LVAD Market by Application and Geography - Forecast and Analysis 2021-2025

Published: Jun 2021 Pages: 120 SKU: IRTNTR70682

The LVAD market has the potential to grow by USD 962.42 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 12.23%.

This LVAD market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by application (destination therapy, BTD therapy, BTT therapy, and BTR therapy) and geography (North America, Europe, Asia, and ROW). The LVAD market report also offers information on several market vendors, including Abbott Laboratories, Abiomed Inc., Berlin Heart GmbH, CorWave SA, Jarvik Heart Inc., LivaNova Plc, Medtronic Plc, Sun Medical Technology Research Institute Co. Ltd., Terumo Corp., and Transonic Systems Inc. among others.

What will the LVAD Market Size be in 2021?

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LVAD Market: Key Drivers and Trends

The increasing prevalence of heart failure is notably driving the LVAD market growth, although factors such as complexities related to regulatory compliance and associated LVADs may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the LVAD market industry get your FREE report sample now.

  • The increasing prevalence and incidence of CVDs among people belonging to all age groups are leading to the rising mortality rate from the disease. Patients who suffer from chronic CVD have a higher risk of developing heart failure.
  • Ventricular assist devices are implantable mechanical pumps that are used in patients with heart failure or those who have a high chance of heart failure due to the weakening of the heart.
  • Ischemic heart disease, coronary artery diseases, and myocardial infarction are the major heart diseases that affect millions of people across the globe. These heart diseases are the underlying cause of heart failure among people globally.
  • The incidence of heart failure has increased across the world due to various factors, such as inactive or sedentary lifestyles, obesity, chronic heart disease, and high blood pressure, among others.
  • The increasing prevalence of heart disease among people, which leads to heart failure, has increased the demand for different ventricular assist devices, including LVADs. This will be a key driver boosting the growth of the LVAD market.
  • Favorable reimbursement policies is another key driver influencing the growth of the LVAD market.
  • Open heart surgery is one of the most expensive medical procedures. The availability of favorable reimbursement policies encourages people to opt for these expensive medical procedures, which, in turn, has a positive effect on the sales of LVADs.
  • Health insurance companies have started offering specialized health insurance policies such as critical illness insurance, insurance for senior citizens, and pre-existing illness plans to lure customers. These specialized health insurance plans enable individuals in the US to undergo expensive medical procedures.
  • In countries such as the Philippines, China, and India, private health insurance companies offer convenient reimbursement policies.
  • New reimbursement systems in emerging markets will encourage people to undergo expensive medical procedures, such as open-heart surgery, which is expected to contribute to the growth of the LVAD market in the region during the forecast period.

This LVAD market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major LVAD Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Abbott Laboratories
  • Abiomed Inc.
  • Berlin Heart GmbH
  • CorWave SA
  • Jarvik Heart Inc.
  • LivaNova Plc
  • Medtronic Plc
  • Sun Medical Technology Research Institute Co. Ltd.
  • Terumo Corp.
  • Transonic Systems Inc.

 

The LVAD market is concentrated and the vendors are deploying growth strategies such as focusing on mergers and acquisitions (M&A) to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the LVAD market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for LVAD Market?

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46% of the market’s growth will originate from North America during the forecast period. The US is the key market for LVAD market in North America. Market growth in this region will be slower than the growth of the market in Europe and Asia. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Application Segments in the LVAD Market?

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Destination therapy usually refers to the use of an LVAD or mechanical circulatory support to keep the existing heart going, not just until a heart transplant can be done but for the rest of the patient's life. It is, therefore, a course of treatment for patients with severe heart failure in whom a heart transplant is nearly impossible. Destination therapy provides the possibility of extending the lives of such patients and improving their quality of life. 

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the LVAD market size.

 

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What are the Key Factors Covered in this LVAD Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive LVAD market growth during the next five years
  • Precise estimation of the LVAD market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the LVAD market industry across North America, Europe, Asia, and ROW
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of LVAD market vendors

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LVAD Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 12%

Market growth 2021-2025

$ 962.42 million

Market structure

Concentrated

YoY growth (%)

5.51

Regional analysis

North America, Europe, Asia, and ROW

Performing market contribution

North America at 46%

Key consumer countries

US, Germany, France, UK, and Japan

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Abbott Laboratories, Abiomed Inc., Berlin Heart GmbH, CorWave SA, Jarvik Heart Inc., LivaNova Plc, Medtronic Plc, Sun Medical Technology Research Institute Co. Ltd., Terumo Corp., and Transonic Systems Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Executive Summary

    Market Landscape

    • Market ecosystem
    • Market characteristics
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Application

    • Market segments
    • Comparison by Application
    • Destination therapy - Market size and forecast 2020-2025
    • BTD therapy - Market size and forecast 2020-2025
    • BTT therapy - Market size and forecast 2020-2025
    • BTR therapy - Market size and forecast 2020-2025
    • Market opportunity by Application

    Geographic Landscape

    • Geographic segmentation
    • Geographic comparison
    • North America - Market size and forecast 2020-2025
    • Europe - Market size and forecast 2020-2025
    • Asia - Market size and forecast 2020-2025
    • ROW - Market size and forecast 2020-2025
    • Key leading countries
    • Market opportunity by geography
    • Market drivers
    • Market challenges
    • Market trends

    Vendor Landscape

    • Overview
    • Vendor landscape
    • Landscape disruption

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • Abbott Laboratories
    • Abiomed Inc.
    • Berlin Heart GmbH
    • CorWave SA
    • Jarvik Heart Inc.
    • LivaNova Plc
    • Medtronic Plc
    • Sun Medical Technology Research Institute Co. Ltd.
    • Terumo Corp.
    • Transonic Systems Inc.

    Appendix

    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • List of abbreviations

    Research Framework

    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

    INFORMATION SOURCES

    Primary sources

    • Manufacturers and suppliers
    • Channel partners
    • Industry experts
    • Strategic decision makers

    Secondary sources

    • Industry journals and periodicals
    • Government data
    • Financial reports of key industry players
    • Historical data
    • Press releases

    DATA ANALYSIS

    Data Synthesis

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts

    REPORT WRITING

    Qualitative

    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape

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    Key Questions Answered

    • What are the key global market and the regional market share?
    • What are the revenue-generating key market segments?
    • What are the key factors driving and challenging this market’s growth?
    • Who are the key market vendors and their growth strategies?
    • What are the latest trends influencing the growth of this market?
    • What are the variables influencing the market growth in the primary regions?
    • What are the factors influencing the growth of the parent market?

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    • Data on revenue-generating market segments
    • Details on the market shares of various regions
    • Five-force market analysis