Asia Pacific Artificial Heart Market - Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F.

Asia Pacific Artificial Heart Market - Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F.

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

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 include their food habits, alcohol consumption, cigarette smoking, and others, is further contributing to the growth of the market.

An artificial heart is a pump-like device that 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 the establishment of more heart care hospitals every year are further expected to drive the market in the forecast period. A considerable rise in the geriatric population of the region in passing years is one of the major reasons behind the development of the 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 the 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 the National Center for Biotechnology Information National Library of Medicine, it has been reported that in 2020, Asia-Pacific countries like Australia and Singapore ranked high for coronary heart diseases (CHD), resulting in a mortality rate of more than 150 deaths per 100,000. Another crucial reason which remains the leading cause of death in the Asia-Pacific region is the rising cases of cardiovascular diseases (CVD). Artificial heart implantation is the only possible procedure that is the most effective and life-saving treatment considered by doctors, which can decrease the mortality rate in the region caused by cardiac disorders. As per the 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 was approximately 35% of the total deaths in Asia. 39% of these CVD deaths were premature (defined as the death of a person aged <70 years). The increasing mortality rate due to a rise in heart diseases is further expected to register impressive growth in the 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, are considered 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 the Scientific Research Organization of Samoa in 2019, it was observed that people with higher incomes 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 leads to death. As per the report published by the 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, the highest age-standardized rate of diet-related CVD deaths (299 per 100,000 population) was reported. The rise in the number of deaths due to poor diet consumed by people is driving the growth of the 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. The most common aging 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 senior citizens are suffering from heart disease in India, which is expected to increase to 11.1 million of the geriatric population by 2030. This rise in cardiac diseases among the old-aged people of the Asia-Pacific region is further expected to boost the growth of the 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 the way for the growth of the Artificial Heart Market in the region. Health professionals from various countries are investing in research and development for the improved outcome of artificial heart implantations. Moreover, growing awareness among the people of the Asia-Pacific region has made the artificial heart market to be the most recommended treatment related to biventricular heart failure. Various other cardiac surgeries where artificial intelligence and machine learning are assisting with medical help in their procedure are further accounting for the impressive growth of the Asia Pacific Artificial Heart Market in upcoming years.

Key Developments

• Recently, in 2021, Modern Heart and Vascular Institute 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), announced 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 an 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 the chest of cardiac-diseased patients to learn about its fit and placement.

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 devices, total artificial heart, and others. Based on the power source, the market is divided into internal batteries and external batteries. 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

Report Scope:

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

• Asia-Pacific Artificial Heart Market, By Type:
• Ventricular Assist Device
• Total Artificial Heart
• Others
• Asia-Pacific Artificial Heart Market, By Power Source:
• Internal Battery
• External Battery
• Asia-Pacific Artificial Heart Market, By End-Use Industry:
• Hospitals & Specialty Clinics
• Ambulatory Care Centers
• Others.
• Asia-Pacific Artificial Heart Market, By Country:
• China
• India
• South Korea
• Australia
• Japan

Competitive Landscape

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

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).

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