Cardiac Assist Devices Market by Type and by Region – Industry Analysis, Size, Share, Growth, Trends, and Forecast (2016 – 2021).
The Latin America cardiac assist devices market is estimated at $105.76 Million in 2015 and is poised to reach $151.5 Million by 2020, growing at a CAGR of 7.45%. These devices are normally employed in patients suffering from End-Stage Congestive Heart Failure, where the odds of survival through medications alone is minimal.
South American countries have greater mortality and morbidity from stroke than from coronary heart disease (CHD). The scarcity of donor organs due to less awareness about organ donation has furthered steered to the development of CAD Market.
Various pipeline products are going through clinical trials in order to provide vigorous clinical data on the safety and efficacy of the devices. The approval of novel technologically advanced products will further increase the demand for cardiac assist devices in the future.
To meet the increasing demand for cardiac therapies in the Latin American countries, the Cardiac Assist Devices (CAD) are used.These devices are used as a Bridge-To-Transplantation (BTT), Bridge-To-Recovery (BTR) or Destination Therapy (DT), depending on the requirement of the patient and the severity of the disease. Upsurge in the aging population in along with scarcity of donor organs have also added to the growing need for development of these devices.
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Existence of alternative treatment like pacemaker, heart transplantation and. and the risks associated with the device implantation, such as respiratory failure, development of blood clots and device failure restrain the market growth.
Adding to these, surgical impediments such as kidney failure, bleeding, Infection and occurrence of stroke are also acting as a barrier in the adoption of such devices.
The Latin America cardiac assist devices market is segmented on the basis of type into Ventricular Assist Devices (VAD), Intra-Aortic Balloon Pumps (IABP) & Total Artificial Heart (TAH). Further the Ventricular Assist Devices is divided into Right Ventricular Assist Device (RVAD), Left Ventricular Assist Device (LVAD), Bi-Ventricular Assist Device (Bi-VAD) & External Ventricular Assist Devices.
Key points from TOC:
- Research Methodology
- Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
- Market Segmentation
- Strategic Analysis
- Market Leaders' Analysis
- Competitive Landscape
- Market Outlook and Investment Opportunities
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Scope of the report:
- Global, regional and country-level analysisand forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysisin terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC)in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
- Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysisfor analysing the level of competition and business strategy development
- A comprehensive list of key market playersalong with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysislisting out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
- Expertly devised analyst overview along with Investment opportunitiesto provide both individuals and organizations a strong financial foothold in the market
In addition, On the basis of geography, the Latin America Market is analysed under Argentina, Brazil, Mexico and Rest of Latin America regions. The Latin America region accounts to about 6.5% of the Global cardiac assist devices market.
Thoratec Corporation, MAQUET GmbH & Co, Teleflex Incorporated, Berlin Heart GmbH, Abiomed, Inc., HeartWare International, SynCardia Systems, Inc. are the leading market players with dominance over 60% of the market.
Thoratec Corporation and Berlin Heart are the prominent players in the VAD segment whereas Teleflex and MAQUET are dominant players in the Intra-Aortic Balloon Pumps (IABP) segment.
Some other potential players in the market include Jarvik Heart, Inc. and Terumo Corporation. BiVacor Pty Ltd, CardioBridge GmbH, Cleveland Heart, Inc., MyoCardioCare, Inc.,
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