Underpenetrated Chinese Cardiac Rhythm Management Device Market Will Expand To Over $1.1 Billion by 2022 - 8NEWS - WRIC | News Where You Live

Underpenetrated Chinese Cardiac Rhythm Management Device Market Will Expand To Over $1.1 Billion by 2022

Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact pressreleases@worldnow.com.

SOURCE Decision Resources Group

Cardiac Resynchronization Therapy Devices Will Experience the Fastest Growth, According to Findings from Decision Resources Group

BURLINGTON, Mass., May 6, 2014 /PRNewswire/ -- Decision Resources Group finds that cardiac rhythm management (CRM) device implantations in China will expand strongly through 2022 as the population ages and the incidences of obesity and hypertension rise with more affluent, sedentary lifestyles. Improving health care infrastructure and reimbursement will also bring these procedures within reach of a larger proportion of the Chinese population. As a result, the market will grow to over $1.1 billion by 2022.

Decision Resources Group Logo

Other key findings from the Medtech 360 report entitled Chinese Markets for Cardiac Rhythm Management Devices 2014:

  • Underpenetrated Chinese market: The highly underpenetrated Chinese CRM device market is poised for significant growth, which is a stark contrast to developed CRM device markets like the United States and Europe, which are mature and fairly stagnant. For example, there were approximately 50 pacemakers implanted per million people in China in 2013 compared to approximately 1,000 pacemakers per million people in the U.S. that year.
  • Cardiac resynchronization therapy: Cardiac resynchronization therapy (CRT) devices designed for heart failure are particularly new in China and therefore there exists a large potential patient pool. Although the high prices of these products will somewhat limit demand, the CRT device market will grow the fastest of the CRM device markets through 2022.
  • Declining prices: Although new products are being introduced in the Chinese CRM device market, aggregate prices will decline through 2022. This is due largely to the competitive government tendering process for medical device procurement in China.

Comments from Decision Resources Group Analyst Darren Lin:

  • "Lepu Medical Technology was the only local competitor in the Chinese CRM device market in 2013, selling its products under the brand name Qinming. This is due to both the lack of technical expertise in China to manufacture these devices as well as general distrust among Chinese physicians and consumers regarding the quality and safety of devices sold by local manufacturers."
  • "Leadless pacemakers, expected to enter the Chinese market around 2018, are a major innovation in the pacemaker market because they can be implanted percutaneously. As a result, they will see strong adoption upon approval. By contrast, subcutaneous implantable cardioverter defibrillators, expected in China in 2017, are not anticipated to have a major market impact because these products are only appropriate for a small patient group and have disadvantages such as their larger size and shorter battery life."

About Decision Resources Group

Decision Resources Group offers best-in-class, high-value information and insights on critical issues within the healthcare industry. Clients rely on this analysis and data to make informed decisions. Find out more at www.DecisionResourcesGroup.com.

All company, brand, or product names contained in this document may be trademarks or registered trademarks of their respective holders.

For more information, contact:

Decision Resources Group 
Christopher Comfort 
781-993-2597  
ccomfort@dresourcesgroup.com

Logo - http://photos.prnewswire.com/prnh/20130103/MM36768LOGO

©2012 PR Newswire. All Rights Reserved.

Powered by WorldNow

301 Arboretum Place, Richmond
VA, 23236

Telephone: 804.330.8888
Fax: 804.330.8881
Email: news@wric.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.