Global Left Ventricular Assist Device (LVAD) Market - 2023-2030
The global left ventricular assist device (LVAD) market reached US$ 1.4 billion in 2022 and is expected to witness lucrative growth by reaching up to US$ 2.3 billion by 2030. The global left ventricular assist device (LVAD) market is expected to exhibit a CAGR of 7.2% during the forecast period (2023-2030).
Left Ventricular Assist Devices (VAD) are mechanical circulatory support strategies planted in heart failure individuals with intense manifestation and operation by pumping blood from the chambers of the heart to the entire body. The increase in the number of heart failures, rising type launches, advancements, and increasing market developments are among the factors expected to boost the global left ventricular assist device (LVAD) market growth in the forecast period.
Market Dynamics
Increasing Cases Of Heart Failure Drive The Growth Of The Left Ventricular Assist Device (LVAD) Market.
The increasing cases of heart failure are expected to boost the global left ventricle assist device market growth in the forecast period. Heart failure is extremely typical. Although improvement is created in the treatment of multiple states of heart conditions, heart failure is a growing concern globally. For instnace, according to the Heart Failure Society of America, the current assessments are that nearly 6.5 million Americans over the age of 20 suffer heart failure. One significant investigation assessment indicates that there are over 960,000 fresh heart failure patients yearly. Not only is heart failure a significant issue impacting a considerable number of individuals, but heart failure is even a prominent killer. Heart failure directly accounts for approximately 8.5% of all heart condition deaths in the United States. And, to some assessments, heart failure contributes to about 36% of all cardiovascular disease deaths.
The Increase in Research Activities is Expected To Present The Global Left Ventricular Assist Device (LVAD) Market With Growth Opportunities.
Increasing research initiatives are estimated to boost the global For instance, in the foremost action in ensuring FDA authorization, Israel-based device maker Magenta Medical is initiating a premature feasibility investigation with its Elevate percutaneous Left Ventricular Assist Device (pLVAD) for high-risk percutaneous coronary intervention (HR-PCI).
The High Cost of LVAD Implantation is Estimated To Hamper The Global Left Ventricular Assist Device (LVAD) Market During The Forecast Period.
The high cost of LVAD implantation is estimated to hamper the global left ventricular assist device market growth in the forecast period. For instance, according to the NIH, the mean cost of LVAD implantation was USD 175,420. However, LVADs proven heart failure patients improved quality of life but substantially increased lifetime costs because of frequent readmissions and costly follow-up care.
COVID-19 Impact Analysis
The financial health of companies across all industries has been impacted by the COVID-19 pandemic and lockdown in numerous nations throughout the world. Therefore, for the period of the COVID-19 public health emergency, the U.S. Food and Drug Administration (FDA) issued guidelines that include general considerations to aid sponsors and researchers, ensuring the safety of trial participants, adhering to good clinical practice (GCP), and minimizing risks to trial integrity.
Russia-Ukraine War Impact Analysis.
The Russia-Ukraine conflict is thought to hold a moderate influence on the global left ventricular assist device (LVAD) market, as there is a low incidence of heart failure and a lack of primary market players in this region. Though continuing to countenance invasions from Russian armies, Ukrainian clinics are forced by growing numbers of deaths and limited medical aid. There are shortages across all types of medications. Again, the significance of the import and export of raw materials are expected to slightly impact the global Left Ventricular Assist Device (LVAD) market growth in the forecast period.
Segment Analysis
The global left ventricular assist device (LVAD) market is segmented based on type, pump type, application, end-user, and region.
The Implantable LVAD Type is Estimated to Dominate the Global Left Ventricular Assist Device (LVAD) Market.
Owing to the increase in the procedures of implantable LVAD, implantable LVAD is estimated to hold around 23.9% of the global market share by 2030. For instnace, in July 2022, a team from Emory’s Heart and Vascular Center conducted its 500th continuous flow, durable left ventricular assist device (LVAD) implantation, additionally establishing Emory Healthcare’s position as a national leader in the life-saving procedure.
Geographical Analysis
Europe is Estimated to Hold 27.1% of the Market Share Owing to the Key Player’s Efforts in this Region.
Owing to the key player’s efforts in the Europe region, the region is estimated to hold around 27.1% of the global market share. For instance, UK-based Calon Cardio-Technology Ltd. seeks to obtain the CE Mark for its MiniVAD in earlier 2024, by which period a US FDA Early Feasibility Study is expected to have been concluded. The corporation pursues to boost investments of almost USD 47 million (£34 million) to USD 60 million (£43 million) to finance its clinical investigations of the MiniVAD in the US and Europe from 2020 to 2023.
Competitive Landscape
The major global players in the Left Ventricular Assist Device (LVAD) market include CorWave, Apaxis Inc., Sunshine Heart, HeartWare International (Medtronic), Sun Medical Technology Research, Abiomed, Terumo Corporation, Evaheart, Jarvik Heart, and Thoratec (Abbott), among others.
Why Purchase the Report?
• To visualize the global left ventricular assist device (LVAD) market segmentation based on type, pump type, application, end-user, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of left ventricular assist device (LVAD) market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Type mapping available in Excel consisting of key Types of all the major players.
The global left ventricular assist device (LVAD) market report would provide approximately 53 tables, 54 figures, and 195 Pages.
Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies
- 1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
- 2. Definition and Overview
- 3. Executive Summary
- 3.1. Snippet by Type
- 3.2. Snippet by Pump Type
- 3.3. Snippet by End User
- 3.4. Snippet by Region
- 4. Dynamics
- 4.1. Impacting Factors
- 4.1.1. Drivers
- 4.1.1.1. Increasing Product Approvals.
- 4.1.1.2. Growing Incidences of Heart Failure.
- 4.1.2. Restraints
- 4.1.2.1. High Cost.
- 4.1.3. Opportunity
- 4.1.3.1. Increasing Research Activities
- 4.1.4. Impact Analysis
- 5. Industry Analysis
- 5.1. Porter’s 5 Forces Analysis
- 5.2. Supply Chain Analysis
- 5.3. Pricing Analysis
- 5.4. Regulatory Analysis
- 6. COVID-19 Analysis
- 6.1. Analysis of COVID-19
- 6.1.1. Scenario Before COVID-19
- 6.1.2. Scenario During COVID-19
- 6.1.3. Scenario Post COVID-19
- 6.2. Pricing Dynamics Amid COVID-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During the Pandemic
- 6.5. Manufacturers’ Strategic Initiatives
- 6.6. Conclusion
- 7. By Type
- 7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 7.1.2. Market Attractiveness Index, By Type
- 7.2. Transcutaneous LVAD *
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 7.3. Implantable LVAD
- 7.4. Others
- 8. By Pump Type
- 8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Pump Type
- 8.1.2. Market Attractiveness Index, By Pump Type
- 8.2. First-Generation Devices*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3. Second-Generation Devices
- 8.4. Third-Generation Devices
- 8.5. Others
- 9. By Application
- 9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 9.1.2. Market Attractiveness Index, By Application
- 9.2. Bridge-to-Recovery (BTR) Therapy *
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 9.3. Bridge-to-Transplant (BTT) Therapy
- 9.4. Destination Therapy
- 9.5. Bridge-to-Candidacy (BTC) Therapy
- 9.6. Others
- 10. By End User
- 10.1. Introduction
- 10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 10.1.2. Market Attractiveness Index, By End User
- 10.2. Hospitals *
- 10.2.1. Introduction
- 10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 10.3. Cardiology Centers
- 10.4. Other
- 11. By Region
- 11.1. Introduction
- 11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 11.1.2. Market Attractiveness Index, By Region
- 11.2. North America
- 11.2.1. Introduction
- 11.2.2. Key Region-Specific Dynamics
- 11.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Pump Type
- 11.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 11.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.2.7.1. The U.S.
- 11.2.7.2. Canada
- 11.2.7.3. Mexico
- 11.3. Europe
- 11.3.1. Introduction
- 11.3.2. Key Region-Specific Dynamics
- 11.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Pump Type
- 11.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 11.3.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.3.7.1. Germany
- 11.3.7.2. U.K.
- 11.3.7.3. France
- 11.3.7.4. Spain
- 11.3.7.5. Italy
- 11.3.7.6. Rest of Europe
- 11.4. South America
- 11.4.1. Introduction
- 11.4.2. Key Region-Specific Dynamics
- 11.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Pump Type
- 11.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 11.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.4.7.1. Brazil
- 11.4.7.2. Argentina
- 11.4.7.3. Rest of South America
- 11.5. Asia-Pacific
- 11.5.1. Introduction
- 11.5.2. Key Region-Specific Dynamics
- 11.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Pump Type
- 11.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 11.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.5.7.1. China
- 11.5.7.2. India
- 11.5.7.3. Japan
- Australia
- 11.5.7.4. Rest of Asia-Pacific
- 11.6. Middle East and Africa
- 11.6.1. Introduction
- 11.6.2. Key Region-Specific Dynamics
- 11.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Pump Type
- 11.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 12. Competitive Landscape
- 12.1. Competitive Scenario
- 12.2. Market Positioning/Share Analysis
- 12.3. Mergers and Acquisitions Analysis
- 13. Company Profiles
- 13.1. CorWave.*
- 13.1.1. Company Overview
- 13.1.2. Type Portfolio and Description
- 13.1.3. Financial Overview
- 13.1.4. Key Developments
- 13.2. Apaxis Inc.
- 13.3. Sunshine Heart.
- 13.4. HeartWare International (Medtronic)
- 13.5. Sun Medical Technology Research
- 13.6. Abiomed
- 13.7. Terumo Corporation
- 13.8. Evaheart
- 13.9. Jarvik Heart
- 13.10. Thoratec (Abbott)
- LIST NOT EXHAUSTIVE
- 14. Appendix
- 14.1. About Us and Services
- 14.2. Contact Us
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