North America Cardiac Assist Devices Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 8.10 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
North America Cardiac Assist Devices Market Analysis
Continuous rapid advancements in the assist devices technologies and the novel applications of the existing treatments have led to an increase in the demand for cardiac assist devices. Other factors responsible for the market growth are lack of donor's hearts for transplantation, aging population, and increasing heart diseases. These factors are leading to an increase in the usage of cardiac assist devices implantations in patients with severe heart complications. As per the report from the American Heart Association on heart disease and stroke, in 2017, approximately 800,000 deaths were caused due to cardiovascular diseases. However, the availability of alternative treatments, like pacemakers, and the risk associated with device implantation are likely to impede the market for cardiac assist devices.
North America Cardiac Assist Devices Market Trends
This section covers the major market trends shaping the North America Cardiac Assist Devices Market according to our research experts:
Total Artificial Hearts Segment Dominates the North American Cardiac Assist Devices Market
Heart transplantation is the most effective treatment for end-stage heart failures. Unfortunately, the supply of donor's hearts does not meet the increasing demand. Many patients die while they are placed on the waiting list. Though there has been an increase in the demand for donor's hearts, the number of donor organs has been less. This has resulted in an exponential rise in the demand for artificial heart in the market. The total artificial heart is considered to be one of the best long-term solutions for patients suffering from advanced heart failure issues The various extracorporeal and ventricular assist devices can only be considered as temporary solutions. Some of the companies offering cardiac assist devices are Abbott Laboratories and Syncardia.
North America Cardiac Assist Devices Industry Overview
The North American cardiac assist devices market is highly fragmented in nature, with the presence of many prominent players. Players are focusing on major collaborations, mergers, and acquisitions, in order to enhance their market share. Market players are also focusing on R&D to improve product quality and minimize manufacturing costs. Furthermore, they are developing safer devices to improve patient compliance and safety. Some of the top market players are Abiomed Inc., Abbott Laboratories, Medtronic, Syncardia, and Berlin Heart Gmbh, among others.
North America Cardiac Assist Devices Market Leaders
-
Abiomed Inc.
-
Abbott Laboratories
-
Medtronic
-
(LivaNova PLC) CardiacAssist Inc.
-
SynCardia Systems LLC
*Disclaimer: Major Players sorted in no particular order
North America Cardiac Assist Devices Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
-
4.2 Market Drivers
- 4.2.1 Increasing Prevalence of Heart Diseases
- 4.2.2 Advancements in Technology
- 4.2.3 Shortage of Heart Donors in Transplantation
-
4.3 Market Restraints
- 4.3.1 Risk Associated with Device Implantation
-
4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
-
5.1 By Product
- 5.1.1 Intra-aortic Balloon Pumps
- 5.1.2 Total Artificial Heart
- 5.1.3 Ventricular Assist Devices
- 5.1.3.1 Left Ventricular Assist Device
- 5.1.3.2 Right Ventricular Assist Device
-
5.2 Geography
- 5.2.1 North America
- 5.2.1.1 United States
- 5.2.1.2 Canada
- 5.2.1.3 Mexico
6. COMPETITIVE LANDSCAPE
-
6.1 Company Profiles
- 6.1.1 Abiomed Inc.
- 6.1.2 Abbott Laboratories
- 6.1.3 Bioheart Inc.
- 6.1.4 Cardiac Assist Inc.
- 6.1.5 Calon Cardio-Technology Ltd
- 6.1.6 LivaNova PLC (Cardiac Assist Inc.)
- 6.1.7 Cardiokinetix Inc.
- 6.1.8 Medtronic Plc
- 6.1.9 SynCardia Systems LLC
- 6.1.10 ReliantHeart
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
North America Cardiac Assist Devices Industry Segmentation
As per the scope of the report, assist devices are defined as the type of mechanical pumps that work along with the heart, to improve the pumping efficiency and maintain optimum blood flow throughout the body. Cardiac-assist devices are used to treat end-stage heart failure and are determined by the needs of the individual. They are of three types, namely, ventricular assist devices, intra-aortic balloon pumps (IABPs), and the total artificial heart.
| By Product | Intra-aortic Balloon Pumps | |
| Total Artificial Heart | ||
| Ventricular Assist Devices | Left Ventricular Assist Device | |
| Right Ventricular Assist Device | ||
| Geography | North America | United States |
| Canada | ||
| Mexico |
North America Cardiac Assist Devices Market Research FAQs
What is the current North America Cardiac Assist Devices Market size?
The North America Cardiac Assist Devices Market is projected to register a CAGR of 8.10% during the forecast period (2024-2029)
Who are the key players in North America Cardiac Assist Devices Market?
Abiomed Inc., Abbott Laboratories, Medtronic, (LivaNova PLC) CardiacAssist Inc. and SynCardia Systems LLC are the major companies operating in the North America Cardiac Assist Devices Market.
What years does this North America Cardiac Assist Devices Market cover?
The report covers the North America Cardiac Assist Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Cardiac Assist Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America Cardiac Assist Devices Industry Report
Statistics for the 2024 North America Cardiac Assist Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Cardiac Assist Devices analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
