Michael Barbella, Managing Editor03.10.21
The increasing prevalence of cardiovascular disease in China will help propel the nation's interventional cardiology devices market through 2025 and allow the sector to remain Asia-Pacific's largest.
“Boston Scientific Corp., Terumo Corp., Medtronic plc, Abbott Laboratories, Lepu Medical Technology (Beijing) Co Ltd., and MicroPort Scientific Corp. are the leading players in China, together accounting for more than 70 percent of the interventional cardiology market in 2020,” said Shweta Yadav, Medical Devices Analyst at GlobalData.
GlobalData’s research reveals that the interventional cardiology devices market in China is expected to grow 4.7 percent annually between 2015 and 2025.
MicroPort Scientific Corp. is further trying to strengthen its presence in China by introducing innovative products such as the left atrial appendage (LAA) closure system. With many domestic and international patent applications, the LAA occluder is a key product for Microport Scientific Corp.
There is a huge potential for the interventional cardiology devices market in China as cardiovascular diseases are the major cause of morbidity and mortality in the nation. This is mainly due to increase in the geriatric population in China as the country's population is aging at a faster rate than almost all other countries in the Asia-Pacific region.
“Challenges such as high manufacturing cost, lack of awareness and insufficient medical resources in rural areas should be addressed to further drive the interventional cardiology devices market in China,” Yadav concluded.
“Boston Scientific Corp., Terumo Corp., Medtronic plc, Abbott Laboratories, Lepu Medical Technology (Beijing) Co Ltd., and MicroPort Scientific Corp. are the leading players in China, together accounting for more than 70 percent of the interventional cardiology market in 2020,” said Shweta Yadav, Medical Devices Analyst at GlobalData.
GlobalData’s research reveals that the interventional cardiology devices market in China is expected to grow 4.7 percent annually between 2015 and 2025.
MicroPort Scientific Corp. is further trying to strengthen its presence in China by introducing innovative products such as the left atrial appendage (LAA) closure system. With many domestic and international patent applications, the LAA occluder is a key product for Microport Scientific Corp.
There is a huge potential for the interventional cardiology devices market in China as cardiovascular diseases are the major cause of morbidity and mortality in the nation. This is mainly due to increase in the geriatric population in China as the country's population is aging at a faster rate than almost all other countries in the Asia-Pacific region.
“Challenges such as high manufacturing cost, lack of awareness and insufficient medical resources in rural areas should be addressed to further drive the interventional cardiology devices market in China,” Yadav concluded.