Ventricular Assist Devices (VAD) Market Assessment
Depending on the type, the ventricular assist devices market is segmented into left ventricular assist device (LVAD), right ventricular assist device (RVAD), biventricular assist devices (BIVADs). The pump can be implanted inside the body (implantable VAD), or placed outside the body (external or paracorporeal VAD). Thoratec Corporation manufactured pVAD is a pneumatically driven device that can provide uni- as well as bi-ventricular support. The HeartMate is an implantable device specifically designed for long-term cardiac support. Improving technology has made ventricular assist devices more efficient and compact. These newer devices are easy to control and offer better patient convenience. Companies are also investing heavily in research and development of innovative cardiac assist devices. In 2016, Jarvik Heart, Inc., one of the leading players in the ventricular assist devices market received FDA approval for clinical trial of miniature heart assist device for infants. The study is managed by the New England Research Institutes, and will ultimately enroll over 85 patients in the U.S. and Canada. HeartMate II Left Ventricular Assist System manufactured by Thoratec Corporation and HeartWare Ventricular Assist System HVAD manufactured by HeartWare, Inc. are currently the two implantable LVADs approved by the FDA.
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According to the Centers for Disease Control and Prevention, more than 5.5 million adults in the United States have heart failure, and 50% of these patients die within 5 years of diagnosis. The America Heart Association also mentions that over 85 million individuals in the U.S. are living with cardiovascular diseases. Other countries with highest mortality rate due to cardiovascular disorders include Russia, Ukraine, Romania, Hungary, and Cuba. Recent study published by Harvard T.H. Chan School of Public Health indicates a steep rise in rise in cardiovascular disease (CVD) in China in the past decade. The study also mentions that the prevalence of high blood pressure in 1979 was 7.7%, and it increased to 33.5% in 2010. These factors would potentially drive the ventricular assist devices market.
In spite of availability of large patient pool globally and increasing demand, the ventricular assist devices market is impeded due to recalls by regulatory agencies. Majority of the recalls are due to design issues that may lead to serious complications or even patient death. 105 units of Heartware HVAD Pump were recalled in March 2016 due to faulty driveline connector design.
Key players in the market include Abiomed, Heart Ware International, Thoratec, Berlin Heart, Cardiac Assist, Jarvik Heart, and Reliant heart.
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Spearhead Acuity Business Research & Consulting Private Limited (SA-BRC) is a premium Life Science business intelligence and data analytics firm. SA-BRC team offers a wide range of business intelligence services to multiple stakeholders such as Medical Device Manufacturers, Service Providers (Hospitals, Payers, etc.), Suppliers, Group Purchase Organizations, Distributors and all other individuals in the entire value chain of healthcare industry. Our research and consulting capabilities extend across several sub-domains within the sphere of Life Sciences such as Biotechnology, Healthcare IT, Medical Devices, Veterinary Sciences, Wellness Products and Pharmaceuticals.
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