U.S. Ventricular Assist Devices Market Size, Share & COVID-19 Impact Analysis, By Product (Left Ventricular Assist Device, Right Ventricular Assist Device, and Bi-Ventricular Assist Device), By Type (Pulsatile Flow and Continuous Flow), By Application (Bridge to Transplant (BTT), Bridge to Candidacy (BTC), Destination Therapy (DT), and Bridge to Recovery (BTR)), and By End-user (Hospitals & ASCs and Specialty Clinics & Others), and Country Forecast, 2023-2030

The U.S. ventricular assist devices market size was worth USD 582.0 million in 2022 and is projected to grow at a CAGR of 10.5% during the forecast period. 

Heart failure is a condition in which the normal functioning of the heart is disrupted. The U.S. has observed a significant increase in the prevalence of heart failure. According to data published by the Centers for Disease Control and Prevention (CDC), around 6.2 million people in the U.S. suffered heart failure in 2020. Moreover, the geriatric population is generally more prone to such cardiovascular conditions.

Ventricular assist devices (VADs) are mechanical circulatory support (MCS) solutions that support the functionality of a failing heart. These devices are implanted into the patient’s body to circulate blood from the heart's chambers to the whole body. The increasing prevalence of cardiovascular diseases is fueling the adoption of these devices.

During COVID-19 pandemic in 2020, the market experienced a decline in its growth. The decline was due to the low demand for ventricular assist devices, as non-emergency surgeries were postponed for a short period of time in 2020 to control the spread of the virus.

LATEST TRENDS

Market Players are Emphasizing on New Product Launches to Reduce the Mortality Rates Due to Heart Disorders

The prevalence of cardiovascular devices such as coronary heart disease has been increasing significantly in the U.S.

• As per data published by the Centers for Disease Control and Prevention (CDC), in 2021, around 375,476 people died in the U.S. due to coronary heart diseases.

Therefore, market players have increased their focus on new product launches to provide effective treatment and control mortality rates due to heart diseases.

• In October 2022, ABIOMED received the U.S. FDA approval for Impella RP Flex to treat right heart failure, especially when the right ventricle is unable to pump blood to the lungs.

DRIVING FACTORS

Rising Product Adoption in Destination Therapy to Fuel the Market Growth

Heart transplantation is an option in patients suffering from late stage heart failure, when the medications do not show any improvement.

• As per the United Network for Organ Sharing Data, as of 2021, an estimated 31,238 heart transplantations occurred in the past ten years.

However, the process is very complex and comes with several side effects such as coronary allograft vasculopathy (CAV), infection, bleeding, and others. Moreover, the waiting time for patients is very long and could even take years. Besides, it becomes difficult for the patient to survive for this long with a failing heart.

The shortage of organ donors and the complexity associated with heart transplantation has increased the demand for alternate treatments. The adoption of alternate treatment options, such as ventricular assist device implantation, has increased. The devices can be used in destination therapy. Therefore, the increasing adoption of these devices has been fueling the U.S. ventricular assist devices market growth.

RESTRAINING FACTORS

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High Cost of The Devices to Limit their Adoption

The increasing prevalence of heart failure and shortage of heart donors have increased the demand for ventricular assist devices. However, the devices are quite costly as compared to other treatment methods.

• For instance, in the U.S., the left ventricular assist devices (LVAD) implantation surgery costs around USD 175,000 - USD 200,000. This cost includes the device cost and the surgery cost.

Such high costs associated with VAD implantation limit its adoption, restraining the market growth to some extent.

In 2021, around 7.6 million people in the U.S. suffered heart failure, with around 0.8 million people suffering from heart attacks every year.

SEGMENTATION

By Product Analysis

Based on product, the market is segmented into left ventricular assist device, right ventricular assist device, and bi-ventricular assist device.

The left ventricular assist device segment held a significant market size in 2022. Left ventricular assist device increases blood flow to the body, improves the function of kidneys, liver, brain, and other organs, and improves the overall patient strength. Such benefits associated with these devices are fueling their adoption in the market.

By Type of Flow Analysis

Based on the type of flow, the market is bifurcated into pulsatile flow and continuous flow.

The continuous flow segment dominated the market in 2022. Continuous flow devices are less prone to thromboembolic events, making it a suitable choice among patients suffering from advanced heart failure. The advantages of continuous flow devices over other devices is propelling the segmental growth.

• According to a 2022 study published in the National Center for Biotechnology Information, 58% improved survival rate was reported among patients with the use of HeartMate 3, a continuous flow VAD.

By Application Analysis

Based on application, the market is categorized into destination therapy (DT), bridge to candidacy (BTC), bridge to recovery (BTR), and bridge to transplant (BTT).

The bridge to transplant (BTT) segment is expected to grow at the fastest CAGR during the forecast period. The growth is attributed to the limited availability of heart donors and long waiting hours for heart transplantation.

• According to a study published by the American Institute for American Research, in 2022, approximately 100,000 Americans waits for organ transplants and over 6,000 die while waiting. This shortage of organ donors is further leading to the increasing demand for other treatment options such as VAD till the patient receives a heart donor.

By End-user Analysis

Based on end-user, the market is segmented into hospitals & ASCs, and specialty clinics & others.

The hospitals & ASCs segment accounted for a significant U.S. ventricular assist devices market share. The increasing government and regulatory bodies' focus on the investment in hospital infrastructure through various government policies is driving the segment growth.

• In November 2022, the Centers for Disease Control & Prevention awarded more than USD 3.0 billion to improve U.S. health workforce and infrastructure. Thus, increasing initiatives by the government and private organization for improving the healthcare infrastructure are contributing to the growth of the segment in the market.

KEY INDUSTRY PLAYERS

In terms of the competitive landscape, the market includes established and emerging companies. Abbott accounted for a significant market share in 2022. The company's strong presence in the market is attributed to its strong focus on strategic initiatives to expand its product offerings in the market.

Other players operating in the market include ABIOMED (Johnson & Johnson Services, Inc.), Berlin Heart, and Jarvik Heart, Inc. The U.S. ventricular assist devices market players have been focusing on strengthening its presence by getting regulatory approvals for the commercialization of its products.

LIST OF KEY COMPANIES PROFILED:

• Berlin Heart (Germany)


• ABIOMED (Johnson & Johnson Services, Inc.) (U.S.)


• Abbott (U.S.)


• Jarvik Heart, Inc. (U.S.)

KEY INDUSTRY DEVELOPMENTS: 

• December 2022 – Johnson & Johnson Services, Inc. acquired ABIOMED which will help the company widen its product reach.


• November 2022 – Jarvik Heart, Inc., conducted a clinical trial for their ventricular assist device named Jarvik 2015 to strengthen their product portfolio. 


• August 2022 – Abbott announced the results of the patients implanted with its HeartMate 3 left ventricular assist device. The patients showed better survival rate with the implantation of this device which will increase the company's brand presence.

REPORT COVERAGE

An Infographic Representation of U.S. Ventricular Assist Devices Market

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The market report provides a detailed analysis of the market. It includes key points such as an overview of the technological advancements, the prevalence of heart failure in the U.S., and others. Additionally, it includes adoption of these devices in the U.S., new product launches, key industry developments such as mergers, collaborations, and acquisitions, and the impact of COVID-19 on this market. Besides this, the report offers insights into the market trends and highlights key industry dynamics. In addition to the aforementioned factors, it encompasses several factors that have contributed to the growth of the market over recent years.

Report Scope & Segmentation