Global Circulatory Support Devices Market 2017-2021

This market research study identifies Medtronic, St. Jude Medical, ABIOMED, ReliantHeart, and Berlin Heart as the leading players in the global circulatory support devices market. A comprehensive analysis of this market is also presented by product (VAD, TAH, and ECMO), by end-user (hospitals and ASCs), and by geography (the Americas, APAC, and EMEA). 

Overview of the global circulatory support devices market

Countries with high-incomes are witnessing an increased incidence of congestive heart failure issues due to the high adoption of a sedentary lifestyle. This is resulting in an increased mortality rate among the affected individuals. Other heart-related disorders such as coronary heart disease and high blood pressure are also increasing. Technavio’s market research report identifies that the rapid prevalence of congestive heart failure will be one of the primary growth drivers for the global circulatory support devices market till 2021.

The increasing number of patients suffering from congestive heart failure is driving the hospitalization rate and burden on society in terms of total expenditure across the globe. Most of these people belong to the age group of 65 and above.  Patients with class III, IV and stage C, D of congestive heart failure disorders highly require circulatory support devices, which in turn, will drive the sales volume of heart assist device products. Technavio’s market research analysts predict that this market will grow at a CAGR of more than 11% by 2021.

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Circulatory support devices market value as per geography

Manufacturers in the Americas are developing advanced products to treat congestive heart disorder by using advanced technologies. They are trying to prove the safety and efficacy of their advanced products through premarket approval by involving in clinical trials. For instance, St. Jude Medical is focusing on obtaining the US FDA approval for HeartMate 3 system by conducting IDE trial. Furthermore, the demand for circulatory support devices is increasing in the region due to the rising government initiatives to counterpart the growing incidence of congestive heart disease.

Circulatory support devices market forecast: Competitive landscape and key vendors

The vendors in the circulatory support devices market are trying to expand and increase their market share. Some of these vendors are focusing on conducting investigational studies to gain the regulatory approval for their studies. Vendors of the circulatory support devices are trying to remain competitive in the market by implementing innovative strategies. They are also focusing on improving their technologies by undergoing strategic alliances with other companies. 

Key vendors in the circulatory support devices market

• Medtronic
• St. Jude Medical
• ABIOMED
• ReliantHeart
• Berlin Heart

Circulatory support devices market segmentation by product 

• Ventricular assisted device (VAD)
• Total artificial heart (TAH)
• Extracorporeal membrane oxygenation (ECMO)

The adoption of  ventricular assist device is increasing among various people with chronic heart problems due to the rising incidence of congestive heart failure cases across the world. The demand for VAD will continue to increase throughout the projected period due to the rising prevalence of kidney disorders, diabetes, and the adoption of a sedentary lifestyle. This is encouraging manufacturers to come up with new generation left ventricle assisted devices (LVAD). These devices are less noisy and durable with enhanced power sources. For instance, some of the third-generation LVADs include HeartWare HVAD and HeartMate 3.

Circulatory support devices market segmentation by end-user

• Hospitals
• ASCs

A large number of severe and critically ill patients prefer hospitals over other healthcare centers because they offer many inpatient and outpatient cardiac services. The influx of patients will continue to increase in these hospitals for the next four years because they engage closely with many suppliers, reimbursement authorities, and government organizations. Furthermore, they also procure medical products and consumables in bulk.

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Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global circulatory support devices market?
• What are the key market trends impacting the growth of the global circulatory support devices market?
• What are the challenges to market growth?
• Who are the key vendors in the global circulatory support devices market?
• What are the market opportunities and threats faced by the vendors in the global circulatory support devices market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global circulatory support devices market?

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