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Pulished Date April, 2021
ID: 14
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North America Cardiac Assist Devices Market Research Report – Segmented By Type and Country (the United States, Canada and Rest of North America) – Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2021 to 2026)

Pulished: April, 2021
ID: 14
Pages: 139

North America Cardiac Assist Devices Market Size (2021 to 2026)

The size of the North American Cardiac Assist Devices Market is estimated to worth USD 903.56 million by 2026 and USD 584.03 million in 2021, growing at a CAGR of 9.12% between 2021 to 2026.

The North American cardiac assist devices market is projected to be driven by the growth in the incidence of cardiovascular illnesses, innovative therapies, medical device affordability, increasing adoption and acceptance of cardiac assist devices in this region, and medical device research and development. The growing frequency of heart failures and the number of patients with cardiovascular diseases (CVDs) drive the need for cardiac assist devices, which mechanically pump blood in patients with heart failures or weakened hearts. A favorable reimbursement system is also projected to boost market growth by boosting treatment rates and lowering out-of-pocket costs. In addition, other factors such as an aging population and an increase in the frequency of heart disease are projected to propel the market forward over the forecast period.

The need for cardiac assist devices has increased due to continued rapid improvements in assist device technology and innovative uses of current therapies. Over the forecast period, demand for assistive devices such as bridge-to-transplant, bridge-to-recovery, and destination treatments is projected to be driven by the presence of well-established reimbursement schemes and raising awareness. Significant market differentiation is technological advancements in innovative product creation. New product innovations are likely to attract investments from private equity investors and venture capitalists due to the ongoing investments in technological upgrades. As technology advances, the number of dependable cardiac assist devices has grown, providing greater patient treatment choices. Furthermore, the government has boosted funding for research and development projects in advanced medical treatment alternatives, emphasizing patient safety.

The cardiac assist devices market in North America is anticipated to be restrained by fierce rivalry among current companies, treatment complications and severity, and a lack of awareness among the rural population. In addition, the market for cardiac assist devices is also being held back by the high cost of assistive devices for severe heart failure and the high expense of follow-up treatment.

The market for cardiac assist devices in the North American region is expected to be hampered by the availability of alternative therapies, such as pacemakers, and the risk involved with device implantation.

This research report on the 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 United States
  • Canada
  • Rest of North America

Regionally, North America accounts for a significant share of the global cardiac assist devices market and is estimated to have the forecast period's highest growth rate. Because of the high incidence of cardiovascular illnesses and significant companies in the area, North America led the cardiac assist devices market. The market for cardiac assist devices is growing in North America due to increased clinical studies and increased patient knowledge of the diversity of technologies available. In addition, there are numerous ventricular assist device programs at various hospitals in this region, which contributes to a higher rate of patient acceptance. These programs are targeted at raising awareness of devices. The United States is home to many of the world's obese population, which is one of the primary contributors to the growth in cardiovascular disease. Furthermore, the existence of technologically advanced healthcare infrastructure in the United States is expected to improve treatment rates and, as a result, market growth in the future years.

KEY MARKET PLAYERS:

Some notable companies operating in the North American cardiac assist devices 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. Introduction

                1.1 Market Definition                    

                1.2 Study Deliverables                  

                1.3 Base Currency, Base Year and Forecast Periods                          

                1.4 General Study Assumptions                

  1. Research Methodology

                2.1 Introduction                               

                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                          

  1. Overview

                3.1 Executive Summary                

                3.2 Key Inferences                         

                3.3 New Developments                               

  1. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)

                4.1 Market Drivers                          

                4.2 Market Restraints                    

                4.3 Key Challenges                         

                4.4 Current Opportunities in the Market                              

  1. Market Segmentation

                5.1 Global Cardiac Assist Devices Market, by Type                            

                                5.1.1 Ventricular Assist Devices (VAD)   

                                                5.1.1.1 Right Ventricular Assist Device (RVAD

                                                5.1.1.2 Left Ventricular Assist Device (LVAD)

                                                5.1.1.3 Bi-Ventricular Assist Device (Bi-VAD

                                                5.1.1.4 External Ventricular Assist Devices

                                5.1.2 Intra-Aortic Balloon Pumps (IABP)                

                                5.1.3 Total Artificial Heart (TAH)

  1. Geographical Analysis

                6.1 Introduction                               

                6.2 United States                            

                6.3 Canada                         

  1. Strategic Analysis

                7.1 PESTLE analysis                         

                                7.1.1 Political     

                                7.1.2 Economic 

                                7.1.3 Social         

                                7.1.4 Technological         

                                7.1.5 Legal          

                                7.1.6 Environmental       

                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     

  1. Market Leaders' Analysis

                8.1 Thoratec Corporation                             

                                8.1.1 Overview 

                                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                             

  1. Competitive Landscape

                9.1 Market share analysis                            

                9.2 Merger and Acquisition Analysis                       

                9.3 Agreements, collaborations and Joint Ventures                         

                9.4 New Product Launches                         

  1. Expert Opinions

                10.1 Market Outlook                     

                10.2 Investment Opportunities                 

     Appendix                                           

  1. List of Tables
  2. List of Figures
  • Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. North America Cardiac Assist Devices Market, By Region, From 2021 to 2026 (USD Billion)
  2. North America Cardiac Assist Devices Market, By Type, From 2021 to 2026 (USD Billion)
  3. North America Ventricular Assist Devices (VAD) Market, By Region, From 2021 to 2026 (USD Billion)
  4. North America Intra-Aortic Balloon Pumps (IABP) Market, By Region, From 2021 to 2026 (USD Billion)
  5. North America Total Artificial Heart (TAH) Market, By Region, From 2021 to 2026 (USD Billion)
  6. North America Ventricular Assist Devices (VAD) Market, By Type, From 2021 to 2026 (USD Billion)
  7. North America Right Ventricular Assist Device (RVAD) Market, By Region, From 2021 to 2026 (USD Billion)
  8. North America Left Ventricular Assist Device (LVAD) Market, By Region, From 2021 to 2026 (USD Billion)
  9. North America Bi-Ventricular Assist Devices Market, By Region, From 2021 to 2026 (USD Billion)
  10. North America External Ventricular Assist Devices Market, By Region, From 2021 to 2026 (USD Billion)
  11. United States Cardiac Assist Devices Market, By Type, From 2021 to 2026 (USD Billion)
  12. Canada Cardiac Assist Devices Market, By Type, From 2021 to 2026 (USD Billion)
  13. United States Ventricular Assist Devices (VAD) Market, By Type, From 2021 to 2026 (USD Billion)
  14. Canada Ventricular Assist Devices (VAD) Market, By Type, From 2021 to 2026 (USD Billion)

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