The North America market for cardiac assist devices is estimated at $462.7 Million in 2015 and is poised to reach $715.8 Million by 2020, growing at a CAGR of 9.12%. These devices are normally used in patients suffering from End-Stage Congestive Heart Failure, where the chances of survival are minimal. The scarcity of donor organs has steered to the development of these devices. Various pipeline products are going through clinical trials in order to provide vigorous clinical data on the safety and efficacy of the devices. The unveiling and approval of novel technologically advanced products will further increase the demand for cardiac assist devices in the future.
Rise in aging population, upsurge in occurrence of cardiovascular diseases, technological advancements and availability of more efficient and minimally invasive devices in future are driving the cardiac assist devices market. Furthermore, lack of donor hearts for transplantation is also driving the cardiac assist devices implantations in patients with severe heart complications, thereby increasing the market opportunities.
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Availability of alternate solutions like pacemaker, heart transplantation along with the risks associated with the device implantation and surgical impediments such as kidney failure, bleeding, Infection and occurrence of stroke are inhibiting the adoption of Cardiovascular Assist Devices.
The North 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. In addition, on the basis of geography, the North America market is analysed under USA and Canada regions. The North America region accounts to about 8% of the Global cardiac assist devices market and is estimated to have the highest growth rate in the forecast period.
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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. SynCardia is the foremost company to provide the only Food and Drug Administration (FDA) approved Total Artificial Heart (TAH).
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Some other potential players in the market include Jarvik Heart, Inc. and Terumo Corporation. BiVacor Pty Ltd, Braile Biomedica Ltd., Calon Cardio-Technology Ltd., CardiacAssist, Inc., CardioBridge GmbH, Carmat SAS, Cleveland Heart, Inc., CorAssist Cardiovascular Ltd., Evaheart Medical USA, Inc., Leviticus Cardio Ltd.
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