The Asia-Pacific market for cardiac assist devices is estimated at $264.4 Million in 2015 and is poised to reach $386.9 Million by 2020, growing at a CAGR of 7.91%. These devices are normally employed in patients suffering from End-Stage Congestive Heart Failure, where the odds of survival through medications alone is minimal. Asian countries and regions such as Japan, Korea, China have greater mortality and morbidity from stroke than from coronary heart disease (CHD). The scarcity of donor organs due to less awareness about organ donation campaign and cultural beliefs has furthered steered to the development of these devices. Various pipeline products are going through clinical trials in order to provide vigorous clinical data on the safety and efficacy of the devices. The approval of novel technologically advanced products will further increase the demand for cardiac assist devices in the future.
Rise in geriatric population in countries like India and China, upsurge in occurrence of cardiovascular diseases, technological advancements owing to the increased government expenditure on healthcare and availability of more efficient and minimally invasive devices in future are driving the cardiac assist devices market.
However, the high cost of CAD devices is way too far from the economic capabilities of consumers in these regions. With the availability of alternate devices like pacemaker and increasing feasibility of heart transplantation along with the risks associated with the device compatibility and surgical impediments such as kidney failure, bleeding, is limiting the Asia-Pacific Cardiac assist devices market growth.
The Asia-Pacific cardiac assist devices market is segmented on the basis of type into Ventricular Assist Devices (VAD), Intra-Aortic Balloon Pumps (IABP) & Total Artificial Heart (TAH). Further the Ventricular Assist Devices is divided into Right Ventricular Assist Device (RVAD), Left Ventricular Assist Device (LVAD), Bi-Ventricular Assist Device (Bi-VAD) & External Ventricular Assist Devices.
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In addition, On the basis of geography, the Asia-Pacific market is analysed under various regions namely, China, India, Japan and South Korea. The Asia-Pacific region accounts to about 8% of the Global cardiac assist devices market.
Thoratec Corporation, Teleflex Incorporated, MAQUET GmbH & Co, Berlin Heart GmbH, Abiomed, Inc., HeartWare International, SynCardia Systems, Inc. are the leading market players in the Asia-pacific Cardiac Assist Devices market. Thoratec Corporation and Berlin Heart leads in the VAD segment whereas Teleflex and MAQUET occupy lead position 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).
Other prominent players in the market include Jarvik Heart, Inc. and Terumo Corporation. BiVacor Pty Ltd, Braile Biomedica Ltd., Calon Cardio-Technology Ltd., CardiacAssist, Inc., CardioBridge GmbH, Carmat SAS, Cleveland Heart, Inc., Evaheart Medical USA, Inc., Windmill Cardiovascular Systems, Inc.
Major Points From The Table Of Contents:
Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
Market Leaders’ Analysis
Market Outlook and Investment Opportunities
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