Asia Pacific Cardiovascular Devices Market Growth Drivers and Forecast by 2027

The Asia Pacific cardiovascular devices market is expected to reach US$ 16,107.3 Mn in 2027 from US$ 8,852.6 Mn in 2018. The market is estimated to grow with a CAGR of 7.0% from 2019-2027.

The growth of the market is driven by the factors such as, increasing acquisitions and collaboration activities and increasing rate of obesity. However, the market is likely to slower down its growth due to the shortage of skilled workers in the region.

The cardiovascular devices is an emerging field in the medical industry and has led to various developments of the products, in the field of cardiology. Many of the market players are developing novel products in order to minimize the burden of cardiovascular diseases such as heart stroke, congenital heart disease, coronary artery disease, cerebrovascular heart disease, heart arrhythmia and rheumatic heart disease. These diseases can be treated using a variety of advanced medical devices such as pacemakers, left-ventricle assist devices and implantable cardioverter defibrillators. According to the World Health Organization (WHO), particular in South Asia, 97% increase in CVD deaths experienced from 1990 to 2013. In addition, in China, nearly 230 million people out of the country’s 1.3 billion currently suffer from CVDs. In 2015, Japan-based Nipro Corp. acquired Infraredx, a U.S. company that is specialized in building intravascular imaging devices. Moreover, BSP, Ltd., an Israeli device manufacturer, which is engaged in manufacturing heart monitoring equipment, has marketing its products throughout Southeast Asia. Recently, it teamed up with Schiller, a Swiss company, to sell a variety of ECG products to hospitals and healthcare providers in Asia. The products of these companies are used in the diagnosis and monitoring of various heart conditions. Additionally, MicroPort received market approval in Indonesia to launch its Foxtrot balloon catheter, in February 2016. In January 2016, Lepu announced that it was investigating opportunities to sell its pacemakers to the Indian market. Thus, the cardiovascular devices market is anticipated to grow due to increasing acquisitions and collaboration activities in the region.

China is expected to lead the market in the Asia Pacific region owing to rising prevalence of the cardiac diseases such as heart stroke and the development for the cardiovascular devices in the country. Factors such as high prevalence of smoking, unhealthy diet has also contributed to the rising incidences of the cardiovascular diseases. Moreover, the increasing awareness and rising health plans initiated by government helps to upsurge the market growth in the country. Therefore, considering the above mentioned factors the growth of the market in the country is likely to contribute largest share in the Asia Pacific region during the forecast period.

ASIA PACIFIC CARDIOVASCULAR DEVICES – MARKET SEGMENTATION

By Device

• Electrocardiography (ECG)
• Pacemaker
• Stent
• Defibrillator
• Cardiac Catheter
• Guidewire
• Heart Valve
• Event Monitor
• Others

By Application

• Coronary Heart Disease
• Sudden Cardiac Arrest
• Stroke
• Cerebrovascular Heart Disease
• Others

By End User

• Hospitals & Clinics
• Ambulatory Surgical Centers
• Cardiac Centers

By Geography

• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia

Company Profiles

• Medtronic
• Boston Scientific Corporation
• Abbott
• Biosense Webster, Inc. (Johnson and Johnson)
• General Electric Company
• Koninklijke Philips N.V
• Siemens AG,
• BD
• B. Braun Melsungen AG
• Edwards Lifesciences Corporation.

Asia Pacific Cardiovascular Devices Report Scope