Ames Gross According to the World HealthOrganization, more than 17 million people die from cardio

Ames Gross

According to the World HealthOrganization, more than 17 million people die from cardiovascular disease each year. More than 60 percent of these deaths occur in Asia, but the disease also is prevalent in India, China and Southeast Asia. As incomes grow in most parts of the Asia-Pacific region, the Asian lifestyle is getting increasingly unhealthy. Many Asians are eating more Western fast foods, smoking more and exercising less, which is giving rise to increased cardiovascular disease.

Currently, increased focus on the prevention, diagnosis and treatment of cardiovascular disease in Asia is fueling high demand for cardiovascular medical devices. The market for cardiovascular medical devices in Asia is worth about $12 billion and is projected to grow 10-12 percent a year for the foreseeable future. Asia’s share of the cardiovascular device market comprises about 30 percent of the global market value. However, this percentage likely will grow to 35 percent throughout the next decade.

Cardiovascular devices in Asia generally are grouped as (1) cardiac rhythm management, or (2) cardiovascular monitoring and diagnostic equipment.

Cardiac rhythm management devices, which include pacemakers and implantable cardioverter defibrillators (ICDs), account for about a third of the total cardiovascular device market in Asia. A large percentage of high-tech cardiovascular devices in Asia are imported from the United States and Europe. Large U.S. cardiovascular device companies such as Medtronic Inc., Boston Scientific Corp. and St. Jude Medical have a strong presence in Asia for ICDs.

Demand for cardiovascular devices in Asia is growing strongly in largely populated countries such as China and India. With 1.3 billion people, China has a gradually aging population that is experiencing higher incidences of cardiac arrhythmias and heart failures.China has more than 20 million patients afflicted with coronary artery disease. A growing trend in China is the use of high-end interventional cardiovascular devices in lieu of complicated heart surgeries for serious cardiac ailments.This will lead to higher demand for interventional cardiology surgery equipment and devices such as coronary stents. International companies with strong brands dominate the market for sophisticated cardiovascular medical devices in China, with an 80 percent share.

Large foreign medical device companies such as St. Jude Medical have been in the Chinese market since the 1990s. Currently, there also is a growing number of research and development (R&D) and technology centers established by foreign companies. Recently, St. Jude inaugurated its Technology Center for Physicians in Beijing. This facility provides education and training to local Chinese physicians on the use of the company’s products in cardiology, cardiac surgery and arrhythmia management. There also are some local Chinese medical device companies that now are making Class III cardiology products. A few local companies have started their own R&D and have technological joint ventures with their Western counterparts.Notable local Chinese cardiovascular device companies are Shanghai-based MicroPort Scientific and Beijing-based Lepu Medical Technology.

The market for cardiovascular devices in India is smaller than that in China. This primarily is due to India’s lower healthcare standards and inadequate government facilities to treat cardiovascular diseases. While Indian government healthcare spending is low, cardiovascular device companies can look to the large private sector for growth. Driven by the private healthcare sector, the total market for medical devices in India is worth about $3

billion, and cardiovascular devices account for approximately one-third of this value.

Demand for cardiovascular devices in India’s private healthcare market is driven by recent advancements toward more sophisticated cardiovascular monitoring and treatment systems in private hospitals. There is good potential for sales of medical devices used in diagnosing and treating coronary artery disease, rheumatic heart disease and congenital heart disease among infants.

In a rapidly aging population such as Japan, cardiovascular disease is more prevalent among the elderly. However, there also is a growing number of younger smokers and diabetic patients in Japan who are afflicted with cardiovascular disease. High healthcare standards and the availability of government healthcare funding for retirees currently are driving the demand for interventional cardiology devices in the land of the rising sun. More elderly people in Japan also are opting for diagnostic angiography procedures, leading to growth of diagnostic catheters in the country.