Percutaneous Mechanical Circulatory Support Devices Market Analysis to 2025: Abbott, Medtronic, Getinge, Teleflex, LivaNova, ABIOMED, EUROSETS, Berlin Heart, Jarvik Heart, and CardioBridge

The global percutaneous mechanical circulatory support devices market accounted to US$ 1,188.2 Mn in 2017 and is expected to grow at a CAGR of 12.3% during the forecast period 2018 - 2025, to account to US$ 2,977.8 Mn by 2025.

Driving factors such as increasing geriatric population, increasing prevalence of cardiovascular diseases and shortage of heart donors are expected to boost the market growth over the years. However, high costs of these devices and procedures associated with them as well as product recalls are likely to have a negative impact on the growth of the market in the coming years. On the other hand, development of market from the emerging nations is one of the rising opportunity that can be focused by market players to venture and gain significant revenues.

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Key market players of percutaneous mechanical circulatory support devices market are Abbott, Medtronic, Getinge AB, Teleflex Incorporated, LivaNova PLC, ABIOMED, EUROSETS, Berlin Heart, Jarvik Heart, Inc., and CardioBridge GmbH among others.

The market players are indulged into bringing new products to the market to keep to the pace of the competitive market nature. For instance, in October 2018, Abbott received approval for the HeartMate 3 Left Ventricular Assist Device (LVAD) as a destination therapy for people living with advanced heart failure. With the approval, physicians can now offer the HeartMate 3 system to patients not eligible for a transplant who will live with their device for the rest of their lives. Moreover, in May 2017, Teleflex Incorporated received FDA 510 (k) clearance for its Arrow AC3 Optimus intra-aortic balloon pump. The device is designed to help weakened hearts pump blood and can deliver IABP therapy to a broad range of patients, including candidates who had previously not been considered for IABP therapy.

The intra-aortic balloon pumps segment held the major market share among the product segment in the percutaneous mechanical circulatory support devices market

Global percutaneous mechanical circulatory support devices market, based on the product was segmented into intra-aortic balloon pumps, VA-extracorporeal membrane oxygenators (ECMO), and short-term ventricular assist devices. In 2017, the intra-aortic balloon pumps segment held a largest market share of 42.0% of the percutaneous mechanical circulatory support devices market, by product. This segment is also expected to dominate the market in 2025. The use of IABP is likely to be more prevalent in the coming years and advancements in the technology of these pumps can prove useful to assess the effectiveness of acute interventions that is likely to increase the demand of these products. Furthermore, the short-term ventricular assist devices segment is anticipated to witness the fastest growth rate during the forecast period, 2018 to 2025.

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Strategic Insights

Product approval and acquisition were observed as the most adopted strategy in global percutaneous mechanical circulatory support devices industry. Few of the recent product approvals and acquisitions are listed below:

2018: Abbott received approval for the HeartMate 3 Left Ventricular Assist Device (LVAD) as a destination therapy for people living with advanced heart failure. With the approval, physicians can now offer the HeartMate 3 system to patients not eligible for a transplant who will live with their device for the rest of their lives.

2018: Teleflex Incorporated received FDA 510 (k) clearance for its Arrow AC3 Optimus intra-aortic balloon pump. The device is designed to help weakened hearts pump blood and can deliver IABP therapy to a broad range of patients, including candidates who had previously not been considered for IABP therapy.

2018: Medtronic completed acquisition of HeartWare International, Inc., a leading innovator of less-invasive, miniaturized, mechanical circulatory support technologies (MCS) for treating patients with advanced heart failure.

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