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Underpenetrated Chinese CRM Device Market Will Expand To Over $1.1 Billion by 2022

May 6, 2014 By the Associated Press

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.

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.”

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