China Cardiovascular Devices Market - Growth, Trends, and Forecast (2019 - 2024)

China Cardiovascular Devices Market - Growth, Trends, and Forecast (2019 - 2024)

  • May 2019 •
  • 87 pages •
  • Report ID: 5778477 •
  • Format: PDF
Market Overview
The China cardiovascular devices market was valued at USD 2837.61 million in 2018, and it is expected to reach USD 4468.02 million by 2024, with an anticipated CAGR of 7.86% during the forecast period, 2019-2024.

The increasing incidence of cardiovascular diseases and the growing geriatric population are the most significant factors driving the growth of the market.

According to a report by the United Nation Economic and Social Commission for Asia and the Pacific (ESCAP), the geriatric population in the Asia-Pacific region was around 617.1 million in 2015, accounting for more than half of the world’s total elderly population. By 2050, Asia-Pacific is estimated to account for almost two-thirds of the world’s geriatric population. Furthermore, China’s population is aging at a faster rate than almost all other countries of the Asia-Pacific region, which is in part due to the long run of China’s one-child policy and the dramatic increase in healthcare facilities. According to the government estimates, the geriatric population may peak at more than 450 million geriatric citizens, by 2050.

The aging process is commonly associated with increased vascular rigidity and decreased vascular compliance. Elderly patients have a high risk of developing cardiovascular disorders, such as peripheral arterial disease (PAD), aortic disease, and venous thromboembolism (VTE). This is primarily due to age-related alterations in vascular structure and rigidity, further compounded by longer exposure to cardiovascular disease (CVD) risk factors. Furthermore, other factors, such as the rapid technological advances, increasing awareness of the population, and high preference for minimally-invasive procedures, are also supplementing the market growth.

Scope of the Report
By device type, the market is segmented into diagnostic and monitoring devices and therapeutic and surgical devices sub-segments. Moreover, the diagnostic and monitoring devices segment is further subdivided into an electrocardiogram (ECG), remote cardiac monitoring, and other diagnostic and monitoring devices. Similarly, the therapeutic and surgical devices segment is subdivided into cardiac assist devices, cardiac rhythm management device, catheter, grafts, heart valves, stents, and other therapeutic and surgical devices.

Key Market Trends
ECG Dominated The Diagnostic and Monitoring Segment.

On the diagnostic and monitoring front, the new generation of portable and compact ECG are driving their greater adoption, especially in the home healthcare segment. The rising awareness and demand for minimally-invasive surgeries are driving the demand for coronary stents and valves. Furthermore, increasing incidence rates of cardiovascular diseases, such as arrhythmias, stroke, and high blood pressure, are driving the demand for cardiac rhythm management devices, including pacemakers and implantable defibrillators.

Competitive Landscape
Several local players, along with global medical device manufacturers. operate in the Chinese market. Local players dominate in the stent, catheter, and graft segments. However, the quality of products from global companies is perceived as superior. Thus, the premium segment of the cardiovascular devices market is dominated by global manufacturers.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client’s requirements
- 3 months of analyst support
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