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

  • Industry : Healthcare
  • Pages : NA
  • Published Date : NA
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Summary

Report Description

Asia Pacific Artificial Heart Market is anticipated to rise at an impressive rate through 2028 due to the increasing number of heart strokes, coronary heart disease (CHD) and other heart related disorders. Moreover, developing unhealthy lifestyles of people which includes their food habits, alcohol consumption, cigarette smoking, and others is further contributing to growth of the market.

An artificial heart is a pump-like device which is surgically placed inside the chest by replacing the patient’s original heart. It saves the person’s life by removing the damaged ventricles and valves through surgeries. Multiple initiatives taken by the government to improve people’s health and establishment of more heartcare hospitals every year is further expected to drive the market in forecast period. A considerable rise in geriatric population of region with passing years is one of the major reasons behind development of Asia Pacific Artificial Heart Market.

Growing Prevalence of Cardiac Disorders

According to a meta-analysis project, Asia Pacific Cohort Studies Collaboration (APCSC), after going through more than 650,000 individual data it has been concluded that within 44 different countries of Asia Pacific region, major risk factors which are leading to both fatal and non-fatal disorders are, diabetes mellitus (DM), blood pressure, hypertension, and smoking habits of people. Moreover, a person’s serum cholesterol level is the main reason which is increasing the number of coronary heart diseases (CHD) in the region. According to National Center for Biotechnology Information, National Library of Medicine, it has been reported that in 2020, Asia-Pacific countries like Australia and Singapore rank high for coronary heart diseases (CHD) resulting in the mortality rate of more than 150 deaths per 100,000. Another crucial reason which remains the leading cause of death in Asia-Pacific region is rising cases of cardio-vascular diseases (CVD). Artificial heart implantation is the only possible procedure which is most effective and life-saving treatment considered by doctors which can decrease the mortality rate in the region caused by cardiac disorders. As per Journal of the American College of Cardiology (JACC) report, CVD was the leading cause of death in Asia in 2019, causing 10.8 million deaths, which were approximately 35% of the total deaths in Asia. 39% of these CVD deaths were premature (defined as the death of a person age <70 years). The increasing mortality rate due to a rise in heart diseases is further expected to register an impressive growth in Asia Pacific Artificial Heart Market during the forecast period.

Poor Lifestyle of People

Inequalities in dietary consumption, which is done, based on gender, geography, cultural factors, land ownership, and socioeconomic status is considered as a leading cause of heart-related diseases among people of the region. Particularly in areas of South Asia and Central Asia, women and girls are kept deprived of consuming nutritious food which is therefore increasing food insecurity. Eating processed foods that are less expensive and high in salt, sugar and fat leads to obesity in people. According to research conducted by Scientific Research Organization of Samoa in 2019, it was observed that people with higher income consumed more high-sugar food, fried food, and high-sugar beverages during the year. Uncontrolled intake of unhealthy food shoots the cholesterol level of the person which leads to various cardiac diseases in people like coronary heart disease, stroke, and peripheral vascular disease and leading to death. As per the report published by Journal of the American College of Cardiology (JACC) in 2021, among 21 GBD regions Central-Asian countries had the highest rate of diet related CVD diseases (613 per 100,000 population) and those in Eastern Asia had the highest age-standardized proportions of diet-related disability-adjusted life-years (DALYs) from CVD (64%). Moreover, in China, highest age-standardized rate of diet-related CVD deaths (299 per 100,000 population) was reported. Rise in number of deaths due to poor diet consumed by people is driving the growth of Asia Pacific Artificial Heart Market.

Increasing Geriatric Population

In the Asia-Pacific region, approximately 670 million people are 60 years or older, which accounts for around 14% of the entire population of the region. Most common ageing changes which are observed in people related to the heart are increasing stiffness of the larger arteries, known as arteriosclerosis, and hardening of arteries. These cardiac problems further lead to high blood pressure and hypertension in people. Atherosclerosis is most common among the geriatric population of Asia-Pacific. According to the report published in 2020, it has been analyzed that around 8.1 million of senior citizens are suffering from heart diseases in India which is expected to increase till 11.1 million of geriatric population by 2030. This rise in cardiac diseases among the old-aged people of Asia-Pacific region is further expected to boost the growth of Asia Pacific Artificial Heart Market in upcoming years.

Technological Advancements

In modern times, advancements associated with artificial intelligence and data sciences have emerged as a boon and paving way for the growth of Artificial Heart Market in the region. Health professionals from various countries are investing in research and development for improved outcome of artificial heart implantations. Moreover, growing awareness among the people of Asia-Pacific region has made the artificial heart market to be the most recommended for treatment related to biventricular heart failure. Various other cardiac surgeries where artificial intelligence and machine learning is assisting with the medical help in their procedure is further accounting for the impressive growth of Asia Pacific Artificial Heart Market in upcoming years.

Key Developments

  • Recently in 2021, Modern Heart and Vascular Institute have reported that Chinese researchers are making use of aerospace technology to design an artificial heart. On January 13, 2021, a medical team implanted the aerospace artificial heart into a person suffering from heart failure. The developed artificial heart was named HeartCon, which was successful in pumping and delivering blood throughout the body to alleviate heart failure symptoms.
  • As per the report published by Digital Journal on February 28, 2023, Eko, a digital health company working against heart and lung diseases by use of Artificial Intelligence (AI) announcing the launch of SENSORA which is a platform for detecting cardiac diseases by identifying structural murmurs and signs of valvular heart disease. Moreover, they launched Care Pathway Analytics software that provides downstream visibility and metrics of the patient journey throughout the healthcare system.
  • As per the report published by Victor Chang Cardiac Research Institute, Australia under Australian Government TTRA grant, Professor Hayward's team based at the institute in collaboration with St Vincent's Hospital in Sydney, conducted studies to prepare BiVACOR device for transplantation which was planned to be clinically tried in late 2022/early 2023. The study focused on placing the device in chest of cardiac diseased patient to learn about its fit and placement.


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Market Segmentation

Asia Pacific Artificial Heart Market is segmented based on type, power source, end-user, country, and company. In terms of type, the Artificial Heart Market is categorized into ventricular assist device, total artificial heart, and others. Based on power source, the market is divided into internal battery and external battery. Based on end-user, the market is segmented into hospitals & specialty clinics, ambulatory care centers, and others.

Market Players

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

Attribute

Details

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2018 – 2028F

Quantitative Units

Revenue in USD Million, Volume in tons and CAGR for 2018-2022 and 2023-2028

Report coverage

Revenue forecast, Volume forecast, company share, competitive landscape, growth factors, and trends

Segments covered

Type

Power Source

End User Industry

Regional scope

Asia Pacific

Country scope

China; India; Japan; South Korea; Australia; Malaysia; Indonesia; Singapore; Taiwan; Vietnam;

Key companies profiled

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.

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


Report Scope:

In this report, Asia Pacific Artificial Heart market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Asia-Pacific Artificial Heart Market, By Type:

o   Ventricular Assist Device

o    Total Artificial Heart

o    Others

  • Asia-Pacific Artificial Heart Market, By Power Source:

o   Internal Battery

o   External Battery

            ·         Asia-Pacific Artificial Heart Market, By End-Use Industry:

o   Hospitals & Specialty Clinics

o    Ambulatory Care Centers

o    Others.

  • Asia-Pacific Artificial Heart Market, By country:

o   China

o   India

o   South Korea

o   Australia

o   Japan

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Asia Pacific Artificial Heart market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Asia Pacific Artificial Heart Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.     Markets Covered

1.2.2.     Years Considered for Study

1.2.3.     Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, Trends

4.    Impact of COVID-19 on Asia Pacific Artificial Heart Market

5.    Clinical Trial Analysis

5.1.  Ongoing Clinical Trials

5.2.  Completed Clinical Trials

5.3.  Terminated Clinical Trials

5.4.  Breakdown of Pipeline, By Development Phase

5.5.  Breakdown of Pipeline, By Status

5.6.  Breakdown of Pipeline, By Study Application

5.7.  Breakdown of Pipeline, By Country

5.8.  Clinical Trials Heat Map

6.    Voice of Customer

7.    Asia Pacific Artificial Heart Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Type (Ventricular Assist Device, Total Artificial Heart, Others)

7.2.2.     By Power Source (Internal Battery, External Battery)

7.2.3.     By End User (Hospitals & Specialty Clinics, Ambulatory Care Centers, Others)

7.2.4.     By Country

7.2.5.     By Company (2022)

7.3.  Market Map

7.3.1.     By Type

7.3.2.     By Power Source

7.3.3.     By End User

7.3.4.     By Country

7.4.  Asia Pacific: Country Analysis

7.4.1.     China Artificial Heart Market Outlook

7.4.1.1.         Market Size & Forecast

7.4.1.1.1.             By Value

7.4.1.2.         Market Share & Forecast

7.4.1.2.1.             By Type

7.4.1.2.2.             By Power Source

7.4.1.2.3.             By End User

7.4.2.     India Artificial Heart Market Outlook

7.4.2.1.         Market Size & Forecast

7.4.2.1.1.             By Value

7.4.2.2.         Market Share & Forecast

7.4.2.2.1.             By Type

7.4.2.2.2.             By Power Source

7.4.2.2.3.             By End User

7.4.3.     Japan Artificial Heart Market Outlook

7.4.3.1.         Market Size & Forecast

7.4.3.1.1.             By Value

7.4.3.2.         Market Share & Forecast

7.4.3.2.1.             By Type

7.4.3.2.2.             By Power Source

7.4.3.2.3.             By End User

7.4.4.     South Korea Artificial Heart Market Outlook

7.4.4.1.         Market Size & Forecast

7.4.4.1.1.             By Value

7.4.4.2.         Market Share & Forecast

7.4.4.2.1.             By Type

7.4.4.2.2.             By Power Source

7.4.4.2.3.             By End User

7.4.5.     Australia Artificial Heart Market Outlook

7.4.5.1.         Market Size & Forecast

7.4.5.1.1.             By Value

7.4.5.2.         Market Share & Forecast

7.4.5.2.1.             By Type

7.4.5.2.2.             By Power Source

7.4.5.2.3.             By End User

7.4.6.     Malaysia Artificial Heart Market Outlook

7.4.6.1.         Market Size & Forecast

7.4.6.1.1.             By Value

7.4.6.2.         Market Share & Forecast

7.4.6.2.1.             By Type

7.4.6.2.2.             By Power Source

7.4.6.2.3.             By End User

7.4.7.     Indonesia Artificial Heart Market Outlook

7.4.7.1.         Market Size & Forecast

7.4.7.1.1.             By Value

7.4.7.2.         Market Share & Forecast

7.4.7.2.1.             By Type

7.4.7.2.2.             By Power Source

7.4.7.2.3.             By End User

7.4.8.     Singapore Artificial Heart Market Outlook

7.4.8.1.         Market Size & Forecast

7.4.8.1.1.             By Value

7.4.8.2.         Market Share & Forecast

7.4.8.2.1.             By Type

7.4.8.2.2.             By Power Source

7.4.8.2.3.             By End User

7.4.9.     Taiwan Artificial Heart Market Outlook

7.4.9.1.         Market Size & Forecast

7.4.9.1.1.             By Value

7.4.9.2.         Market Share & Forecast

7.4.9.2.1.             By Type

7.4.9.2.2.             By Power Source

7.4.9.2.3.             By End User

7.4.10.  Vietnam Artificial Heart Market Outlook

7.4.10.1.      Market Size & Forecast

7.4.10.1.1.           By Value

7.4.10.2.      Market Share & Forecast

7.4.10.2.1.           By Type

7.4.10.2.2.           By Power Source

7.4.10.2.3.           By End User

8.    Market Dynamics

8.1.  Drivers

8.2.  Challenges

9.    Market Trends & Developments

9.1.  Recent Developments

9.2.  Product Launches

9.3.  Mergers & Acquisitions

10.  Competitive Landscape

10.1.              Business Overview

10.2.              Product/Service Offerings

10.3.              Recent Developments

10.4.              Financials (As Reported)

10.5.              Key Personnel

10.6.              SWOT Analysis

10.6.1.  BiVACOR, Pty. Ltd.

10.6.2.  Nikkiso Co., Ltd.

10.6.3.  SynCardia Systems, LLC

10.6.4.  Abbott Laboratories, Inc.

10.6.5.  Rocor Medical Technology Co, Ltd.

10.6.6.  CryoLife, Inc.

10.6.7.  Medtronic Plc.

10.6.8.  Sun Medical Technology Research Corp

10.6.9.  Abiomed, Inc.

10.6.10. Terumo Corporation

11.  Strategic Recommendations

12.  About Us & Disclaimer

Figures and Tables

Frequently asked questions

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Rise in cases of cardiac disorders and unhealthy lifestyle of people are driving the demand for the Asia Pacific Artificial Heart Market.

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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 are some of the key players operating in the Asia Pacific Artificial Heart Market.

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The major factors such as technological development in healthcare department and increasing geriatric population are affecting the growth of the Asia Pacific Artificial Heart Market in the forecast period.

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Europe is dominating the market and is expected to maintain its dominance over the next five years due to rising cardiac patients in the country.

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Sakshi Bajaal

Business Consultant
Press Release

Asia Pacific Artificial Heart Market to be driven due to limited heart donors in the region through 2028

May, 2023

Decreasing number of heart donors and rise in healthcare expenditure are the major drivers for the Asia Pacific Artificial Heart Market.

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