Healthcare improvements drive China’s oxygenators market
The country is expected to maintain a 50% market share in APAC through 2025.
Improvements in Chinese healthcare infrastructure can further drive the demand for oxygenators in China, as this will lead to higher diagnosis of cardiovascular diseases and corresponding increase in cardiovascular surgeries performed, according to a GlobalData report.
China, which accounted for about 50% of the oxygenators market in Asia-Pacific in 2020, is expected to retain this share through 2025. This is despite a marginal decline in 2020 compared to 2019 due to the pandemic, said GlobalData’s medical devices analyst Mohit Agarwal.
“However, as things have returned to normal in Q4 2020, the number of cardiovascular procedures performed have resumed to normalcy,” Agarwal said.
A growing prevalence of cardiovascular diseases such as angina, heart attacks 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,” Agarwal said.