New Ventricular Assist Device Launches Will Drive the U.S. Cardiac Assist Device Market to $1.5 Billion by 2022
Heart Failure Remains an Area of Focus for Physicians, Facilities and Manufacturers, According to Findings from Decision Resources Group
BURLINGTON, Mass., May 29, 2014 /PRNewswire/ — Decision Resources Group finds that the U.S. cardiac assist device market has gained traction in recent years with product innovations, particularly among ventricular assist devices (VADs), commonly known in the media as LVADs. There are currently limited treatment options for patients with acute heart failure (AHF) and chronic heart failure (CHF), which has resulted in considerable physician and manufacturer interest in devices that can address these conditions. This is particularly true for CHF, which has very high rates of hospitalization and is therefore very expensive for the health care system. By 2022, the U.S. cardiac assist device market will be valued at approximately $1.5 billion.
Other key findings from the Medtech 360 report entitled US Markets for Cardiac Assist Devices 2014:
-- Slow uptake of durable VADs: Although durable VADs have been available for treating CHF since 2001, uptake of these devices has been considerably slower than originally expected due to factors such as device size, complications, the invasiveness of the procedure and the intrusiveness of the associated medical regimen. -- New durable VAD launches: However, HeartWare made a major step to address some of these concerns with the 2012 launch of its HVAD device, which is significantly smaller than Thoratec's HeartMate II, the only other device available in this market in the United States. Sales of durable VADs therefore increased significantly in 2012 and 2013, and the launch of third-generation devices will cause a similar spike in sales in a few years. By 2022, penetration of durable VADs into the eligible population will have increased to nearly 6 percent compared to 2.5 percent in 2013. The increasing adoption of these high-cost devices will be the major driver of the cardiac assist device market through 2022. -- Artificial hearts: Artificial hearts remain another option for CHF patients, although they have also experienced limited uptake so far for similar reasons as durable VADs. Unlike the durable VAD market, however, there are few new devices in the pipeline, largely because artificial hearts are incredibly complex and difficult to bring to market.
Comments from Decision Resources Group Senior Analyst Sean Messenger:
-- "Although temporary VADs don't receive the same attention as durable VADs from the press or financial analysts, physicians really value these products for the treatment of AHF. New product launches and increasing adoption for high-risk percutaneous coronary intervention patients will drive strong growth in this market through 2022." -- "Growing uptake of temporary VADs will somewhat restrict the prophylactic use of intra-aortic balloon pumps. However, doctors still think these devices are great as a first-line treatment for hemodynamic insufficiency. Even with some recent mediocre trial results, doctors are so comfortable and familiar with these products that they will continue using them regularly."
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