Global LVAD Market Report: 2013 Edition
LVADs are the mechanical devices which are implanted into the abdomen or chest and attached to a weakened heart to help it pump. LVADs are now sometimes used as an alternative to transplantation. LVAD is suitable for bridge-to-transplant market, which extends the patient’s life until a suitable donor is found, and for destination market, where patients suffer from heart failure but are not eligible for heart transplants, may be due to their age or some other illness that might get aggravated by heart transplantation. Due to increasing demand for both BTT and DT, LVAD market is increasing tremendously. Also, with the rapid technological advancements in this segment, LVADs are expected to become a viable treatment option for heart failure patients in the future.
The report examines the LVAD market on a global scale and its various segments. The use of bridge-to-transplant has been more than destination therapy and is expected to rise in coming years. On the regional basis, the US accounts for the major share of the patients using LVAD due to improved outcomes and lower complication rates of the newer devices in comparison with international patients.
The major factors driving the LVAD market includes growing ageing population, increasing diabetic population, reimbursement trends, expansion in the number of LVAD centers, rising healthcare expenditure and under-penetrated market. 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. But there are certain challenges which the industry is facing as of now which include barrier for DT adoption and safety issues.
The competition in the global LVAD market is intense with few large players viz. Thoratec Corporation, Heartware International Inc. and Abiomed Inc.. The global competitive landscape along with the company profiles of the leading players in the market is 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.