Cardiac Assist Devices MarketSize and Trends

Cardiac Assist Devices Market Taxonomy

On the basis of product type, the global market is segmented into:

Total Artificial Heart (TAH)
Intra-Aortic Balloon Pumps (IABP)
Ventricular Assist Devices (VAD)

On the basis of placement location, the global market is segmented into:

Right Ventricular Assist Device (RVAD)
Left Ventricular Assist Device (LVAD)
External Ventricular Assist Device (VAD)
Bi-Ventricular Assist Device (Bi-VAD)

The market for cardiac assist devices is majorly driven by the growing geriatric population, increasing prevalence of heart failure, high adoption of cardiac assist devices. These devices are also used as a BTT or Bridge-To-Transplantation, BTR or Bridge-To-Recovery, and/or DT or Destination Therapy depending upon the severity of the disease and necessity of the patient. Advancements in technology such as minimally invasive procedures and enhanced efficiency are expected to fuel growth of this market in the near future.

High prevalence of heart diseases and rise in geriatric population will drive growth of the overall market

According to the American Heart Association, in 2013, cardiovascular disease is the foremost global cause of deaths among the population, accounting for about 17.3 million deaths per year. According to the same report, the number of deaths is expected to rise to around 23.6 million by 2030. Moreover, growing aging population and rising prevalence of coronary artery diseases are some of the other major factors expected to fuel growth of the market. Increasing adoption of unhealthy dietary habits, lack of proper exercise, increasing stress, and sedentary lifestyles are increasing occurrences of heart-related diseases, especially heart failures. This in turn is increasing demand for cardiac assist devices, thus expected to boost market growth over the forecast period.