Cardiac Assist Devices Market Continues to Expand with SynCardia Systems, LLC receiving the U.S. FDA approval for its 50cc temporary Total Artificial Heart System, aiding heart transplantation

 

Cardiac Assist Devices Market

A ventricular aid device, also called a ventricular assist pump, is an electro-mechanical device designed to help cardiac pumping, which in turn is intended to help maintain a constant heartbeat rhythm. When a ventricular aid device is needed for immediate medical attention, it is attached to the heart via the cardio-respiratory pathways to provide stimulation that helps maintain the heart rhythm. This is typically done with a latex hose or other similar device that provides a steady supply of suction to help keep the heart from stopping so it can pump blood.

Increasing prevalence of cardiovascular diseases is expected to drive growth of the global cardiacassist devices market. According to the American Heart Association (AMA), in 2016, cardiovascular disease accounted for 17.6 million deaths across the globe. According to the same source, that number is expected to reach 23.6 million by 2030. Furthermore, according to the World Health Organization (WHO), around 17.9 million people die each year from cardiovascular disease. Cardiovascular disease remains the leading cause of death across the globe. Cardiac assist devices such as pacemakers, implantable cardioverter-defibrillator (ICD), and cardiac loop recorders improve the function of kidneys, liver, brain, and other organs by increasing blood flow to the body. Hence, such factors are expected to drive growth of the global cardiac assist devices market. Furthermore, growing geriatric population is expected to propel the global cardiac assist devices market growth in the near future. According to the World Health Organization (WHO), the global geriatric population is expected to account for around 22% of the global population by 2050. 

High cost of these devices combined with stringent regulatory compliances and risk associated with implantation is expected to hinder the global cardiac assist devices market. However, significant potential in emerging economies can provide lucrative growth opportunities for market players. Among regions, North America is expected to witness significant growth in the global cardiac assist devices market. This is owing to technological advancements in devices and rising cases of heart diseases. According to the Centers for Disease Control and Prevention (CDC), around 647,000 people in the U.S. die due to heart disease each year. Furthermore, Asia Pacific is expected to register a robust growth rate, owing to improving healthcare infrastructure and favorable government initiatives to boost the healthcare sector in the region.

Major companies involved in the global cardiac assist devices market are Abbott Laboratories, Teleflex Incorporated, Abiomed Inc., SynCardia Systems, LLC, Berlin Heart GmbH Medtronic plc, BiVACOR Inc., Jarvik Heart Inc., Braile Biomedica Ltd, and Getinge AB.

For instance, in March 2020, SynCardia Systems, LLC received the U.S. Food and Drug Administration (FDA) approval for a 50cc temporary Total Artificial Heart System (50cc TAH-t) as a bridge to heart transplant for patients who are at imminent risk for death from biventricular failure.  

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