BURLINGTON, Mass., March 10, 2014 /PRNewswire/ -- Decision Resources Group finds that the Asia Pacific heart valve device market will more than double through 2022 with the introduction of transcatheter heart valves. Already available in South Korea, these devices are expected to be launched in China and Australia this year and in India in 2016. Similar to what has been seen in the U.S. and Europe, the adoption of these expensive products into previously untreated patient populations will drive significant revenue growth for companies in this space. By 2022, this market will be valued at almost $815 million.
Other key findings from the Medtech 360 report entitled Asia Pacific Markets for Heart Valve Devices 2014:
- China and India have younger populations than South Korea or Australia. This will be reflected in a higher proportion of mechanical heart valve procedures, which are generally performed on younger patients.
- Demand for mechanical heart valve procedures will also be driven by high rates of rheumatic fever in China and India as well as among Australia's indigenous population. This is because rheumatic fever increases the risk of developing valvular disease, typically at a younger age.
- However, the market will continue to shift in favor of tissue heart valves, which are now being designed to be more durable—a previous key disadvantage of these products.
- The adoption of transcatheter heart valve procedures will be particularly faster in Australia, where physicians are better trained to perform these treatments. Despite a lack of physician training in South Korea, adoption will be similar, primarily driven by a general reluctance among older patients to undergo open heart surgery.
Comments from Decision Resources Group Analyst Leila Bautista:
- "A lack of training continues to be a problem in the Asia Pacific region. This will hinder the adoption of transcatheter heart valve devices—which are associated with a steep learning curve—as well as adoption of heart valve repairs. While there is a preference to preserve the native heart valve, a repair is more complex compared to a replacement."
- "While Medtronic and Edwards Lifesciences are both positioned to be leaders in the emerging Asia Pacific transcatheter heart valve device market, Medtronic holds a key advantage due to its strong recognition in the region from its broader portfolio of cardiology devices. In particular, Medtronic has strong on-the-ground infrastructure, including training centers."
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