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Asia-Pacific Oxygenators Market Forecast 2021-2028

KEY FINDINGS

The Asia-Pacific oxygenators market is estimated to develop with a CAGR of 5.80% during the forecasting period of 2021 to 2028. The increasing prevalence of chronic diseases such as cardiopulmonary conditions due to unhealthy eating habits and excessive tobacco consumption, the increasing awareness about oxygenators, and the extensive population base with low per capita income, are among the key factors accredited to the region's market growth.

MARKET INSIGHTS

The Asia-Pacific oxygenators market growth assessment includes the analysis of South Korea, India, Japan, India, Thailand, Australia & New Zealand, Vietnam, China, and the rest of the Asia-Pacific. The increasing burden of target diseases predominantly drives the market growth in India. According to a report published in 2019 by Prabha Desikan et al., in "Circulation: Cardiovascular Quality and Outcomes," cardiovascular diseases were the major cause of death in the country. The epidemiological transition was essentially attributed to the increasing prevalence of cardiovascular diseases and their risk factors across India. While 1 in 4 deaths in the country was due to cardiovascular illnesses, stroke and ischemic heart disease were responsible for over 80% of the burden.

Conversely, the COVID-19 pandemic has significantly raised the adoption of ECMO procedures in South Korea, thereby fueling the market for oxygenators in the country. The nation also observes an increasing incidence of respiratory ailments such as chronic obstructive pulmonary disease (COPD), with a 13% prevalence reported in people over the age of 40, as per the 2018 study published in Synapse KoreaMed. Thus, the abovementioned factors are expected to drive the market growth in the Asia-Pacific during the forecast years.

COMPETITIVE INSIGHTS

Leading firms operating in the market are Terumo Corporation, MicroPort Scientific Corporation, Nipro Corporation, Senko Medical Instrument MFG Co Ltd, etc.

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Asia-Pacific Oxygenators Market Forecast 2021-2028
Published By :Inkwood Research
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