While the number of patients with end-stage heart failure continues to grow each year, leading data and analytics company GlobalData estimates that less than 5% are on a mechanical circulatory support device. Given the invasive nature of implanting units such as left ventricle assist devices (LVADs) through open surgery, only a small percentage of patients are eligible to undergo the intervention.
Sheryl Tang Medical Devices Analyst at GlobalData comments: "A lateral thoracotomy involves an incision made between a person's ribs to access the heart, as opposed to open surgery. This less-invasive approach results in fewer complications, less bleeding, and shortened recovery time, which may result in a rapid expansion of the patient pool as more patients will be able to receive an LVAD."
Abbott recently announced the US Food and Drug Administration (FDA) approval of its HeartMate 3 LVAD via a less-invasive approach than open heart surgery, following a similar approval of Medtronic's HeartWare HVAD pump almost one year ago.
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Tang continues: "GlobalData estimates that the mechanical circulatory support devices market for heart failure will reach $1.5bn by 2028 and the LVAD market will grow at a compound annual growth rate (CAGR) of approximately 6%. While Medtronic had a head start in obtaining FDA approval, Abbott's HeartMate 3 was the market leader in 2019, now that both companies are able to implant the device using a less-invasive approach, the market leader will be determined by which device demonstrates superiority in patient outcomes."
About GlobalData
4,000 of the world's largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData's unique data, expert analysis and innovative solutions, all in one platform. GlobalData's mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors.
