The Global Cardiac Assist Devices(CAD) Market is valued at USD XX Billion in 2016 and is poised to reach USD XX Billion by 2022 growing at a CAGR of XX% during the forecast period. Cardiac assist devices are electromechanical devices which work alongside the heart to carry out its function. The demand for such devices has risen over the years due to increased cases of cardiovascular diseases (CVDs) and the scarcity of organs to meet the demand. According to WHO, more than 17.7 million people died from CVDs in 2015 representing 31% of all global deaths. Such a prevalence of CVDs coupled with technological advancements in device design can widen the market scope for cardiac assist devices.Market Dynamics
The major growth drivers of the cardiac assist devices market are the increasing global ageing population, shortage of heart donors, availability of technologically advanced and minimally invasive devices and favourable reimbursement for such devices.
The expanding diabetic population, genetic factors and changing lifestyle factors such as overreliance on junk foods, tobacco and alcohol which are significant contributors to end-stage CVDs also act as key growth drivers for the cardiac assist devices market.
However, parallel factors like the existence of alternatives treatments like pacemakers and the risks involved in device implantation such as blood clots, device failure and other surgical complications restrain the growth of the market.
The development and availability of minimally invasive devices and wider acceptance of cardiac assist devices over alternatives represent opportunities for the players in the market.Market Segmentation
The market is segmented on the basis of type into three categories - Intra-aortic balloon pump, total artificial heart, ventricular assist device.
Intra-aortic balloon pump(IABP) is a type of CAD device which increases myocardial oxygen perfusion and cardiac output at the same time. It contains 2 components. First, a thin balloon catheter positioned in the aorta after being introduced through an artery in the leg and second, the pump itself, which continually inflates and deflates the balloon in sync with the heartbeat.
Total artificial heart, on the other hand, is a device that replaces the lower chambers of the heart and recovers a failing heart by performing all the functions of a normal heart.
Ventricular assist device(VAD) is an implantable mechanical pump which facilitates pumping of the blood from the lower chambers of the heart to the rest of the body. It is used in case of congestive heart failure wherein the heart is unable to pump blood to various parts of the body. The ventricular assist device segment is classified further into left ventricular assist device, right ventricular assist device, bi-ventricular assist device, and external ventricular assist device on the basis of defect and placement of the device.
Among the three broad segments of CADs, the ventricular assist devices dominate in terms of market share.
In terms of geography, the global cardiac assist devices market is divided into North & South America, Eastern & Western Europe, Asia-Pacific, Japan and Middle East & Africa. North America, with the highest number of cases of heart failures, highest patient awareness and reimbursement benefits for CAD procedures tops the table followed by Europe, Asia-Pacific and Japan.Key Players
Some of the major players in the market include Berlin Herat GmbH, ABIOMED Inc., MAQUET GmbH & Co. KG, Thoratec Corporation, Teleflex Incorporated, HeartWare International, Inc. and SynCardia Systems, Inc. Thoratec Corporation and Berlin Heart are the market leaders in Ventricular Assist Device (VAD) segment, while Teleflex and MAQUET top the list in the Intra-Aortic Balloon Pumps (IABP) segment.
The report contains comprehensive analysis on:
--> Global Cardiac Assist Devices Market Segments
--> Global Cardiac Assist Devices Market Drivers, Restraints and Opportunities
--> Global Cardiac Assist Devices Market Size & Forecast 2016 to 2022
--> Supply & Demand Value Chain
--> Global Cardiac Assist Devices Market Current Trends
--> Competition & Major Companies
and R&D Status
--> Porters Five Force Analysis
--> Strategic and Critical Success Factor Analysis of Key Players
Regional analysis for Global Cardiac Assist Devices Market includes
--> North America
>> US and Canada
--> Latin America
>> Mexico, Brazil, Argentina and Rest of Latin America
--> Western Europe
>> EU5 (Germany, France, Italy, Spain, U.K.)
>> Nordic Countries (Denmark, Finland, Norway, and Sweden)
>> Benelux (Belgium, The Netherlands, and Luxembourg)
>> Rest of Western Europe
--> Eastern Europe
>> Rest of Eastern Europe
--> Asia Pacific
>> Australia and New Zealand
>> Rest of Asia Pacific
--> Middle East and Africa
>> GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
>> South Africa
>> North Africa
>> Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides in-depth market segmentation that is derived from extensive product mapping exercises, macro-economic factors and other qualitative and quantitative insights. The impact of all such factors are delivered across multiple market segments and geographies.Report Highlights:
--> Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
--> Consumer and Pricing Analysis
--> Market dynamics of the industry
--> In-depth Market Segmentation
--> Historical and Projected Market Sizing in terms of volume and value
--> Recent market trends and Impact Factors
--> R&D Status and Technology
--> Extensive Industry Structure Coverage
Publisher Name : Market Litmus