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Global Cardiac Assist Devices Market is poised to reach USD 2506.85 Million by 2023

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The global market for cardiac assist devices is estimated at USD 1672.56 Million in 2018 and is poised to reach USD 2506.85 Million by 2023, growing at a CAGR of 8.43%. The key drivers for the global cardiac assist devices market are the rise in global aging population, increase in prevalence of cardiovascular diseases, technological advancements and availability of more efficient devices in future.

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By Type, the Ventricular Assist Devices (Devices) accounted for the largest share of the market in 2015

The global cardiac assist devices market is segmented on the basis of type into Ventricular Assist Devices (VAD), Intra-Aortic Balloon Pumps (IABP) & Total Artificial Heart (TAH). Availability and invention of more minimally invasive devices in the future is driving the global cardiac assist devices market. Intra-Aortic Balloon Pumps (IABP) segment is expected to have the largest growth rate in this segment.

In Ventricular Assist Devices (VAD), External Ventricular Assist Devices accounted for the largest share of the market in 2015

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The Ventricular Assist Devices (VAD) is further segmented into Right Ventricular Assist Device (RVAD), Left Ventricular Assist Device (LVAD), Bi-Ventricular Assist Device (Bi-VAD) and External Ventricular Assist Devices. External Ventricular Assist Devices contributed for the largest share in the global Cardiac Assist Devices market. Whereas the Bi-Ventricular Assist Device (Bi-VAD) is estimated to have the highest growth rate among all the sub segments of this segment. Unavailability of sufficient number of donor hearts acts a promotor for the Cardiac Assist Devices market globally.

Global market dominated by North America in 2015

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North America accounted for the biggest share of the Cardiac Assist Market in 2015. It is followed by Europe. High awareness in patients and increased reimbursements for implantation of cardiac devices is the key driver behind the high contribution of the region.

Major players on the market include Teleflex Incorporated, Berlin Heart GmbH, Abiomed, Inc., HeartWare International, 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., MyoCardioCare, Inc., SynCardia Systems, Inc., Windmill Cardiovascular Systems, Inc.

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