Magenta Medical has launched a feasibility study into the use of the world’s smallest heart pump for high-risk percutaneous coronary intervention with its new product Elevate, a left ventricular assist device (LVAD).
Due to its reduced size, this product can be applied much differently than traditional LVADs, which are generally large and require open heart surgery to be installed. Conversely, Elevate can be inserted through a small incision in the groin and later expanded in the left ventricle. The benefits of using a minimally invasive method for treating advanced coronary heart disease may provide tight competition in the LVAD segment of the mechanical circulatory support market. The LVAD segment was valued at $1.14bn in 2022 and is anticipated to reach $2.24bn by 2033, according to GlobalData, a leading data and analytics company.
Abbott is the leader in the mechanical circulatory support market, having a portfolio of traditional LVAD devices on the market such as the HeartMate 3, which was launched in 2018. However, Magenta Medical is doing well to provide an alternative method to current mechanical circulatory support operations, as minimally invasive options are often preferred to procedures such as open-heart surgery, which can come along with its own risk of complications.
As the prevalence of heart failure continues to rise while having a limited availability of hearts for transplantation, the demand for reliable ventricular assist devices will grow, giving way to the development of more advanced and less invasive products such as Magenta Medical’s Elevate, and as a result, these devices may gain more attention from the relevant patient population and healthcare providers.
There are clear advantages when it comes to Magenta Medical’s approach to LVAD products such as the small insertion profile and the ease of use created due to its miniature size. While traditional LVADs still dominate the current mechanical circulatory support landscape, in future we may see these types of products become major players in the overall market.