Albany, NY -- (SBWIRE) -- 12/18/2014 -- 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.

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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 baby-boomer 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.

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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.

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