Ventricular Assist Device Market Analysis Focusing on Top Key Players – Abiomed, Inc., Asahi Kasei Corporation (Evaheart Medical U.S.A., Inc.), Abbott Laboratories (St. Jude Medical, Inc.) and more

The global ventricular assist device market is estimated at $ 890 million in 2016 and is expected to reach $ 1773 million in 2023, growing at a CAGR of 11.8% from 2017 to 2023.

The ventricular assist device (VAD) is used to assist damaged or weakened heart when pumping blood. This device is surgically attached to one or both of the intact ventricles to aid cardiac circulation.

Key factors contributing to market growth include technological advances in ventricular assist devices, patient awareness of heart monitoring, and treatment options for heart disease management. Moreover, the growing need for medical services in developing and developing world economies is expected to provide opportunities for market growth. However, the main challenge in the marketplace is the high cost of the VAD procedure. In addition, bleeding complications and other related risks impede the growth of the ventricular assist device market.

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The major companies profiled in the report are
• Abiomed Inc.
• Asahi Kasei Corporation (Evaheart Medical U.S.A. Inc.)
• Abbott Laboratories (St. Jude Medical Inc.)
• Berlin Heart GmbH
• Calon Cardio-Technology Ltd.
• CardiacAssist Technologies
• Jarvik Heart Inc.
• Medtronic plc
• ReliantHeart Inc.
• Terumo Medical Corporation.

By product, LVADs accounted for the largest share of the global ventricular assistant market in 2016. By application, bridge implantation generated the largest revenue, accounting for more than 49% of the global ventricular assistant market worldwide in 2016. In addition, the destination treatment segment is expected to witness the highest CAGR of 13.4% during the forecast period. By design, implantable ventricular assist devices dominate the market in 2016 with a quarter share of the worldwide ventricular assist device market.

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Key Findings of the Ventricular Assist Devices Market:
• The left ventricular assist devices (LVADs) segment is projected to grow at a significant CAGR of 11.7%, during the forecast period (2017-2023).
• Transcutaneous ventricular assist device is projected to grow at a significant CAGR, during the forecast period.
• Destination therapy accounted for more than one-fourth share of the global market in 2016.
• Germany and France are the major shareholders, and together accounted for more than one-third share of the European market in 2016.
• Japan is the major shareholder, accounting for more than one-third share of the Asia-Pacific market in 2016.

The Asia-Pacific market is projected to grow at the highest CAGR of 14.9% during the forecast period, owing to increase in awareness about the benefits of digital wound measurement devices in healthcare industry and rise in expenditures in emerging markets (such as India and China) to cater to the unmet medical needs.

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