Mechanical Circulatory Support Devices Market: Introduction

  • Mechanical circulatory support includes a range of therapies and devices which aid in rescuing patients from the life-threatening cardiogenic shock. Cardiogenic shock can be defined as the condition of sustained hypotension, low cardiac output, and high central filling pressures.
  • Cardiogenic shock is the major complication of acute myocardial infarction as it leads to high mortality rate, attributed to the ischemic damage to the heart
  • Mechanical circulatory support devices are mainly needed for patients with advanced heart or pulmonary failure. They aid in treatment of a range of diseases, including cardiac sarcoidosis, cardiomyopathy, endocarditis, heart failure, hypertrophic cardiomyopathy, and congenital heart disease.

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Key Drivers and Restraints of Global Mechanical Circulatory Support Devices Market

  • Increase in incidence of heart failure, accounting for over 500,000 new patients annually in the U.S., contributes to the growth of the mechanical circulatory support devices market. In addition, the increasing rate of heart failure has been contributing to the increasing hospitalization, driving the burden of health care expenditure globally.
  • Increase in incidence of cardiovascular diseases, contributes in driving the market for mechanical circulatory support devices. According to the WHO, cardiovascular diseases are the major cause of mortality annually at the global level.
  • Technological advances in ventricular assist devices (VAD), including continuous flow technology, have aided in improving implantability and efficiency; providing extended support; and improving the overall patient experience aid in creating demand for these devices, thereby contributing to the growth of the mechanical circulatory support devices market.  
  • Percutaneous circulatory support devices aid in improving native cardiac output, reducing the ventricular volume and filling pressures, augmenting coronary perfusion, and maintaining vital organ perfusion. Advantages of mechanical circulatory support devices contribute to the growth of the market.
  • However, complications associated with the technologically advanced devices such as continuous-flow mechanical circulatory support devices, including blood trauma from supraphysiologic shear stress causing von Willebrand syndrome, device thrombosis, and gastrointestinal angiodysplasia and bleeding in patients are likely to have a negative impact on the growth of the mechanical circulatory support devices market.

North America to Lead Global Mechanical Circulatory Support Devices Market

  • In terms of region, the global mechanical circulatory support devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • North America dominated the global mechanical circulatory support devices market in 2018, owing to strong presence of leading market players; high prevalence of cardiovascular diseases due to lifestyle disorders; focus on research & development leading to the launch of technologically advanced products; and well-established health care infrastructure
  • Europe was the second largest market for mechanical circulatory support devices in 2018, followed by Asia Pacific. Asia Pacific is projected to be the fastest growing market for mechanical circulatory support devices, followed by Latin America and Middle East & Africa. Growing focus of governments in countries in Asia on enhancing health care facilities, increasing focus of market players on leveraging the growth opportunities offered by the emerging markets, government initiatives, and increased awareness about cardiac safety are the factors driving the mechanical circulatory support devices market in the region.

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Key Manufacturers Operating in Global Mechanical Circulatory Support Devices Market

Leading players in the global mechanical circulatory support devices market are:

  • Medtronic plc
  • Abbott Laboratories
  • Evaheart, Inc.
  • Abiomed, Inc.
  • Procyrion, Inc.
  • NuPulseCV, Inc.
  • Windmill Cardiovascular Systems, Inc.
  • CorWave
  • SynCardia Systems, LLC
  • BiVACOR, Inc.

Global Mechanical Circulatory Support Devices Market: Research Scope

Global Mechanical Circulatory Support Devices Market, by Product

  • Ventricular Assist Devices
    • Left Ventricular Assist Device
    • Right Ventricular Assist Device
    • Biventricular Assist Device
  • Artificial Heart
  • Extracorporeal Membrane Oxygenation
  • Intra-aortic Balloon Pump

Global Mechanical Circulatory Support Devices Market, by End-user

  • Hospitals
  • Ambulatory Surgical Centers
  • Specialty Cardiology Centers

Global Mechanical Circulatory Support Devices Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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