The American Heart Association estimates that in 2013, cardiovascular disease—which claimed 17.3 million lives annually—was the leading cause of death worldwide. The same analysis predicts that by 2030, there will be around 23.6 million more deaths. Additionally, a growing elderly population and an increase in coronary artery disease prevalence are two other key drivers anticipated to drive market expansion. Heart-related illnesses, notably heart failure, are on the rise due to an increase in bad eating patterns, inadequate exercise, rising stress levels, and sedentary lifestyles. This in turn is boosting the market's growth throughout the forecast period by raising the need for cardiac assist devices.
According to Future Market Insights (FMI), the market for Cardiac Assist Devices is expected to have grown steadily between 2016 and 2020, at a CAGR of 5.64%.
Major Players in the Cardiac Assist Devices Industry:
1. MAQUET GmbH & Co.: producer of motorised operating tables for use in hospitals. The business provides comprehensive medical technology solutions for operating rooms and intensive care units, offering the best care for patients and the comfort of medical staff while working. Built in 1837. German headquarters are at Rastatt. Maquet joined the Getinge Group on January 1, 2001.
2. Berlin Heart GmbH: creator of ventricular assist devices designed to mechanically support the heart. With the help of the company's ventricular assist devices, patients can stabilise their cardiac activity and receive therapy for both acute and chronic cardiac insufficiency. created in 1996. Headquarters in Germany's Berlin.
3. Teleflex Incorporated: Manufacturer of hospital supplies and medical equipment with a focus on the bloodstream/vascular and surgical markets, Teleflex is situated in Wayne, Pennsylvania. created in 1943. United States headquarters. In 2022, eleflex Incorporated (NYSE: TFX), a top provider of medical technologies, declared that it had successfully acquired Standard Bariatrics, Inc., which had made a breakthrough powered stapling technology for bariatric surgery commercially available.
4. Thoratec Corporation: Medical device creators and producers of mechanical circulatory support. It creates, produces, and sells goods used to treat the whole spectrum of clinical requirements for patients with severe heart failure. Built in 1976. United States headquarters.
5. Heart Ware International: Manufacturer of diagnostic tools and medical supplies that support technology used to treat patients with severe heart failure. Headquarters in the United States; founded in 2003. HeartWare International, Inc. was fully acquired by Medtronic plc, the world leader in medical technology, in 2016.
6. SynCardia Systems, Inc: Established in 2001 by renowned cardiothoracic surgeon Jack G. Copeland, MD, biomedical engineer Richard G. Smith, MSEE, CCE, and interventional cardiologist Marvin J. Slepian, MD, SynCardia has its headquarters in Tucson, Arizona. Today, SynCardia is the only manufacturer and supplier of the temporary total artificial heart that has received commercial approval worldwide
7. ABIOMED: Abiomed is a top supplier of innovative medical technology that supports circulation and oxygenation. The Impella® heart pump platform is made to enhance blood flow and/or temporarily support the heart's pumping action, allowing the heart to rest and recuperate. The Abiomed Breethe OXY-1 SystemTM is made to support patient mobility while providing oxygenation. built in 1981. head office in Massachusetts. In 2022, Johnson & Johnson will have acquired Abiomed.
Definition: Cardiac assist devices (CAD) are blood pumps that support the circulatory functions of severely ill cardiac patients.
