The Asia Pacific market for cardiac assist devices market is estimated at USD 337.06 Million in 2019 and is poised to reach USD 493.19 Million by 2024, growing at a CAGR of 7.91% by 2024 during the forecast period 2019-2024.
These devices are normally employed in patients suffering from End-Stage Congestive Heart Failure, where the odds of survival through medications alone are minimal. Asian countries and regions such as Japan, Korea, China have greater mortality and morbidity from stroke than from coronary heart disease (CHD).
The scarcity of donor organs due to less awareness about organ donation campaign and cultural beliefs has furthered steered to the development of these devices. Various pipeline products are going through clinical trials in order to provide vigorous clinical data on the safety and efficacy of the devices. The approval of novel technologically advanced products will further increase the demand for cardiac assist devices in the future.
Rise in the geriatric population in countries like India and China, upsurge in the occurrence of cardiovascular diseases, technological advancements owing to the increased government expenditure on healthcare and availability of more efficient and minimally invasive devices in the future are driving the cardiac assist devices market.
However, the high cost of CAD devices is way too far from the economic capabilities of consumers in these regions. With the availability of alternate devices like a pacemaker and increasing feasibility of heart transplantation along with the risks associated with the device compatibility and surgical impediments such as kidney failure, bleeding is limiting the Asia-Pacific Cardiac assist devices market growth.
Asia Pacific Cardiac Assist Devices Market segmented and sub-segmented into the following categories:
By Type: Ventricular Assist Devices (VAD) (Right Ventricular Assist Device (RVAD), Left Ventricular Assist Device (LVAD), Bi-Ventricular Assist Device (Bi-VAD) & External Ventricular Assist Devices), Intra-Aortic Balloon Pumps (IABP) & Total Artificial Heart (TAH).
By Country: India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC.
The Asia-Pacific region accounts to about 8% of the Global Cardiac Assist Devices Market
Top companies in the Asia Pacific Cardiac Assist Devices Market:
Thoratec Corporation, Teleflex Incorporated, MAQUET GmbH & Co, Berlin Heart GmbH, Abiomed, Inc., HeartWare International, SynCardia Systems, Inc., Jarvik Heart, Inc., and Terumo Corporation. BiVacor Pty Ltd, Braile Biomedica Ltd., Calon Cardio-Technology Ltd., CardiacAssist, Inc., CardioBridge GmbH, Carmat SAS, Cleveland Heart, Inc., Evaheart Medical USA, Inc., Windmill Cardiovascular Systems, Inc. are the leading market players in the Asia-pacific Cardiac Assist Devices market.
Thoratec Corporation and Berlin Heart lead in the VAD segment whereas Teleflex and MAQUET occupy lead position in the Intra-Aortic Balloon Pumps (IABP) segment. SynCardia is the foremost company to provide the only Food and Drug Administration (FDA) approved Total Artificial Heart (TAH).
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2.2 Analysis Design
2.3 Research Phases
2.3.1 Secondary Research
2.3.2 Primary Research
2.3.3 Econometric Modelling
2.3.4 Expert Validation
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5.1 Global Cardiac Assist Devices Market, by Type
5.1.1 Ventricular Assist Devices (VAD)
188.8.131.52 Right Ventricular Assist Device (RVAD
184.108.40.206 Left Ventricular Assist Device (LVAD)
220.127.116.11 Bi-Ventricular Assist Device (Bi-VAD
18.104.22.168 External Ventricular Assist Devices
5.1.2 Intra-Aortic Balloon Pumps (IABP)
5.1.3 Total Artificial Heart (TAH)
6.5 South Korea
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.1 Thoratec Corporation
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 Berlin Heart GmbH
8.3 Abiomed, Inc
8.4 HeartWare International
8.5 Jarvik Heart, Inc
8.6 Terumo Corporation
8.7 Calon Cardio-Technology Ltd.
8.8 CardiacAssist, Inc.
8.9 CardioBridge GmbH
8.10 Carmat SAS
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.1 Market Outlook
10.2 Investment Opportunities