Asia Pacific Artificial Heart Market to be driven due to limited heart donors in the region through 2028
Decreasing
number of heart donors and rise in healthcare expenditure are the major drivers
for the Asia Pacific Artificial Heart Market.
According to TechSci Research
report, “Asia Pacific Artificial Heart Market – Industry Size, Share, Trends, Competition,
Opportunity and Forecast, 2018-2028”, Asia Pacific Artificial Heart
Market is anticipated to register a high CAGR during the forecast period. This
can be ascribed to increase in grants provided by governing bodies of
individual country that is leading to more artificial heart transplantations.
A smaller number of heart
donors across the countries of Asia Pacific region is leading to the rising
demand of artificial heart in the market. Many deaths have been reported in the
region due to shortage of donor organ availability and awaiting
transplantations. Unhealthy habits of people like consumption of fried and
processed food, alcohol, smoking cigarettes, and others are leading to
development of various kind of diseases in them such as high blood pressure,
high cholesterol, type-2 diabetes, cardiac diseases, and others. Poor health of
people is a major factor which is hampering the ability of people to donate the
organ to heart patients. Artificial heart is the safest and most trusted device
by doctors which is an appropriate replacement for original heart that
functions exactly similar like a normal heart and saves the life of a person.
Moreover, increase in amount of grant provided by the government in the
countries for opening heartcare hospitals and medical institutions is leading
to the rise in artificial heart implantations in the country and thereby
propelling the growth of Asia Pacific Artificial Heart Market.
However, the high cost
of medical procedures related to artificial heart implantations and existing
health issues of people is expected to slow down the growth of the market in
the coming years.
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The Asia Pacific
Artificial Heart Market segmentation is based on Type, Power Source, End Use,
country and company.
Based on type, the
market is further divided into
ventricular
assist device, total artificial heart, and others. The Ventricular Assist
Device segment is likely to dominate the market in the forecast period. This can be ascribed to lifesaving
treatment for heart failures and increase in patient survival rate.
Some of the
major companies operating in the Asia Pacific Artificial Heart Market include:
- BiVACOR, Pty.
Ltd.
- Nikkiso Co., Ltd.
- SynCardia Systems LLC
- Abbott
Laboratories, Inc.
- Rocor Medical Technology Co, Ltd.
- CryoLife, Inc.
- Medtronic Plc.
- Sun Medical Technology Research Corp
- Abiomed, Inc.
- Terumo Corporation
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“Increase in cardiac disorders
among people due to their consumption of unhealthy diet and other harmful
habits is increasing the need of heart transplantations in the country, thereby
giving rise to the Artificial Heart Market, aiming to increase commercialization
activities in all the countries to grow the market of artificial heart.
Additionally, the growing demand of artificial heart due to rise in road accidents
can further boost the rise of market in the upcoming years." said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based Global
management consulting firm.
Asia Pacific Artificial
Heart Market - Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028, Segmented By Type (Ventricular Assist Device, Total Artificial
Heart, Others), By Power Source (Internal Battery, External Battery), By
End-Use (Hospitals & Specialty Clinics, Ambulatory Care Centers, Others),
By Region and Competition”, has evaluated the future
growth potential of Asia Pacific Artificial Heart Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide innovative market intelligence and help
decision makers take sound investment decisions. Besides, the report identifies
and analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Asia Pacific Artificial Heart Market.
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