Global Mechanical Circulatory Devices Market Size By Product Type(Ventricular Assist Devices, Extracorporeal Membrane Oxygenation ), By End-User(Hospitals, Cardiology Centres), By Geographic Scope And Forecast

Mechanical Circulatory Devices Market Size And Forecast

Mechanical Circulatory Devices Market size was valued at USD 2,350.06 Million in 2021 and is projected to reach USD 4,303.18 Million by 2030, growing at a CAGR of 7.17% from 2023 to 2030. 

The market growth can be attributed to rising prevalence of cardiovascular diseases along with growing need for heart transplants among individuals across the globe. The Global Mechanical Circulatory Devices Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Mechanical Circulatory Devices Market Definition

Mechanical circulatory support devices are generally referred to artificial devices that can perform various functions of the heart. These devices vary significantly in terms of indication and design and are particularly used to provide temporary or full support for a heart that is unable to function adequately. IABP, extracorporeal membrane oxygenation (ECMO), Left Ventricular Assist Device (LVAD), and right ventricular assist device (RVAD). Those used for full support include intra-aortic balloon pump (IABP), biventricular assist device (BiVAD) and total artificial heart (TAH) are some mechanical support devices used for temporary use.

Mechanical circulatory assist devices have substantially evolved during the last few years. It is currently useful and real therapeutic method, not only for the cardiogenic shock treatment, but also for treatment of the chronic heart failure, as well as preventively in higher risk cases of cardiac surgery and percutaneous coronary intervention. The main objective of a mechanical circulatory support device is to unload the deteriorating heart and assist in maintaining vital organ perfusion and forward cardiac output.

Global Mechanical Circulatory Devices Market Overview

The market growth can be attributed to rising prevalence of cardiovascular diseases along with growing need for heart transplants among individuals across the globe. Increasing research and development related to technological advances in ventricular assist devices (VAD), including continuous flow technology, have assisted in improving efficiency; and as well as overall patient experience is contributing to the growth of the mechanical circulatory support devices market.

In terms of product type, Ventricular Assist Devices accounted for the largest market share of 52.69% in 2021. Ventricular assist device has emerged as one of the most durable and safe therapy for end-stage heart failure patients with >22 000 implantations in the U.S. as of 2020. MCS with ventricular assist device remains a highly invasive intervention that necessitates a careful, multidisciplinary evaluation of patients’ candidature before implantation.

However, several rare but serious risks are associated to VAD implant which include the blood clots formation in the device, thereby disrupting the blood flow ultimately leading to a stroke or heart attack. Furthermore, bleeding may also occur, as in any open-heart surgery and as a result of the blood-thinning medications needed to reduce the risk of blood clots. This is anticipated to restrain the growth of mechanical circulatory support devices demand over the period.

Over the years, several product recalls have been witnessed due to product failures or incompatibility. Most of them were classified under class I recall which indicates critical issue leading to harmful effects or death in the patients. This is one of the major reasons which is currently hampering the market growth. Key players in the market such as Medtronic and Abbot are among the several companies which have recalled their products due to function failures. Hospitals are the largest user segments of MCS devices owing to large number of patient inputs and high demand. Mechanical circulatory support devices (MCSDs) are used in hospitals for patients with severe heart failure who require temporary or permanent assistance in maintaining adequate blood flow and organ perfusion. There are several types of MCSDs, including ventricular assist devices (VADs), total artificial hearts (TAHs), and ECMO.

Global Mechanical Circulatory Devices MarketSegmentation Analysis

The Global Mechanical Circulatory Devices Market is segmented on the basis of Product Type, End-User and Geography.

Mechanical Circulatory Devices Market by Product Type

• Ventricular Assist Deviceso Left Ventricular Assist Devices (LVAD)o Biventricular Ventricular Assist Devices (BIVAD)o Right Ventricular Assist Devices (RVAD)• Extracorporeal Membrane Oxygenationo Respiratoryo Cardiaco ECPR• Intra-Aortic Balloon Pumps• Artificial Heart

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VAD technology has improved significantly in recent years, with smaller, more durable devices that are capable of supporting the heart for longer periods of time. This has led to better patient outcomes and increased confidence in the use of VADs. Reimbursement policies for VADs have improved in recent years, making these devices more accessible to patients who need them. As more healthcare providers become aware of VADs as a viable treatment option for heart failure, there has been a growing interest and adoption of these devices. Destination therapy refers to the use of VADs as a long-term treatment option for patients who are not eligible for heart transplantation. As more patients seek alternatives to transplantation, the destination therapy market for VADs is expected to continue to grow.

Mechanical Circulatory Devices Market by End-User

• Hospitals• Cardiology Centres• Ambulatory Surgical Centres• Specialty Centres

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The adoption of mechanical circulatory support devices (MCSDs) in hospitals has been growing steadily in recent years, driven by several factors such as advancements in device technology, favorable reimbursement policies, and increasing awareness among healthcare providers and patients. As more healthcare providers become aware of MCSDs as a treatment option, there has been a growing interest and adoption of these devices in hospitals. Additionally, manufacturers and industry organizations have been providing education and training programs to healthcare providers to increase their familiarity with MCSDs.

Mechanical Circulatory Devices Market by Geography

• Asia-Pacific• North America• Europe• Latin America• Middle East and Africa

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As the baby boomer generation ages, the number of people with heart failure is expected to increase. This is driving demand for mechanical circulatory support devices as a treatment option. The development of smaller, more portable devices, and devices equipped with sensors and wireless connectivity have made mechanical circulatory support devices a more viable treatment option for a wider range of patients. Reimbursement policies for mechanical circulatory support devices have improved in recent years, making these devices more accessible to patients.Overall, the adoption of mechanical circulatory support devices in North America is expected to continue to grow in the coming years, driven by these factors and improvements in device technology and patient outcomes.

Key Players

The major players in the market are Abbott Laboratories, SynCardia Systems, Terumo Cardiovascular Systems Corporation, Medtronic plc, Teleflex Incorporated, CorWave SA, Nipro Medical Corporation, Berlin Heart GmbH, Jarvik Heart, Inc., Abiomed Inc., Evaheart Inc., Microport Scientific Corporation, NovaPump GmbH, Getinge AB, Origen Biomedical, LivaNova Inc.

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