Cardiac Assist Devices Market to Record an Exponential CAGR by 2025
Cardiac Assist Devices (CAD) are type of mechanical pumps that work along with the heart to improve its pumping efficiency and maintain the optimum blood flow throughout the body. The devices are typically employed in patients suffering from End-Stage Congestive Heart Failure, where the chances of survival through oral medications alone become minimal. The scarcity of donor organs has led to the development of these devices.
Globally, there are around 23 million cases of HF and around 5.8 million people in United States have HF. About half of the people who develop heart failure die within 5 years of diagnosis.
Cardiac Assist Devices Market: Drivers & Restraints
The Cardiac Assist Devices market is driven by aging population, increasing prevalence of HF, high adaptation rates of these devices, and new technology innovations.
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Increasing rates of cardiovascular diseases and aging population has boosted the cardiac assist devices market globally. The shortage of donor hearts for transplantation is also leading to an increase in adoption of cardiac assist devices in patients with end-stage heart failure.
Cardiac assist devices are also being used as a Bridge-To-Transplantation (BTT), Bridge-To-Recovery (BTR) or Destination Therapy (DT), depending on the requirement of the patient and the severity of the disease. Technological advancements that make the devices more efficient and minimally invasive are expected to further drive the demand for cardiac assist devices in the future.
Presence of alternative treatment like heart transplantation, pacemaker and etc. and the few risk which are associated with the device implantation, such as development of blood clots, respiratory failure and device failure and other surgical complications such as bleeding, kidney failure, stroke and infection. Such complication are acting as a barrier in the adoption of such treatment and devices.
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Cardiac Assist Devices Market: Segmentation
The global market of cardiac assist devices is segmented into following types:
Ventricular Assist Devices (VAD)
Intra-Aortic Balloon Pumps (IABP)
Total Artificial Heart (TAH)
Further, Ventricular Assist Device (VAD) are segmented into the following types based on the defect and placement of the device.
Left Ventricular Assist Device (LVAD)
Right Ventricular Assist Device (RVAD)
Bi-Ventricular Assist Device (Bi-VAD)
External Ventricular Assist Device (VAD)
Cardiac Assist Devices Market: Overview
With rapid technological advancement and wide acceptance of cardiac surgery procedures among patients with heart problem, the global cardiac assist devices market is expected to exhibit a double-digit growth in the forecast period (2015-2025).
With FDA approving SynCardia System’s Total Artificial Heart to conduct clinical studies on destination therapy, more and more end stage heart failure patient will be benefit from this nature of therapy and the market is expected to expand significantly in the forecast period.
Cardiac Assist Devices Market: Region-wise Outlook
Depending on geographic regions, global cardiac assist devices market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa.
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North America is the leading markets for cardiac assist devices with highest prevalent cases with heart failure, technological development, high patient awareness and reimbursement coverage for CAD implantation procedures. Europe is the second largest market followed by Asia Pacific and Japan.
Cardiac Assist Devices Market: Key Players
Some of the key market players in global cardiac assist devices market are Thoratec Corporation, MAQUET GmbH & Co., Teleflex Incorporated, Heart Ware International, Berlin Heart GmbH, ABIOMED and SynCardia Systems, Inc.
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