The North America market for Cardiac Assist Devices Market is estimated at USD 535.22 Million in 2019 and is poised to reach USD 828.04 Million by 2024, growing at a CAGR of 9.12% during the forecast period 2019-2024.
These devices are normally used in patients suffering from End-Stage Congestive Heart Failure, where the chances of survival are minimal. The scarcity of donor organs has steered to the development of these devices. Various pipeline products are going through clinical trials in order to provide vigorous clinical data on the safety and efficacy of the devices. The unveiling and approval of novel technologically advanced products will further increase the demand for cardiac assist devices in the future.
A rise in the aging population, upsurge in occurrence of cardiovascular diseases, technological advancements, and availability of more efficient and minimally invasive devices in the future are driving the cardiac assist devices market. Furthermore, the lack of donor's hearts for transplantation is also driving the cardiac assist devices implantations in patients with severe heart complications, thereby increasing the market opportunities.
Availability of alternate solutions like pacemaker, heart transplantation along with the risks associated with the device implantation and surgical impediments such as kidney failure, bleeding, Infection and occurrence of stroke are inhibiting the adoption of Cardiovascular Assist Devices.
North America Cardiac Assist Devices Market segmented and sub-segmented into the following categories.
By Type: Ventricular Assist Devices (VAD) (Right Ventricular Assist Device (RVAD), Left Ventricular Assist Device (LVAD), Bi-Ventricular Assist Device (Bi-VAD) & External Ventricular Assist Devices), Intra-Aortic Balloon Pumps (IABP) & Total Artificial Heart (TAH).
By Country: the US, Canada & Rest of North America
Regionally, North America accounts to about 8% of the Global Cardiac Assist Devices Market and is estimated to have the highest growth rate in the forecast period
Top companies in the North America Cardiac Assist Devices Market:
Some of the Key Players Operating in the Market are Thoratec Corporation, MAQUET GmbH & Co, Teleflex Incorporated, Berlin Heart GmbH, Abiomed, Inc., HeartWare International, SynCardia Systems, Inc, Jarvik Heart, Inc. and Terumo Corporation. BiVacor Pty Ltd, Braile Biomedica Ltd., Calon Cardio-Technology Ltd., CardiacAssist, Inc., CardioBridge GmbH, Carmat SAS, Cleveland Heart, Inc., CorAssist Cardiovascular Ltd., Evaheart Medical USA, Inc., Leviticus Cardio Ltd., are the leading market players with dominance over 60% of the market.
Thoratec Corporation and Berlin Heart are the prominent players in the VAD segment whereas Teleflex and MAQUET are dominant players in the Intra-Aortic Balloon Pumps (IABP) segment. SynCardia is the foremost company to provide the only Food and Drug Administration (FDA) approved Total Artificial Heart (TAH).
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2.2 Analysis Design
2.3 Research Phases
2.3.1 Secondary Research
2.3.2 Primary Research
2.3.3 Econometric Modelling
2.3.4 Expert Validation
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5.1 Global Cardiac Assist Devices Market, by Type
5.1.1 Ventricular Assist Devices (VAD)
184.108.40.206 Right Ventricular Assist Device (RVAD
220.127.116.11 Left Ventricular Assist Device (LVAD)
18.104.22.168 Bi-Ventricular Assist Device (Bi-VAD
22.214.171.124 External Ventricular Assist Devices
5.1.2 Intra-Aortic Balloon Pumps (IABP)
5.1.3 Total Artificial Heart (TAH)
6.2 United States
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.1 Thoratec Corporation
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 Berlin Heart GmbH
8.3 Abiomed, Inc
8.4 HeartWare International
8.5 Jarvik Heart, Inc
8.6 Terumo Corporation
8.7 Calon Cardio-Technology Ltd.
8.8 CardiacAssist, Inc.
8.9 CardioBridge GmbH
8.10 Carmat SAS
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.1 Market Outlook
10.2 Investment Opportunities