Ventricular Assist Devices and Total Artificial Heart Market - GLOBAL

Ventricular Assist Devices and Total Artificial Heart Market - GLOBAL

Global Ventricular Assist Devices and Total Artificial Heart Market: Focus on Products, Distribution Channels, Regional, Data - Analysis and Forecast, 2019-2023

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Key Questions Answered in the Report:

• What are the key features of ventricular assist devices and artificial heart systems which makes them suitable for the end-stage heart failure patients?
• What is the industry structure of the global ventricular assist devices and artificial heart systems market?
• How many patents are currently active in the global ventricular assist devices and artificial heart systems market?
• How does the value chain function in the global ventricular assist devices and artificial heart systems market?
• What are the key development strategies which are implemented by the key players to stand out in the market?
• How did the ventricular assist devices and artificial heart systems market evolve and what is its scope in the future?
• What are the major market drivers, challenges, and opportunities in the global ventricular assist devices and artificial heart systems?
• What are the leading companies dominating the global ventricular assist devices and artificial heart systems market?
• What are investors’ perceptions about the global ventricular assist devices and artificial heart systems market? Also, what is the reimbursement scenario of the market?
• What are the regulations pertaining to the global ventricular assist devices and artificial heart systems market? What are the initiatives implemented by different government bodies to overcome the shortage of organ donors?
• What was the market value of the leading segments and sub-segments of the global ventricular assist devices and artificial heart systems market?
• How is each segment of the global ventricular assist devices and artificial heart systems market expected to grow during the forecast period and what is the revenue expected to be generated by each of the segments by the end of 2023?
Global Ventricular Assist Devices and Artificial Heart Systems Market Forecast, 2019-2023
The global ventricular assist devices and artificial heart systems market was estimated at $2.20 billion in 2018 and is anticipated to reach $2.70 billion by 2023. In 2018, ventricular assist devices contributed about 90% of market share.
Heart attack and stroke have resulted in the increasing mortality rate worldwide as per the World Health Organization (WHO). In 2016, it was estimated that about 17.9 million people died due to CVDs, which represented about 31% of the global mortality rate. Heart attack and stroke have contributed to the growing number of individuals suffering from CVDs. According to the WHO, stroke or cerebrovascular accident are the second leading cause of death worldwide.
The prevalence of heart failure has been estimated to increase during the recent years, due to the changing lifestyle, high levels of alcohol and tobacco consumption, and unhealthy diet plan. The ventricular assist devices and artificial heart systems are two key products used for mechanical circulatory support in end-stage heart failure patients. The market demand for these devices has emerged due to lack of organ donors and high incidence of heart failure cases worldwide.
Expert Quote on the Global Ventricular Assist Devices and Artificial Heart Systems Market
“North America is currently the leading contributor in the global ventricular assist devices and artificial heart systems market. The North America ventricular assist devices and artificial heart systems market was valued at $1.42 billion in 2018. Factors such as increasing incidence of heart failure cases, rise in aging population, pediatric heart failure cases, changing reimbursement policies, and established healthcare infrastructure are driving the growth of the ventricular assist devices and artificial heart systems market in North America.”
Scope of the Market Intelligence on Global Ventricular Assist Devices and Artificial Heart Systems Market
The purpose of the study is to gain a holistic view of the global ventricular assist devices and artificial heart systems market in terms of various factors influencing it such as recent trends and technological advancements of the market. The scope of this report is centered upon conducting a detailed study of the mechanical circulatory assist devices which have the potential to help the end-stage heart failure patients.
The global ventricular assist devices and artificial heart systems market is segmented into three types: product type, distribution channel, and region. The global market value was estimated using these three different approaches, which were validated with one another. The report offers the reader with an opportunity to unlock comprehensive insights with respect to the market and helps in forming well-informed strategic decisions.
Market Segmentation
The ventricular assist devices market is further sub-segmented into left-, right-, and bi-ventricular assist devices. The left-ventricular assist device segment contributed maximum to the product revenue contributing 60% of share in 2018. The product launches in pipeline are expected to increase the CAGR of the market in the coming future.
Based on distribution channel, hospitals occupied higher market share contributing more than 90% to the market revenue as of 2018. In 2018, cardiology clinics showed a significant growth in the market with a CAGR of 4.19%, with the rising number of patient reference to these clinics by the VAD centers.
The global ventricular assist devices and artificial heart systems market is segmented by the geographical regions into North America, Europe, Asia-Pacific, and Rest-of-the-World (RoW). The RoW region comprises Latin America, Middle East, and Africa. North America is the leading contributor to the global ventricular assist devices and artificial heart systems market with a contribution of about 64.5% of the total market share in 2018. The North America market is also expected to grow at a CAGR of 3.26% in the forecast period 2019-2023. The global ventricular assist devices and artificial heart systems market is majorly dominated by the U.S. and the European players. However, several emerging countries of Asia-Pacific and Latin America displayed high potential to witness robust growth rate during the period. The emerging countries have low access to the ventricular assist devices and artificial heart systems due to cost constraints in the market.
Key Companies Operating in the Global Ventricular Assist Devices and Artificial Heart Systems Market
The key players who have significant contributions to the global ventricular assist devices and artificial heart systems market are Abbott Laboratories, Medtronic PLC, LivaNova PLC, Abiomed, SynCardia Systems, LLC, Jarvik Heart Inc., Berlin Heart, BiVACOR, among others.
Executive Summary
1 Product Definition
1.1 Ventricular Assist Devices
1.2 Total Artificial Heart

2 Scope of the Report
3 Research Methodology
3.1 Research Methodology
4 Industry Analysis
4.1 Industry Structure
4.2 Value Chain Analysis
4.3 Regulatory Framework
4.3.1 Regulatory Framework in America
4.3.2 Regulatory Framework in Europe
4.3.1 Regulatory Framework in Asia-Pacific
4.4 Patent Analysis
5 Competitive Landscape
5.1 Vendor Share Analysis
5.2 Key Developments and Strategies
5.2.1 Funding
5.2.2 Product Approvals
5.2.3 Mergers and Acquisitions
5.2.4 Agreements, Partnerships, and Collaborations
5.2.5 Other Strategies
6 Market Dynamics
6.1 Market Drivers
6.1.1 Growing Geriatric Population
6.1.2 Rising Incidence of Lifestyle Diseases
6.1.3 Increasing Need of Organ Transplantation and Deadly Shortage of Available Donors
6.1.4 Persistent Support from Government and Non-Governmental Organizations
6.1.5 Technological Advancements and Increased R&D Expenditure
6.2 Challenges
6.2.1 Risks of Device Malfunction and Other Related Concerns
6.2.2 Immune Barrier to Artificial Organ
6.2.3 Stringent Regulation and Poor Reimbursement Coverage
6.2.4 Exorbitant Cost of Product
6.3 Opportunities
6.3.1 Application of Advanced Biomaterials in Artificial Organs
6.3.2 Organ-on-chips Technology
7 Global Ventricular Assist Devices and Total Artificial Heart Market (Product)
7.1 Overview
7.2 Assumptions and Limitations
7.3 Ventricular Assist Devices
7.3.1 Components of a VAD
7.3.2 Types of VAD
7.3.3 Timeline
7.3.4 Left Ventricular Assist Device
7.3.5 Right Ventricular Assist Device
7.3.6 Bi-Ventricular Assist Device
7.4 Total Artificial Heart
7.4.1 Timeline
8 Global Ventricular Assist Devices and Total Artificial Heart Market (Distribution Channels)
8.1 Overview
8.2 Hospitals
8.3 Cardiology Clinics
9 Global Ventricular Assist Devices and Total Artificial Heart Market (by Region)
9.1 Overview
9.1.1 Analysis of Growth Potential of Different Countries
9.2 North America
9.2.1 The U.S.
9.2.2 Canada
9.3 Europe
9.3.1 Germany
9.3.2 The U.K.
9.3.3 France
9.3.4 Italy
9.3.5 Sweden
9.4 Asia-Pacific
9.4.1 Japan
9.4.2 China
9.4.3 Australia
9.4.4 India
9.5 Rest-of-the-World
9.5.1 Latin America
9.5.2 Middle East and Africa
10 Company Profiles
10.1 Overview
10.2 Abbott Laboratories
10.2.1 Overview
10.2.2 Role of Abbott Laboratories in the Global Ventricular Assist Devices and Total Artificial Heart Market
10.2.3 Financials
10.2.4 Key Developments
10.2.5 SWOT Analysis
10.3 ABIOMED
10.3.1 Overview
10.3.2 Role of ABIOMED in the Global Ventricular Assist Devices and Total Artificial Heart Market
10.3.3 Financials
10.3.4 Key Developments
10.3.5 SWOT Analysis
10.4 Berlin Heart
10.4.1 Overview
10.4.2 Role of Berlin Heart in the Global Ventricular Assist Devices and Total Artificial Heart Market
10.4.3 Key Developments
10.4.4 SWOT Analysis
10.5 BiVACOR
10.5.1 Overview
10.5.2 Role of BiVACOR in the Global Ventricular Assist Devices and Total Artificial Heart Market
10.5.3 Key Development
10.5.4 SWOT Analysis
10.6 CARMAT
10.6.1 Overview
10.6.2 Role of CARMAT in the Global Ventricular Assist Devices and Total Artificial Heart Market
10.6.3 Key Developments
10.6.4 SWOT Analysis
10.7 Jarvik Heart Inc.
10.7.1 Overview
10.7.2 Role of Jarvik Heart Inc. in the Global Ventricular Assist Devices and Total Artificial Heart Market
10.7.3 SWOT Analysis
10.8 Sun Medical Technology Research Institute, Inc.
10.8.1 Overview
10.8.2 Role of Sun Medical Technology Research Institute in the Global Ventricular Assist Devices and Total Artificial Heart Market
10.8.3 Key Developments
10.8.4 SWOT Analysis
10.9 LivaNova PLC
10.9.1 Overview
10.9.2 Role of LivaNova PLC in the Global Ventricular Assist Devices and Total Artificial Heart Market
10.9.3 Key Developments
10.9.4 Financials
10.9.4.1 Key Insights About Financial Health of the Company
10.9.5 SWOT Analysis
10.10 Medtronic PLC
10.10.1 Overview
10.10.2 Role of Medtronic PLC in the Global Ventricular Assist Devices and Total Artificial Heart Market
10.10.3 Financials
10.10.3.1 Key Insights about Financial Health of the Company
10.10.4 SWOT Analysis
10.11 SynCardia Systems, LLC
10.11.1 Overview
10.11.2 Role of Syncardia Systems, LLC in the Ventricular Assist Devices and Total Artificial Heart Market
10.11.3 Key Developments
10.11.4 SWOT Analysis
List of Tables
Table 4.1: Regulatory Authorities/Associations/Consortiums for Medical Devices in America
Table 4.2: Regulatory Authorities/Associations/Consortiums for Medical Devices in Europe
Table 4.3: Regulatory Authorities/Associations/Consortiums for Medical Devices in Asia-Pacific
Table 6.1: Percentage of Total Regional Population Aged 65 Years: 2015 & 2030
Table 6.2: Contribution of Risk Factors to Lifestyle Diseases (Percentage of Individual Population Attributable Fraction)
Table 6.3: Disease Burden Due to Common Lifestyle Diseases Across Different Regions (2016)
Table 6.4: Funding Initiatives by Private and Public Companies
Table 6.5: Post-Operational Consequences of SynCardia TAH Implantation
Table 6.6: Post-Operational Consequences of Total Artificial Heart (TAH) Implantation
Table 7.1: Timeline- Ventricular Assist Devices
Table 7.2: Timeline- Total Artificial Heart
List of Figures
Figure 1: Evolution of VAD and Artificial Heart
Figure 2: Market Statistics
Figure 3: Impact of Market Drivers and Market Restraints (2018)
Figure 4: Global VAD and TAH Market Size, By Product, 2018
Figure 5: Share of Key Strategies and Development, January 2014-March 2019
Figure 6: Market Share Analysis for the Global Ventricular Assist Devices and Total Artificial Heart Market, 2018
Figure 2.1: Global Ventricular Assist Devices and Total Artificial Heart: Market Segmentation
Figure 3.1: Ventricular Assist Devices and Total Artificial Heart Market Research Methodology
Figure 3.2: Primary Research
Figure 3.3: Secondary Research
Figure 3.4: Data Triangulation
Figure 3.5: Bottom-Up Approach (Segment-wise Analysis)
Figure 3.6: Assumptions and Limitations
Figure 3.7: Factors Considered for Data Prediction and Modeling
Figure 4.1: Value Analysis of Ventricular Assist Devices and Total Artificial Heart Market
Figure 4.2: Patent Analysis for the Global Ventricular Assist Devices and Total Artificial Heart Market
Figure 4.3: Patent Timeline in the Global Ventricular Assist Devices and Total Artificial Heart Market
Figure 5.1: Competitive Landscape- Global Ventricular Assist Devices and Total Artificial Heart Market
Figure 5.2: Market Share Analysis for the Global Ventricular Assist Devices and Total Artificial Heart Market, 2018
Figure 5.3: Market Share Analysis for the Global Ventricular Assist Devices Market, 2018
Figure 5.4: Market Share Analysis for the Global Total Artificial Heart Market, 2018
Figure 5.5: Share of Key Developments and Strategies, January 2014-March 2019
Figure 5.6: Funding Activities Share (by Companies), January 2014-February 2019
Figure 5.7: Product Approval Share (by Companies), January 2014-February 2019
Figure 6.1: Projected Global Geriatric Population Aged 60 Years (in billion), 1900-2100
Figure 6.2: Number of Donors Recovered and Patients Waiting at the Year-end VS Number of Transplants Performed (2010-2017)
Figure 7.1: Global VAD and TAH Market, by Product, Market Share 2018
Figure 7.2: Global Left Ventricular Assist Devices Market, 2018-2023
Figure 7.3: Global Right Ventricular Assist Device Market, 2018-2023
Figure 7.4: Global Bi-Ventricular Assist Devices Market, 2018-2023
Figure 7.5: Mechanism of Action of TAH
Figure 7.6: Key Points about AbioCor
Figure 7.7: Global Total Artificial Heart Market, 2018-2023
Figure 7.8: Sales of SynCardia System, LLC’s TAH (by Volume), 2009-2023
Figure 8.1: Global Ventricular Assist Devices and Total Artificial Heart Market, by Distribution Channel, Market Share 2018
Figure 8.2: Hospitals in the Global Ventricular Assist Devices and Total Artificial Heart Market, 2018-2023
Figure 8.3: Cardiology Clinics in the Global Ventricular Assist Devices and Total Artificial Heart Market, 2018-2028
Figure 9.1: Global Ventricular Assist Device and Total Artificial Heart Market by Region, Market Share, 2018
Figure 9.2: North America: Ventricular Assist Devices and Total Artificial Heart Market, 2018-2023
Figure 9.3: North America: Market Dynamics
Figure 9.4: Number of Donors Recovered and Transplants Performed per Year VS Patients Waiting at the Year End
Figure 9.5: Europe: Ventricular Assist Devices and Total Artificial Heart Market, 2018-2023
Figure 9.6: Europe: Market Dynamics
Figure 9.7: Asia-Pacific: Ventricular Assist Devices and Total Artificial Heart Market, 2018-2023
Figure 9.8: Asia-Pacific: Market Dynamics
Figure 9.9: Rest-of-the-World: Ventricular Assist Devices and Total Artificial Heart Market, 2018-2023
Figure 9.10: Rest-of-the-World: Market Dynamics
Figure 9.11: Latin-America: Ventricular Assist Devices and Total Artificial Heart Market, 2018-2023
Figure 9.12: Middle-East and Africa: Ventricular Assist Devices and Total Artificial Heart Market, 2018-2023
Figure 10.1: Total Number of Companies Profiled
Figure 10.2: Abbott Laboratories: Overall Financials, 2016-2018
Figure 10.3: Abbott Laboratories, By Segment, 2016-2018
Figure 10.4: Abbott Laboratories, By Region, 2016-2018
Figure 10.5: Abbott Laboratories: SWOT Analysis
Figure 10.6: ABIOMED: Overall Financials, 2016-2018
Figure 10.7: ABIOMED, By Segment, 2016-2018
Figure 10.8: ABIOMED, R&D Expenditure, 2017-2018
Figure 10.9: ABIOMED: SWOT Analysis
Figure 10.10: Berlin Heart: SWOT Analysis
Figure 10.11: BiVACOR: SWOT Analysis
Figure 10.12: CARMAT: SWOT Analysis
Figure 10.13: Jarvik Heart Inc.: SWOT Analysis
Figure 10.14: Sun Medical Technology Research Institute Inc.: SWOT Analysis
Figure 10.15: LivaNova PLC: Overall Product Portfolio
Figure 10.16: LivaNova PLC: Overall Financials, 2016-2018
Figure 10.17: LivaNova PLC (by Segment), 2016-2018
Figure 10.18: LivaNova PLC: Revenue (by Region), 2016-2018
Figure 10.19: LivaNova PLC: Revenue for Advanced Circulatory Support (by Region), 2016-2018
Figure 10.20: LivaNova PLC: R&D Expenditure, 2016-2018
Figure 10.21: LivaNova PLC: SWOT Analysis
Figure 10.22: Medtronic PLC: Overall Financials, 2016-2018
Figure 10.23: Medtronic PLC: Revenue (by Segment), 2016-2018
Figure 10.24: Medtronic PLC: Revenue (by Region), 2016-2018
Figure 10.25: Medtronic PLC: R&D Expenditure
Figure 10.26: Medtronic PLC: SWOT Analysis
Figure 10.27: SynCardia Systems, LLC Product Portfolio for Ventricular Assist Devices and Total Artificial Heart Market
Figure 10.28: SynCardia Systems, LLC: SWOT Analysis
North America
The U.S.
Canada
Europe
Germany
The U.K.
France
Italy
Sweden
Asia-Pacific
Japan
China
Australia
India
Rest-of-the-World
Latin America
Middle East and Africa
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According to the new market intelligence report by BIS Research, titled “Global Ventricular Assist Devices and Artificial Heart Systems Market-Analysis and Forecast, 2019-2023”, the global ventricular assist devices and artificial heart systems market was estimated at $2.20 billion in 2018 and is estimated to reach $2.70 billion by 2023. The global ventricular assist devices and artificial heart systems market is expected to witness a robust growth rate between 2019 and 2023 aided by the technological advancements and increased product launches.
Cardiovascular diseases are a class of diseases leading to complications associated with blood vessels or the heart functioning. Coronary heart disease, cerebrovascular disease, peripheral arterial disease, rheumatic heart disease, congenital heart disease, and deep vein thrombosis are some of the common CVDs. According to the World Health Organization (WHO), heart attack and stroke have resulted in increasing mortality rate worldwide. End-stage heart failure cases have contributed to the high demand for the mechanical circulatory support devices worldwide. The increasing mortality rate triggered the use of mechanical circulatory support devices such as ventricular assist devices and artificial heart systems in the market. These mechanical circulatory support devices are used to provide support to the end-stage heart failure patients. The market is segmented based on the product type and distribution channel for the implantation of these circulatory support devices. Collaborations, partnerships, agreements, and acquisitions are some of the common strategies adopted by these companies in order to sustain the competition in the global ventricular assist devices and artificial heart systems market. Furthermore, manufacturers such as Medtronic PLC, Abbott Laboratories, ABIOMED, LivaNova PLC, among others are engaged in the development of miniaturized products. Product development and product approvals are expected to help new entrants during the forecast period, propelling the growth of this market. Moreover, technological advancements and increased R&D expenditure are some of the crucial drivers expected to advance the market growth during the forecast period between 2019 and 2028.
According to Nidhi Srivastava, an analyst at BIS Research “North America is currently the leading contributor in the global ventricular assist devices and artificial heart systems market. The North America ventricular assist devices and artificial heart systems market was valued at $1.42 billion in 2018. Factors such as increasing incidence of heart failure cases, rise in aging population, pediatric heart failure cases, changing reimbursement policies, and established healthcare infrastructure are driving the growth of the ventricular assist devices and artificial heart systems market in North America.”
Research Highlights:
• Developed markets such as Germany and the U.S. have higher percentage share in the global ventricular assist devices and artificial heart systems market. The government policies in the developed nations have helped in patient support for the implantation of mechanical circulatory support systems.
• Based on product type, ventricular assist devices possessed the highest market share in the global ventricular assist devices and artificial heart systems market in 2018. However, artificial heart systems is expected to witness the highest growth rate of 6.44% during the forecast period between 2019 and 2023.
• The market has witnessed about 21 key developments and strategies in the global ventricular assist devices and artificial heart systems, as of 2018. In mid-2020, CARMAT is expected to receive its CE mark approval for the fully-implantable and automated artificial heart systems.
• Based on distribution channel, hospitals accounted for the highest market of approximately 90.0% in 2018, whereas cardiology clinics channel is expected to witness much higher growth rate of 4.19% as of 2018.
• Prominent quotations from leading industry sources:
"Medtronic aims to advance the field of mechanical circulatory support and, consequently, the overall management of heart failure patients who can benefit from the therapy,” - Medtronic PLC
"The final outcomes seen in MOMENTUM 3 herald a new era in LVAD therapy for our patients, characterized by longer overall survival while avoiding complications of stroke, bleeding and the need for surgically replacing malfunctioning pumps,"- Abbott Laboratories
This market intelligence report provides a multidimensional view of the global ventricular assist devices and artificial heart systems market in terms of market size and growth potential. This research report aims at answering various aspects of the global ventricular assist devices and artificial heart systems market with the help of the key factors driving the market, threats that can possibly inhibit the overall market growth, and the current growth opportunities that are going to shape the future trajectory of the market expansion.
Furthermore, the competitive landscape chapter in the report explicates the competitive nature of the global market and enables the reader to get acquainted with the recent market activities, such as product approvals, funding, regulatory, partnerships, collaborations, product development as well as mergers and acquisitions. The research report provides a comprehensive analysis of the product sales, and manufacturers and trend analysis by segments and demand analysis by various regions.
This report is a meticulous compilation of research on about 10 major players in the market ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of 10 leading companies, market participants, and vendors. The report also profiles 10 companies including several key players, including Abbott Laboratories, Medtronic PLC, LivaNova PLC, Abiomed, SynCardia Systems, LLC, Jarvik Heart Inc., Berlin Heart, BiVACOR, and CARMAT.
Key questions answered in the report:
• What are the key features of ventricular assist devices and artificial heart systems which makes them suitable for the end-stage heart failure patients?
• What is the industry structure of the global ventricular assist devices and artificial heart systems market?
• How many patents are currently active in the global ventricular assist devices and artificial heart systems market?
• How does the value chain function in the global ventricular assist devices and artificial heart systems market?
• What are the key development strategies which are implemented by the key players to stand put in the market?
• How did the ventricular assist devices and artificial heart systems market evolve and what is its scope in the future?
• What are the major market drivers, challenges, and opportunities in the global ventricular assist devices and artificial heart systems?
• What are the leading companies dominating the global ventricular assist devices and artificial heart systems market?
• What are investors’ perceptions about the global ventricular assist devices and artificial heart systems market? Also, what is the reimbursement scenario of the market?
• What are the key companies which made substantial investments to aid technological advancements in the market?
• What are the regulations pertaining to the global ventricular assist devices and artificial heart systems market? What are the initiatives implemented by different government bodies to overcome the shortage of organ donors?
• What was the market value of the leading segments and sub-segments of the global ventricular assist devices and artificial heart systems market?
• How is each segment of the global ventricular assist devices and artificial heart systems market expected to grow during the forecast period and what is the revenue expected to be generated by each of the segments by the end of 2023?
• How is the industry expected to evolve during the forecast period 2019-2023?
• Which region carries the potential for the significant expansion of key companies for ventricular assist devices and artificial heart systems market?
Abbott Laboratories
ABIOMED
Berlin Heart
BiVACOR
CARMAT
Jarvik Heart Inc.
Sun Medical Technology Research Institute, Inc.
LivaNova PLC
Medtronic PLC
SynCardia Systems, LLC
Global Ventricular Assist Devices and Artificial Heart Systems Market to Reach $2.70 Billion by 2023, Reports BIS Research

Informations supplémentaires

Auteur BIS Research INC.
Edité par BISRESEARCH
Type de document Rapport
Nombre de pages 153