The Middle East & Africa Cardiac Assist Devices Market size was estimated at USD 171.10 Million in 2022. It is forecasted to be worth USD 240.31 Million by 2027, growing at a CAGR of 7.03% from 2022 to 2027.
There are patients with a problem of a weak heart that needs help in beating the heart. To avoid heart failure, cardiac assist devices come into action and help beat the heart artificially.
Y-O-Y growth in the prevalence of cardiovascular diseases in MEA is one of the major factors promoting the development of the cardiac assist devices market in this region. The governments operating in MEA are also supporting the market by taking new initiatives to support the patients who can't afford the surgery by introducing reimbursement policies and offering free surgeries. These are increasing awareness among the people and growing demand for cardiac assist devices. The awareness about donating their heart is not popular because of their religious beliefs. This helps the people to turn towards the help of cardiac assist devices. Cardiac assist devices play an essential role in supporting the heart after the transplantation procedure. This is expected to help the market grow in the future.
The elderly population is expected to increase significantly in the Middle East and Africa, supporting the growth of cardiac assist devices in this region. The increasing investments from the key players are helping the research and development department conduct their work exponentially and improve the cardiac assist devices' working by adding new advancements into the equipment. These are creating new opportunities for the cardiac assist devices market. The increase in recent technological advances and treatment methods are factoring in the growth of the MEA cardiac assist devices market.
The key factors that are hampering the market's growth are clotting of the blood and skin infections due to cardiac assist devices. Manufacturing and installing the equipment are very costly, and the working of the equipment is complicated. As the procedure is complex, the skilled people to do the treatment are scarce. Upgrading to the latest equipment is also a complicated procedure. Since it is a complex procedure, it should be done by a skilled person. This is the primary restraint to the growth of the MEA cardiac assist devices market.
This research report on the Middle East and Africa cardiac assist devices market has been segmented and sub-segmented into the following categories:
Geographically, the MEA cardiac assist devices market accounted for a moderate share in the global market in 2020. Still, the scenario is expected to change, and the MEA market is expected to grow at a healthy CAGR during the forecast period. Key factors helping the cardiac assist market in the Middle East and Africa are the new features of their devices and the growing elderly population. The rise in cardiovascular diseases is also one of the factors helping the growth of cardiac assist devices in the Middle East and Africa. Adding new features and the efficiency of their devices are also said to increase.
Surviving heart failure only based on medicines is very hard. Therefore, these devices are generally used to help patients survive heart failure. The decreasing organ donations and advancement of new technology and more efficient treatments are expected to boost the growth of the cardiac assist devices market in the coming years.
The Middle East dominated the MEA Cardiac Assist Devices Market in 2020 owing to the increasing number of heart patients and new technological advancements.
KEY MARKET PLAYERS:
Thoratec Corporation, MAQUET GmbH & Co, Teleflex Incorporated, 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., CorAssist Cardiovascular Ltd., and Evaheart Medical USA, Inc.
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