BURLINGTON, Mass., Nov. 5, 2014 /PRNewswire/ -- Decision Resources Group finds that the Asia Pacific electrophysiology (EP) mapping and ablation device market will grow strongly through 2023 to reach nearly $1.3 billion. Growth will be driven primarily by economic expansion in China and India, a growing prevalence of cardiac arrhythmias and increasing treatment of complex arrhythmias, such as atrial fibrillation.
Other key findings from Decision Resources Group's coverage of the Asia Pacific EP mapping and ablation device market:
- Large Chinese market: The Chinese market will generate the majority of revenue in the Asia Pacific market through 2023 and will also grow at one of the fastest rates. Brisk procedure volume growth is being spurred by factors such as increasing government investment in health care, improved access to care through rising incomes and the rising prevalence of risk factors for cardiac arrhythmias.
- Device reuse in India: While India will similarly benefit from increasing government investment in health care and growing disposable incomes, this market is not as attractive for manufacturers. This can be attributed to the high reuse rates in India in response to cost constraints, which has severely limited revenues in the country.
- Procedure volumes in Australia and South Korea: Procedure volume expansion in South Korea and Australia will be slower than in China and India. The Australian market is fairly mature, and the penetration of EP procedures is therefore already fairly high. In South Korea, a restrictive reimbursement environment will limit procedure volumes to some extent.
Comments from Decision Resources Group Principal Analyst Sean Messenger:
- "In China, the National Health and Family Planning Commission has recently announced a policy that favors local manufacturers in an effort to curtail health care spending. This policy will benefit companies like Access Point Technologies (APT) and MicroPort Medical, which have already been gaining popularity in China at the expense of large multinational companies."
- "However, large multinational competitors like Biosense Webster and St. Jude Medical will continue to lead the Chinese market in the coming years. Local manufacturers typically focus on simpler EP mapping and ablation devices, such as conventional catheters. Advanced technologies such as cryoablation catheters or loop diagnostic catheters will therefore continue to be solely offered by the large multinational companies."
- Decision Resources Group has published a Medtech 360 report on this subject entitled Asia Pacific Markets for Electrophysiology Mapping and Ablation Devices 2015.
- Decision Resources Group's Marketrack, which provides market share data by brand for the EP mapping and ablation device market, can be found here.
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