South Africa Ventricular Assist Device Market Size & Outlook
South Africa ventricular assist device market, 2018-2028 (US$M)
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South Africa ventricular assist device market highlights
- The South Africa ventricular assist device market generated a revenue of USD 6.4 million in 2021 and is expected to reach USD 20.3 million by 2028.
- The South Africa market is expected to grow at a CAGR of 17.9% 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 6.4 million |
| Market revenue in 2028 | USD 20.3 million |
| Growth rate | 17.9% (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 |
| Key market players worldwide | Johnson & Johnson, Medtronic PLC, Abbott Laboratories, Cardio Diagnostics Holdings Inc |
Other key industry trends
- In terms of revenue, South Africa accounted for 0.3% 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 Middle East & Africa, South Africa ventricular assist device market is projected to lead the regional market in terms of revenue in 2028.
- UAE is the fastest growing regional market in Middle East & Africa and is projected to reach USD 12.9 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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South Africa 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 79.69% in 2021. Horizon Databook has segmented the South Africa ventricular assist device market based on left ventricular assist devices, right ventricular assist devices, bi-ventricular assist devices covering the revenue growth of each sub-segment from 2018 to 2028.
South Africa spends nearly 8.2% of its GDP on the healthcare sector. Decrease in out-of-pocket healthcare expenditure from 12.9% in 2004 to 7.7% in 2018 indicates an increase in government spending, leading to potential growth of ventricular assist device market.
Key drivers for the growth of ventricular assist device market include growing incidence of CVD, which further leads to heart failure, stroke, and end-stage heart failure.
Based on a report by Department of the Health Republic of South Africa and the Heart and Stroke Foundation in South Africa, there is a growth in mortality rate because of heart failure in South Africa, which is expected to increase demand for technologically advanced medical devices for heart failure over 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 South Africa ventricular assist device market , including forecasts for subscribers. This country databook contains high-level insights into South Africa ventricular assist device market from 2018 to 2028, including revenue numbers, major trends, and company profiles.
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South Africa ventricular assist device market size, by product, 2018-2028 (US$M)
South Africa Ventricular Assist Device Market Outlook Share, 2021 & 2028 (US$M)
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