About the Left Ventricular Assist Device (LVAD) Market
LVADs supplement the pumping of blood by weak hearts. Surgeons implant this mechanical device as a treatment option for severe heart conditions such as acute or chronic deterioration of cardiac functions and heart failure. Surgeons also use the device for BTT, BTR, BTD, and destination therapies.
Technavio’s analysts forecast the global LVAD market to grow at a CAGR of 13.19% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global LVAD market for 2016-2020. To calculate the market size, we consider revenue generated from the sales of LVADs.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Left Ventricular Assist Device (LVAD) Market 2016-2020
Technavio recognizes the following companies as the key players in the global left ventricular assist device (LVAD) market: Abiomed, Berlin Heart, HeartWare International, Jarvik Heart, and St. Jude Medical.
Other Prominent Vendors in the market are: Cardiac Assist, Evaheart, ReliantHeart, Sun Medical Technology Research, and Sunshine Heart.
Commenting on the report, an analyst from Technavio’s team said: “A trend that is sure to boost market growth is the increase in M&A. Vendors undergo M&A to extend their product offerings, increase their market share, and expand their operations. They acquire other companies to enhance their R&D capabilities for manufacturing innovative devices that can meet consumer needs. Acquisition of other companies allows vendors access to the product portfolio of the acquired company. M&A also helps new players enter the market. In 2013, Thoratec acquired the rights to Terumo Heart’s DuraHeart II ventricular assist system. In 2014, Thoratec acquired Apica Cardiovascular to expand its LVAD product portfolio. In October 2015, St. Jude Medical acquired Thoratec for about $3.3 billion. In September 2015, HeartWare International entered into a definitive agreement to acquire Valtech Cardio.”
According to the report, a key growth driver is the shortage of heart donors. CVDs can sometimes lead to severe heart failure. In such cases, it becomes mandatory for people to undergo heart transplantation. However, it is difficult to obtain heart transplants due to the shortage of heart donors. The number of people worldwide that require heart transplantations is rising with each passing year, but there has not been a corresponding rise in heart donors, which is leading to an increase in the average waiting time for heart transplantation. The average waiting time for heart transplantation in the US is 9-11 months. However, in most cases, it goes up to two years. In 2013, the Health Resources and Services Administration estimated that about 18 people die every day in the US due to a shortage of donor hearts.
Further, the report states that one challenge that could impact market growth is the availability of alternative treatments. The presence of alternative treatment options, such as heart transplantation, drug therapy, and TAHs to address acute heart failure and improve cardiac output, hinder the sales of LVADs.
Abiomed, Berlin Heart, HeartWare International, Jarvik Heart, St. Jude Medical, Cardiac Assist, Evaheart, ReliantHeart, Sun Medical Technology Research, Sunshine Heart.
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