Increasing acceptance of EP and large untreated patient population to drive
market, according to Millennium Research Group
WALTHAM, Mass., June 23 /PRNewswire/ -- The Chinese electrophysiology (EP) market will grow significantly over the next five years, driven by the increasing acceptance of EP ablation for the treatment of cardiac arrhythmias (a disorder that causes abnormal heart beats) and the large untreated patient population in China. According to Millennium Research Group's Chinese and Japanese Markets for EP Mapping and Ablation Devices 2008 reports, the Chinese EP market was valued at approximately $50 million in 2007 and will grow at a compound annual growth rate (CAGR) of 20% over the next five years. This pattern contrasts with the more mature Japanese market, which was valued at $140 million in 2007 and will grow at a CAGR of only 8% over the same period. EP procedure volume growth in Japan will be slower than in China, resulting in slower Japanese revenue growth.
The rapid growth in Chinese EP mapping and ablation devices is due to the rising life expectancy and increasing affluence in China, expanding the number of cardiac arrhythmia patients who can afford to undergo EP ablation treatment. Previously, these patients would have gone untreated, but with increasing wealth, the number of procedures is rising rapidly. Furthermore, EP ablation is fast becoming the primary treatment option for patients who do not respond to pharmaceutical therapy, particularly for those patients suffering from atrial fibrillation (AF), the most common type of cardiac arrhythmia. Because ablation has been identified as an effective treatment for AF, AF is the fastest-growing segment in the EP market.
"The growing popularity of EP ablation, particularly for AF, and the large untreated patient population will drive significant market growth in China," says Anuk Karunaratne, Senior Analyst at MRG. "AF ablation will also grow rapidly in Japan, but because treatment rates in that country are already higher than those in the emerging markets market expansion will not be as rapid."
The Chinese and Japanese Markets for Electrophysiology (EP) Mapping and Ablation Devices 2008 reports provide coverage of the diagnostic and ablation catheter markets and include coverage of all key industry competitors, including APT, Biosense Webster, CryoCath, C. R. Bard, Medtronic, and St. Jude Medical, among others. Global coverage of the EP markets also includes US, Europe, and Brazil.
About Millennium Research Group
Millennium Research Group (http://www.MRG.net), a Decision Resources, Inc. company (http://www.DecisionResources.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the health care sector. The company provides specialized industry expertise through published reports, ongoing Marketrack(TM) projects, and customized consulting services.
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|SOURCE Millennium Research Group|
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