South Korea Ventricular Assist Device Market Size & Outlook
South Korea ventricular assist device market, 2018-2028 (US$M)
Related Markets
South Korea ventricular assist device market highlights
- The South Korea ventricular assist device market generated a revenue of USD 36.0 million in 2021 and is expected to reach USD 121.0 million by 2028.
- The South Korea market is expected to grow at a CAGR of 18.9% 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 36.0 million |
| Market revenue in 2028 | USD 121.0 million |
| Growth rate | 18.9% (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, South Korea accounted for 1.5% 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.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Ventricular Assist Device Market Scope
Ventricular Assist Device Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea 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 82.5% in 2021. Horizon Databook has segmented the South Korea 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.
Rising prevalence of cardiovascular illnesses such as hypertension, ventricular septal defect, heart failure, and stroke is driving the adoption of ventricular assist devices for treating heart diseases. In addition, the scarcity of heart donors is further aiding the market growth in the country.
According to the Institution of Health Metrics and Evolution, 20.0% and 2.4% of the total population in South Korea died due to ischemic heart diseases and stoke in 2017. Moreover, consumption of alcohol and tobacco has also increased to 20.0% and 7.5%, respectively. Therefore, increase in prevalence of CVDs and government expenditure on healthcare (USD 2,150 million in 2017) is anticipated to boost market growth.
Reasons to subscribe to South Korea ventricular assist device market databook:
-
Access to comprehensive data: Horizon Databook provides over 1 million market statistics and 20,000+ reports, offering extensive coverage across various industries and regions.
-
Informed decision making: Subscribers gain insights into market trends, customer preferences, and competitor strategies, empowering informed business decisions.
-
Cost-Effective solution: It's recognized as the world's most cost-effective market research database, offering high ROI through its vast repository of data and reports.
-
Customizable reports: Tailored reports and analytics allow companies to drill down into specific markets, demographics, or product segments, adapting to unique business needs.
-
Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of South Korea ventricular assist device market databook
-
Our clientele includes a mix of ventricular assist device market companies, investment firms, advisory firms & academic institutions.
-
30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
-
Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
-
The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea ventricular assist device market , including forecasts for subscribers. This country databook contains high-level insights into South Korea ventricular assist device market from 2018 to 2028, including revenue numbers, major trends, and company profiles.
Partial client list
South Korea ventricular assist device market size, by product, 2018-2028 (US$M)
South Korea Ventricular Assist Device Market Outlook Share, 2021 & 2028 (US$M)
Related industry reports
Related regional statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
