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Published Date: 2016-11-04Number of Pages: 100

Ventricular Assist Device Market: (Product Type - Left Ventricular Assist Device (LVAD), Right Ventricular Assist Device (RVAD), Bi-Ventricular Assist Device (Bi-VAD), and Total Artificial Heart (TAH); Indication - Bridge To Transplant (BTT), Destination Therapy (DT), and Bridge To Recovery (BTR)) - North America Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

North America Ventricular Assist Device Market: Snapshot

Of late, the market for ventricular assist devices (VADs) is witnessing an exceptional rise in North America on account of the increasing incidence of cardiac arrest and heart failure in various economies in this region, specifically in the U.S. and Canada. The escalating pool of heart patients, boosted by the growing base of the geriatric and the obese population, is having the most prominent impact on the augmenting demand for VADs in this region and is likely to continue to influence this market in the coming years.

As per Transparency Market Research (TMR), the North America market for ventricular assist devices offered an opportunity worth US$0.49 bn in 2015. Expanding at an impressive CAGR of 9.20% during the period from 2016 to 2024, the market is projected to reach US$1.07 bn by 2024.

north america ventricular assist device market

LVADs to Continue Witnessing Strong Demand

Right ventricular assist devices (RVADs), left ventricular assist devices (LAVDs), bi-ventricular assist devices (Bi-VADs), and total artificial hearts (TAHs) are the main products available in the North America VAD market.

LVADs have been witnessing a higher demand than other devices used for ventricular assistance across the world. This scenario is likely to remain the same in the near future with the opportunity for LVADs in North America rising at a CAGR of 9.60% between 2016 and 2024. TAHs are also expected to experience a significant surge in their demand over the forthcoming years due to their augmenting popularity as one of the most efficient devices used in destination therapy and bridge to transplant.

Increase in Clinical Trials and Awareness Initiatives to Ensure Dominance of the U.S.

The prime domestic markets for ventricular assist devices in North America are U.S. and Canada. With a contribution of US$446 mn, the U.S. surfaced as the key contributor to the overall market in 2015. Researchers predict this domestic market to continue to lead throughout the forecast period, thanks to the significant increase in clinical studies, awareness initiatives, and patient assistance.

On the other hand, Canada, which accounts for a smaller share of the overall market, is poised to witness a sturdy rise and create substantial opportunities for the market’s growth in this region over the next few years. The increasing prevalence of cardiovascular disorders among people and the presence of a favorable reimbursement scenario are likely to fuel the usage of VADs for the treatment of cardiac arrest, heart failure, and other cardiovascular disorders in the years to come, leading to substantial growth of VAD market in Canada. In addition, the low level of competition between players is anticipated to boost the interest of multinational participants in the Canada VAD market in the near future.

The North America VAD market demonstrates a highly competitive landscape due to the intense rivalry between the leading players, namely, Berlin Heart GmbH, SynCardia Systems LLC, Sunshine Heart Inc., St. Jude Medical, Heart Ware International Inc., and Abiomed. Hitherto, they relied upon product innovation for business development; however, their focus is likely to shift towards strategic alliances with new entrants to minimize the competition within the market.

Chapter 1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights

Chapter 2. Assumptions and Research Methodology

Chapter 3. Executive Summary: North America Ventricular Assist Device Market

Chapter 4. Market Overview
4.1. Introduction 
4.2. Key Industry Developments
4.3. Market Dynamics
       4.3.1. Drivers
       4.3.2. Restraints
       4.3.3. Opportunity
4.4. Porter’s Five Forces Analysis

Chapter 5. North America Ventricular Assist Device Market Analysis and Forecast, By Product Type
5.1. Key Findings
5.2. Introduction
5.3. Market Size (US$ Mn) Forecast, by Product Type
       5.3.1. Left Ventricular Assist Device (LVAD)
       5.3.2. Right Ventricular Assist Device (RVAD)
       5.3.3. Biventricular Assist Device (Bi-VAD)
       5.3.4. Total Artificial Heart (TAH)
5.4. Market Attractiveness Analysis, by Product Type, 2015
5.5. Key Trends

Chapter 6. North America Ventricular Assist Device Market Analysis and Forecast, By Indication
6.1. Key Findings
6.2. Introduction
6.3. Market Size (US$ Mn) Forecast, by Indication
       6.3.1. Bridge to Transplant (BTT)        
       6.3.2. Destination therapy (DT) 
       6.3.3. Bridge to Recovery (BTR)
6.4. Market Attractiveness Analysis, by Indication, 2014
6.5. Key Trends

Chapter 7. North America Ventricular Assist Device Market Analysis and Forecast, By Region
7.1. Market Scenario
7.2. Introduction
7.3. Market Size (US$ Mn) Forecast, by Region
       7.3.1. U.S.
       7.3.2. Canada
7.4. Market Attractiveness Analysis, by Region, 2015

Chapter 8. U.S. Ventricular Assist Device Market Analysis and Forecast 
8.1. Key Findings
8.2. Introduction
8.3. Market Size (US$ Mn) Forecast, by Product Type
       8.3.1. LVAD
       8.3.2. RVAD
       8.3.3. Bi-VAD
       8.3.4. TAH
8.4. Market Size (US$ Mn) Forecast, by Indication
       8.4.1. BTT
       8.4.2. DT
       8.4.3. BTR
8.5. Market Attractiveness Analysis, by Product Type, 2015
8.6. Market Attractiveness Analysis, by Indication, 2015
8.7. Key Trends

Chapter 9. Canada Ventricular Assist Device Market Analysis and Forecast 
9.1. Key Findings
9.2. Introduction
9.3. Market Size (US$ Mn) Forecast, by Product Type
       9.3.1. LVAD
       9.3.2. RVAD       
       9.3.3. Bi-VAD
       9.3.4. TAH
9.4. Market Size (US$ Mn) Forecast, by Indication
       9.4.1. BTT
       9.4.2. DT
       9.4.3. BTR
9.5. Market Attractiveness Analysis, by Product Type, 2015
9.6. Market Attractiveness Analysis, by Indication, 2015
9.7. Key Trends

Chapter 10. Competition Landscape
10.1. North America Ventricular Assist Device Market Share Analysis, Key Players, 2015
10.2. Competition Matrix
10.3. Company Profiles
       10.3.1. ABIOMED
                 10.3.1.1. Company Overview (HQ, Business Segments, Employee Strength)
                 10.3.1.2. Financial Overview
                 10.3.1.3. Product Portfolio
                 10.3.1.4. SWOT Analysis
                 10.3.1.5. Strategic Overview
       10.3.2. Heart Ware International Inc.
                 10.3.2.1. Company Overview (HQ, Business Segments, Employee Strength)
                 10.3.2.2. Financial Overview
                 10.3.2.3. Product Portfolio
                 10.3.2.4. SWOT Analysis
                 10.3.2.5. Strategic Overview
       10.3.3. St. Jude Medical
                 10.3.3.1. Company Overview (HQ, Business Segments, Employee Strength)
                 10.3.3.2. Financial Overview
                 10.3.3.3. Product Portfolio
                 10.3.3.4. SWOT Analysis
       10.3.4. SUNSHINE HEART, Inc. 
                 10.3.4.1. Company Overview (HQ, business segments, employee strength)
                 10.3.4.2. Financial Overview
                 10.3.4.3. Product Portfolio
                 10.3.4.4. SWOT Analysis
                 10.3.4.5. Strategic Overview
       10.3.5. SynCardia Systems, LLC.
                 10.3.5.1. Company Overview (HQ, business segments, employee strength)
                 10.3.5.2. Product Portfolio
                 10.3.5.3. SWOT Analysis
                 10.3.5.4. Recent Developments
                 10.3.5.5. Strategic Overview
       10.3.6. Berlin Heart GmbH
                 10.3.6.1. Company Overview (HQ, business segments, employee strength)
                 10.3.6.2. Financial Overview
                 10.3.6.3. Product Portfolio
                 10.3.6.4. SWOT Analysis
                 10.3.6.5. Strategic Overview

List of Figures

Figure 1: North America Ventricular Assist Device Market Size (US$ Mn), 2014–2024
Figure 2: North America Ventricular Assist Device Market Value Share Analysis, by Product Type, 2014 and 2024
Figure 3: North America LVAD Market Revenue (US$ Mn), 2014–2024
Figure 4: North America RVAD Market Revenue (US$ Mn), 2014–2024
Figure 5: North America Bi-VAD Market Revenue (US$ Mn), 2014–2024
Figure 6: North America TAH Market Revenue (US$ Mn), 2014–2024
Figure 7: North America Ventricular Assist Device Attractiveness Analysis, by Product Type, 2015
Figure 8: North America Ventricular Assist Device Value Share Analysis, by Indication, 2014 and 2024
Figure 9: North America BTT Market Revenue (US$ Mn), 2014–2024
Figure 10: North America DT Market Revenue (US$ Mn), 2014–2024
Figure 11: North America BTR Market Revenue (US$ Mn), 2014–2024
Figure 12: North America Ventricular Assist Device Attractiveness Analysis, by Indication, 2015
Figure 13:  North America Ventricular Assist Device Value Share Analysis, by Region, 2014 and 2024
Figure 14: North America Ventricular Assist Device Attractiveness Analysis, by Region, 2015
Figure 15: U.S. Ventricular Assist Device Market Size (US$ Mn), 2014–2024
Figure 16: U.S. Ventricular Assist Device Market Y-o-Y Growth Projections, 2015–2024
Figure 17: U.S. Market Value Share Analysis, by Product Type, 2014 and 2024
Figure 18: U.S. Market Value Share Analysis, by Indication, 2014 and 2024
Figure 19: U.S. Ventricular Assist Device Market Analysis and Forecast, US$ Mn, by Product Type, 2014– 2024
Figure 20: U.S. Ventricular Assist Device Market Analysis and Forecast, US$ Mn, by Indication, 2014–2024
Figure 21: U.S. Ventricular Assist Device Market Attractiveness Analysis, by Product Type, 2015
Figure 22: U.S. Ventricular Assist Device Market Attractiveness Analysis, by Indication, 2015
Figure 23: Canada Ventricular Assist Device Market Size (US$ Mn), 2014–2024
Figure 24: Canada Ventricular Assist Device Market Y-o-Y Growth Projections, 2015–2024
Figure 25: Canada Market Value Share Analysis, by Product Type, 2014 and 2024
Figure 26: Canada Market Value Share Analysis, by Indication, 2014 and 2024
Figure 27: Canada Ventricular Assist Device Market Analysis and Forecast, US$ Mn, by Product Type, 2014–2024
Figure 28: Canada Ventricular Assist Device Market Analysis and Forecast, US$ Mn, by Indication, 2014–2024
Figure 29: Canada Ventricular Assist Device Market Attractiveness Analysis, by Product Type, 2015
Figure 30: Canada Ventricular Assist Device Market Attractiveness Analysis, by Indication, 2015
Figure 31: North America Ventricular Assist Device Market Share Analysis, by Company (2015)

List of Tables

Table 1: North America Ventricular Assist Device Market Size Analysis and Forecast (US$ Mn), by Product Type, 2014–2024
Table 2: North America Ventricular Assist Device Market Size Analysis and Forecast (US$ Mn), by Indication, 2014–2024
Table 3: North America Ventricular Assist Device Market Size Analysis and Forecast (US$ Mn), by Region, 2014–2024
Table 4: U.S. Ventricular Assist Device Market Size Analysis and Forecast (US$ Mn), by Product Type, 2014–2024
Table 5: U.S. Ventricular Assist Device Market Size Analysis and Forecast (US$ Mn), by Indication Type, 2014–2024
Table 6: Canada Ventricular Assist Device Market Size Analysis and Forecast (US$ Mn), by Product Type, 2014–2024
Table 7: Canada Ventricular Assist Device Market Size Analysis and Forecast (US$ Mn), by Indication, 2014–2024

North America Ventricular Assist Device Market: Overview

 

Advance Heart Failure is characterized as weakening of the heart caused due to failure of the left ventricle, due to which the heart is unable to pump blood to different parts of the body. According to the AHA (American Heart Association), 5.7 Mn people in the U.S suffer from heart failure and 300,000 die each year of heart failure. Moreover, the AHA predicts that advance heart failure will become the most common cause of death globally. However, these statistics have already materialized in the U.S. and Canada, where advance heart failure is currently said to be the leading cause of mortality. In Canada, the figures are rising day by day. In Canada nearly 600,000 of the total is affected by heart failure. A large proportion of these population can be saved with proper treatment and care. Thus, the existence of an unmet medical need is clearly evident and is anticipated to augment the ventricular assist device market.

 

North America Ventricular Assist Device Market: Scope of the Study

 

This report on the ventricular assist device market in the North America analyzes the current and future prospects of the market. The report comprises an elaborate executive summary, including a market snapshot that provides overall information of various segments and sub-segments. The research is a combination of primary and secondary research. Detailed qualitative analysis of factors responsible for driving and restraining market growth and opportunities has been provided in the market overview section. Market revenue in terms of US$ Mn for the period between 2014 and 2024 along with the compound annual growth rate (CAGR %) from 2014 to 2024 are provided for all the segments, considering 2015 as the base year. Market related factors such as technological developments, patent expiry, recent approvals, investment in clinical studies and acquisitions by leading players in the market, and historical year-on-year growth have been taken into consideration while estimating the market size. Growth rates for each segment within the North America ventricular assist device market have been determined after a thorough analysis of past trends, demographics, future trends, technological developments, drug development life cycle, and regulatory requirements. These factors would help the market players to take strategic decisions in order to strengthen their positions and expand their share in the ventricular assist device market in North America.

North America Ventricular Assist Device Market: Segmentation

Based on product type, the North America ventricular assist device market has been segmented into Left Ventricular Assist Device (LVAD), Right Ventricular Assist Device (RVAD), Biventricular Assist Device (Bi-VAD) and total artificial heart (TAH).

Based on indication, the North America ventricular assist device market has been segmented into bridge to transplant (BTT), destination therapy (DT) and bridge to recovery (BTR). The American Heart Association reported that 2.6% of the total population is suffering from cardiovascular disease and heart failure is the leading cause of death in the U.S. and around 1.6% in Canada suffer from heart failure, and the number is rising each year. Therefore consequently driving the ventricular assist device market in North America during the forecast period.

North America Ventricular Assist Device Market: Geographical Outlook

Geographically, the North America ventricular assist device market has been segmented into two countries: the U.S. and Canada. These countries have been further segmented by indication and product type. The competition matrix section included in the report is likely to assist the existing players to increase their market shares and new companies to establish their presence in the ventricular assist device market in North America.

Companies Mentioned in the Report

The report also profiles major players in the market based on various attributes such as company overview, financial overview, SWOT analysis, key business strategies, product portfolio, and recent developments. Key companies profiled in the report include ABIOMED, St. Jude Medical, HeartWare, SynCardia Systems LLC, Sunshine Heart, Inc., Berlin Heart GmbH

The North America ventricular assist device market has been segmented as follows:

North America Ventricular Assist Device Market, by Product Type

  • LVAD (Left ventricular assist device)
  • RVAD (Right ventricular assist device)
  • Bi-VAD (Biventricular assist device)
  • TAH( Total artificial heart)

North America Ventricular Assist Device Market, by Indication

  • BTT (Bridge To Transplant)
  • DT (Destination Therapy)
  • BTR (Bridge To Recovery)


 
 
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