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Rapid Growth in the Chinese Interventional Cardiovascular Device Industry

Date:12-11-2013

Interventional cardiology is the branch of cardiology that deals with non invasive procedures for diagnosis and treatment of cardiovascular diseases. Interventional cardiologists are mostly involved in treating narrowed arteries of the heart as well as weakened heart valves with the use of catheters. Catheters are thin flexible tubes which are used for repairing damaged blood vessels and performing diagnostic tests. Interventional cardiologists treat cardiovascular diseases such as peripheral vascular disease, coronary artery disease and heart valve disease.

Angioplasty, carotid stenting, percutaneous mitral valve repair, atherectomy and embolic protection are some of the most common procedures that are performed by interventional cardiologists. Catheter, guide wire, coronary stents, balloons, atherectomy device, vascular closure device, etc. are some of the most common devices used in interventional cardiology. As there is increase in the number of people suffering from heart diseases, the demand for interventional cardiovascular disease is also on the rise.

Outlook of the Interventional Cardiovascular Device Industry in China

The outlook of the market for interventional cardiovascular devices is quite good and by the year 2015, the global market is expected to reach a value of 15.7 billion USD. This represents a growth rate of 9.9% annually. Although North America and Europe are presently the largest market for such devices, the demand for interventional cardiovascular devices in Asian countries, particularly India and China is increasing dramatically. In China, there has been a sharp increase in the number of patients suffering from lifestyle related diseases, particularly cardiovascular diseases. It is one of the major causes of deaths in China, killing an estimated 3.5 million people annually. Patients and cardiologists are opting for interventional procedures for treating cardiovascular diseases as they are minimally invasive, requires less recovery time and are comparatively less painful. This has fueled the demand of interventional cardiovascular devices in China.

Of all the interventional cardiovascular devices, the demand for cardiovascular stents is the greatest. The market for cardiovascular stent in China witnessed a growth rate of 20.3% from 2007-2012.  In China, the number of percutaneous coronary intervention surgeries increased from 25000 to 531000 cases from 2002 to 2012. This increase in the number of surgeries has stimulated rapid growth in the market for interventional cardiovascular devices in China. Some other factors that have influenced the growth in the industry are increase in population, increased predisposition of Asians for heart diseases and increase in elderly population.

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