NeoCardial’s eVAD and Its Market
NeoCardial has developed and is perfecting an effective and efficient extra-vascular ventricular assist device (eVAD) that can be implanted minimally invasively, to avoid blood contact. Avoiding blood contact eliminates clotting risks. The NeoCardial eVAD is not implanted or incised into the heart or circulatory system. It embraces the heart and effectively provides augmented pumping ability to the heart from its periphery. Our eVAD can be used bi-ventricularly to apply, independently, different and modifiable pressures to each ventricle and be used along with implantable cardioverter defibrillators (ICDs) or cardiac resynchronization therapy (CRT), if necessary.
NeoCardial is working to perfect our eVAD controller such that it is miniaturized and battery energized, ultimately, wireless, and if no longer necessary, can be turned off or used intermittently. The eVAD will eliminate the catastrophic risk of loss of power or need for a continuous power supply that current blood contacting devices, such as VADs, have. With an eVAD, the heart keeps intrinsic pumping function. Therefore, electrical outages, catastrophes, and warfare that disrupt power supplies will not affect the eVAD’s ability to sustain cardiac function and patients’ lives.
NeoCardial will present the NeoCardial eVAD as a device that can be used earlier in the heart failure (HF) cycle than existing VADs, thus creating a larger device market. It will also be compatible with cell editing, if that treatment method proves efficacious, ensuring heart function while gene editing treatments restore heart function. HF victims will be freed from immobility and, therefore, retain or restore their physical capabilities, not becoming cardiac cripples, thus supporting that vision of an enjoyable longer lifespan which is accepted globally as health care’s mandate for mankind.
The global VAD market size was valued at $1.8 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 17.6% from 2021 to 2028. Some of the major factors anticipated to drive the demand for VADs include the growing global geriatric population suffering from the rising prevalence of chronic disorders like diabetes, neurological disorders, cardiovascular diseases, hypertension, and stroke. Rapid globalization coupled with unhealthy lifestyles in both developed and developing nations are contributing to the growing risk of chronic ailments. The increasing prevalence of cardiovascular diseases is, of itself, expected to drive the demand for ventricular assist devices. These diseases increase the risk of organ failure, contributing to the deficiency, and, therefore, reduction of organ donors and leading to a delay in organ transplantations. More and more, the demand for VAD’s as an earlier end therapy for heart failure will grow.
Because our eVad device is unique, relatively non-invasive, and critical to the cardiac world, it will not only be compatible with the portfolios of devices manufactured and marketed by the leading medical device companies, it will draw business to those companies. The company owning our eVAD will have an edge over all others in this growing cardiac market.