Report : Asia Pacific Left Ventricular Assist Device Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – Type of Flow (Pulsatile Flow and Non-Pulsatile Flow), Design (Implantable Ventricular Assist Devices and Transcutaneous Ventricular Assist Devices), and Application (Bridge to Transplantation, Destination Therapy, Bridge to Recovery, and Bridge to Candidacy)

At 5.9% CAGR, the Asia Pacific Left Ventricular Assist Device Market is speculated to be worth US$ 370.99 million by 2028, says Business Market Insights   

According to Business Market Insights’ research, the Asia Pacific left ventricular assist device market was valued at US$ 263.01 million in 2022 and is expected to reach US$ 370.99 million by 2028, registering a CAGR of 5.9% from 2022 to 2028. Growing incidence of target diseases and procedures and untapped potential of emerging economies are the critical factors attributed to the Asia Pacific left ventricular assist device market expansion.               

According to the World Health Organization (WHO), cardiovascular disease (CVD) is one of the leading causes of death across the region. A few main contributors that are increasing the prevalence of CVD and stroke are family history, ethnicity, and age. The prevalence of CVD is also growing due to tobacco use; high blood pressure (hypertension); high cholesterol; exercise lack; unhealthy diet; excessive alcohol consumption; and diseases such as dyslipidemia, obesity, and diabetes. Moreover, according to the WHO estimates, deaths due to CVD across the world will rise from ~17.9 million in 2016 to 23.6 million by 2030. The increasing the heart transplant waiting list has propelled the use of left ventricular assist devices (LVADs) for end-stage heart failure patients to increase the ejection fraction and prevent organ failure. Therefore, the rising prevalence of CVD and heart failure and the long waiting list for a heart transplant propel the adoption of LVADs, which drives the growth of the Asia Pacific left ventricular assist device market.

On the contrary, rise in product recalls and complications associated ventricular assist devices with hinders the Asia Pacific  left ventricular assist device market growth.   

Based on type of flow, the Asia Pacific left ventricular assist device market is segmented into non-pulsatile and pulsatile flow. The non-pulsatile segment held 54.6% market share in 2022, amassing US$ 143.53 million. It is projected to garner US$ 208.15 million by 2028 to expand at 6.4% CAGR during 2022–2028.

Based on design, the Asia Pacific left ventricular assist device market is bifurcated into implantable ventricular assist devices and transcutaneous ventricular assist devices. The implantable ventricular assist devices segment held 57.1% market share in 2022, amassing US$ 150.28 million. It is projected to garner US$ 208.24 million by 2028 to expand at 5.6% CAGR during 2022–2028.

Based on application, the Asia Pacific left ventricular assist device market is segmented into destination therapy, bridge to transplantation, bridge to candidacy, and bridge to recovery. The destination therapy segment held 40.7% market share in 2022, amassing US$ 107.06 million. It is projected to garner US$ 156.48 million by 2028 to expand at 6.5% CAGR during 2022–2028.

Based on country, the Asia Pacific left ventricular assist device market has been segmented into China, Japan, India, Australia, South Korea, and Rest of Asia Pacific.  Our regional analysis states that China captured 29.8% market share in 2022. It was assessed at US$ 78.30 million in 2022 and is likely to hit US$ 113.52 million by 2028, exhibiting a CAGR of 6.4% during the forecast period.  

Key players dominating the Asia Pacific left ventricular assist device market are ABIOMED Inc; Abbott Laboratories; Medtronic Plc; LivaNova Plc; Terumo Corp; BiVACOR Inc; Evaheart Inc; and BioVentrix Inc, among others.

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