The Asia Pacific left ventricular assist device market is expected to grow from US$ 263.01 million in 2022 to US$ 370.99 million by 2028. It is estimated to register a CAGR of 5.9% from 2022 to 2028.
Emerging countries such as India and China are expected to offer significant growth opportunities to the left ventricular assist device market players mainly due to the rising patient population, increasing R&D activities, growing CVD awareness, surging disposable incomes, improving healthcare infrastructure, and comparatively lenient policies compared to developed countries. These emerging markets have also seen a sustained increase in heart failure cases over the past decade. To capitalize on high growth opportunities prevailing in emerging markets, manufacturers are adopting strategic activities such as R&D for business expansion in these countries. According to the World Bank, health spending in China and India, increased by 5.35% and 3.01%, respectively, from 2018 to 2019. According to the India Brand Equity Foundation, the healthcare sector in India has flourished at a CAGR of 17%; it was worth US$ 280 billion in 2020, with hospitals accounting for ~71% of revenue. In China, the number of private hospitals has doubled to reach 16,900 during 2011-2017. Private hospitals account for ~57.2% of total hospitals in the country. Therefore, advancements in healthcare facilities in developing economies, along with a surge in the number of hospitals, are likely to drive the adoption of LVADs in emerging economies in the Asia Pacific left ventricular assist device market.
The Asia Pacific left ventricular assist device market, based on country, is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. China dominated the market in 2022.
ABIOMED Inc; Abbott Laboratories; Medtronic Plc; LivaNova Plc; Terumo Corp; BiVACOR Inc; Evaheart Inc; and BioVentrix Inc are the leading companies operating in the Asia Pacific left ventricular assist device market.
Untapped Potential in Emerging Economies to Drive Asia Pacific Left Ventricular Assist Device Market
Growth in Coming YearsEmerging countries such as India and China are expected to offer significant growth opportunities to the left ventricular assist device market players mainly due to the rising patient population, increasing R&D activities, growing CVD awareness, surging disposable incomes, improving healthcare infrastructure, and comparatively lenient policies compared to developed countries. These emerging markets have also seen a sustained increase in heart failure cases over the past decade. To capitalize on high growth opportunities prevailing in emerging markets, manufacturers are adopting strategic activities such as R&D for business expansion in these countries. According to the World Bank, health spending in China and India, increased by 5.35% and 3.01%, respectively, from 2018 to 2019. According to the India Brand Equity Foundation, the healthcare sector in India has flourished at a CAGR of 17%; it was worth US$ 280 billion in 2020, with hospitals accounting for ~71% of revenue. In China, the number of private hospitals has doubled to reach 16,900 during 2011-2017. Private hospitals account for ~57.2% of total hospitals in the country. Therefore, advancements in healthcare facilities in developing economies, along with a surge in the number of hospitals, are likely to drive the adoption of LVADs in emerging economies in the Asia Pacific left ventricular assist device market.
Asia Pacific Left Ventricular Assist Device Market Overview
The Asia Pacific left ventricular assist device market is segmented into China, Japan, India, South Korea, Australia, South Korea, and the Rest of Asia Pacific. The market growth in this region is attributed to the rising geriatric population, increasing heart failure cases, surging cardiovascular disease prevalence, and inclusion of LVAD-associated costs in insurance coverage. Rapid socioeconomic progress and changes in China are affecting the lifestyle of populations, which in turn, increases the risk of cardiovascular diseases. According to an article published in BioMed Central (BMC), CVDs contribute to more than 40% of deaths in China. In addition, in 2019, ~120.33 million people suffered from CVDs in China. CVD further leads to heart failure; therefore, the increase in cases of CVDs fuels the demand for LVADs in China.Asia Pacific Left Ventricular Assist Device Market Segmentation
The Asia Pacific left ventricular assist device market is segmented into type of flow, design, application, and country.- 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 registered the largest market share in 2022.
- 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 registered the largest market share in 2022.
- 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 registered the largest market share in 2022
The Asia Pacific left ventricular assist device market, based on country, is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. China dominated the market in 2022.
ABIOMED Inc; Abbott Laboratories; Medtronic Plc; LivaNova Plc; Terumo Corp; BiVACOR Inc; Evaheart Inc; and BioVentrix Inc are the leading companies operating in the Asia Pacific left ventricular assist device market.
Table of Contents
1. Introduction1.1 Scope of the Study
1.2 Research Report Guidance
1.3 Market Segmentation
1.3.1 Asia Pacific Left Ventricular Assist Device Market - By Type of Flow
1.3.2 Asia Pacific Left Ventricular Assist Device Market - By Design
1.3.3 Asia Pacific Left Ventricular Assist Device Market - By Application
1.3.4 Asia Pacific Left Ventricular Assist Device Market - By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Left Ventricular Assist Device Market - Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Experts Opinion
5. Asia Pacific Left Ventricular Assist Device Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Elevating Incidence of Target Diseases and Procedures
5.2 Market Restraints
5.2.1 Rise in Product Recalls and Complications Associated with Left Ventricular Assist Devices
5.3 Market Opportunities
5.3.1 Untapped Potential of Emerging Economies
5.4 Future Trends
5.4.1 Widening Use of Artificial Intelligence and Machine Learning in LVAD
5.5 Impact Analysis
6. Asia Pacific Left Ventricular Assist Device Market Analysis
6.1 Asia Pacific Left Ventricular Assist Device Market Revenue Forecast & Analysis
7. Asia Pacific Left Ventricular Assist Device Market Analysis - By Type of Flow
7.1 Overview
7.2 Asia Pacific Left Ventricular Assist Device Market, By Type of Flow 2021 & 2028 (%)
7.3 Pulsatile Flow
7.3.1 Overview
7.3.2 Pulsatile Market Revenue and Forecast to 2028 (US$ Million)
7.4 Non-Pulsatile
7.4.1 Overview
7.4.2 Non-Pulsatile Market Revenue and Forecast to 2028 (US$ Million)
8. Asia Pacific Left Ventricular Assist Device Market Analysis - by Design
8.1 Overview
8.2 Asia Pacific Left Ventricular Assist Device Market, By Design 2021 & 2028 (%)
8.3 Implantable Ventricular Assist Devices
8.3.1 Overview
8.3.2 Implantable Ventricular Assist Devices Market Revenue and Forecast to 2028 (US$ Million)
8.4 Transcutaneous Ventricular Assist Devices
8.4.1 Overview
8.4.2 Transcutaneous Ventricular Assist Devices Market Revenue and Forecast to 2028 (US$ Million)
9. Asia Pacific Left Ventricular Assist Device Market - By Application
9.1 Overview
9.2 Asia Pacific Left Ventricular Assist Device Market, By Application 2021 & 2028 (%)
9.3 Bridge to Transplantation
9.3.1 Overview
9.3.2 Bridge to Transplantation Market Revenue and Forecast to 2028 (US$ Million)
9.4 Destination Therapy
9.4.1 Overview
9.4.2 Destination Therapy Market Revenue and Forecast to 2028 (US$ Million)
9.5 Bridge to Recovery
9.5.1 Overview
9.5.2 Bridge to Recovery Market Revenue and Forecast to 2028 (US$ Million)
9.6 Bridge to Candidacy
9.6.1 Overview
9.6.2 Bridge to Candidacy Market Revenue and Forecast to 2028 (US$ Million)
10. Asia Pacific Left Ventricular Assist Device Market - Country Analysis
10.1 Overview
10.1.1 Asia Pacific: Left Ventricular Assist Device Market, by Country, 2021 & 2028 (%)
10.1.1.1 China: Left Ventricular Assist Device Market - Revenue and Forecast to 2028 (USD Million)
10.1.1.1.1 Overview
10.1.1.1.2 China: Left Ventricular Assist Device Market - Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.3 China: Left Ventricular Assist Device Market, by Type of Flow, 2019-2028 (US$ Million)
10.1.1.1.4 China: Left Ventricular Assist Device Market, by Design, 2019-2028 (US$ Million)
10.1.1.1.5 China Left Ventricular Assist Device Market, by Application, 2019-2028 (USD Million)
10.1.1.2 Japan: Left Ventricular Assist Device Market - Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 Overview
10.1.1.2.2 Japan: Left Ventricular Assist Device Market - Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.3 Japan: Left Ventricular Assist Device Market, by Type of Flow, 2019-2028 (US$ Million)
10.1.1.2.4 Japan: Left Ventricular Assist Device Market, by Design, 2019-2028 (US$ Million)
10.1.1.2.5 Japan: Left Ventricular Assist Device Market, by Application, 2019-2028 (US$ Million)
10.1.1.3 India: Left Ventricular Assist Device Market - Revenue and Forecast to 2028 (USD Million)
10.1.1.3.1 Overview
10.1.1.3.2 India: Left Ventricular Assist Device Market - Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.3 India: Left Ventricular Assist Device Market, by Type of Flow, 2019-2028 (US$ Million)
10.1.1.3.4 India: Left Ventricular Assist Device Market, by Design, 2019-2028 (US$ Million)
10.1.1.3.5 India: Left Ventricular Assist Device Market, by Application, 2019-2028 (US$ Million)
10.1.1.4 South Korea: Left Ventricular Assist Device Market - Revenue and Forecast to 2028 (US$ Million)
10.1.1.4.1 Overview
10.1.1.4.2 South Korea: Left Ventricular Assist Device Market - Revenue and Forecast to 2028 (US$ Million)
10.1.1.4.3 South Korea: Left Ventricular Assist Device Market, by Type of Flow, 2019-2028 (US$ Million)
10.1.1.4.4 South Korea: Left Ventricular Assist Device Market, by Design, 2019-2028 (US$ Million)
10.1.1.4.5 South Korea: Left Ventricular Assist Device Market, by Application, 2019-2028 (US$ Million)
10.1.1.5 Australia: Left Ventricular Assist Device Market - Revenue and Forecast to 2028 (US$ Million)
10.1.1.5.1 Overview
10.1.1.5.2 Australia: Left Ventricular Assist Device Market - Revenue and Forecast to 2028 (US$ Million)
10.1.1.5.3 Australia: Left Ventricular Assist Device Market, by Type of Flow, 2019-2028 (US$ Million)
10.1.1.5.4 Australia: Left Ventricular Assist Device Market, by Design, 2019-2028 (US$ Million)
10.1.1.5.5 Australia: Left Ventricular Assist Device Market, by Application, 2019-2028 (US$ Million)
10.1.1.6 Rest of Asia Pacific: Left Ventricular Assist Device Market - Revenue and Forecast to 2028 (US$ Million)
10.1.1.6.1 Overview
10.1.1.6.2 Rest of Asia Pacific: Left Ventricular Assist Device Market - Revenue and Forecast to 2028 (US$ Million)
10.1.1.6.3 Rest of Asia Pacific: Left Ventricular Assist Device Market, by Type of Flow, 2019-2028 (US$ Million)
10.1.1.6.4 Rest of Asia Pacific: Left Ventricular Assist Device Market, by Design, 2019-2028 (US$ Million)
10.1.1.6.5 Rest of Asia Pacific: Left Ventricular Assist Device Market, by Application, 2019-2028 (US$ Million)
11. Company Profiles
11.1 ABIOMED Inc
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Abbott Laboratories
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Medtronic Plc
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 LivaNova Plc
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Terumo Corp
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 BiVACOR Inc
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 BioVentrix Inc
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
12. Appendix
12.1 About the Publisher
12.2 Glossary of Terms
Table 1. China Left Ventricular Assist Device Market, by Type of Flow - Revenue and Forecast to 2028 (US$ Million)
Table 2. China Left Ventricular Assist Device Market, by Design - Revenue and Forecast to 2028 (US$ Million)
Table 3. China Left Ventricular Assist Device Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 4. Japan Left Ventricular Assist Device Market, by Type of Flow - Revenue and Forecast to 2028 (US$ Million)
Table 5. Japan Left Ventricular Assist Device Market, by Design - Revenue and Forecast to 2028 (US$ Million)
Table 6. Japan Left Ventricular Assist Device Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 7. India Left Ventricular Assist Device Market, by Type of Flow - Revenue and Forecast to 2028 (US$ Million)
Table 8. India Left Ventricular Assist Device Market, by Design - Revenue and Forecast to 2028 (US$ Million)
Table 9. India Left Ventricular Assist Device Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 10. South Korea Left Ventricular Assist Device Market, by Type of Flow - Revenue and Forecast to 2028 (US$ Million)
Table 11. South Korea Left Ventricular Assist Device Market, by Design - Revenue and Forecast to 2028 (US$ Million)
Table 12. South Korea Left Ventricular Assist Device Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 13. Australia Left Ventricular Assist Device Market, by Type of Flow - Revenue and Forecast to 2028 (US$ Million)
Table 14. Australia Left Ventricular Assist Device Market, by Design - Revenue and Forecast to 2028 (US$ Million)
Table 15. Australia Left Ventricular Assist Device Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 16. Rest of Asia Pacific Left Ventricular Assist Device Market, by Type of Flow - Revenue and Forecast to 2028 (US$ Million)
Table 17. Rest of Asia Pacific Left Ventricular Assist Device Market, by Design - Revenue and Forecast to 2028 (US$ Million)
Table 18. Rest of Asia Pacific Left Ventricular Assist Device Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 19. Glossary of Terms
Figure 1. Asia Pacific Left Ventricular Assist Device Market Segmentation
Figure 2. Asia Pacific Left Ventricular Assist Device Market, By Country
Figure 3. Asia Pacific Left Ventricular Assist Device Market Overview
Figure 4. Implantable Ventricular Assist Device Held Largest Share for Design Segment in Left Ventricular Assist Device Market
Figure 5. China is Expected to Show Remarkable Growth During the Forecast Period
Figure 6. Asia Pacific: PEST Analysis
Figure 7. Experts Opinion
Figure 8. Impact Analysis
Figure 9. Asia Pacific Left Ventricular Assist Device Market - Revenue Forecast and Analysis - 2020- 2028
Figure 10. Asia Pacific Left Ventricular Assist Device Market, by Type of Flow 2021 & 2028 (%)
Figure 11. Pulsatile Market Revenue and Forecasts to 2028 (US$ Million)
Figure 12. Non-Pulsatile Market Revenue and Forecasts to 2028 (US$ Million)
Figure 13. Asia Pacific Left Ventricular Assist Device Market, by Design 2021 & 2028 (%)
Figure 14. Implantable Ventricular Assist Devices Market Revenue and Forecasts to 2028 (US$ Million)
Figure 15. Transcutaneous Ventricular Assist Devices Market Revenue and Forecasts to 2028 (US$ Million)
Figure 16. Asia Pacific Left Ventricular Assist Device Market, by Application 2021 & 2028 (%)
Figure 17. Bridge to Transplantation Market Revenue and Forecasts to 2028 (US$ Million)
Figure 18. Destination Therapy Market Revenue and Forecasts to 2028 (US$ Million)
Figure 19. Bridge to Recovery Market Revenue and Forecasts to 2028 (US$ Million)
Figure 20. Bridge to Candidacy Market Revenue and Forecasts to 2028 (US$ Million)
Figure 21. Asia Pacific: Left Ventricular Assist Device Market, by Key Country - Revenue (2021) (US$ Million)
Figure 22. China: Left Ventricular Assist Device Market - Revenue and Forecast to 2028 (US$ Million)
Figure 23. Japan: Left Ventricular Assist Device Market - Revenue and Forecast to 2028 (US$ Million)
Figure 24. India: Left Ventricular Assist Device Market - Revenue and Forecast to 2028 (US$ Million)
Figure 25. South Korea: Left Ventricular Assist Device Market - Revenue and Forecast to 2028 (US$ Million)
Figure 26. Australia: Left Ventricular Assist Device Market - Revenue and Forecast to 2028 (US$ Million)
Figure 27. Rest of Asia Pacific: Left Ventricular Assist Device Market - Revenue and Forecast to 2028 (US$ Million)
Companies Mentioned
- ABIOMED Inc
- Abbott Laboratories
- Medtronic Plc
- LivaNova Plc
- Terumo Corp
- BiVACOR Inc
- Evaheart Inc
- BioVentrix Inc
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 111 |
| Published | January 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 263.01 Million |
| Forecasted Market Value ( USD | $ 370.99 Million |
| Compound Annual Growth Rate | 5.9% |
| Regions Covered | Asia Pacific |
| No. of Companies Mentioned | 8 |
