The Size of the APAC Cardiac Assist Devices Market was valued at USD 363.72 Million in 2023 and it is predicted to be worth USD 532.20 Million by 2028, growing at a CAGR of 7.91% from 2023 to 2028.
The primary function of cardiac assist technology is to help the patients who are suffering from a weak heart, in which cases the heart's pumping is hard for them. However, with increasing problems with heart failures, the government has taken some new initiatives like introducing policies like reimbursement.
The government is also helping by spreading awareness in people by conducting camps about heart failures and the advantages of cardiac assist devices. The attention in people to have a healthy heart is driving the market. In addition, the use of cardiovascular devices increases with the increase in the elderly population, driving the growth of the APAC cardiac assist devices market.
The elderly population is also considering the cardiac assist devices with growing awareness. These are increasing the demand for cardiac assist devices. In addition, advanced technology is making cardiac assist devices easy. When a heart transplantation surgery is completed, the heart requires some time to stabilize and work efficiently. Until then, cardiac assist devices are used. These are the main reason behind the increase in demand for the APAC Cardiac Assist Market.
With growing investments from key players and support from the government, the research and development department has introduced new technological advancements to cardiac assist devices, making the use of cardiac assist devices easy and new methods in the treatment procedures. These helped with the growth of the APAC Cardiac Assist Devices Market significantly.
The main drawbacks for the growth of the APAC cardiac assist devices market are problems like blood clots and bleeding procedures. Furthermore, the cost of the equipment is also hampering the development of the market. In addition, the number of qualified people to handle the equipment to upgrade and work on the degrades is decreasing. These are the significant factors that are hindering the growth of the market.
This research report on the Asia Pacific Cardiac Assist Devices Market segmented and sub-segmented into the following categories:
The cardiac assist devices are majorly used in heart failure problems or cases of transplantation for stability. The countries like Japan's cardiac assist devices market and South Korea's cardiac assist devices market are expected to have a higher mortality rate due to heart failures. This is because taking care of heart failure only with medicines is very low.
Organ donations are decreasing because of less awareness in people, and some religious beliefs increase the demand for cardiac assist devices. However, advanced technologies are helping in taking the data about the working potential of the heart and controlling the assistance from the device.
The China cardiac assist devices market is expected to grow significantly due to the increase in the elderly population is at 255 million by 2023. Therefore, it is causing a significant amount of growth in the market. In addition, the government is taking new initiatives and helping with the awareness among people about cardiovascular diseases and the uses of cardiac assist devices, increasing the number of players in the market.
KEY MARKET PLAYERS
Companies leading in the Asia Pacific cardiac assist devices market profiled in the report are Thoratec Corporation, MAQUET GmbH & Co, Teleflex Incorporated, Berlin Heart GmbH, Braile Biomedica Ltd., Calon Cardio-Technology Ltd., CardiacAssist, Inc., CardioBridge GmbH, Carmat SAS, Cleveland Heart, Inc, HeartWare International, SynCardia Systems, Inc, Jarvik Heart, Inc., and Terumo Corporation. BiVacor Pty Ltd, Evaheart Medical USA, Inc., Leviticus Cardio Ltd, CorAssist Cardiovascular Ltd, Abiomed, Inc.,
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