Market Trends of China Minimally Invasive Surgery Devices Industry
The Cardiac Segment is Expected to Hold a Major Market Share
- The clinical demand for treating severe aortic stenosis is expected to increase due to the aging population in China. China not only has the largest population on earth (with more than 1.4 billion people) but is also one of the countries with the fastest aging population.
- This is primarily due to decades of falling birth rates on the one hand and steeply rising life expectancy on the other. According to a survey by the United Nations, the share of the population older than 65 in China in 2035 is estimated to be 20.7% of its total population.
- Because of its large population base, China is facing a growing number of pediatric and adult CHD patients. Moreover, according to China CDC, it has been estimated that nearly 330 million patients suffer from CVD in China. The number of patients suffering from different heart diseases such as coronary heart disease, stroke, heart failure, pulmonary heart disease, atrial fibrillation, rheumatic heart disease, congenital heart disease, lower extremity artery disease, and hypertension is 11.39 million, 13.00 million, 8.90 million, 5.00 million, 4.87 million, 2.50 million, 2.00 million, 45.30 million, and 245.00 million, respectively.
- Therefore, with China getting challenged by the dual pressures of population aging and the steady rise in the prevalence of metabolic risk factors, the burden caused by CVD is likely to increase, which has set new requirements for CVD prevention and treatment and the allocation of medical resources in China.
- The regional companies are focusing on developing advanced products and expanding their product portfolio to cater to the complex requirements of a cardiac procedure. For instance, in January last year, Medtronic plc announced that the National Medical Products Administration (NMPA) had approved the CoreValve Evolut PRO TAVR (Transcatheter aortic valve replacement) system to treat severe aortic stenosis (AS) for symptomatic patients in China who are at high or extreme risk for open-heart surgery.
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Rising Chronic Diseases is Expected to Drive the Market Growth
- The World Bank projected that over 400 million Chinese people could be over 60 years old by 2050. With the rapid development of the economy, environmental changes, aging, unhealthy lifestyles such as tobacco use, unhealthy nutrition, and physical inactivity constantly spring up. Now, China is facing the formidable challenge of chronic diseases.
- Further, according to the National Center for Biotechnology Information research, focusing on chronic illness and aging in China, there is a progressive shift in the burden of disease to chronic Non-Communicable Diseases (NCDs).
- Almost 80% of deaths in China in people aged 60 years are from chronic NCDs, the most burdensome being Ischemic Heart Disease, Stroke, Chronic Obstructive Pulmonary Disease (COPD), and Type 2 Diabetes. Smoking, alcohol consumption, sedentary behavior, and poor dietary intake contribute significantly to these conditions.
- Additionally, according to the Chinese medical journal, it is estimated that the number of new cancer cases reached 19.3 million globally, and nearly 10 million people died from cancer in 2020. Furthermore, female breast cancer displaced lung cancer and became the most substantially diagnosed cancer for the first time. With the rising, increasing population and chronic diseases in the nation, the demand for minimally invasive surgical equipment is soaring.
