18 May 2021
Posted in Medical Devices
China will continue to account for about 50% of oxygenators market in Asia-Pacific through 2025, says GlobalData
China, which accounted for about 50% of the oxygenators market in the Asia-Pacific (APAC) region in 2020, is expected to retain this share through 2025, according to GlobalData, a leading data and analytics company.
GlobalData’s latest report, ‘Perfusion Disposables (Cardiovascular Devices) – Global Market Analysis and Forecast Model (COVID-19 Market Impact)’ reveals that Terumo Corp was the leader in the Chinese oxygenators market, followed by Getinge AB in 2020. Together, these companies accounted for around 85% of the market last year.
Mohit Agarwal, Medical Devices Analyst at GlobalData comments: “Increasing prevalence of cardiovascular diseases such as angina pectoris, myocardial infraction, congenital heart disease, pulmonary thromboendarterectomy, pericardiectomy and aneurysms are the major factors driving the demand for oxygenators in China. The majority of coronary artery bypass grafting procedures being off-pump in China is further complementing the oxygenators market growth.”
Improvements in Chinese healthcare infrastructure is expected to lead to higher diagnosis of cardiovascular diseases and corresponding increase in cardiovascular surgeries performed. This is expected to further drive the demand for oxygenators in China.
Mr. Agarwal concludes: “The oxygenators market experienced a marginal decline in 2020 compared to 2019 due to the COVID-19 pandemic and lockdown implications in certain parts of China. However, as things have returned to normal in Q4 2020, the number of cardiovascular procedures performed have resumed to normalcy. As other Asian countries such as India continue to fight against the pandemic, China’s early recovery might further consolidate its dominant position in the region.”