The Asia Pacific Prosthetic Heart Valve Market would witness market growth of 11.2% CAGR during the forecast period (2022-2028).
Valve replacement is becoming more common all over the world, and it has drastically improved the outcomes of valvular heart disease patients. Bioprosthetic valves have a good hemodynamic function, but they are prone to structural valve deterioration, which necessitates reintervention. Mechanical valves, on the other hand, provide long-term durability but necessitate lifelong anticoagulation, which carries the risk of bleeding and thrombosis. The benefits and risks of each type of prosthetic valve should be carefully considered, and patient preference should be considered as part of a joint decision-making process.
Framework-based surgical valve transplant or transcatheter implant of a prosthetic heart valve has been linked to enhanced survival and symptom reduction in patients with acute valvular heart disease. Mechanical and bioprosthetic, also known as tissue, valves are two types of prosthetic heart valves that are designed to mimic the function of native valves by ensuring unidirectional blood flow. Every type has its own set of drawbacks and benefits.
A significant scale of geriatric population in the region is one of the major factors that are driving the growth of the regional market. China's elderly population is expanding at a faster rate than the rest of the countries' population. The number of people over the age of 65 increased from 42 million in 1953 to 72 million in 1978. The aged population in cities is expanding at a faster rate than the old population in rural areas. China's old population was expected to increase to 11% by the end of the century and 20% by 2025. A higher quality of living and health care, a lowering birth rate, longer life expectancy, and an aging population born in the last 30 years are all factors contributing to the rise in the old population.
In addition, In the last 50 years, India, the world's second most populous country, has seen a tremendous demographic shift, with nearly a tripling of the citizens over the age of 60. This trend is likely to continue. The number of Indians aged 60 and older is expected to climb from 7.5% to 11.1% in 2025, according to projections (United Nations Department of Economic and Social Affairs. India had more than 91.6 million elderly in 2010, according to UNDESA data on the projected population age structure, with an annual addition of 2.5 million elderly between 2005 and 2010. The elderly population in India is estimated to reach 158.7 million in 2025 surpassing the population of children under the age of 14 by 2050.
The China market dominated the Asia Pacific Prosthetic Heart Valve Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,123.1 million by 2028. The Japan market is anticipated to grow at a CAGR of 10.6% during (2022 - 2028). Additionally, The India market would showcase a CAGR of 11.9% during (2022 - 2028).
Based on End User, the market is segmented into Hospitals & Cardiac Centers and Ambulatory Surgical Centers & Others. Based on Product, the market is segmented into Transcatheter, Tissue, and Mechanical. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Prosthetic Heart Valve Market is Projected to reach USD 13.3 Billion by 2028, at a CAGR of 10.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Boston Scientific Corporation, Medtronic PLC, Abbott Laboratories, Meril Life Science Private Limited, Colibri Heart Valve LLC, Artivion, Inc., TTK Healthcare Limited, Edwards Lifesciences Corporation, JenaValve Technology, Inc., and Micro Interventional Devices, Inc.
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