Market Overview

The Global Ventricular Assist Devices Market was valued at USD 1,877.0 million in 2023 and is expected to reach USD 3,627.4 million by 2031 while growing at a CAGR of 8.6% during the forecast period (2024-2031). 

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Market Dynamics

This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global ventricular assist devices market growth. A Ventricular Assist Device (VAD) is a treatment for advanced heart failure, assisting the heart in pumping blood effectively throughout the body. This device helps pump blood from the heart's lower chambers and is continuously improved through research and technological advancements to enhance effectiveness and reliability.

The rising incidence of heart failure, ongoing advancements in medical technology, and growing awareness among healthcare professionals and patients about the benefits of ventricular assist devices are propelling substantial growth in the Ventricular Assist Devices market. Despite these favorable factors, obstacles to market expansion include the high cost of ventricular assist devices and limited donor availability for heart transplants.

Furthermore, the global ventricular assist devices industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.

Segmentation – By Type of Ventricular Device Analysis

The Global Ventricular Assist Devices Market is segmented among Left Ventricular Assist Device (LVAD), Right Ventricular Assist Device (RVAD), and Biventricular Assist Device (BIVAD), based on Type of Ventricular Device. In 2023, Left Ventricular Assist Device (LVAD) accounted for the majority of the market share*. 

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Segmentation – By Application Analysis

The Global Ventricular Assist Devices Market is segmented among Bridge-to-transplant (BTT) Therapy, Destination Therapy, and Other Therapies, based on Application. In 2023, Destination Therapy accounted for the majority of the market share*. 

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Global Ventricular Assist Devices Market: Regional Analysis

Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, North America dominated the market with the highest market share, while Asia Pacific is expected to grow with the highest CAGR during the forecast period (2024 – 2031). 

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Competitive Landscape

Some of the key players operating in the market are Abiomed Inc., BiVACOR Inc., Abbott Laboratories (St. Jude Medical Inc.), Berlin Heart GmbH, Calon Cardio, Jarvik Heart Inc., Medtronic PLC, SynCardia Systems LLC, and Terumo Corporation. 

Table of Contents:

1. Research Methodology and Market Scope

• Research Methodology

• Market Scope

2. Executive Summary

3. Global Ventricular Assist Devices Market Dynamics

• Drivers

• Restraints

• Opportunity

4. Global Ventricular Assist Devices Industry Analysis

• PEST Analysis

• Porter's Five Force Analysis

• Recent Deals Analysis

5. Global Ventricular Assist Devices Market Segmentation, By Type of Ventricular Device

• Global Ventricular Assist Devices Market Share Analysis, By Type of Ventricular Device

• Global Ventricular Assist Devices Market Growth Analysis, By Type of Ventricular Device

• Global Ventricular Assist Devices Market Trends, By Type of Ventricular Device

o Left Ventricular Assist Device (LVAD)

o Right Ventricular Assist Device (RVAD)

o Biventricular Assist Device (BIVAD)

6. Global Ventricular Assist Devices Market Segmentation, By Application

• Global Ventricular Assist Devices Market Share Analysis, By Application

• Global Ventricular Assist Devices Market Growth Analysis, By Application

• Global Ventricular Assist Devices Market Trends, By Application

o Bridge-to-transplant (BTT) Therapy

o Destination Therapy

o Other Therapies

7. Global Ventricular Assist Devices Market Segmentation, By Region

• Global Ventricular Assist Devices Market Share Analysis, By Region

• Global Ventricular Assist Devices Market Growth Analysis, By Region

• Global Ventricular Assist Devices Market Trends, By Region

o North America

o Europe

o Asia Pacific

o Latin America

o Middle East

o Africa

8. Competitive Landscape

• Abiomed Inc.*

o Company Overview

o Financial Performance

o Key Development/Strategies

o SWOT Analysis

• BiVACOR Inc.

• Abbott Laboratories (St. Jude Medical Inc.)

• Berlin Heart GmbH

• Calon Cardio

• Jarvik Heart Inc.

• Medtronic PLC

• SynCardia Systems LLC

• Terumo Corporation 

*Similar analysis will be provided for each company listed above.