India Ventricular Assist Device Market Size & Outlook
India ventricular assist device market, 2018-2028 (US$M)
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India ventricular assist device market highlights
- The India ventricular assist device market generated a revenue of USD 9.8 million in 2021 and is expected to reach USD 42.7 million by 2028.
- The India market is expected to grow at a CAGR of 23.5% from 2022 to 2028.
- In terms of segment, left ventricular assist devices was the largest revenue generating product in 2021.
- Right ventricular assist devices 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 9.8 million |
| Market revenue in 2028 | USD 42.7 million |
| Growth rate | 23.5% (CAGR from 2021 to 2028) |
| Largest segment | Left ventricular assist devices |
| Fastest growing segment | Right ventricular assist devices |
| 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, India accounted for 0.4% 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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India 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 90.82% in 2021. Horizon Databook has segmented the India 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.
In 2018, India spent nearly 3.4% of its GDP on healthcare. It is focusing on improving scope for medical tourism, healthcare policies, infrastructure, and regulatory framework.
However, low government spending on healthcare can be evidenced from the country’s increased out-of-pocket spending, which is a restraining factor for medical devices industry over the forecast period.
Moreover, growing unmet need for technologically advanced healthcare devices, increasing incidence of heart failure, and growing demand for heart transplantation are among key factors expected to drive ventricular assist device market in this region.
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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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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the India ventricular assist device market , including forecasts for subscribers. This country databook contains high-level insights into India ventricular assist device market from 2018 to 2028, including revenue numbers, major trends, and company profiles.
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India ventricular assist device market size, by product, 2018-2028 (US$M)
India Ventricular Assist Device Market Outlook Share, 2021 & 2028 (US$M)
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