The Global Cardiac Assist Devices Market is Forecast to Reach $1.4 Billion in 2017

Friday 27 January 2012, Amsterdam

The report provides the market landscape, competitive landscape and market trends information of three cardiac assist devices market categories – Ventricular Assist Devices (VAD), Intra-Aortic Balloon Pumps (IABP) and Total Artificial Heart (TAH). The report also provides comprehensive information on the key trends that affect these categories, along with key analytical content concerning market dynamics. The report also reviews the competitive landscape by outlining the major acquisitions and mergers of the last seven years and providing a detailed analysis of pipeline products in each category. This report was created using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis by GBI Research’s team of industry experts.


The Global Cardiac Assist Devices Market is Forecast to Reach $1.4 Billion in 2017

Figure: Cardiac Assist Devices Market, Global, Revenue ($m), 2010 - 2017

The global market for cardiac assist devices is forecast to exceed $1.4 billion by 2017, with a Compounded Annual Growth Rate (CAGR) of 8.6% from 2010 to 2017. The market is expected to be driven by increasing rates of cardiovascular diseases and the aging population. The shortage of donor hearts for transplantation is also leading to an increase in adoption of cardiac assist devices in patients with end-stage heart failure. Cardiac assist devices are also being used as a Bridge-To-Transplantation (BTT), bridge-to-recovery or destination therapy, depending on the requirement of the patient and the severity of the disease. Technological advancements that make the devices more efficient and minimally invasive are expected to further drive the demand for cardiac assist devices in the future.


The US is the Biggest Market for Cardiac Assist Devices

The US has the biggest market for cardiac assist devices, contributing about 55% of the global market share in 2010. This amounted to $437.4m in 2010. The cardiac assist devices market in the US is forecast to grow at a CAGR of 10.6% to reach a market value of $882.3m in 2017.

Factors such as longer lifespans, an increasing patient population, growing patient awareness, reimbursement coverage for cardiac assist device implantation procedures and higher availability due to the large number of heart care centers throughout the country, explain why the US has the biggest market for cardiac assist devices. Various pipeline products are undergoing clinical trials in the US in order to provide robust clinical data on the safety and efficacy of the devices. The launch and approval of novel technologically advanced products will further drive demand for cardiac assist devices in the future.


Thoratec Corporation was the Leading Company in the Global Cardiac Assist Devices Market in 2010

In 2010, the Thoratec Corporation, with a 48% share, was the leader in the global cardiac assist devices market. It was followed by MAQUET GmbH & Co. with a 17% share, and Teleflex Incorporated with a 7% market share. The other significant players in this market include HeartWare International, Berlin Heart GmbH, ABIOMED and SynCardia Systems. Thoratec Corporation and Berlin Heart are major players in the VAD segment. Companies such as MAQUET and Teleflex are major players in the IABP segment. SynCardia is the first company to offer the only Food and Drug Administration (FDA) approved TAH. There are a number of products in the pipeline currently undergoing clinical trials. The development of technologically advanced cardiac assist devices and the existence of extensive clinical studies has been predicted to drive the growth of the global cardiac assist devices market in the future.


Ventricular Assist Devices to Continue to be the Largest Segment in the Global Cardiac Assist Devices Market

The global VAD market accounted for 63% of the overall cardiac assist devices market and was valued at $500.3m in 2010 and is forecast to grow at a CAGR of 11.3% to reach a market value of $1,054.8m in 2017. The increasing risk of heart failure in the current population and shortage of donor hearts for transplantation has led to the market growth of the VAD segment. The devices are used in patients for destination therapy (long-term cardiac assist), as a BTT and as a bridge-to-recovery. VADs are also expected to become the second preferred treatment of heart failure after oral medications. Technological advancements that make the VADs more efficient and minimally invasive are expected to drive demand in the future. The extensive clinical studies being carried out on VADs are expected to increase the rate of physician adoption in the future, leading to the growth of the global VAD market.


Technological Advancements in Cardiac Assist Devices and Paradigm Shift Towards Total Artificial Heart

Cardiac assist devices have seen various technological advancements, leading to an increase in their adoption by physicians and an increase in demand for better and more advanced products in the market. Physicians now prefer the TAH over VADs for the treatment of patients waiting for heart transplant. This paradigm shift in the field of cardiac assist devices is expected to drive the growth of the market in the future.

The technological developments in the IABP segment include improvement of timing technology and adaptation to various conditions and patient sizes. For instance, the SENSATION 7Fr. IABP Catheter by Maquet is the smallest IAB catheter with fiber-optic technology, making it easier for use in patients with smaller blood vessels.

There were also various technological advancements in VAD products that focused on minimizing risks and complications, and improving durability and efficiency by hemodynamic designing and miniaturization of the devices. For instance, the HeartAssist 5 VAD by MicroMed Cardiovascular is a fifth generation device and the world’s lightest and smallest VAD. It is less invasive and offers treatment for a wide variety of patients from children to adults. In addition, it provides accurate measurement of blood flow as it uses an exclusive blood flow probe and pump. Hence there are various VAD products in the pipeline with better and more enhanced features and benefits. The market launch of these would help VAD- based treatment become a viable option for heart failure patients in the future.

However, for the treatment of patients requiring permanent cardiac support, the TAH can be a viable treatment option for destination therapy. The TAH by SynCardia Systems was the first to receive market approval in the cardiac assist devices market. These devices perform in a similar way to BIVADs, though various clinical studies have proved it to be a better option for destination therapy. This has led to a quicker adoption of the TAH and a paradigm shift in the preferences of physicians.