Ventricular Assist Device Market to Reach USD 3.2 Billion by 2032

According to analysts at Vantage Market Research, the Global Ventricular Assist Device Market size is worth USD 1.5 Billion in 2023 and is projected to reach USD 3.2 Billion by 2032, growing at a CAGR (Compound Annual Growth Rate) of 7.5% from 2024 to 2032. Ventricular Assist Device are used to support heart function, either as a temporary measure while waiting for a transplant or as a long-term solution for those who cannot undergo surgery, thus expanding the market for these life-saving devices.

Market Overview

An increase in heart failure (HF) leads to a higher demand for VADs as these devices provide critical support for patients with severe heart conditions. As the prevalence of Heart Failure rises in more patients requires advanced treatments to manage their condition, is driving the growth of the market. 

In U.S., the strong growth is driven by the rising number of patients with end-stage heart failure, many of whom are ineligible for heart transplantation, increasing the demand for VADs as both bridge-to-transplant and destination therapy options. Under the Medicare and Private insurers U.S. is also benefits from favorable reimbursement policies, which have made these life-saving devices more accessible to a broader patient population. Additionally, U.S. leading medical institutions and research centers are at the forefront of clinical trials and innovation, contributing to technological advancements such as miniaturization and improved safety profiles of VADs.

Medtronic Extravascular ICD global clinical trial results reinforce device safety and effectiveness

• In May 2023, Medtronic plc, a global leader in healthcare technology, announced longer-term follow-up results from its investigational EV ICD™ System, designed to treat life-threatening fast heart rhythms that may cause sudden cardiac arrest. Data from the Extravascular Implantable Cardioverter Defibrillator (EV ICD) Pivotal Study, with patients followed for an average of 17.1 months, were presented as late-breaking science at Heart Rhythm 2023 in New Orleans. The EV ICD system remains investigational and is not yet approved for sale or distribution in the U.S.

Key Takeaways from the Report

• In 2023, North America dominated the market with 46.20% market share. The market is driven by the high incidence of heart failure, advanced healthcare infrastructure, and increasing adoption of cutting-edge medical technologies
• By Device Type, Left Ventricular Assist Device (LVAD) is accounted 76.20% market share. The segment is driven by rising prevalence of end-stage heart failure, technological innovation in LVAD device, increasing awareness among healthcare providers and patients, and growing aging population
• Based on Application, the destination therapy segment is dominated the market with 45.20% market share. The Segment is an end-stage therapy where the VADs are implanted in severe heart failure patients, and in patients who are not candidates for transplantation
• Based on Design, the implantable ventricular assist device segment is dominated the market share with 73.40% market share in 2023
• By End User, hospitals and ambulatory surgical centers segment dominated the market with significant market share

Top Companies

• Abiomed
• Medtronic
• Abbott
• Berlin Heart
• Cardiac Assist Inc.
• Jarvik Heart Inc.
• ReliantHeart Inc.
• Sun Medical Technology Research Corp

Report Coverage

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Latest News

FDA Approves RECOVER IV Randomized Controlled Trial with Exception from Informed Consent (EFIC)

• In September 2022, Abiomed has announced two FDA approvals for clinical research on Impella® heart pumps in patients with acute myocardial infarction (AMI) cardiogenic shock. The U.S. FDA has approved the on-label RECOVER IV randomized controlled trial (RCT), which will evaluate AMI cardiogenic shock patients. This two-arm trial will assess whether percutaneous coronary intervention (PCI) with Impella support initiated before PCI is superior to PCI performed without Impella support