China Interventional Cardiovascular Device Industry Size 2014 Market Analysis, Growth, Trends and Forecast 2017
Albany, NY (PRWEB) September 30, 2014 -- Affected by the implementation of “Regulations on the Centralized Procurement of High-value Medical Consumables”, purchase price of interventional cardiovascular devices will continue to decline, further squeezing profit margins of relevant companies. However, the substantial decline in prices will enable more patients to receive PCI, thus helping the industry maintain a fairly rapid growth rate. It is expected that the Chinese interventional cardiovascular device market will worth RMB41.2 billion by 2017.
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The prevalence of cardiovascular disease in China impacted by accelerated aging of population and changes in consumption concept, dietary habit, way of working and other lifestyles has been growing year after year, thereby promoting the development of domestic percutaneous coronary intervention (PCI) market. PCI cases in China totaled 454,505 in 2013, up 16.9% from a year earlier; meanwhile the interventional cardiovascular device industry there was worth RMB20.12 billion.
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At present, half of the Chinese interventional cardiovascular device industry is dominated by domestic companies led by MicroPort, Lepu Medical, Lifetech Scientific, and Dalian Yinyi. In 2013, 53.4% of the Chinese market was controlled by domestic companies, 31.2% by foreign counterparts represented by Johnson & Johnson, Medtronic, Boston Scientific, Abbott, B. Braun and Terumo, and 15.4% by those invested by Hong Kong, Macao and Taiwan.
Interventional cardiovascular devices in China include cardiovascular stent, catheter, guidewire, balloon, surgical auxiliary devices, etc., among which cardiovascular stent is predominant.
Cardiovascular stent: In 2013, the Chinese cardiovascular stent market equaled RMB11.2 billion, 78.8% of which was occupied by domestic drug-eluting stents. That same year, 686,000 units of cardiovascular stent were consumed in China, up 11.7% year on year, and drug-eluting stents accounted for 99.5%, indicating that the drug-eluting stent is gradually becoming an important device for interventional cardiovascular therapy.
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In addition, Abbott has developed biodegradable stents, which are sold in Europe; Lepu Medical is endeavoring to develop biodegradable stents, which are expected to be available on the market in 2017. Thanks to its excellent performance, biodegradable stents are likely to replace drug-eluting stents gradually in the future, thus becoming the main variety in domestic coronary stent market.
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Balloon catheter: In 2013, China’s demand for PTCA balloon catheter amounted to 1.186 million units, 500,000 of which were PTCA balloon catheters for dilatation. With rapid development of local PTCA balloon catheter producers represented by Lepu Medical, MicroPort and JW Medical, domestic PTCA balloon catheters increased its market share from 20% in 2009 to 40% in 2013.
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Degree of market attractiveness is explained through Porter’s five forces analysis and the most attractive market by geography is represented in the market attractiveness analysis section of this report. The global cardiovascular monitoring and diagnostic devices market is differentiated into six segments based on the product type. The products analyzed in this study are the ECG systems, cardiovascular diagnostics catheters, event monitors, holter monitors, implantable loop recorders and ECG management systems.
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The report also provides company shares and distribution shares data for the market category, and global corporate-level profiles of the key market participants, pipeline products, and news and deals related to the Cardiovascular Monitoring and Diagnostic Devices market wherever available.
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The report also provides company shares and distribution shares data for the market category, and global corporate-level profiles of the key market participants, pipeline products, and news and deals related to the Cardiovascular Monitoring and Diagnostic Devices market wherever available.
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