Revenue Growth Of The Ventricular Assist Devices Market To Be Influenced By Growing End-use Adoption
Ventricular assist device, which is also known as VAD, is a mechanically assisted pump which is being used to support heart function and flow of blood in people who have weakened hearts. Ventricular assist device works by taking blood from a lower chamber of the heart and helps pump it to the body & organs similar to a healthy heart.
A VAD supports patient’s heart through or after surgery until the heart recovers, while patient is waiting for a heart transplant or if patient is not eligible for a heart transplant. A VAD can also be a long-term solution for patients with cardiac disorders.
A VAD has several basic parts such as, a small tube that carries blood out of the heart into a pump; another tube that carries blood from the pump to the blood vessels, which deliver the blood to body. A VAD also has a power source that connects to a control unit which monitors the VAD’s functions.
If the power is low or the device isn’t working well, it gives warnings, or alarms. Some VADs pump blood similarly as heart does, with a pumping action. Other VADs keep up a continuous flow of blood. With a continuous flow VAD, patient might not have a normal pulse, but the body gets the blood it requires.
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Initially designed as temporary support to bridge patients to heart transplant, these devices are now available and increasingly being used as lifetime support or destination therapy. Advancements in VAD design, along with advances in surgical and medical management, have permitted VAD patients to return home, and to their communities, with excellent quality of life.
According to Scientific Registry of Transplant Recipients (SRTR) and Organ Procurement and Transplantation Network (OPTN), in 2014, approximately 2,431 heart transplants were conducted and as of February 2015, the number of people awaiting the heart transplantation reached 3,986.
The global market for ventricular access devices market is segmented on basis of type of devices, design, end user and geography:
- Segmentation by Type of Devices
Right Ventricular Assist Devices (RVAD)
Left Ventricular Assist Devices (LVAD)
Bipolar Ventricular Assist Devices (BVAD)
- Segmentation by Design
Transcutaneous Ventricular Assist Device
Implantable Ventricular Assist Device
- Segmentation by End User
Ambulatory Surgical Centers
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The two basic types of VADs are a left ventricular assist device (LVAD) and a right ventricular assist device (RVAD). If both types are used at the same time, they’re called a biventricular assist device (BIVAD). The LVAD is the most common type of VAD. It helps the left ventricle pump blood to the aorta.
The aorta is the main artery that carries oxygen-rich blood from the heart to the body. RVADs usually are used only for short-term support of the right ventricle after LVAD surgery or other heart surgery. RVAD helps the right ventricle pump blood to the pulmonary artery. This is the artery that carries blood from the heart to the lungs to pick up oxygen. A BIVAD might be used if both ventricles don’t work well enough to meet the body’s needs.
VADs have two basic designs. A transcutaneous VAD has its pump and power source located outside of the body. Tubes connect the pump to the heart through small holes in the abdomen. This type of VAD might be used for short-term support during or after surgery. An implantable VAD has its pump located inside of the body and its power source located outside of the body.
A cable connects the pump to the power source through a small hole in the abdomen. Implantable VADs are used mainly for people who are waiting for heart transplants or as a long-term solution for people who can’t have heart transplants.
On the basis of regional presence, global ventricular assist devices market is segmented into five key regions viz. North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is expected to gain more than half of market share of the global ventricular assist devices market due to increasing prevalence of cardiovascular diseases such as hypertension, stroke coronary heart disease, and heart failure.
Asia Pacific is expected to be the fastest growing regional market with highest CAGR during the forecast period. Increasing prevalence of cardiovascular disease which in turn leads to stroke, heart failure, and other end-stage cardiovascular diseases and constantly improving healthcare infrastructure are key factors driving the industry growth.
Some of the major players in global ventricular assist devices market are Abiomed, Heart Ware International, Thoratec, Berlin Heart, Cardiac Assist, Jarvik Heart, Reliant heart, etc.
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The report covers exhaustive analysis on:
- Ventricular Assist Devices Market Segments
- Ventricular Assist Devices Market Dynamics
- Historical Actual Market Size, 2013 – 2015
- Ventricular Assist Devices Market Size & Forecast 2016 to 2024
- Ventricular Assist Devices Market Current Trends/Issues/Challenges
- Competition & Companies involved
- Ventricular Assist Devices Market Drivers and Restraints
Regional analysis includes
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
- Shifting Industry dynamics
- In-depth market segmentation
- Historical, current and projected industry size Recent industry trends
- Key Competition landscape
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards market performance