North America Cardiac Assist Devices Industry

North America Cardiac Assist Devices Market Analysis

The North America Cardiac Assist Devices Market is expected to register a CAGR of 8.1% during the forecast period.

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

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