China to lead APAC perfusion disposables market between 2019 and 2030, says GlobalData

The perfusion disposables market in China is expected to grow at a compound annual growth rate (CAGR) of 1.7% and lead the Asia-Pacific (APAC) market during 2019-2030, according to GlobalData, a leading data and analytics company.

GlobalData’s latest report, ‘Perfusion Disposables – Cardiovascular Market Analysis and Forecast Model’, reveals that China was the biggest market in the APAC region for perfusion disposables with around 45% revenue share in 2019, followed by India, Japan and Australia.

China is expected to show a momentary decline due to delay in the elective surgeries. However, the use of oxygenators in extracorporeal membrane oxygenation (ECMO) procedures, which is in high demand for the treatment of critically ill COVID-19 patients, will provide momentum to the perfusion disposables market.

Abhinav Purwar, Medical Devices Analyst at GlobalData, comments: “Terumo Medical Corp has established itself as the market leader in APAC as well as in China, owing to its focus on innovation of next-generation products and in-house development of products. It can very well be expected that the addition of advanced products to the existing portfolio will provide a competitive edge to the company.”

“As a result of upgradation of product portfolio and in-house production of oxygenators, the company would experience inflated profit margins. Market players like Medtronic plc, Maquet Holding BV & Co KG and LivaNova PLC will continue to invest to retain their market shares in the perfusion disposables market in China.”

Oxygenators are estimated to be around 70% of the total perfusion disposables market in China while custom tubing packs account for the remaining 30%.

Mr. Purwar concludes: “Increase in the number of cases with angina pectoris and myocardial infarction will be the major market driver in China. Additionally, the increasing numbers of coronary artery bypass graft, heart valves and congenital heart surgeries will also provide a strong potential for growth of the perfusion disposables market in the country.

“Since the majority of procedures performed in China are off-pump in nature, with the increasing number of critically ill COVID-19 patients and advancements in the disease detection and treatment methods, there is a huge potential for increase in the number of on-pump surgeries, further boosting the growth of the perfusion disposables market.”

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