Ventricular Assist Devices Market

Market Overview:

The global ventricular assist devices market size reached US$ 1.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 4.1 Billion by 2032, exhibiting a growth rate (CAGR) of 8.5% during 2024-2032. The growing prevalence of heart failure, limited availability of donor hearts, supportive regulatory framework and faster approvals, improvements in surgical techniques for VAD implantation, and technological advancements represent some of the key factors propelling the market.

Ventricular assist devices (VADs) are medical devices designed to support the functioning of a weakened or failing heart. They are primarily used as a temporary measure while a patient awaits a heart transplant or as a long-term solution for patients who are not eligible for transplantation. VADs are implanted surgically and help pump blood from the heart's ventricles to the rest of the body. These devices consist of a pump, which is typically placed in the patient's abdomen or chest, and a driveline that connects the pump to an external power source. The pump is responsible for taking over the pumping action of the heart, ensuring that blood is adequately circulated throughout the body. They can help relieve symptoms, including fatigue, shortness of breath, and fluid retention. Moreover, VADs can serve as a bridge to transplantation, keeping patients stable and improving their chances of receiving a donor heart. As a result, VADs have revolutionized the treatment of heart failure, providing patients with improved quality of life, higher energy levels, and increased survival rates.

A rise in the prevalence of cardiovascular diseases (CVDs) represents one of the key factors driving market growth. Besides this, the growing awareness among healthcare professionals and patients about the benefits and availability of VAD therapy is contributing to the market expansion. A surge in efforts to educate healthcare providers, patients, and caregivers about the effectiveness of VADs in managing heart failure has led to increased acceptance and adoption of these devices. In addition, supportive regulatory frameworks and approvals have facilitated the commercialization and adoption of VADs. Regulatory agencies worldwide have been actively involved in streamlining the approval process, ensuring safety, and promoting innovation in VAD technology. Such favorable regulatory environments encourage manufacturers to invest in research and development (R&D) and introduce advanced VADs. Additionally, advancements in surgical techniques for VAD implantation have made the procedure safer and more accessible. The introduction of minimally invasive (MI) surgical approaches, such as thoracotomy or subcostal incisions, has reduced surgical trauma, shortened recovery times, and expanded the eligibility of patients for VAD therapy, which in turn has accelerated the adoption of VADs. Furthermore, the increasing healthcare expenditure, particularly in emerging economies, is contributing to the growth of the VADs market. Other factors, including significant economic growth, improving healthcare infrastructure, favorable government initiatives to enhance healthcare access, and the rising willingness of patients to invest in novel treatment options for heart failure, are also anticipated to stimulate market growth.

Ventricular Assist Devices Market Trends/Drivers:

Increase in the prevalence of heart failure

The growing prevalence of heart failure across the globe is a significant factor driving the market for ventricular assist devices. The rise in heart failure cases can be attributed to the aging population, sedentary lifestyles of individuals, obesity, and an increase in chronic diseases such as diabetes and hypertension. The risk of heart failure rises with age, and older adults are more likely to require mechanical circulatory support. The aging population, especially in developed countries, creates a substantial patient pool for VADs, fueling market growth. As the number of heart failure patients continues to grow, the demand for VADs as a viable treatment option also increases. VADs offer a solution for individuals with advanced heart failure who may not respond adequately to conventional therapies, providing mechanical support and improving their quality of life.

Limited availability of donor hearts

The scarcity of suitable donor hearts for transplantation is another critical factor strengthening the market growth. Heart transplantation remains the gold standard treatment for end-stage heart failure. However, the number of available donor hearts falls significantly short of the demand. Since VADs serve as a bridge to transplantation, keeping patients stable and improving their chances of receiving a donor heart, they are increasingly being used as a long-term solution for patients who are not eligible for transplantation. As a result, the limited availability of suitable heart donors has generated the need for alternatives to heart transplantation, such as VADs, which is further expected to fuel the growth of the market during the forecast period.

Rise in technological advancements 

Rapid advancements in VAD technology have significantly contributed to the growth of the market. Continuous research and development (R&D) efforts by key players have led to smaller device sizes, improved durability, enhanced control systems, and better patient outcomes. These technological advancements have expanded the use of VADs to a broader patient population, including those with smaller body sizes or children with heart failure. Moreover, advancements in device design and implantation techniques have reduced the risk of complications, increased device reliability, and improved patient comfort. Such innovations and improvements in VAD technology have led to the development of innovative devices that are more efficient, safer, and appealing to both healthcare professionals and patients, thereby supporting market growth.

Ventricular Assist Devices Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global ventricular assist devices market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on product, flow type, product type, application, and end user.

Breakup by Product:

• Left Ventricular Assist Device (LVAD)
• Right Ventricular Assist Device (RVAD)
• Biventricular Assist Device (BiVAD)
• Others

Left ventricular assist device (LVAD) represents the most popular product

The report has provided a detailed breakup and analysis of the market based on the product. This includes left ventricular assist device (LVAD), right ventricular assist device (RVAD), biventricular assist device (BiVAD), and others. According to the report, left ventricular assist device (LVAD) represented the largest segment.

The left ventricle is responsible for pumping oxygenated blood to the rest of the body, making it a critical component in maintaining systemic circulation. Therefore, when the left ventricle fails or functions inadequately, the need for mechanical support becomes paramount. The LVAD specifically targets the left ventricle, providing support and assisting in the pumping action, thereby effectively addressing the primary cause of heart failure. LVADs have witnessed significant advancements in technology and design, making them a highly reliable and efficient option for patients. Continuous research and development (R&D) efforts have led to improvements in LVAD durability, miniaturization, and enhanced control systems. These advancements have improved patient satisfaction, better outcomes, and a higher likelihood of successful long-term support. The ability of LVADs to provide reliable and effective mechanical support to the left ventricle has made it a preferred choice for patients and healthcare professionals, fueling the segment growth. Additionally, the LVAD has a broader range of applications compared to other VADs. It can be used as a bridge to transplantation, as a destination therapy for patients who are not eligible for transplantation, or as a temporary support measure during recovery from cardiac procedures. This versatility and adaptability of LVADs have expanded their usage and further contributed to their dominance in the market.

Breakup by Flow Type:

• Pulsatile Flow
• Non-Pulsatile or Continuous Flow

Non-pulsatile or continuous flow dominates the market

The report has provided a detailed breakup and analysis of the market based on the flow type. This includes pulsatile flow and non-pulsatile or continuous flow. According to the report, non-pulsatile or continuous flow represented the largest segment.

Continuous flow VADs offer several advantages over pulsatile devices. They provide a smooth and continuous blood flow, resulting in reduced mechanical stress on blood cells and lower chances of device-related complications such as hemolysis. Their simplified design with fewer moving parts contributes to higher durability and longer device lifespan. These benefits make CF-VADs more reliable, efficient, and appealing to healthcare providers and patients. Moreover, CF-VADs are generally smaller and more compact compared to pulsatile devices. This smaller size allows easier implantation and greater patient comfort. The reduced invasiveness of the implantation procedure and the potential for fewer post-operative complications contribute to the preference for CF-VADs.

In addition, continuous flow devices have demonstrated excellent long-term outcomes in clinical studies. They have shown remarkable patient survival rates, improved quality of life, and a lower incidence of adverse events compared to pulsatile devices. These positive clinical outcomes have solidified the position of CF-VADs as a preferred choice for patients and healthcare professionals, contributing to segment growth. Besides this, advancements in technology have led to notable innovations in pump design, control algorithms, and driveline technologies. Such advancements have enhanced device performance, reduced power consumption, and increased patient mobility, further augmenting segment growth.

Breakup by Product Type:

• Implantable Ventricular Assist Devices
• Non-implantable Ventricular Assist Devices

Implantable ventricular assist devices represent the largest product type

The report has provided a detailed breakup and analysis of the market based on the product type. This includes implantable ventricular assist devices and non-implantable ventricular assist devices. According to the report, implantable ventricular assist devices represented the largest segment.

Implantable ventricular assist devices (VADs) offer a more permanent and long-term solution for patients with advanced heart failure. Unlike external or temporary VADs, which require external power sources and drivelines, implantable VADs are surgically implanted within the patient's body. This facilitates greater mobility, convenience, and improved quality of life for patients. Implantable VADs provide continuous mechanical support to the failing heart, enabling patients to resume normal activities while awaiting transplantation or as destination therapy. Recent technological advancements have made implantable VADs more reliable, compact, and durable. Innovations in device design, materials, and control systems have improved patient outcomes and reduced the risk of device-related complications. These advancements have instilled confidence in healthcare professionals and patients, contributing to the segment expansion.

Furthermore, the rising prevalence of heart failure and the limited availability of suitable donor hearts have augmented the demand for long-term mechanical circulatory support. Due to their ability to provide sustained assistance to the weakened heart, implantable VADs have emerged as a preferred option for patients who are not eligible for transplantation or face significant waiting times. The need for a more permanent solution also fuels the growth of the implantable VADs segment. Besides this, the increasing success rate and positive clinical outcomes associated with implantable VADs have made them a widely accepted treatment option. Extensive research, clinical trials, and real-world evidence have demonstrated the efficacy and safety of implantable VADs, further accelerating their adoption. Healthcare professionals have gained experience and expertise in implantation procedures and post-operative management, contributing to the dominance of implantable VADs in the market.

Breakup by Application:

• Bridge-to-Transplant (BTT) Therapy
• Destination Therapy
• Bridge to Recovery and Bridge to Candidacy

Bridge-to-transplant (BTT) therapy accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the application. This includes bridge-to-transplant (BTT) therapy, destination therapy, and bridge to recovery and bridge to candidacy. According to the report, bridge-to-transplant (BTT) therapy represented the largest segment.

Bridge-to-transplant (BTT) therapy addresses a critical and time-sensitive medical need. Patients with end-stage heart failure who are waiting for a suitable donor heart face a high risk of mortality. The BTT therapy approach aims to provide temporary mechanical support to these patients, keeping them stable and improving their chances of receiving a heart transplant. The urgency and life-saving nature of BTT therapy is strengthening the segment growth. In addition, the availability of suitable donor hearts for transplantation is limited. There is a significant shortage of donor hearts compared to the number of patients awaiting transplantation. This scarcity makes it essential to bridge the gap between a patient's deteriorating heart function and the availability of a donor heart. VADs serve as a bridge, providing vital circulatory support and extending patients' lives while they wait for a suitable heart transplant. The BTT therapy approach thus becomes crucial in improving patient survival rates and overall outcomes, propelling the growth of this segment. Moreover, advancements in VAD technology, such as improved device design, enhanced durability, and better patient management strategies, have further solidified the position of BTT therapy as the largest application segment. Such advancements have led to better patient outcomes, reduced complications, and improved patient eligibility for BTT therapy.

Breakup by End User:

• Ambulatory Surgery Centers
• Hospital
• Others

Hospital holds the leading position in the market

The report has provided a detailed breakup and analysis of the market based on the end user. This includes ambulatory surgery centers, hospital, and others. According to the report, hospital represented the largest segment.

Hospitals are equipped with advanced medical infrastructure and specialized cardiac care units, making them well-suited to handle complex cardiac conditions such as heart failure. They have the required surgical facilities, intensive care units (ICUs), and cardiac teams to implant and manage VADs effectively. The presence of skilled healthcare professionals, including cardiac surgeons, cardiologists, and critical care nurses, allows hospitals to provide comprehensive care for VAD patients. Treating patients with VADs requires a multidisciplinary approach involving various medical specialties. Collaboration between different departments, such as cardiology, cardiovascular surgery, anesthesiology, and critical care, is vital for the successful management of VAD patients, and hospitals can provide this integrated approach.

Many hospitals are closely associated with or have collaborations with transplant centers. Since VADs are often used as a bridge-to-transplantation therapy, hospitals play a critical role in the evaluation, selection, and management of patients who are awaiting heart transplants. This collaboration enables seamless coordination between the hospital and transplant center to ensure optimal care and timely transplantation when a suitable donor heart becomes available. Hospitals also have experienced medical professionals who specialize in the management of heart failure and VAD therapy. The presence of specialized expertise within hospitals enhances patient outcomes and safety, making them the primary choice for VAD implantation and long-term care, thereby augmenting segment growth. Additionally, the availability of infrastructure for emergency care that ensures timely interventions and the ability to address any urgent needs that may arise during VAD therapy is driving the expansion of this segment.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

North America exhibits a clear dominance in the market

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for ventricular assist devices.

North America held the largest market share since the region has a robust healthcare infrastructure, advanced research facilities, and a strong emphasis on innovation. The region has also been at the forefront of technological advancements in medical devices, including VADs, making North America a hub for device manufacturers and attracting investment in the field. Another contributing aspect is the significant burden of heart failure cases in North America. Factors such as an aging population, sedentary lifestyles, obesity, and a high prevalence of cardiovascular conditions contribute to the high incidence of heart failure in the region. The larger patient pool necessitates a greater demand for VADs as a treatment option, driving market growth in North America.

Furthermore, the region has well-established reimbursement systems, such as Medicare and private health insurance, that often cover VAD implantation procedures. This favorable reimbursement environment reduces financial barriers and promotes accessibility to VAD therapy, contributing to market growth. Also, North America boasts renowned medical centers, leading academic institutions, and experienced healthcare professionals with expertise in VAD therapy. The presence of clinical expertise and an active research community accelerates the growth and acceptance of VADs in North America. In addition, regulatory bodies in North America, such as the U.S. Food and Drug Administration (FDA), have played a significant role in advancing the development, evaluation, and approval of VADs. This supportive regulatory environment has facilitated the commercialization and availability of VADs, propelling market growth in North America.

Competitive Landscape:

The market is witnessing steady growth as it is highly dynamic and characterized by a mix of established players with extensive experience in the field and emerging companies striving to introduce innovative solutions to address the growing demand for advanced mechanical circulatory support. Various key players are increasing their research and development (R&D) efforts to improve device performance, miniaturize devices, enhance durability, and reduce the risk of complications. The market is also experiencing a surge in strategic partnerships, collaborations, and mergers and acquisitions (M&As) among players to expand their market presence and strengthen their product offerings. Companies are focusing on introducing new VAD systems or upgrades to their existing products to capture a larger market share and meet evolving customer needs. These launches often incorporate technological advancements, improved functionality, and enhanced patient outcomes. We expect the market to witness new entrants, consolidation of product portfolios, and a rise in clinical trials and expansion strategies by manufacturers to drive healthy competition within the domain during the forecast period.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Abbott Laboratories
• Abiomed Inc.
• Berlin Heart GmbH (Syscore GmbH)
• Bivacor Inc.
• Calon Cardio
• Cardiacassist Inc. (LivaNova PLC)
• CHF Solutions Inc.
• Jarvik Heart Inc.
• MAQUET GmbH (Getinge)
• Medtronic Inc.
• Syncardia Systems LLC (Versa Capital Management LLC)
• TandemLife (LivaNova PLC)
• Terumo Corporation

Recent Developments:

• In September 2022, Abiomed Inc. announced that the U.S. Food and Drug Administration (FDA) has granted two approvals related to clinical research of Impella heart pumps in acute myocardial infarction (AMI) cardiogenic shock patients. The FDA has approved the on-label RECOVER IV randomized controlled trial (RCT) for AMI cardiogenic shock patients.
• In June 2020, Berlin Heart GmbH announced the completion of the requirement for the Post Market Approval (PMA) by the U.S. FDA in June 2017 for EXCOR Pediatric VAD.
• In February 2020, Abbott Laboratories received Breakthrough Device designation from the U.S. Food and Drug Administration (FDA) for its in-development Fully Implantable Left Ventricular Assist System (FILVAS).

Ventricular Assist Devices Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the ventricular assist devices market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global ventricular assist devices market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the ventricular assist devices industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.