Global Cardiac Assist Devices Market

Report ID : 1236 | Published : 2022-06-03 | Pages: | Format: PDF/EXCEL

The Global Cardiac Assist Devices Market is estimated to reach over USD 10.50 Billion by 2030, exhibiting a CAGR of 14.47 % during the forecast period.  

Cardiac assist devices are used to treat end-stage heart failure and are tailored to the individual's needs. These are designed to assist the heart in operating normally by taking over its function when it becomes weak. Factors driving the growth of the cardiac assist devices market include an increase in the elderly population, which has led to the rise in cardiovascular disorders and an increase in demand for ventricular assist devices due to a scarcity of organ donors. Furthermore, during the forecast period, growth in the number of product approvals is expected to give lucrative prospects for worldwide market advancement. Also, increasing R&D activities, government initiatives to use sustainable components for production, and investments by prominent players are factors expected to create lucrative growth opportunities in terms of revenue for players operating in the global Assist Devices market over the forecast period.

However, high cost and some risks associated with ventricular assist device implantation procedures, such as infection, blood clotting, device problems such as power failure or pumping troubles, coupled with the COVID-19 outbreak, are factors that may limit the growth of the target market during the forecast period.

Market Segmentation:

The Assist Devices market is segmented based on product type, modality, and end-users. Based on the product, the market is segmented as Ventricular Assist Device (VAD) (LVAD, RIVAD, BIVAD) and Intra-Aortic Balloon Pump. Based on modality, the market is segmented into implantable and transcutaneous. The market is segmented into hospitals and ambulatory surgical centres based on end-users.

Based on product, the implantable segment is accounted as a significant contributor in the Assist Devices market.

The implantable category is expected to hold a significant share in the global Assist Devices market in 2021. This growth is due to patients who are unfit for heart transplants increasingly preferring long-term therapeutic options, and this segment is expected to grow at a lucrative rate in the coming years. The market is seeing the introduction of new players with cutting-edge technologies. Furthermore, the increased number of patients with end-stage heart failure who require left ventricular assist devices has supported the segment's rise.

VAD segment witnessed growth at a rapid rate

The Ventricular Assist Devices segment is projected to grow at a rapid rate in the global Assist Devices market. The market is expected to grow due to an increase in the burden of cardiovascular illnesses and the rate of heart failure. Furthermore, an increase in the geriatric population has led to a rise in cardiovascular disorders and an increase in demand for ventricular assist devices due to a scarcity of organ donors, especially in countries such as the US, Germany, UK, China and India.

In the region, the North America Assist Devices market holds a significant revenue share.

The North America Assist Devices market is expected to register the highest market share in terms of revenue soon. The growing demand for innovative technology in Cardiac Assist Devices, as well as the rising prevalence of chronic disease in the region, are driving regional growth. In addition, the development of technologically advanced healthcare facilities in the United States is expected to increase treatment numbers and enhance the market growth.

The Global Cardiac Assist Devices market has the most potential for future growth in Europe and Asia-Pacific. This is related to an increase in the burden of chronic diseases in both European and Asian countries. The cardiac assist devices market in countries such as China, India, and Brazil is projected to expand at a significant growth rate during the forecast period due to increased awareness among people about heart diseases and their treatment.

Competitive Landscape

The key players in the Assist Devices market have shifted their focus towards bio-based components for product manufacturing and are initiating significant strategies such as mergers, acquisitions, and joint ventures of major and domestic players to enhance product portfolio and strengthen their market footprint across the globe. Some of the major key players in the Assist Devices market are Terumo Corporation, Medtronic PLC, Maquette GmbH, Abbott Laboratories, A biomed, Inc., Belton Sp. z ox, Abbott Laboratories, Teleflex Incorporated, Nocardia Systems, LLC, St. Jude Medical Inc, CARMAT, Crave SA, Medtronic PLC, Terumo Heart, Inc., Nova Pump GmbH, Getinge AB, Belton Ltd., Meryl Life Sciences Pvt. Ltd., Throated Corporation, Cardiac Assist, Inc., Berlin Heart GmbH Reliant Heart, In., Senko Medical Instrument Mfg. CO., LTD (Japan), Nocardia Systems, LLC, Teleflex Incorporated, Windmill Cardiovascular Systems, Inc. (WCS), Zeon Corporation and others.

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Cardiac Assist Devices Market Snapshot

Chapter 4. Global Cardiac Assist Devices Market Variables, Trends & Scope

4.1. Market Segmentation & Scope

4.2. Drivers

4.3. Challenges

4.4. Trends

4.5. Industry Analysis – Porter’s Five Forces Analysis

4.6. Competitive Landscape & Market Share Analysis

4.7. Key Trends in the Market

4.8. COVID 19 Impact Analysis

Chapter 5. Cardiac Assist Devices Market Segmentation 1: By Modality Estimates & Trend Analysis

5.1. By Modality & Market Share, 2020 & 2030

5.2. Market Size (Value & Volume) & Forecasts and Trend Analyses, 2022 to 2030 for the following By Modality:

5.2.1. Transcutaneous

5.2.2. Implantable

Chapter 6. Cardiac Assist Devices Market Segmentation 2: By Products Estimates & Trend Analysis

6.1. By Products & Market Share, 2020 & 2030

6.2. Market Size (Value & Volume) & Forecasts and Trend Analyses, 2022 to 2030 for the following By Products:

6.2.1. Ventricular Assist Device (VAD)

6.2.1.1.  Left ventricular Assist Device (LVAD)

6.2.1.2.  Right Ventricular Assist Device (RVAD)

6.2.1.3.  Biventricular Assist Device (BIVAD)

6.2.1.4.  External Ventricular Assist Devices

6.2.2. Intra-Aortic Balloon Pump

Chapter 7. Cardiac Assist Devices Market Segmentation 4: By End-Users Estimates & Trend Analysis

7.1. By End-Users Analysis & Market Share, 2020 & 2030

7.2. Market Size (Value & Volume) & Forecasts and Trend Analyses, 2022 to 2030 for the following By End-Users:

7.2.1. Hospital

7.2.2. Ambulatory Surgical Centers

Chapter 8. Cardiac Assist Devices Market Segmentation 5: Regional Estimates & Trend Analysis

8.1. North America

8.1.1. North America Cardiac Assist Devices Market revenue (US$ Million) and volume (No. of Units) estimates and forecasts By Modality, 2020-2030

8.1.2. North America Cardiac Assist Devices Market revenue (US$ Million) and volume (No. of Units) estimates and forecasts By Products, 2020-2030

8.1.3. North America Cardiac Assist Devices Market revenue (US$ Million) and volume (No. of Units) estimates and forecasts By End-Users, 2020-2030

8.1.4. North America Cardiac Assist Devices Market revenue (US$ Million) and volume (No. of Units) estimates and forecasts by country, 2020-2030

8.1.4.1. U.S.

8.1.4.2. Canada

8.2. Europe

8.2.1. Europe Cardiac Assist Devices Market revenue (US$ Million) and volume (No. of Units) By Modality, 2020-2030

8.2.2. Europe Cardiac Assist Devices Market revenue (US$ Million) and volume (No. of Units) estimates and forecasts By Products, 2020-2030

8.2.3. Europe Cardiac Assist Devices Market revenue (US$ Million) and volume (No. of Units) By End-Users, 2020-2030

8.2.4. Europe Cardiac Assist Devices Market revenue (US$ Million) and volume (No. of Units) by country, 2020-2030

8.2.4.1. Germany

8.2.4.2. Poland

8.2.4.3. France

8.2.4.4. Italy

8.2.4.5. Spain

8.2.4.6. UK

8.2.4.7. Rest of Europe

8.3. Asia Pacific

8.3.1. Asia Pacific Cardiac Assist Devices Market revenue (US$ Million) and volume (No. of Units) By Modality, 2020-2030

8.3.2. Asia Pacific Cardiac Assist Devices Market revenue (US$ Million) and volume (No. of Units) estimates and forecasts By Products, 2020-2030

8.3.3. Asia Pacific Cardiac Assist Devices Market revenue (US$ Million) and volume (No. of Units) By End-Users, 2020-2030

8.3.4. Asia Pacific Cardiac Assist Devices Market revenue (US$ Million) and volume (No. of Units) by country, 2020-2030

8.3.4.1. China

8.3.4.2. India

8.3.4.3. Japan

8.3.4.4. Australia

8.3.4.5. Rest of Asia Pacific

8.4. Latin America

8.4.1. Latin America Cardiac Assist Devices Market revenue (US$ Million) and volume (No. of Units) By Modality, 2020-2030

8.4.2. Latin America Cardiac Assist Devices Market revenue (US$ Million) and volume (No. of Units) estimates and forecasts By Products, 2020-2030

8.4.3. Latin America Cardiac Assist Devices Market revenue (US$ Million) and volume (No. of Units) By End-Users, 2020-2030

8.4.4. Latin America Cardiac Assist Devices Market revenue (US$ Million) and volume (No. of Units) by country, 2020-2030

8.4.4.1. Brazil

8.4.4.2. Rest of Latin America

8.5. MEA

8.5.1. MEA revenue Cardiac Assist Devices Market revenue (US$ Million) and volume (No. of Units) By Modality, 2020-2030

8.5.2. MEA Cardiac Assist Devices Market revenue (US$ Million) and volume (No. of Units) estimates and forecasts By Products, 2020-2030

8.5.3. MEA revenue Cardiac Assist Devices Market revenue (US$ Million) and volume (No. of Units) By End-Users, 2020-2030

8.5.4. MEA revenue Cardiac Assist Devices Market revenue (US$ Million) and volume (No. of Units) by country, 2020-2030

8.5.4.1. South Africa

8.5.4.2. Rest of MEA

Chapter 9. Competitive Landscape

9.1. Major Mergers and Acquisitions/Strategic Alliances

9.2. Company Profiles

9.2.1. Terumo Corporation

9.2.2. Medtronic PLC

9.2.3. Maquet GmbH

9.2.4. Abbott Laboratories

9.2.5. Abiomed, Inc.

9.2.6. Balton Sp. z o.o

9.2.7. Berlin Heart GmbH

9.2.8. BiVACOR, Inc.

9.2.9. BioVentrix, Inc.

9.2.10. Calon Cardio-Technology Ltd

9.2.11. CardioBridge GmbH

9.2.12. Carmat SA (France)

9.2.13. CardiacBooster BV

9.2.14. CARDIAnove Inc

9.2.15. CorAssist Cardiovascular Ltd

9.2.16. Cleveland Heart, Inc.

9.2.17. CorWave S.A.

9.2.18. Evaheart, Inc.

9.2.19. FineHeart SARL

9.2.20. Fresenius Medical Care AG & Co. KGaA (Xenios AG)

9.2.21. GPB Life Science Holdings LLC (Insightra Medical, Inc.)

9.2.22. Getinge AB (Maquet Holding)

9.2.23. Jarvik Heart, Inc.

9.2.24. Livanova, PLC (Tandem Life)

9.2.25. Medtronic, PLC

9.2.26. MiTiHeart Corporation

9.2.27. OregonHeart

9.2.28. ReliantHeart, Inc.

9.2.29. Senko Medical Instrument Mfg. CO., LTD (Japan)

9.2.30. SynCardia Systems, LLC

9.2.31. Teleflex Incorporated

9.2.32. Windmill Cardiovascular Systems, Inc. (WCS)

9.2.33. Zeon Corporation

9.2.34. 8.3. List of Other Prominent Players

Segmentation of Cardiac Assist Devices Market-

By Product-

Market by Modality

  • Transcutaneous
  • Implantable

Market by Products

  • Ventricular Assist Device (VAD)
    • Left ventricular Assist Device (LVAD)
    • Right Ventricular Assist Device (RVAD)
    • Biventricular Assist Device (BIVAD)
    • External Ventricular Assist Devices
  • Intra-Aortic Balloon Pump

Market by End-Users

  • Hospital
  • Ambulatory Surgical Centers"

By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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