Cardiovascular Devices are used in treating diseases related to the heart and the circulatory system. Cardiac Assist Devices are used to support the failing heart that cannot be managed with standard medical therapy. Mechanical Circulatory Support Devices replace or assist the pumping function of the ventricles. GlobalData uses proprietary data and analytics to provide a comprehensive report on the mechanical circulatory support devices market in South Korea. Buy the latest report here.
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In 2023, GlobalData’s Market Model methodology determined that the leading player in the mechanical circulatory support devices market in South Korea was Abbott Laboratories and Berlin Heart.
Understanding market size can be crucial to evaluate opportunities and make informed decisions about market entry and exit. Medical device companies can identify attractive segments in respective markets as well as develop marketing strategies based on forecasts for those segments.
Mechanical Circulatory Support Devices support the functioning of a weak heart by pumping blood. They can be used as a bridge to transplantation, for destination therapy, or as a bridge to recovery postcardiotomy. External/Paracorporeal Ventricular Assist Devices, Left Ventricular Assist Devices and Total Artificial Heart are tracked. Extracorporeal Membrane Oxygenators and Percutaneous Devices are not covered here. An External/Paracorporeal Ventricular Assist Device is a device that has a pump placed outside the body. An Implantable Left Ventricular Assist Device is a ventricular assist system intended for the treatment of end-stage heart failure. A Total Artificial Heart is a Prosthetic Device implanted into the body to replace the biological heart.
The mechanical circulatory support devices market in South Korea can expand or contract due to a variety of reasons including population demographics, disease incidence and prevalence, macroeconomic issues, and geopolitical considerations. Disruption to a market could be caused by a sudden, unexpected change in these factors, but it could also be driven by changes in clinical practice, leading to a change in diagnosis or treatment of patients, as part of a process to generally improve medical practice.
For the latest analysis of the market size mechanical circulatory support devices in South Korea, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Medical Intelligence Center Market Models are the gold standard of medical device market valuation, company share estimation and market trend forecasting. GlobalData uses a patient-based forecast model or installed base methodology to determine the market size for therapeutic indications and capital equipment expenditures. Estimates are based on a number of sources, including primary research—KOL and industry contact interviews—and secondary research, such as company reports, press releases, published articles, proprietary databases, and general news media.
