The size of the Prosthetic Heart Valves Market in the Asia Pacific is valued at USD 0.99 billion in 2022. It is estimated to be growing at a CAGR of 14.21% to reach USD 1.93 billion by 2027. This market is strongly driven by the growing medical tourism industry, increasing heart repair and transplantation surgeries, reimbursement scenarios, and technological advancements.
Additionally, factors such as unhealthy lifestyle, lack of physical activities that may cause different cardiac diseases, and pathological disorders are likely to accelerate the market growth in the Asia Pacific region during the forecast period. The growing population in this region, developing healthcare infrastructure, growing awareness for initial diagnosis, and treatment availability towards the heart valve disorders are further expected to propel the market growth during the forecast.
High costs of the heart valves and the associated treatments and development are majorly hampering the market growth. Strict regulations for the devices' approval, the shortage of experienced and knowledgeable professionals, and inadequate reimbursement issues are some of the key factors restraining market growth.
This research report on the Asia Pacific Prosthetic Heart Valves Market segmented and sub-segmented into the following categories:
Regionally, Asia-Pacific is expected to grow rapidly in the coming years, as is evident from the high CAGR value for the region. In addition to being the fastest-growing market, the region also has the third-highest market share only behind the likes in North America and Europe. The region's high growth rate can be attributed to the developing economies of China and India and the scope for research in the area. It is also much more comfortable for new companies to enter the market in the region.
The Chinese market is leading the Asia pacific prosthetic valves market during the forecast period due to the rising discretionary expenses, increasing the high incidence rate of heart valve diseases.
Noteworthy Companies leading the Asia pacific Prosthetic Heart Valves Market are Corvia Medical, CardioKinetix, Biomerics LLC, Lepu Medical Technology, XELTIS BV, Comed BV, HLT, Meril Life Sciences, SYMETIS SA, and Transcatheter Technologies GmbH.
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