Australia Ventricular Assist Device Market Size & Outlook
Australia ventricular assist device market, 2018-2028 (US$M)
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Australia ventricular assist device market highlights
- The Australia ventricular assist device market generated a revenue of USD 31.4 million in 2021 and is expected to reach USD 108.5 million by 2028.
- The Australia market is expected to grow at a CAGR of 19.4% from 2022 to 2028.
- In terms of segment, left ventricular assist devices was the largest revenue generating product in 2021.
- Total Artificial Heart (TAH) is the most lucrative product segment registering the fastest growth during the forecast period.
Ventricular assist device market data book summary
| Market revenue in 2021 | USD 31.4 million |
| Market revenue in 2028 | USD 108.5 million |
| Growth rate | 19.4% (CAGR from 2021 to 2028) |
| Largest segment | Left ventricular assist devices |
| Fastest growing segment | Total Artificial Heart (TAH) |
| Historical data | 2018 - 2020 |
| Base year | 2021 |
| Forecast period | 2022 - 2028 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Left ventricular assist devices, Right ventricular assist devices, Bi-ventricular assist devices, Total Artificial Heart (TAH) |
| Key market players worldwide | Johnson & Johnson, Medtronic PLC, Abbott Laboratories, Cardio Diagnostics Holdings Inc |
Other key industry trends
- In terms of revenue, Australia accounted for 1.3% of the global ventricular assist device market in 2021.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2028.
- In Asia Pacific, South Korea ventricular assist device market is projected to lead the regional market in terms of revenue in 2028.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 42.7 million by 2028.
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Ventricular Assist Device Market Scope
Ventricular Assist Device Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia ventricular assist device market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to ventricular assist device market will help companies and investors design strategic landscapes.
Left ventricular assist devices was the largest segment with a revenue share of 83.12% in 2021. Horizon Databook has segmented the Australia ventricular assist device market based on left ventricular assist devices, right ventricular assist devices, bi-ventricular assist devices, total artificial heart (tah) covering the revenue growth of each sub-segment from 2018 to 2028.
Increasing prevalence of heart diseases and scarcity of heart donors in Australia has boosted the usage and adoption of VADs among doctors to keep the blood flowing until a heart is transplanted. This, in turn, aids in minimizing in-patient mortality, duration of stay, and total hospital expenses.
According to Heart Foundation, CVD was the major cause of 576,000 hospitalizations and 43,447 deaths in 2017. Moreover, increase in consumption of alcohol and tobacco, rise in lifestyle-associated diseases, such as high blood pressure, diabetes, obesity, & unhealthy diet, and depression is resulting in cardiovascular fatalities which, in turn, is driving the market growth in the country.
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Our clientele includes a mix of ventricular assist device market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Australia ventricular assist device market , including forecasts for subscribers. This country databook contains high-level insights into Australia ventricular assist device market from 2018 to 2028, including revenue numbers, major trends, and company profiles.
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Australia ventricular assist device market size, by product, 2018-2028 (US$M)
Australia Ventricular Assist Device Market Outlook Share, 2021 & 2028 (US$M)
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