This market research report includes a detailed segmentation of the global LVAD market by application (BTT therapy, BTD therapy, destination therapy, and BTR therapy). It also outlines the market shares of key regions such as the Americas, APAC, and EMEA. The key vendors analyzed in this report are Abiomed, HeartWare, and St. Jude Medical.
Technavio’s market research analysts estimate the global LVAD market to grow at a CAGR of 13% between 2016 and 2020. The global LVADs market is the fastest growing segment of the global cardiac support devices market, owing to the rising prevalence of cardiac disorders such as CVDs and heart attacks. LVADs are considered the primary treatment option for heart failure patients. Of late, the market is witnessing the introduction of third-generation LVADs, which are smaller, less noisy, and durable. The Americas is the leading region in the global LVAD market, owing to the adoption of MI devices for heart surgeries over open-heart surgeries and the availability of reimbursements by Medicare.
The new market research report from Technavio provides a breakdown and analysis of the LVAD segments by technology.
“Some of the LVADs which are under development may be more appealing to patients. For instance, fully implantable LVADs, which are currently under investigation, will eliminate the need to carry portable drivers required to charge current-generation LVADs for patients. These wireless LVADs will increase the quality of life, and therefore, minimize uncertainties among patients when considering LVAD implantation as a treatment option,” says Barath Palada, Lead Analyst, Healthcare & Lifesciences, Technavio Research
The destination therapy occupied the largest share in the LVAD market with a market share of more than 47% during 2015. This process involves the use of ventricular assist devices (VADs) in patients that have irreversible heart failure but are not candidates for cardiac transplantation because of factors such as advanced age, smoking, and cancer.
The leading vendors in the global LVAD market include Abiomed, HeartWare, and St. Jude Medical. The market presents tremendous opportunities for growth, many vendors are adopting numerous strategies to remain competitive. Vendors are focusing on promising product pipelines and strategic alliances with other vendors to expand their geographical presence and improve technology.
Global LVADs market segmentation by application
Source: Technavio, 2016
A more detailed analysis is available in the Technavio report, Global LVAD Market 2016-2020.
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