Singapore Ventricular Assist Device Market Size & Outlook
Singapore ventricular assist device market, 2018-2028 (US$M)
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Singapore ventricular assist device market highlights
- The Singapore ventricular assist device market generated a revenue of USD 25.7 million in 2021 and is expected to reach USD 91.8 million by 2028.
- The Singapore market is expected to grow at a CAGR of 20% 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 25.7 million |
| Market revenue in 2028 | USD 91.8 million |
| Growth rate | 20% (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, Singapore accounted for 1.1% 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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Singapore 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 85.99% in 2021. Horizon Databook has segmented the Singapore 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.
High mortality rates, coupled with rise in the number of hospitalizations due to heart failure, are increasing the demand VADs for treating heart failure in the country. As per Singapore Heart Foundation, about 17 people die due to CVDs every day.
Recently, in 2017, about 20,905 people died due to CVDs, out of which 18.5% deaths occurred due to ischemic heart disease, 6.3% deaths due to cerebrovascular diseases, and 1.9% deaths due to other heart diseases.
Therefore, increasing prevalence of these diseases in Singapore will enhance the demand for heart implants, which will eventually escalate the market growth for Ventricular Assist Device during the forecast period.
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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 Singapore ventricular assist device market , including forecasts for subscribers. This country databook contains high-level insights into Singapore ventricular assist device market from 2018 to 2028, including revenue numbers, major trends, and company profiles.
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Singapore ventricular assist device market size, by product, 2018-2028 (US$M)
Singapore Ventricular Assist Device Market Outlook Share, 2021 & 2028 (US$M)
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