South & Central America Left Ventricular Assist Device Market

The South & Central America left ventricular assist device market is expected to grow from US$ 125.76 million in 2022 to US$ 162.02 million by 2028. It is estimated to record a CAGR of 4.3% from 2022 to 2028.

Untapped Potential in Emerging Economies to Propel Market Growth in Coming Years of the South & Central America left ventricular assist device market

Emerging countries such as Argentina and Brazil are expected to offer significant growth opportunities to companies in the LVAD market mainly due to their rising patient population, increasing R&D activities, growing CVD awareness, surging disposable incomes, improving healthcare infrastructure, and comparatively lenient policies compared to developed countries. Also, emerging markets have seen a sustained increase in heart failure cases over the past decade. According to the World Economic Forum, Brazil, Russia, India, China, and South Africa were among the fastest-growing economies globally as of 2017 and are expected to account for a third of total global health spending by 2022. In Argentina, the implantation of a HeartMate 3 HM3 (manufactured by Abbott Laboratories) was practiced on a 52-year-old patient with a history of left ventricular noncompaction and severe left ventricular dysfunction in December 2019. The number of hospitals and surgical centers in emerging markets is expected to grow due to increasing healthcare spending and a rising target patient population. Therefore, the development of healthcare facilities in developing economies in South & Central America, along with a surge in the number of hospitals, would trigger the adoption of LVADs in the coming years. Further, increasing competition among well-established companies compels them to focus on emerging markets, which is expected to create further growth avenues in the South & Central America left ventricular assist device market in the coming years.

South & Central America Left Ventricular Assist Device Market Overview

The South & Central America left ventricular assist device market consists of Brazil, Argentina, and Rest of SAM. Brazil held the largest share of the South & Central America left ventricular assist device market. The flourishing medical tourism sector and government initiatives to create awareness about modern healthcare products are the factors contributing to the left ventricular assist device market growth in South & Central America. Additionally, the rising prevalence of cardiovascular diseases, hypertension, and stroke propels the demand for these devices in the region. According to a report published by the Sociedade Brasileira de Cardiologia (SBC), heart failure (HF) is the major cause of hospitalization related to CVDs in Brazil, and ~1–2% of the population of 50% of these individuals have a decreased ejection fraction. Moreover, most of these patients are reluctant to standard treatment and hospitalization, and the rates of death or rehospitalization within 6 months of the first hospitalization are ~50%. A left ventricular assist device, also known as a continuous flow device, provides a constant flow of blood from the patient's heart to the body. The demand for left ventricular assist devices is substantially lower in Brazil, unlike the numbers reported in developed countries. Despite the evidence of improved survival and quality of life in patients undergoing LVD implantation, the direct and indirect costs for the therapy are still high. In addition, complications associated with the implantation procedure hinder the demand for LVADs in Brazil.

South & Central America Left Ventricular Assist Device Market Revenue and Forecast to 2028 (US$ Million)

South & Central America Left Ventricular Assist Device Strategic Insights

Strategic insights for the South & Central America Left Ventricular Assist Device provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

South & Central America Left Ventricular Assist Device Report Scope

South & Central America Left Ventricular Assist Device Regional Insights

The geographic scope of the South & Central America Left Ventricular Assist Device refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

South & Central America Left Ventricular Assist Device Market Segmentation

The South & Central America left ventricular assist device market is segmented into type of flow, design, application, and country.

Based on type of flow, the South & Central America left ventricular assist device market is segmented into non-pulsatile and pulsatile flow. The non-pulsatile segment registered the largest market share in 2022.

Based on design, the South & Central America left ventricular assist device market is bifurcated into implantable ventricular assist devices and transcutaneous ventricular assist devices. The implantable ventricular assist devices segment registered the largest market share in 2022.

Based on application, the South & Central America left ventricular assist device market is segmented into destination therapy, bridge to transplantation, bridge to candidacy, and bridge to recovery. The destination therapy segment registered the largest market share in 2022.

The South & Central America left ventricular assist device market, by country, is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the market share in 2022.

ABIOMED Inc; Abbott Laboratories; Medtronic Plc; LivaNova Plc; and Evaheart Inc are the leading companies operating in the South & Central America left ventricular assist device market.