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Global LVAD Market ----------------------------------------------------2014
View Report Details Executive Summary LVAD, Left Ventricular Assist Device, is a mechanical device that circulates blood throughout the body when the heart is too weak to pump blood on its own. They are used in the bridge-to-transplantation (BTT), destination therapy (DT) and bridge to recovery. With the existing conventional therapies and other invasive therapies that provide only symptomatic benefits to patients, LVAD is a key potential area of focus for researchers and various manufacturers at present. The cost-effectiveness and increased insurance reimbursement conditions are likely to increase the demand for LVADs in the future. The LVAD companies compete with each other on the basis of substantially greater or broader financial base of the company, product development, sales and marketing resources and experience. Products in this market mainly compete on the basis of product safety, compliance with the prevailing regulations as well as efficiency as a treatment for congestive heart failure as compared to other devices and other treatments. Furthermore, the high prevalence of heart failure coupled with the limited availability of heart donors, aging babyboomer population, and new and improved technologies is likely to contribute to the market growth. The key factors driving growth of the global LVAD industry include rising diabetic population, increasingly ageing population with heart disorder and escalating healthcare expenditure. Also, growing bridge-to-transplant, which help patients to survive until a donor heart becomes available for transplant, is a major driver for LVAD market. Some of the noteworthy developments of this industry include reimbursement trends and expansion in the number of LVAD centers. However, the growth of respective industry is hindered by the barrier for destination therapy adoption and safety issues. This report offers a comprehensive analysis of the worldwide LVAD market, along with an in-depth study of the US market. The competition in the respective market is intense with two large players viz Thoratec Corporation and Heartware Holdings, among others. The competitive landscape of the global LVAD markets, along with the company profiles of the leading players are also discussed in detail. By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
Ventricular assist devices (VAD) are implantable mechanical pumps that support heart failure patients by normalizing blood flow.
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Global LVAD Market – by Value (2011-2016E)
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In 2013, the global LVAD market has grown to US$.... million showing a rise of ….% in comparison with 2012. The market is expected to be driven by growing patient population and the growing demand for LVADs for bridge to transplantation (BTT) and bridge to recovery therapies
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In terms of volume, the LVAD unit sales in the US is expected to reach ….. units in 2014. The US LVAD market registered a significant y-o-y growth of …..% for 2013, recording sales of …. LVAD units, compared to …… units in 2012.
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The worldwide LVAD market is concentrated mainly in the US which accounted the major share of …% of the global market in 2013. All the regions worldwide, excluding the US held …% of the market during the same year.
Global LVAD Market – Value Share by Region (2013)
US LVAD Market – by Volume (2010-2014E)
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Some of the noteworthy developments of LVAD industry include reimbursement trends and expansion in the number of LVAD centers.
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Ageing Population Worldwide (2007-2013)
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Global LVAD Bridge-to-Transplant Market by Company (2013)
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The number of people aged 60 years and above is expected to increase from …. million in 2012 to …. million in 2013, showing a growth of approximately ….%. The same increased at a CAGR of …..% for the period spanning 2005-2013.
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As of 2013, the global LVAD market for bridge-to-transplant was led by Thoratec Corporation with …..% of the share in the whole market. Heartware held….% of the share.
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In 2013, Thoratec Corporation was the market leader with share of ….% of the global LVAD market. Heartware, the second largest company, held …..% share of the global market. All the other companies together accounted a negligible share of the global market.
Global LVAD Market Share of Leading Companies (2013)
Thorectec
Thoratec
Heartware
Heartware
Growing bridge-to-transplant, which help patients to survive until a donor heart becomes available for transplant, is a major driver for LVAD market.
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Global LVAD Market - Quarterly Sales (Q113-Q214)
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Global Diabetic Population (2007-2013)
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During the period spanning from first quarter of 2013 to second quarter of 2014, a slight variation has been noted in the unit sales of LVAD. The sales has expanded to US$.... million in first quarter of 2014 depicting an incline of …..%, compared to US$.... million in the respective quarter of 2013.
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As of 2013, the global diabetic population increased from ….. million in 2012 to …. million showing an annual rise of ….%. The same registered a CAGR of ….% for period spanning 2006-2013.
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In 2013, Thoratec Corporation was the leading company which accounted for a share of ….% in the US LVAD market followed by Heartware International which accounted for …..% of the US market.
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The US LVAD Market Share by Company (2013)
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Thoratec
Heartware
Others
The growth of respective industry is hindered by the barrier for destination therapy adoption and safety issues. US LVAD Sales – by Value (2011-2016E)
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Global LVAD Unit Sales (2011-2017F)
In volume terms, the global LVAD market stood at around ….. units in 2013 which is anticipated to increase to …. units in 2014 showing a rise of ….% and is likely to rise to around …. units by the end of 2017. The driving forces for the LVAD market are growing ageing population, increasing healthcare expenditure, increasing diabetic population, under penetrated market, increasing LVAD centers, reimbursement trends and growing bridge-to-transplant market. Global LVAD market is expected to grow at a CAGR of ….% for the period spanning 2013-2017.
The US market for LVADs is driven by patient awareness and increasing disease prevalence. As of 2013, the market was worth US$.... million, representing an annual incline of …..%, compared to US$.... million in the previous fiscal. The US LVAD market grew at a CAGR of ….% for the period 2011-2013. Furthermore, the same is anticipated to touch the value of US$.... million in 2016, up by ….%, from 2013.
In terms of the number of BTT and DT pumps, Thoratec is likely to lose its share, whereas Heartware is likely to gain share. In 2013, Thoratec accounted for a share of ….% in BTT pumps which decreased from ….% in 2012 whereas Heartware’s share increased from …. % in 2012 to …..% in 2013. Similarly, in DT pumps, Thoratec’s share decreased from ….% in 2012 to ….% in 2013 and Heartware’s share increased from …..% in 2012 to ….% in 2013.
Note: Market attractiveness is inverse of penetration. Low penetration means high attractiveness and vice-versa
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