The Asia Pacific percutaneous mechanical circulatory support devices market is expected to reach US$ 689.47 million by 2027 from US$ 240.88 million in 2019. The market is expected to grow at a CAGR of 14.4% during 2020–2027.
Increasing geriatric population, increasing prevalence of cardiovascular diseases, and shortage of heart donors are the major factors driving the growth of the market in the region. Additionally, growing market in the developing economies and growing reimbursement for cardiac surgery are likely to fuel the growth of the percutaneous mechanical circulatory support devices market during the forecast period. However, factors such as high costs of these devices and procedures associated with them, and impact of COVID-19 pandemic on medical device industry are likely to restrain the growth of the market.
Percutaneous mechanical circulatory support devices offer effective and rapid approach to slow the downward spiral of hemodynamic instability among patients suffering from decompensated heart failures and cardiogenic shocks until a definitive strategy is perceived among patients to recover from these cardiac ailments. The major roles of the percutaneous mechanical circulatory support devices include improving the native cardiac output, reducing ventricular volume and filling pressures, augmenting coronary perfusion, and maintaining vital organ perfusion.
Heart transplantation is the best treatment for patients with medically refractory end-stage heart failure. A central fact about organ transplantation and heart transplantation is the scarcity of organs for transplant. Only a minority of patients who would benefit receive transplants. According to the leading doctors in India, almost two lakh people in India would need heart transplants every year, but very few hearts reach at the right time. The number of heart donations is extremely low. The heart utilisation rate in 2015 was 19%, which increased to 33% in 2018. Thus, there is a national organ shortage and national organ wastage.
Patients with advanced heart failure have a poor prognosis, and a heart transplant is still the best treatment option. However, the scarcity of donors, long waiting times, and an increasing number of unstable patients have favoured the development of mechanical circulatory support.
The chronic shortage of heart donors has also led to extend the age limits of donors in certain areas. China's organ donation rate is one of the lowest in the world despite a growing number of donation cases in recent years following the organ transplant reform. According to China's health authorities, the country reported 2,999 organ donors in the first six months of 2018. Thus, the shortage of heart donors can be compensated by the temporary use of percutaneous mechanical circulatory support devices that can be a long-term support for patients suffering from heart failures. This advantage is likely to increase the adoption of this device in the coming years.
Due to the Covid-19 pandemic, the countries in APAC are expected to witness a huge challenge in healthcare industry. Due to growing COVID-19, healthcare professionals are taking precautions ensure that appropriate work practices are followed to prevent direct contact with infectious material, percutaneous injury and hazards related to moving heavy remains. In India, it has been reported the total number of confirmed cases has been increased to 33,000 with 1000 death. Similarly, in China, 84,400 confirmed cases and 4,600 deaths are reported. These numbers are changing owing to various factors such as the prevalence of chronic disease patients, surgeries, population density in regions, and other factors. Restrictive measures have been taken to control the spread of this pandemic. Moreover, due to surgeries, the number of COVID-19 numbers is also growing. This pandemic is affecting the business operation of the various key players operating in this region.
In terms of product, the intra-aortic balloon pumps segment held the largest share of the percutaneous mechanical circulatory support devices market in 2019 and is expected to dominate the market in 2027. The growth of this segment is attributed to the advantages such as better outcomes, rare complication rates, and low mortality rates. Moreover, these systems also have ability to increase the coronary blood supply. However, the short-term ventricular assist devices segment is anticipated to witness the fastest growth rate during the forecast period as these devices have comparatively low contra-indications and may remain in-situ in patients for a longer time than IABPs. Additionally, these devices are suitable to act as a single compensation to all the cardiac functions.
A few of the major secondary sources associated with the Asia Pacific percutaneous mechanical circulatory support devices market report are the World Health Organization (WHO), Malaysia Healthcare Travel Council, Government of India statistics, India Brand Equity Foundation (IBEF), Internal Affairs and Communications Ministry, National Center for Biotechnology Information (NCBI), and Australian Institute of Health and Welfare, among others.