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Global LVAD Market
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2014

2. Executive Summary
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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.
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.
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.
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.

3. Ventricular assist devices (VAD) are implantable mechanical pumps that support heart failure patients by
normalizing blood flow.
• In 2013, the global LVAD market has grown to US$.... million
showing a rise of ….% in comparison with 2012. The market is
expected to be driven by growing patient population and the
growing demand for LVADs for bridge to transplantation (BTT) and
bridge to recovery therapies
• In terms of volume, the LVAD unit sales in the US is expected to
reach ….. units in 2014. The US LVAD market registered a
significant y-o-y growth of …..% for 2013, recording sales of ….
LVAD units, compared to …… units in 2012.
• The worldwide LVAD market is concentrated mainly in the US
which accounted the major share of …% of the global market in
2013. All the regions worldwide, excluding the US held …% of the
market during the same year.
Global LVAD Market – by Value (2011-2016E)
2012
2013
2014E
2015E
2016E
Global LVAD Market US LVAD Market – by Volume (2010-2014E) – Value Share by Region (2013)
2011
2010 2011 2012 2013 2014E
US$ Million
The US ROW

4. Some of the noteworthy developments of LVAD industry include reimbursement trends and expansion in
the number of LVAD centers.
• The number of people aged 60 years and above is expected to
increase from …. million in 2012 to …. million in 2013, showing a
growth of approximately ….%. The same increased at a CAGR of
…..% for the period spanning 2005-2013.
• As of 2013, the global LVAD market for bridge-to-transplant was
led by Thoratec Corporation with …..% of the share in the whole
market. Heartware held….% of the share.
• In 2013, Thoratec Corporation was the market leader with share
of ….% of the global LVAD market. Heartware, the second largest
company, held …..% share of the global market. All the other
companies together accounted a negligible share of the global
market.
Global LVAD Market Share of Leading Companies (2013)
Ageing Population Worldwide (2007-2013)
2007 2008 2009 2010 2011 2012 2013
Global LVAD Bridge-to-Transplant Market by Company (2013)
Million
Thorectec Heartware
Thoratec Heartware

5. Growing bridge-to-transplant, which help patients to survive until a donor heart becomes available for
transplant, is a major driver for LVAD market.
• During the period spanning from first quarter of 2013 to second
quarter of 2014, a slight variation has been noted in the unit sales
of LVAD. The sales has expanded to US$.... million in first quarter
of 2014 depicting an incline of …..%, compared to US$.... million in
the respective quarter of 2013.
• As of 2013, the global diabetic population increased from …..
million in 2012 to …. million showing an annual rise of ….%. The
same registered a CAGR of ….% for period spanning 2006-2013.
• In 2013, Thoratec Corporation was the leading company which
accounted for a share of ….% in the US LVAD market followed by
Heartware International which accounted for …..% of the US
market.
Global LVAD Market - Quarterly Sales (Q113-Q214)
The US Global Diabetic Population (2007-2013) LVAD Market Share by Company (2013)
2007 2008 2009 2010 2011 2012 2013
Million
Q113 Q213 Q313 Q413 Q114 Q214
US$ Million
Thoratec Heartware Others

6. The growth of respective industry is hindered by the barrier for destination therapy adoption and safety
issues.
2011
Global LVAD Unit Sales (2011-2017F)
2012
2013
2014E
2015E
2016E
2017E
2011
 In volume terms, the global LVAD market stood at around ….. units in 2013 which is anticipated to increase to …. units in 2014 showing a
rise of ….% and is likely to rise to around …. units by the end of 2017. The driving forces for the LVAD market are growing ageing population,
increasing healthcare expenditure, increasing diabetic population, under penetrated market, increasing LVAD centers, reimbursement trends
and growing bridge-to-transplant market. Global LVAD market is expected to grow at a CAGR of ….% for the period spanning 2013-2017.
 The US market for LVADs is driven by patient awareness and increasing disease prevalence. As of 2013, the market was worth US$....
million, representing an annual incline of …..%, compared to US$.... million in the previous fiscal. The US LVAD market grew at a CAGR of
….% for the period 2011-2013. Furthermore, the same is anticipated to touch the value of US$.... million in 2016, up by ….%, from 2013.
 In terms of the number of BTT and DT pumps, Thoratec is likely to lose its share, whereas Heartware is likely to gain share. In 2013,
Thoratec accounted for a share of ….% in BTT pumps which decreased from ….% in 2012 whereas Heartware’s share increased from ….% in
2012 to …..% in 2013. Similarly, in DT pumps, Thoratec’s share decreased from ….% in 2012 to ….% in 2013 and Heartware’s share
increased from …..% in 2012 to ….% in 2013.
Note: Market attractiveness is inverse of penetration. Low penetration means high attractiveness and vice-versa
2012
2013
2014E
2015E
2016E
US$ Million
US LVAD Sales – by Value (2011-2016E)

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