A new report is projecting that innovative ventricular assist device launches will propel the U.S. cardiac assist device market to $1.5 billion by 2022.
Millennium Research Group, part of Decision Resource Group, published the report which found that ventricular assist devices, which are part of the overall cardiac assist device segment, has found currency in recent years. That's largely because there are limited options of treatment for those suffering from chronic heart failure and acute heart failure.
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Historically, adoption of these durable ventricle assist devices have been slow given how invasive the procedure is, the size of the device being implanted and the burden of the associated medical regimen that a patient needs to be on, the report said.
However, the launch of HVAD by HeartWare addressed some of these concerns and the device is smaller than its competitor device - Thoratec's Heartmate II, the only other device available to patients in the market, the report said.
Another company called Sunshine Heart is making an alternative to the left ventricle assist devices made by HeartWare and Thoratec. That product is in a pivotal clinical trial in the U.S. and is intended for people with late stage heart failure who are able to walk around.
Additionally, artificial hearts is forecast to experience the strongest growth through 2022. Makers of total artificial heart include Syncardia Systems.