Latin America Ventricular Assist Device Market Size & Outlook
Latin America ventricular assist device market, 2018-2028 (US$M)
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Latin America ventricular assist device market highlights
- The Latin America ventricular assist device market generated a revenue of USD 95.1 million in 2021.
- The market is expected to grow at a CAGR of 18.3% 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.
- Country-wise, Argentina is expected to register the highest CAGR from 2022 to 2028.
Latin America data book summary
| Market revenue in 2021 | USD 95.1 million |
| Market revenue in 2028 | USD 308.8 million |
| Growth rate | 18.3% (CAGR from 2021 to 2028) |
| Largest segment | Left ventricular assist devices |
| Fastest growing segment | Total Artificial Heart (TAH) |
| Historical data covered | 2018 - 2020 |
| Base year for estimation | 2021 |
| Forecast period covered | 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, Latin America region accounted for 4.0% of the global ventricular assist device market in 2021.
- Globally, North America is projected to lead the regional market in terms of revenue in 2028.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 834.6 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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Latin America 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 86.75% in 2021. Horizon Databook has segmented the Latin America 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.
Latin America’s economy is primarily supported by Brazil, Mexico, and Venezuela. Its healthcare industry is not very well developed, but there have been constant efforts to improve healthcare access and treatment levels.
Thus, there is a growing need for new hospitals, research centers, domestic, pharmaceutical, and device manufacturing plants to improve the quality of healthcare services with advanced technologies.
Increasing demand for technologically advanced medical devices, unmet demand for technologically advanced heart treatments, and growing incidence of Chagas heart disease are some of the main reasons for the growth of ventricular assist device 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 continent-level data and insights on the Latin America ventricular assist device market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America ventricular assist device market from 2018 to 2028, including revenue numbers, major trends, and company profiles.
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Latin America ventricular assist device market size, by country, 2018-2028 (US$M)
Latin America Ventricular Assist Device Market Outlook Share, 2021 & 2028 (US$M)
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