Global Circulatory Support Devices Market 2017-2021
About Circulatory Support Devices
Circulatory support devices are used for the treatment of patients with congestive heart failure. These devices are commonly used for the treatment of severe heart failure, and the supporting devices act as a bridge to heart transplant. The three popular circulatory support devices are ventricular assisted devices (VADs), total artificial heart (TAH), and extracorporeal membrane oxygenation (ECMO) machine. Left ventricle assisted devices (LVADs) are the most common circulatory support devices. They are used for giving support to the right ventricles and help the patients to restore the circulation to the tissues and thereby improving the organ function.
Technavio’s analysts forecast the global circulatory support devices market to grow at a CAGR of 11.10% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global circulatory support devices market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Circulatory Support Devices Market 2017-2021
Technavio recognizes the following companies as the key players in the global circulatory support devices market: Medtronic, St. Jude Medical, ABIOMED, ReliantHeart, and Berlin Heart.
Other Prominent Vendors in the market are: CardiacAssist, CorWave, Evaheart, Jarvik Heart, Leviticus Cardio, Sunshine Heart, and Ventracor.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is high growth potential of TAH as destination therapy. The transition from VAD to TAH started at a significant rate over the past few years, especially after SynCardia Systems temporary total artificial heart (TAH-t) got approval from the FDA, Health Canada, and European Union (EU). Although the implantation of TAH was limited in the last two decades, it significantly gained popularity recently among the critically ill patients and healthcare professionals.”
According to the report, one driver in the market is rapid increase in congestive heart failure. In the recent years, congestive heart failure is one of the serious heart disorders, which increased the morbidity and mortality rate significantly among the affected individuals. Although there are multiple ways to support a heart failure patient, the circulatory support devices will act as best devices to support the life of the advanced heart failure patient. The congestive heart failure is a common condition across the globe due to the higher adoption of a sedentary lifestyle in high-income countries.
Further, the report states that one challenge in the market is availability of potential alternatives. Although the circulatory devices play a key role in giving life support to the congestive heart failure patients, they are only meant for the temporary support and act a bridge to therapy. Among all the existing circulatory support devices, the usage of LVADs is quite popular among the affected individuals. Similarly, the demand for TAH is about to boost in the coming years. The more demand for LVADs is due to their efficacy and high survival rate among the implanted individuals.
Medtronic, St. Jude Medical, ABIOMED, ReliantHeart, Berlin Heart, CardiacAssist, CorWave, Evaheart, Jarvik Heart, Leviticus Cardio, Sunshine Heart, and Ventracor.