Market Research Report
Asia-pacific Peripheral Vascular Devices Market Forecast 2021-2028
|Asia-pacific Peripheral Vascular Devices Market Forecast 2021-2028|
Published: March 1, 2021
Content info: 144 Pages
Delivery time: 2-3 business days
The Asia-Pacific peripheral vascular devices market is anticipated to record a CAGR of 11.98% during the forecast period, 2021-2028. The rising prevalence of chronic diseases and the increasing disposable incomes are among the factors that contribute to the market growth.
India, South Korea, China, Japan, Australia & New Zealand, Vietnam, Indonesia, Thailand, and Rest of Asia-Pacific, are analyzed for the Asia-Pacific peripheral vascular devices market growth assessment. Peripheral arterial disease (PAD) is the narrowing of arteries, including thromboangitis obliterans and atherosclerotic PAD. In Japan, as per a study by Yukihito Higashi et al. in Circulation Journal 2016, almost 500,000 to 800,000 had atherosclerotic PAD. Most risk factors evaluated were hypertension, smoking, dyslipidemia, and diabetes mellitus. Moreover, the aging population is more prone to PAD. 28% of the Japanese population is elderly as per 2019 statistics World Bank data Japan. Advanced diagnosis and intense treatments are required to enhance the quality and prognosis of life in the diabetic population, thereby adding burden to Japan's PAD market. The increasing demand for peripheral vascular devices, the aging population, and the high PAD prevalence facilitate market growth in Japan.
With the rising prominence of chronic diseases, Thailand is witnessing a development-associated health-risk transition. Diabetes mellitus (DM) is on the rise, becoming one of the most prevalent chronic diseases. The increasing number of diabetes patients is attributed to unhealthy diets, aging society, and obesity rates. Although the disease detection rate has improved in recent years, glycemic control is still suboptimal. Another major factor is smoking, contributing to 38% of CVD deaths. Such factors make Thailand a potential market for peripheral vascular devices.
Some of the market's leading companies include, Edwards Lifesciences Corporation, Cardinal Health Inc (CORDIS), Koninklijke Philips NV (Volcano), Medtronic Plc, etc.