Asia-Pacific Heart Pump Devices Market, By Product (Ventricular Assist Devices, Intra-Aortic Balloon Pumps, Total Artificial Heart), Type (Implantable Heart Pump Devices, Extracorporeal Heart Pump Devices), Therapy (Bridge-To-Candidacy (BTC), Bridge-To-Transplant (BTT), Destination Therapy (DT), Other Therapies), End User (Hospitals, Ambulatory Surgical Centers, Clinics, Research Institutes) – Industry Trends and Forecast to 2030.
Asia-Pacific Heart Pump Devices Market Analysis and Size
The market is being driven forward by an increase in new product developments by industry players, an increase in the elderly population, and an increase in the prevalence of cardiovascular diseases. Heart pump devices are a practical alternative causing the global market to grow, due to a lack of heart donors. The enormous mismatch between donor supply and demand, along with the approval of a number of new and cutting-edge heart pump devices in the forecast period.
Data Bridge Market Research analyses that the heart pump devices market which was USD 3.19 billion in 2022, is expected to reach USD 11.09 billion by 2030, at a CAGR of 16.85% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Asia-Pacific Heart Pump Devices Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Ventricular Assist Devices, Intra-Aortic Balloon Pumps, Total Artificial Heart), Type (Implantable Heart Pump Devices, Extracorporeal Heart Pump Devices), Therapy (Bridge-To-Candidacy (BTC), Bridge-To-Transplant (BTT), Destination Therapy (DT), Other Therapies), End User (Hospitals, Ambulatory Surgical Centers, Clinics, Research Institutes)
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Countries Covered
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China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC)
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Market Players Covered
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Abbott (U.S.), Getinge AB (Sweden), Teleflex Incorporated (U.S.), ABIOMED (U.S.), Berlin Heart (Germany), BiVACOR Inc. (U.S.), Calon Cardio-Technology Ltd (U.K.), CardiacAssist, Inc (U.S.), Jarvik Heart, Inc (U.S.), Medtronic (Ireland), SynCardia Systems, LLC (U.S.), Terumo Corporation (Japan), Fresenius Medical Care AG & Co. KGaA (Germany), CARMAT (France)
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Market Opportunities
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Market Definition
The basic purpose of heart pump systems is to improve heart blood flow. They have different applications. A popular phrase in relation to heart pumps is "ventricular help gadget." For the left ventricular assist device (LVAD), right ventricular assist device (RVAD), and biventricular assist device, a few different types of heart pumps are available (BiVAD). The left ventricular assist device, which enables the left ventricular to pump blood to the aorta, is the most frequently employed of these. The right ventricular assist device only provides brief assistance so that the right ventricle can pump blood into the pulmonary artery. The heart pump device market is growing due to the increasing prevalence of cardiovascular diseases.
Asia-Pacific Heart Pump Devices Market Dynamics
Drivers
- Increasing prevalence of cardiovascular diseases
The main behavioural risk factors for heart disease and stroke include poor eating habits, inactivity, cigarette use, and alcohol abuse. As a result of behavioural risk factors, people may develop high blood pressure, high blood sugar, high blood lipids, overweight, and obesity. In low- and middle-income countries, CVD-related deaths account for at least 75% of all fatalities. People who live in low- and middle-income countries usually lack access to the benefits of primary health care programmes for the early detection and treatment of patients with risk factors for cardiovascular diseases (CVDs). Low- and middle-income nations have limited access to effective and fair health care services that can meet their demands for people with no communicable illnesses and CVDs. As a result, these factors propel the market growth.
- Huge geriatric population
The world's geriatric population is enormous. They account for approximately 16% of the total population. The prevalence of diseases is higher in the elderly, and heart disease is no exception. The large geriatric population and the higher prevalence of heart diseases and heart failures in the elderly are driving the heart pump devices market. The geriatric population is expected to reach 2.1 billion by 2050. As a result, this factor boosts the growth of market.
Opportunities
- Long waiting period for heart transplant surgery
The rising prevalence of CVDs and heart failure in recent years has resulted in a significant increase in the demand for heart transplants. However, there is a scarcity because there are not enough hearts for transplantation to meet the demand. When a patient is not a candidate for a heart transplant, these devices can provide them with the assistance they require while they wait. In this context, the market for heart pump devices is expected to grow during the forecast period due to the significant gap between donor's heart demand and availability.
Restraints/Challenges
- Complications related to LVAD implantations
Ventricular support devices, particularly left ventricular assist devices (LVADs), are frequently used in bridge-to-heart transplantation. Although LVADs are thought to be life-saving devices, they do have several drawbacks. Up to 60% of patients typically experience LVAD-related problems six months after implantation. Nearly 80% of patients had at least one unfavourable incident within two years. Unexpected hospital readmissions are common. Patients are readmitted an average of 2.2 times over the course of their median follow-up period of 11 months.
Non-surgical adverse events associated with LVAD include device thrombosis, bleeding problems, renal impairment, ischemic and hemorrhagic strokes, multi-organ failure, and infections. Approximately 60% of VAD patients develop an infection within 90 days. Infections, thromboembolic events, and bleeding problems are just a few of the common LVAD side effects. These all are the factors which hamper the market growth.
This heart pump devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the heart pump devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In 2021, The FDA granted CARMAT permission to conduct an Early Feasibility Study (EFS) of its TAH in the United States.
- In 2020, The FDA approved the amended labeling for Abbott's Heart Mate 3 Heart Pump for use in juvenile patients with advanced refractory left ventricular heart failure.
Asia-Pacific Heart Pump Devices Market Scope
The heart pump devices market is segmented on the basis of product, type, therapy and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Ventricular Assist Devices
- Left ventricular assist devices
- Right ventricular assist devices
- Bi-ventricular assist devices
- Percutaneous ventricular assist devices
- Intra-Aortic Balloon Pumps
- Total Artificial Heart
Type
- Implantable Heart Pump Devices
- Extracorporeal Heart Pump Devices
Therapy
- Bridge-To-Candidacy (BTC)
- Bridge-To-Transplant (BTT)
- Destination Therapy (DT)
- Other Therapies
End User
- Hospitals
- Ambulatory Surgical Centers
- Clinics, Research Institutes
Heart Pump Devices Market Regional Analysis/Insights
The heart pump devices market is analyzed and market size insights and trends are provided by country, product, type, therapy and end user as referenced above.
The countries covered in the heart pump devices market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
China dominates the heart pump devices market because of the region's well-developed healthcare infrastructure and favourable reimbursement policies.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The heart pump devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for heart pump devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the heart pump devices market. The data is available for historic period 2011-2021.
Competitive Landscape and Heart Pump Devices Market Share Analysis
The heart pump devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to heart pump devices market.
Some of the major players operating in the heart pump devices market are:
- Abbott (U.S.)
- Getinge AB (Sweden)
- Teleflex Incorporated (U.S.)
- ABIOMED (U.S.)
- Berlin Heart (Germany)
- BiVACOR Inc. (U.S.)
- Calon Cardio-Technology Ltd (U.K.)
- CardiacAssist, Inc (U.S.)
- Jarvik Heart, Inc (U.S.)
- Medtronic (Ireland)
- SynCardia Systems, LLC (U.S.)
- Terumo Corporation (Japan)
- Fresenius Medical Care AG & Co. KGaA (Germany)
- CARMAT (France)
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