Ventricular Support Systems Market: Introduction

  • Ventricular support system is a mechanical device that circulates the blood from heart to the rest of the body. This is useful for patients with cardiac failure or a weak heart.
  • Heart failure is a global pandemic affecting approximately 26 million people worldwide and the prevalence is increasing. This is driving the ventricular assist devices (VADs) market.
  • The device can be implanted in the left, right or both ventricles of the heart; however, often it is placed in the left ventricle known as the Left Ventricular Assist Device (LVAD)
  • LVADs are implanted into the body through the open-heart surgery where its function is to receive blood from left ventricle and pumps it to the aorta, which is then circulated to all parts of body. The device works, along with the patient’s heart and this treatment option is for end-stage heart failure patients. From the past two decades, several hospitals and international research centers are using VADs for treating heart patients.

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Key Drivers & Restraints for Global Ventricular Support Systems Market

  • Researchers have developed VADs. The function of VADs is to ease the workload of heart in patients with heart failure.
  • Heart failure is common worldwide. Moreover, western lifestyle in developing countries is contributing towards incidences of heart failure. The occurrence of cardiovascular problems is expected to increase due to rapidly aging population and advancements in treatment procedures. This will further result in increased hospitalization rates as well as health care costs.
  • According to a journal published by the National Center for Biotechnology Information (NCBI) in 2017, presently, 5.7 million people in the U.S. have heart conditions. It is expected that by 2030, more than 8 million people will be suffering from this condition, a 46% increase in prevalence.
  • Requirement of high initial investment for design, set up, infrastructure then implementation of the process also the maintenance cost is high. These factors limits the entry of new player in market.
  • Despite of growing prevalence of heart failure, there are few limitations, which is hindering the growth of the global ventricular support systems market, such as the high cost of the device. Moreover, risks associated with the procedure restrains the growth of the market.

North America to Hold Major Share of Global Ventricular Support Systems Market

  • North America is a leading contributor to the global market. Rise in elderly population, increase in cases of heart failure, favorable reimbursement policies, and eminent infrastructure are major factors propelling the growth of the ventricular support systems market in North America.
  • The global ventricular support systems market is majorly led by the U.S., followed by Europe. In a study performed in Spain, there is a growing prevalence of heart diseases. For instance, in 2,000, 895 out of 100,000 were suffering from heart condition, which increased to 2,126 cases in 2007. The prevalence rate of major countries of Europe is around 2%, which comprises of Germany (1.8%) and Sweden (2.2%).
  • Heart failure is prevalent in Asia, ranging between 1.3% and 6.7%. In China, Japan, and India, there are approximately 4.2 million, 1 million, and 3 million people suffering from heart failure, respectively. In Southeast Asian countries, over 9 million people have heart conditions. The prevalence is 6.7% in Malaysia and 4.5% in Singapore, which is on the higher side. Thus, countries of Asia Pacific and Latin America offer high potential for market growth. However, due to limitations of cost, new companies are struggling to be a part of the market.

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Key Players Operating in Global Market

  • Medtronic plc
  • Abbott Laboratories
  • ReliantHeart Inc.
  • Berlin Heart GmbH
  • Jarvik Heart, Inc.
  • ABIOMED, Inc.
  • Calon Cardio-Technology Ltd.
  • LivaNova PLC (Acquired Tandem Heart which manufactures VADs)
  • Evaheart Medical USA, Inc. (Asahi Kasei Corp.)
  • Fresenius Medical Care AG & Co. KGaA (XENIOS AG)
  • Maquet GmbH (Getinge AB)
  • Informa plc

Ventricular Support Systems Market: Research Scope

Ventricular Support Systems Market, by Placement Site

  • Left Ventricular Assist Device (LVAD)
  • Right Ventricular Assist Device (RVAD)
  • Biventricular Assist Device (BIVAD)

Ventricular Support Systems Market, by Application

  • Bridge-to-transplant (BTT) Therapy
  • Destination Therapy
  • Bridge-to-recovery (BTR) Therapy
  • Bridge-to-candidacy (BTC) Therapy

Ventricular Support Systems Market, by Design

  • Transcutaneous Ventricular Assist Devices
  • Implantable Ventricular Assist Devices

Ventricular Support Systems Market, by Region

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