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IQ4I Research & Consultancy published a new report on “Cardiac Assist Devices (CAD) Global Market – Forecast To 2027”

IQ4I Research & Consultancy published a new report on “Cardiac

Cardiac assist devices (CAD) are mechanical circulatory support devices used to treat end-stage heart failure, refractory angina pectoris, post-cardiopulmonary bypass shock, myocardial infarction, myocarditis and others. Heart failure which affects close to 64.3 million people every year is a chronic disease that occurs when degeneration of the heart muscle reduces the pumping power of the heart, causing the heart to become too weak to pump blood at a sufficient level to meet the body's demands. Coronary artery disease, heart attack, and high blood pressure which affects close to 1.5 million people every year in U.S. alone are the major risk factors which lead to heart failure, other conditions include valvular heart disease (damaged heart valves), cardiomyopathy (damaged heart muscles) and diabetes. The cardiac assist devices are classified into three types i.e. Ventricular Assist Devices (VAD), Total Artificial Heart (TAH) and Intra-Aortic Balloon Pump (IABP). Ventricular assist devices (VAD) support ventricles mechanically of a failing heart and depending on the ventricle supported, these devices are classified as LVAD, which assists left ventricle, while RVAD supports right ventricle, and Bi-Ventricular Assist devices (BiVAD) assists both ventricles. The total artificial heart is a mechanical circulatory assist device for people with biventricular heart failure and heart transplant candidates and replaces function of all the four chambers of the heart, thereby eliminating the symptoms of cardiac insufficiency or heart failure. The Intra-aortic balloon pump (IABP) or counter pulsation circulatory assist device is placed in the aorta to help the heart to pump more blood by reducing the workload on the heart and improves the function of the left ventricle as this is the chamber that pumps blood into the aorta. IABP is used in conditions such as acute mitral valve regurgitation or severe heart failure, left ventricular failure, unstable angina and others. It is also used during preoperative, intraoperative, or postoperative cardiac surgeries.

According to IQ4I Analysis, the CAD global market is is expected to grow at high single digit CAGR from 2020 to 2027 to reach $4,813.5 million by 2027. Increasing incidence of heart failure, shortage of heart donors, technological advancements are some of the driving factors of the market. While factors such as rising geriatric population, vast pipeline of products and increasing in funding are providing opportunities for growth. On the other hand, adverse events and complications with the implantation of the CAD and lack of skilled and trained professionals are restraining the market growth and stringent regulatory guidelines, and availability of alternative products are threats to the market growth.

The cardiac assist devices (CAD) market is segmented into Product, Implant, Pump, Patient, Applications, and Geography. Among the segments of CAD product market, VAD commanded the largest share in 2020 and is expected to grow at a strong CAGR from 2020 to 2027. Among the sub-segments of VAD, LVAD commanded the largest share in 2020 and is expected to grow at a strong CAGR from 2020 to 2027 and the number of LVAD units implanted globally is estimated to be XX in 2020. Among the sub-segments of VAD, percutaneous VAD commanded the largest revenue in 2020. The percutaneous CAD dominates the CAD implant market with a share of XX% in 2020 and is expected to grow at a strong double digit CAGR from 2020 to 2027. Abiomed, the leader of the percutaneous VAD market has developed the world’s smallest catheter-based percutaneous heart pump that provides hemodynamic support to the heart, and has received FDA approval for conducting human clinical trials in 2020. Abiomed Impella heart pump (Impella series - Impella 2.5, Impella 5.0, Impella CP, and Impella RP) is FDA approved and presently is one of the factors for driving the Percutaneous VAD market. In 2020, Impella 5.0/Impella LD has received approval from the National Agency for the Safety of Medicines and Health Products, France. Upcoming technological development in a percutaneous pump like CardioBridge short term intra-aortic percutaneous circulatory support device will boost the percutaneous VAD market in the future.
Based on pump type the CAD market splits into continuous & pulsatile, the continuous flow pump segment accounted for the largest share in 2020 and is estimated to grow at a strong CAGR from 2020 to 2027. Among the sub-segment of continuous flow pump, axial flow pump commanded the largest share in 2020. In the market by patient type, the adult CAD segment accounted for the largest share in 2020 and is estimated to grow at a strong CAGR from 2020 to 2027. Among the Cardiac assist devices applications, Bridge to Recovery (BTR) held the largest share in 2020 and is expected to grow at a strong CAGR from 2020 to 2027.

Advancements such as extra aortic balloon pump, Non-Blood-Contacting CADs, and muscle powered VADs will drive the Cardiac assist devices market. The new trend among the innovative companies is the development of Non-Blood Contacting CADs, for instance, CorInnova, Inc (U.S.) is developing a minimally invasive, non-blood contacting cardiac assist device to treat acute heart failure patients. The device increases cardiac output without touching the blood, thereby eliminating the risk of thrombosis and stroke. Similarly, Adjucor GmbH, a German based company has developed BEAT system, an inflatable, minimally invasive, bio-durable bi-ventricular CAD device. VAD and TAH are getting miniaturized so that the devices are suitable for a wide range of the patient group. For instance, in 2020, HeartMate III left ventricular assist system (LVAS) has received FDA approval to be used in pediatric patients with advanced refractory left ventricular heart failure.

According to IQ4I analysis, the Cardiac Assist Devices market is highly consolidated with the top five players occupying close to XX% share of the market and the remaining XX% of the market is occupied by other players. The top players in the market are Abiomed Inc, Abbott Laboratories, Getinge Group, Medtronic PLC and Teleflex Inc., which have strong distribution network, follow strategy of regulatory approvals to introduce advanced products. For instance, in December 2020, Abbott received the U.S. Food and Drug Administration (FDA) approval for updated labeling of HeartMate 3 heart pump to be used in pediatric patients with advanced refractory left ventricular heart failure. HeartMate 3 pump showed a survival rate of 79% at two years compared to patients receiving a heart transplant. In May 2021, Medtronic stopped distribution and sales of their HVAD system due to repeated recalls and several legal cases. Also, Medtronic has conveyed that it would redirect the patient of its HVAD device to Abbott’s Heartmate device. This situation creates an opportunity for Abbott to further strengthen their position against competitors in the VAD market. However, it would also present Abbott with the challenge to train doctors for implantation of its device in the short time span.

The Cardiac assist devices global market based on geography is divided into North America, Europe, Asia-Pacific, and the Rest of the world. North America region commanded the largest revenue in 2020. The high prevalence of cardiovascular diseases such as congestive heart failure, cardiogenic shock, congenital heart diseases, and other diseases such as diabetes, and increasing healthcare spending are driving this market specifically in U.S. and Canada. However, Asia-Pacific is expected to grow at a strong CAGR from 2020 to 2027 owing to the rapidly increasing aging population with a high prevalence of cardiovascular diseases, improving healthcare infrastructure and rise in healthcare spending in the emerging countries, such as India and China will further provide a greater opportunity for cardiac assist device market.

Analysis by IQ4I indicate that, many products are under clinical trials (most of them are in phase II) for instance, Calon miniVAD is ready for human clinical study in the UK/Europe and an Early Feasibility Study in the USA will emerge in the future CAD market in the upcoming two years. Similarly, during the period from January 2020 to June 2021, close to $XX million funding was provided to various product development projects, for instance, in January 2021, CorWave SA received $40.0 million in funding from three investors for the development of its wave membrane LVAD pump. Analysis of market penetration data of VAD, PVAD and IABP products indicates that the market is under penetrated and there is a huge untapped growth opportunity, for instance, the highly developed U.S., VAD market has the penetration rate for only XX%, similarly for the PVAD, the penetration rate is only XX%.

Major players in the Cardiac Assist Devices global market include Abiomed Inc (U.S.), Abbott Laboratories (U.S.), Medtronic, PLC (Ireland), Syncardia Systems LLC (U.S.), Teleflex Incorporated (U.S.), Zeon Corporation (Japan), Getinge Group (Sweden), Berlin Herat GmbH (Germany), ReliantHeart, Inc. (U.S.), Livanova, PLC (Tandem Life), (U.K.), Evaheart, Inc. (U.S.), Fresenius Medical Care AG & Co. KGaA Care (Germany)

Some of the emerging companies operating in the Cardiac Assist Devices global market include Jarvik Heart, Inc. (U.S.), Procyrion, Inc (U.S.), Balton Sp. z o.o (Poland), Calon Cardio -Technology Ltd (U.K.), Carmat SA (France), CardioBridge GmbH (Germany), Cleveland Heart, Inc. (U.S.), CorWave (France), BiVACOR, Inc. (U.S.), ReinHeart TAH GmbH (Germany), FineHeart SARL (France), MiTiHeart Corporation (U.S.), Scandinavian Real Heart (Sweden), Senko Medical Instrument Mfg. CO., LTD (Japan), Windmill Cardiovascular Systems, Inc. (U.S.) and others.

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IQ4I (Intelligence Quotient for Innovation) Research and Consultancy Pvt. Ltd. is a global strategy, consulting and a leading market research company. Our clients include leading businesses, investment banks, researchers and government agencies.

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