The Cardiac Assist Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape etc. According to the report the Cardiac Assist Market is estimated to be $1312 Million in 2015 and predicted to rise to $1988.8 Million by 2020, with a CAGR of 8.43%. The market is segmented by type into Ventricular Assist Devices (Right Ventricular Assist Device, Left Ventricular Assist Device, Bi- Ventricular Assist Device and External Ventricular Assist Devices), Intra-Aortic Balloon Pumps and Total Artificial Heart. Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
Technological advancement in Health Care sector has increased the demand for cardiac assist devices. The key drivers for the market are increasing incidences of cardiovascular diseases due to the rising aging population and availability of efficient devices. Implantation of such devices in the body involves risk such as device failure, respiratory failure and blood clot development which are restraining the market growth. Rising competition from other alternative devices like pacemakers and also the permanent cure that is heart transplant are limiting the market growth.
Minimally invasive and advanced devices are expected to rise up in the market during the forecast period. The largest segment in the cardiac assist devices market is the Ventricular Assist Devices, the reason being frequent failure of heart ventricles due to obesity, high cholesterol and high blood pressure. Thoratec Corporation is the leading company for Ventricular Assist Devices in Europe has accounts for half of the European market.
Globally North America holds major share in the Cardiac Assist Devices Market due to high incidences of heart failure. Increasing patient awareness and reimbursement provided for the implantation procedures are some of the factors driving the cardiac assist devices market in this region. Europe stands at the second position in terms of market share, followed by Asia Pacific.
Major companies dominating the market with their products are Windmill Cardiovascular Systems Inc., SynCardia Systems Inc, MyoCardioCare Inc., Leviticus Cardio Ltd., Evaheart Medical USA Inc., CorAssist Cardiovascular Ltd., Cleveland Heart Inc., Carmat SAS, CardioBridge GmbH, Cardiac Assist Inc., Calon Cardio-Technology Ltd., Braile Biomedica Ltd., BiVacor Pty Ltd., Teleflex Incorporated, Berlin Heart GmbH, Abiomed, Inc., HeartWare International, Jarvik Heart, Inc. and Terumo Corporation
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