TORONTO, Dec. 19, 2013 /PRNewswire/ -- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the Chinese heart valve device market will exhibit strong growth through 2022. Similar to the more mature United States (US) and European markets, growth will be driven by an aging population as well as the adoption of transcatheter heart valves, although the Chinese market will be further bolstered by strong economic expansion.
Transcatheter heart valve devices, which are emerging globally to disrupt the traditional heart valve device market, are set to enter the Chinese market in 2014. Both Edwards Lifesciences' SAPIEN and Medtronic's CoreValve transcatheter aortic valve replacement (TAVR) devices are anticipated to enter the market that year, and Edwards Lifesciences may therefore not enjoy the first-mover advantage that it has benefited from in the US. Abbott Laboratories' MitraClip will be the first transcatheter mitral valve repair (TMVR) device to launch in China, reaching the market in 2016. By 2022, TAVR devices will generate $130 million and TMVR devices will generate $50 million in revenue in the country. These procedures will first emerge in Beijing and Shanghai before spreading inland, with procedure volumes concentrated in cities with prestigious medical schools.
"One unique feature in the Chinese market is the high usage of mechanical heart valves," said MRG Analyst Darren Lin. "These valves have fallen out of favor in the US and Europe because they require life-long anticoagulant therapy. However, their low cost has maintained their popularity in '/>"/>
SOURCE Millennium Research Group
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