The size of the Asia Pacific Wearable Cardioverter Defibrillator Market is estimated to hike at a healthy CAGR from 2023 to 2028.
The APAC wearable cardioverter defibrillator market is expected to rise significantly during the forecast period. During the forecast period, the increase in cardiovascular illnesses due to behavioral factors such as cigarettes, alcohol, poor food, obesity, and others will drive the APAC wearable cardioverter defibrillator market. According to the World Health Organization (WHO), cardiovascular illnesses are the leading cause of mortality, killing more than 31 percent of people globally. Furthermore, throughout the projection period, the APAC wearable cardioverter defibrillator market would benefit from raising public awareness of good cardiac health and increasing the number of sudden cardiac arrest (SCA) cases.
Furthermore, as individuals become older, they are more likely to have chronic conditions like heart attacks, driving the market need for better-quality treatment processes. Furthermore, the wearable cardioverter defibrillator market is fuelled by the fast expansion of the senior population in the Asia Pacific. For example, the World Health Organization (WHO) predicted that by 2030, the number of individuals over 60 years old will have increased by more than 55 percent, from 901 million to 1.4 billion.
The rising number of capital investments from both the private and governmental sectors is likely to increase spending in R&D, providing a substantial potential for market development.
During the forecast period, the wearable cardioverter defibrillator market is projected to be held back by a lack of provision to monitor atrial arrhythmias signals. Furthermore, a lack of public knowledge of abrupt cardiac arrests impedes market expansion. Problems with the use of wearable cardioverter defibrillator devices, on the other hand, are limiting the market's growth. These are the factors restraining the development of the APAC wearable cardioverter defibrillator market during the forecast period. Developing nations like India, China, etc., have little awareness of wearable cardiovascular defibrillation devices, hindering the market's growth. Furthermore, government regulations and a lack of adequately skilled professionals are expected to hamper market growth during the forecast period.
This research report on the Asia Pacific Wearable Cardioverter Defibrillator Market has been segmented and sub-segmented into the following categories.
By End User:
The market for defibrillators in APAC is one of the fastest-growing worlds. The region's healthcare sector is expected to grow dramatically, with significant developments in the defibrillator business in particular. As a consequence of adopting new gadgets and technological breakthroughs, the sector has risen tremendously. In addition, India, China, and Japan are medical tourism destinations for various countries due to cheaper surgery and treatment costs.
The Chinese defibrillators market is expected to dominate the APAC Defibrillators market during the forecast period. In China, technical improvements in the healthcare industry have created profitable growth prospects for the country's market participants. Furthermore, the government's expanding investments, the availability of improved infrastructure, and the growing senior population are all moving the industry forward.
Around 27 percent of Japan's entire population of 126 million individuals was over 65. By 2023, the population is forecast to drop to 123 million, with the senior population likely to rise. Heatstroke occurs more frequently in the elderly than in the younger population. According to the Institute for Health Metrics and Evaluation, around 0.2 million Japanese people suffer from ischemic heart disease. Ischemic heart disease impacted 3.5 million persons in the preceding decade; however, this number has risen to 3.7 million, fuelling market expansion.
KEY MARKET PLAYERS:
Companies such as LivaNova PLC (U.K.), Koninklijke Philips N.V. (Netherlands), ZOLL Medical Corporation (U.S.), Cardiac Science Corporation (U.S.), Physio-Control, Inc. (U.S.), Medtronic PLC (Ireland), St. Jude Medical, Inc. (U.S.), Boston Scientific Corporation (U.S.), BIOTRONIK SE & Co. KG (Germany), and Nihon Kohden Corporation (Japan) are playing a leading role in the Asia Pacific Wearable Cardioverter Defibrillator Market.
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