Middle East & Africa Cardiac Assist Devices Market is estimated at USD 159.86 Million in 2019 and is poised to reach USD 224.53 Million by 2024, growing at a CAGR of 7.03% by 2024 during the forecast period 2019-2024.
The rise in the aging population, upsurge in the occurrence of cardiovascular diseases, technological advancements, and the availability of more efficient and minimally invasive devices in the future are driving the cardiac assist devices market.
The devices are normally used in patients suffering from End-Stage Congestive Heart Failure, where the chances of survival through medications alone are minimal. The scarcity of donor organs has steered to the development of these devices. The approval of novel technologically advanced products will further increase the demand for cardiac assist devices in the future. Furthermore, the lack of donor hearts for transplantation is also driving the cardiac assist devices implantations in patients with severe heart complications, thereby increasing the market opportunities.
Existence of alternative treatment like a pacemaker, heart transplantation and the risks associated with device implantation, such as respiratory failure, development of blood clots and device failure restrain the market growth. Adding to these, surgical impediments such as kidney failure, bleeding, Infection and occurrence of stroke are also acting as a barrier in the adoption of such devices.
Middle East & Africa 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).
The Middle-East & Africa region accounts to about 4% of the Global Cardiac Assist Devices Market
Top companies in the Middle East & Africa Cardiac Assist Devices Market:
Thoratec Corporation, MAQUET GmbH & Co, Teleflex Incorporated, Berlin Heart GmbH, Abiomed, Inc., HeartWare International, SynCardia Systems, Inc., Jarvik Heart, Inc., and Terumo Corporation. Braile Biomedica Ltd., CardiacAssist, Inc., CardioBridge GmbH, Carmat SAS, Cleveland Heart, Inc., CorAssist Cardiovascular Ltd., Evaheart Medical USA, Inc., Leviticus Cardio Ltd., MyoCardioCare, Inc are the leading market players with dominance over 60% of the market.
Thoratec Corporation and Berlin Heart are the prominent players in the VAD segment whereas Teleflex and MAQUET are dominant players 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. Research Methodology
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. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Global Cardiac Assist Devices Market, by Type
5.1.1 Ventricular Assist Devices (VAD)
184.108.40.206 Right Ventricular Assist Device (RVAD
220.127.116.11 Left Ventricular Assist Device (LVAD)
18.104.22.168 Bi-Ventricular Assist Device (Bi-VAD
22.214.171.124 External Ventricular Assist Devices
5.1.2 Intra-Aortic Balloon Pumps (IABP)
5.1.3 Total Artificial Heart (TAH)
6. Geographical Analysis
6.2 Middle East
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.Market Leaders' Analysis
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
a) List of Tables
b) List of Figures