United States Ventricular Assist Device Market Insights Forecasts to 2033

• The US Ventricular Assist Device Market Size was valued at USD 821.75 Million in 2023.
• The Market Size is Growing at a CAGR of 12.89% from 2023 to 2033
• The US Ventricular Assist Device Market Size is Expected to Reach USD 2761.77 Million by 2033

The US Ventricular Assist Device Market Size is Anticipated to Exceed USD 2761.77 Million by 2033, Growing at a CAGR of 12.89% from 2023 to 2033.

Market Overview

Ventricular assist devices are implanted in heart failure patients with severe symptoms to offer them mechanical circulatory support by pumping blood from the chambers of the heart to the whole body. The increasing prevalence of heart failure has been fueling up demand for such devices. Technological developments in the healthcare sector help healthcare professionals record and monitor clinical data frequently at almost zero error levels with the aid of artificial intelligence. The outlook of the market will shift to high-performance capabilities with AI algorithms. AI can be useful in establishing the risk of cardiovascular diseases, which could be used to facilitate better risk prediction and treatment among patients. Also, it can be used during the surgery to offer the analysis of the patient's anatomy, risk factors, history of disease, and many others, which can improve the results of the surgeries. On the other hand, while machine learning algorithms may eventually surpass ordinary operative risk scores in prognosticating intra-hospital death following cardiac procedures by cardiothoracic surgeons, advancements in technology related to the development of cardiac procedures will drive the use of ventricular assist devices.

Report Coverage

This research report categorizes the market for the United States ventricular assist device market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the United States ventricular assist device market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the United States ventricular assist device market.

Driving Factors

Heart failure is one of the major causes of death throughout the world, contributing to more than 1-2% of the population in the Western world. As reported by the American Heart Association (AHA), heart failure will augment with a highly significant growth rate and even attain more than 8 million patients by 2030 in the U.S. Around 5.5 million people globally were suffering from heart failure as of 2020. Furthermore, the elderly population is another risky group, prone to HF; therefore, with the increasing geriatric population, the prevalence of this disease has also increased manifold.

Restraining Factors

The shortage of heart donors and the rising proportion of heart donors has led to a higher penetration of these products. However, the implantation cost has limited the use of these devices in many markets because it becomes expensive for patients as well.

Market Segment

The U.S. ventricular assist device market share is classified into product and application.

• The left ventricular assist device segment is expected to hold the largest market share through the forecast period.

The US ventricular assist device market is segmented by product into left ventricular assist device, right ventricular assist device, and bi-ventricular assist device. Among these, the left ventricular assist device segment is expected to hold the largest market share through the forecast period. These devices, which facilitate the normal functioning of the heart's chambers in patients, are being developed by market players for patients with heart failure and other cardiovascular diseases. For example, in February 2020, Abbott received Breakthrough Device designation from the U.S. FDA for its under-development Fully Implantable Left Ventricular Assist System (FILVAS).

• The destination therapy segment is expected to hold the largest market share through the forecast period.

The US ventricular assist device market is segmented by application into bridge to transplant (BTT), bridge to candidacy (BTC), and destination therapy (DT). Among these, the destination therapy segment is expected to hold the largest market share through the forecast period. With the increase in cases of final-stage cardiac failure, DT is the alternative to transplant, which can increase functional capacity, extend patients' lives, and relieve symptoms of heart failure. LVADs are used as destination therapy for the treatment of patients not able to undergo heart transplantation.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the United States ventricular assist device market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Berlin Heart
• ABIOMED
• Abbott
• Jarvik Heart, Inc.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In November 2022, Jarvik Heart, Inc. recently undertook a clinical trial for its ventricular assist device, which has been named Jarvik 2015, to strengthen its product portfolio.

Market Segment

This study forecasts revenue at regional, and country levels from 2022 to 2033. Spherical Insights has segmented the United States ventricular assist device market based on the below-mentioned segments:

United States Ventricular Assist Device Market, By Product

• Left Ventricular Assist Device
• Right Ventricular Assist Device
• Bi-Ventricular Assist Device

United States Ventricular Assist Device Market, By Application

• Bridge to Transplant (BTT
• Bridge to Candidacy (BTC
• Destination Therapy (DT)