APAC Cardiovascular Devices Market

APAC Cardiovascular Devices Market Size (2023 to 2028)

The size of the APAC cardiovascular devices market was valued at USD 11.94 billion in 2023. This value is further estimated to be growing at a CAGR of 9.18% from 2023 to 2028 and worth USD 18.53 billion by 2028.

The APAC regional market growth for cardiovascular devices is projected to be driven by the factors such as the increasing prevalence of cardiovascular diseases and the growing population across the region.  The senior population is more associated with cardiovascular diseases. Therefore, the rising prevalence of these diseases in emerging countries such as China and India significantly contributes to the region's market growth. For instance, according to the Global Burden of Disease, nearly a quarter (24.8 percent) of all deaths in India is due to CVDs. 

Lack of exercise and a poor diet, such as a high-fat, high-calorie diet, raise the risk of cardiovascular disease (CVD). Obesity affects 18.5 percent of children aged 2 to 19 years. At the same time, overall obesity rates continue to be greater than a generation ago. Therefore, lack of exercise, an unhealthy diet, and a significant increase in the obese population are projected to increase cardiovascular disease in the region's population. 

Cardiovascular disease (CVD) is the primary cause of death in China, posing a significant burden. Approximately 106 million CVD patients in China, with 33 million suffering from a stroke; this study provides disease control and prevention data by presenting the most recent cardiovascular mortality in China in 2019.

On the other hand, factors such as expanding population, adopting sedentary lifestyles, and rising obesity incidence impact market growth. Obesity is a significant problem that affects people of all ages and income levels. Obesity and overweight refer to improper or excessive fat accumulation in the body, which causes health problems that lead to cardiovascular diseases, thereby influencing the demand for market growth.

Furthermore, the regional players' increasing acquisitions, mergers, and collaborations significantly expand the APAC regional market growth. Additionally, growing investments and funding by the government and non-government organizations for R&D, product advancements, and infrastructure improvement in this region support market growth.

On the other hand, the cardiovascular devices market in the APAC region is expected to be restrained by the factors such as the unavailability of skilled professionals and limited financial resources in some parts of the region. Also, device maintenance costs and stringent regulatory product approval procedures are further predicted to hamper the market growth. 

This research report on the APAC cardiovascular devices market has been segmented and sub-segmented into the following categories.

By Product:

• Diagnostic and Monitoring
  • ECG
  • Holter Monitors
  • Event Monitors
  • Implantable Loop Recorders
  • Echocardiogram
  • Pet Scan
  • MRI
  • Cardiac CT
  • Doppler Fetal Monitors
• Surgical Devices
  • Pacemakers
  • Stents
  • Catheters and accessories
  • Guidewires
  • Cannulae
  • Electrosurgical Procedures
  • Valves
  • Occlusion Devices

By Country:

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC

The Asia Pacific is estimated to grow significantly during the forecast period, and the regional market growth is attributed to the improving healthcare infrastructure, growing population, advances in science and technology, and development of minimally invasive treatment procedures.  

China held the largest APAC cardiovascular devices market share in 2022 and is likely to continue its growth during the forecast period. Technological advancements in the healthcare sector, increasing research and development activities, the growing geriatric population, and the increasing prevalence of cardiovascular diseases are propelling the market in the country. 

Similarly, the Indian cardiovascular devices market is expected to have a promising share in the APAC market. In India, the prevalence of CVDs is substantially higher. Therefore, government initiatives that promote market expansion are encouraging. However, sophisticated private specialty hospitals in major cities across the country offer effective CVD therapy. In addition, various private hospitals such as Apollo and Fortis and hospitals run by government entities have CVD treatment capabilities in India.

KEY MARKET PLAYERS:

Abbott Laboratories, Boston Scientific Corporation, Cardinal Health Inc., GE Healthcare, WL Gore & Associates Inc., Medtronic PLC, Biotronik, Siemens Healthineers AG, Canon Medical Systems Corporation, Edwards Lifesciences, B. Braun Melsungen AG, and Livanova are a few of the prominent companies operating in the APAC cardiovascular devices market profiled in this report.