Market trends for both the global Ventricular Assist Device (VAD) and Intra-aortic Balloon Pump (IABP) markets indicate growth over the forecast period and into 2027. Overall, the global VAD and IABP markets had a combined valuation of approximately $2 billion in 2020. These markets expect to reach a combined value of about $3.2 billion by 2027.
What are VADs and IABPs?
Ventricular assist devices aid a failing heart by supplementing the pumping function of the heart. Typically, VADs are used in patients experiencing advanced heart failure (HF). VADs can assist either the left ventricle (LVAD), the right ventricle (RVAD), or both simultaneously (BiVAD). VADs consists of two categories: percutaneous ventricular assist devices (pVADs) and implantable ventricular assist devices. pVADs get inserted percutaneously through the patient’s femoral artery and get to the heart with a guidewire. Implantable VADs include a pump located inside the body of the patient and used in bridge-to-recovery (BTR), bridge-to-transplant (BTT), and destination therapy (DT).
Counterpulsation therapy uses intra-aortic balloon pumps, which, during surgery, provide temporary assistance to the heart. Counterpulsation refers to the inflation and deflation of an intra-aortic balloon to synchronize it with the heart heat. An intra-aortic balloon pump system treats high-risk cardiac conditions resulting from ischemic heart disease and failure. IABP products and therapies use used either before or during coronary artery bypass grafting (CABG) or percutaneous coronary interventions (PCI) for hemodynamic support.
Are the Current VAD and IABP Markets Growing?
Overall, market trends indicate that the total VAD market will experience substantial growth over the forecast period, despite COVID-19 headwinds. Increasing unit sales across the sub-segments will be contributing to this growth. Percutaneous VADs accounted for the largest market in 2020 due to a rise in the number of acute heart failure patients in need of the transitional care offered by pVADs. Technological improvements to implantable VADs will also be driving the market growth. Improvements such as making VADs more compact and easier to implant are helping to improve patient outcomes and confidence. Despite the many benefits of VADs, they are highly invasive and can cause an increased risk of clotting which requires the use of anti-coagulants.
On the other hand, the global IABP market consists of disposable devices and capital equipment. Disposable IABP devices include both conventional and fiber-optic IABP catheters, and capital IABP. Market trends indicate a slow increase over the forecast period for the total IABP market. IABP catheters and IABP consoles account for significant market shares and are contributing to the steady growth. An increase in popularity surrounding fiber-optic IABP catheters, which are more technologically advanced, command a higher ASP and are driving the growth. Competition with other product classes remains the largest limiter within this market and as a result, the VAD and IABP markets compete.
VAD and IABP Top Companies
Abiomed and Abbott are the leading competitors within the VAD market. Abiomed specializes in pVADs with its line of Impella™ products. Abiomed’s Impella pVAD portfolio includes the Impella 2.5®, Impella CP®, Impella 5.0®/ LD®, Impella 5.5®, and Impella RP® products. Abbott is the second leading competitor and offers the HeartMate® 2 and HeartMate® 3 VADs in Europe. Medtronic was one of the leading competitors within this market before they discontinued the sales of their HVAD device.
Getinge and Teleflex are the two leading competitors within the IABP market. Getinge offers multiple IABP consoles including its CARDIOSAVE® IABP Hybrid, CARDIOSAVE® IABP Rescue, CS100™ IABP with Intellisence™, and CS300™ IABP. The company also offers disposable devices including the SENSATION® 7Fr and SENSATION® 7.5Fr & 8Fr fiber-optic IABP catheter and conventional IABP catheters.