Asia Pacific Interventional Cardiology Device Market Will Continue to Grow Strongly Through 2022, Especially in China and India

BURLINGTON, Mass., July 9, 2014 /PRNewswire/ -- Decision Resources Group finds that the market for interventional cardiology (IC) devices still holds considerable potential for growth in the Asia Pacific, despite stagnating in recent years in the United States and Europe. This is particularly true in China and India, where expanding economies are allowing the governments to direct more money to improving health care infrastructure and physician training.

Other key findings from Decision Resources Group's coverage of the Asia Pacific market for IC devices:

• Procedure volumes: Percutaneous coronary intervention (PCI) volume growth will decelerate through 2022; China's PCI growth rates in particular will come down from historic highs, with only single-digit procedure growth from 2018 onward. However, total PCI volumes will still more than double in the Asia Pacific region by 2022.
• Reducing overstenting: Intravascular imaging catheters and pressure guidewires are gaining attention in the Asia Pacific because these devices can help reduce cases of overstenting, which has become a greater concern globally. There has been a particular push to reduce overstenting in Australia and China, resulting in especially strong adoption of these technologies in these countries.
• Declining prices: Prices will decline in each of the Asia Pacific countries through 2022. In China, the tendering process for device purchasing is driving prices down, while in South Korea, strict reimbursement policies restrict device pricing. China and India also have strong presences of low-cost domestic manufacturers. Even in Australia, where domestic competition is less of a factor, there is significant pressure from the government to reduce health care costs and therefore device pricing.

Comments from Decision Resources Group Analyst Darren Lin:

• "Currently, bioresorbable vascular scaffolds (BVS) are only available in India of the Asia Pacific countries. However, Abbott, the first-mover in this space, is anticipated to receive approval for its ABSORB stent in Australia in late 2014, South Korea in 2015 and China in 2016. Although this technology has gained significant interest, more clinical evidence is needed before the use of BVS becomes widespread."
• "MicroPort Medical, a Chinese manufacturer, has managed to lead the large Chinese drug-eluting stent (DES) market despite strong competition from well-recognized major international manufacturers. The company is also currently promoting its next-generation Firehawk DES; however, similar to BVS, more clinical evidence is required to prove the validity of this technology, which features a dissolving polymer coating."

Additional Resources:

• Darren Lin has written a Medtech 360 report on this subject entitled Asia Pacific Markets for Interventional Cardiology Devices 2014.
• Decision Resources Group's Marketrack, which provides market share data by brand for the IC device market, can be found here.

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 
[email protected] 

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SOURCE Decision Resources Group

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