, and Others. Among these, the ventricular assist devices segment accounted for the largest market share of the cardiac assist devices in 2018, owing to the high adoption of the product among patients. A ventricular assist device (VAD) consists of an electric motor & a driveline, which is implanted in the patient's chest. It helps to pump the blood through the heart to the entire body and has the required force to distribute sufficient blood throughout the body.

The ventricular assist device is further classified into Left Ventricular Assist Device (LVAD), Right Ventricular Assist Device (RVAD), and Bi-Ventricular Assist Device (BIVAD). Among these, left ventricular assist devices held the largest market share of more than 70% in 2018 due to the rising LVAD implantation rate. For instance, till May 2018, approximately 26,600 heart failure patients were implanted with HEARTMATE II LVAD by Abbott. Also, increasing advancements in LVAD technologies are expected to propel this demand further. For instance, In October 2018, Abbott received US FDA approval for the HeartMate 3™ Left Ventricular Assist Device (LVAD) as a destination therapy for people living with advanced heart failure. Also, in 2016, ReliantHeart received a CE mark for aVAD-a left VAD. It includes features such as flow measurement and remote monitoring.

Based on the application of cardiac assist devices, the market is segmented into bridge-to-transplant (BTT) therapy, destination therapy, and others (such as bridge-to-recovery (BTR) therapy and bridge-to-candidacy (BTC) therapy). Among these, destination therapy is estimated to grow at the highest CAGR during the forecast period (2020-2027), owing to a high success rate, structural innovations, and higher quality of life with ventricular assist devices 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. The trend was reversed later, as from 2011 to 2013, and there were more than 41% of implanted devices were for destination therapy and only 21% for transplant. In October 2019, Abbott received FDA approval for the HeartMate 3 left ventricular assist device (LVAD) as destination therapy for advanced heart failure patients ineligible for a transplant. The heart pump was approved as a bridge-to-transplant option in August 2017 but is now available for destination therapy. It has been approved in Europe for both indications since October 2015. Hence, the increasing product approval by manufacturers is expected to increase the adoption of VAD for destination therapy.

Geographical Analysis

North America is dominating the cardiac assist devices market in 2018 and estimated to hold the largest market size over the forecast period (2020-2027), owing to the rising prevalence of heart failure cases. According to the American Heart Association, in 2017, approximately 790,000 people in the U.S. have heart attacks each year. The rising number of people suffering from cardiovascular diseases and growing technological advancements boost the demand and adoption rate of cardiac assist devices in this region. In the United States, there are about 4,000 people on the heart transplant listed. Only about 2,000 hearts become available per year. The LVAD is used to “bridge” these patients to transplant when waiting is no longer possible.

With an increasing number of clinical trials and rising patient awareness about the variety of available products, the demand for cardiac assist devices increases in North America. Various ventricular assist device programs in various hospitals in this region lead to higher adoption rates among patients. These programs aim to create awareness about ventricular assist device systems. For instance, Cleveland Clinic has one of the most experienced ventricular assist devices (VAD) programs in the United States. The Cleveland Clinic has access to FDA- approved ventricular assist devices, as well as new investigational devices. Other programs include Inova's Heart Failure Program, MedStar Advanced Heart Failure Program, and Michigan Medicine VAD Program.

Competitive Landscape

The Cardiac Assist Devices market is dominated by a few major players, including Biophan Technologies, Berlin Heart GmbH, Calon Cardio-Technology Ltd., MAQUET GmbH & Co., Teleflex Incorporated, Heart Ware International, Abiomed Inc., Thoratec Corporation, SynCardia Systems, and Bioheart. The players focus on product approvals and develop innovative products to strengthen their product portfolio, which intensifies the market competition. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations contributing to the growth of the Cardiac Assist Devices market globally. For instance,

In May 2019, Abiomed launched the Impella CP commercially with SmartAssist at the 2019 Society for Cardiovascular Angiography & Interventions (SCAI).

In October 2018, Abbott received US FDA approval for the HeartMate 3™ Left Ventricular Assist Device (LVAD) as a destination therapy for people living with advanced heart failure.

In 2018, Calon Cardio-Technology launched a clinical trial of the UK’s first artificial heart pump.

Why Purchase the Report?

  • Visualize the composition of the cardiac assist devices in terms of types of cardiac assist devices, highlighting the key commercial assets and players.
  • Identify commercial opportunities in the cardiac assist devices market by analyzing trends and co-development deals.
  • Excel data sheet with thousands of data points of cardiac assist devices market-level 4/5 segmentation.
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
  • Product mapping in excel for the key product of all major market players

Target Audience

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