At 10.7% CAGR, Asia Pacific Heart Transplant Market is Projected to be Worth US$ 7,739.74 Million by 2030, says Business Market Insights

According to Business Market Insights research, the Asia Pacific heart transplant market was valued at US$ 3,425.68 million in 2022 and is expected to reach US$ 7,739.74 million by 2030, registering a CAGR of 10.7% from 2022 to 2030. Improving healthcare capabilities and growing patient pool in emerging nations and growing geriatric population are among the critical factors attributed to the Asia Pacific heart transplant market expansion.

Emerging countries such as India, China, Argentina, Brazil, the UAE, and South Africa are expected to offer significant growth opportunities for heart transplant market players mainly due to flourishing R&D landscape, rising patient population, growing CVD awareness, improving healthcare infrastructure, burgeoning disposable incomes, and relatively lenient policies compared to developed economies. Further, the number of heart failure cases has surged in the past decade in developing countries. According to the World Economic Forum, Russia, China, Brazil, India, and South Africa were among the fastest-growing economies globally as of 2017, and they collectively accounted for one-third of total global health spending. According to the World Bank, health spending in India and China increased by 3.01% and 5.35%, respectively, from 2018 to 2019. As per the India Brand Equity Foundation, the healthcare sector in India was worth US$ 280 billion in 2020, with ~71% of revenue contribution from hospitals, which indicates a significant improvement in the country's healthcare sector. In China, the number of private hospitals has doubled from 2011 to 2017 to reach a total of 16,900. Private hospitals account for ~57% of total hospitals in the country. The number of surgical centers and hospitals in developing markets would continue to grow with burgeoning healthcare spending and a rising target patient population. Therefore, the development of healthcare facilities in the developing economies, along with a surge in the number of hospitals, would in turn, result in the elevated number of heart transplantation surgeries in the coming years, creating lucrative opportunities for the heart transplant market players.

On the contrary, high cost of surgeries hampers the growth of Asia Pacific heart transplant market.

Based on surgery type, the Asia Pacific heart transplant market is bifurcated into orthotopic heart transplantation and heterotopic heart transplantation. The orthotopic heart segment held 77.6% share of Asia Pacific heart transplant market in 2022, amassing US$ 2,656.82 million. It is projected to garner US$ 6,100.77 million by 2030 to expand at 11.0% CAGR during 2022-2030.

In terms of type, the Asia Pacific heart transplant market is bifurcated into donor live heart and artificial heart. The donor live heart segment held 73.3% share of Asia Pacific heart transplant market in 2022, amassing US$ 2,511.97 million. It is projected to garner US$ 5,577.40 million by 2030 to expand at 10.5% CAGR during 2022-2030. Further, artificial heart segment is categorized into ventricular assisted device and total artificial heart.

Based on end user, the Asia Pacific heart transplant market is segmented into hospitals, cardiac centers, and others. The hospitals segment held 59.1% share of Asia Pacific heart transplant market in 2022, amassing US$ 2,023.19 million. It is projected to garner US$ 4,677.33 million by 2030 to expand at 11.0% CAGR during 2022-2030.

By country, the Asia Pacific heart transplant market has been categorized into China, India, South Korea, Japan, Australia, and the Rest of Asia Pacific. Our regional analysis states that China captured 36.6% share of Asia Pacific heart transplant market in 2022. It was assessed at US$ 1,254.83 million in 2022 and is likely to hit US$ 2,866.02 million by 2030, exhibiting a CAGR of 10.9% during 2022-2030.

Key players operating in the Asia Pacific heart transplant market are Terumo Corp, Abbott Laboratories, SynCardia Systems LLC, BiVACOR Inc, BioVentrix Inc, and LivaNova Plc, among others.

• In June 2021, Abbott Laboratories announced that it has enhanced its capacity and supply for mechanical circulatory support (MCS) devices, Medtronic HeartWare ventricular assist device (HVAD). In addition, the company announced providing support training and education programs for its HeartMate 3 heart pump.
  
  
• In January 2020, Abbott Laboratories announced that the Food and Drug Administration (FDA) approved its HeartMate 3 left ventricular assist device (LVAD). LVAD is a minimally invasive surgical technique for the placement that avoids open surgery. In 2017, the FDA approved HeartMate 3 for bridge therapy for patients awaiting a heart transplant.
  
  

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