Product Code: IRTNTR31298
About this market
Advances in VAD technology will be a key factor driving the growth of the market. The newer generation VADs use several new technologies such as direct flow measurement and remote parameter monitoring and are capable of a wide range of flow for full and/or partial support. They have significantly enhanced survival rates, better quality of life, and device durability with reduced device-related complication rates. Such technological advances and product launches are expected to increase the demand for VADs, which in turn, drives the market. Technavio' s analysts have predicted that the artificial heart m market will register a CAGR of almost 9% by 2023.
Market Overview
Increasing prevalence of HF and associated risk factors
The prevalence of HF has been steadily increasing in developing as well as developed countries. In Europe, HF affects 20,000 out of one million people in the general population. The prevalence of HF in western countries is estimated to be around 10,000 to 20,000 out of one million individuals, and the average incidence is around 7,500 per million persons each year. Furthermore, the number of hospital admissions due to HF has also been steadily increasing in several countries. This, in turn, will increase the demand for artificial hearts.
High cost of artificial hearts
The high cost of VADs and TAHs is restricting their widespread adoption in developed as well as developing countries. Vendors offering artificial hearts can charge high prices in part due to structural barriers to competition such as the complex and costly regulatory approval process, and patent protection. These barriers hinder the import of artificial hearts that might compete with domestically manufactured devices and reduce the prices. Hence, the high cost of artificial hearts and procedures are hampering the growth of the global artificial heart market.
For the detailed list of factors that will drive and challenge the growth of the artificial heart market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be highly concentrated. The presence of few companies including ReliantHeart Inc. and SynCardia Systems LLC makes competitive environment is quite intense. Factors such as the advances in VAD and increasing prevalence of HF and associated risk factors, will provide considerable growth opportunities to artificial heart manufactures. Abbott, Abiomed Inc., Medtronic, ReliantHeart Inc., and SynCardia Systems LLC are some of the major companies covered in this report.
TABLE OF CONTENTS
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- 2.1 Preface
- 2.2 Preface
- 2.3 Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2018
- Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY PRODUCT
- Market segmentation by product
- Comparison by product
- VAD - Market size and forecast 2018-2023
- TAH - Market size and forecast 2018-2023
- Market opportunity by product
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2018-2023
- Europe - Market size and forecast 2018-2023
- Asia - Market size and forecast 2018-2023
- ROW - Market size and forecast 2018-2023
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Clinical trials for the development of TAHs
- Focus on development of non-blood-contacting VADs
- Strategic acquisitions
PART 12: VENDOR LANDSCAPE
- Overview
- Landscape disruption
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Abbott
- Abiomed Inc.
- Medtronic
- ReliantHeart Inc.
- SynCardia Systems LLC
PART 14: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 15: EXPLORE TECHNAVIO
List of Exhibits
- Exhibit 01: Global medical devices market
- Exhibit 02: Segments of global medical devices market
- Exhibit 03: Market characteristics
- Exhibit 04: Market segments
- Exhibit 05: Market definition - Inclusions and exclusions checklist
- Exhibit 06: Market size 2018
- Exhibit 07: Global market: Size and forecast 2018-2023 ($ millions)
- Exhibit 08: Global market: Year-over-year growth 2019-2023 (%)
- Exhibit 09: Five forces analysis 2018
- Exhibit 10: Five forces analysis 2023
- Exhibit 11: Bargaining power of buyers
- Exhibit 12: Bargaining power of suppliers
- Exhibit 13: Threat of new entrants
- Exhibit 14: Threat of substitutes
- Exhibit 15: Threat of rivalry
- Exhibit 16: Market condition - Five forces 2018
- Exhibit 17: Product - Market share 2018-2023 (%)
- Exhibit 18: Comparison by product
- Exhibit 19: VAD - Market size and forecast 2018-2023 ($ millions)
- Exhibit 20: VAD - Year-over-year growth 2019-2023 (%)
- Exhibit 21: TAH - Market size and forecast 2018-2023 ($ millions)
- Exhibit 22: TAH - Year-over-year growth 2019-2023 (%)
- Exhibit 23: Market opportunity by product
- Exhibit 24: Customer landscape
- Exhibit 25: Market share by geography 2018-2023 (%)
- Exhibit 26: Geographic comparison
- Exhibit 27: North America - Market size and forecast 2018-2023 ($ millions)
- Exhibit 28: North America - Year-over-year growth 2019-2023 (%)
- Exhibit 29: Europe - Market size and forecast 2018-2023 ($ millions)
- Exhibit 30: Europe - Year-over-year growth 2019-2023 (%)
- Exhibit 31: Asia - Market size and forecast 2018-2023 ($ millions)
- Exhibit 32: Asia - Year-over-year growth 2019-2023 (%)
- Exhibit 33: ROW - Market size and forecast 2018-2023 ($ millions)
- Exhibit 34: ROW - Year-over-year growth 2019-2023 (%)
- Exhibit 35: Key leading countries
- Exhibit 36: Market opportunity
- Exhibit 37: Impact of drivers and challenges
- Exhibit 38: Vendor landscape
- Exhibit 39: Landscape disruption
- Exhibit 40: Vendors covered
- Exhibit 41: Vendor classification
- Exhibit 42: Market positioning of vendors
- Exhibit 43: Abbott - Vendor overview
- Exhibit 44: Abbott - Business segments
- Exhibit 45: Abbott - Organizational developments
- Exhibit 46: Abbott - Geographic focus
- Exhibit 47: Abbott - Segment focus
- Exhibit 48: Abbott - Key offerings
- Exhibit 49: Abbott - Key customers
- Exhibit 50: Abiomed Inc. - Vendor overview
- Exhibit 51: Abiomed Inc. - Product segments
- Exhibit 52: Abiomed Inc. - Organizational developments
- Exhibit 53: Abiomed Inc. - Segment focus
- Exhibit 54: Abiomed Inc. - Key offerings
- Exhibit 55: Abiomed Inc. - Key customers
- Exhibit 56: Medtronic - Vendor overview
- Exhibit 57: Medtronic - Business segments
- Exhibit 58: Medtronic - Organizational developments
- Exhibit 59: Medtronic - Geographic focus
- Exhibit 60: Medtronic - Segment focus
- Exhibit 61: Medtronic - Key offerings
- Exhibit 62: Medtronic - Key customers
- Exhibit 63: ReliantHeart Inc. - Vendor overview
- Exhibit 64: ReliantHeart Inc. - Product segments
- Exhibit 65: ReliantHeart Inc. - Organizational developments
- Exhibit 66: ReliantHeart Inc. - Key offerings
- Exhibit 67: ReliantHeart Inc. - Key customers
- Exhibit 68: SynCardia Systems LLC - Vendor overview
- Exhibit 69: SynCardia Systems LLC - Product segments
- Exhibit 70: SynCardia Systems LLC - Organizational developments
- Exhibit 71: SynCardia Systems LLC - Key offerings
- Exhibit 72: SynCardia Systems LLC - Key customers
- Exhibit 73: Validation techniques employed for market sizing
- Exhibit 74: Definition of market positioning of vendors
