Navigation Links
Economic Growth In Latin America Fueling Strong Revenue Growth For Interventional Cardiology Devices
Date:5/2/2013

TORONTO, May 2, 2013 /PRNewswire/ -- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, favorable demographics and growing economies are the main factors spurring rising revenues in the Latin American interventional cardiology (IC) device market. Economic growth is contributing to increased public reimbursement coverage, which is essential in driving adoption of IC devices, especially more expensive drug-eluting stents (DES) and bioresorbable vascular scaffolds (BVS).

(Logo: http://photos.prnewswire.com/prnh/20130103/MM36799LOGO )

Unfortunately, reimbursement also has its downsides. In Brazil, public reimbursement for DES is expected to be introduced by mid-2013. As a result, the prices of DES and bare-metal stents (BMS) will be cut significantly as the government pressures manufacturers to lower their prices in order to accommodate government health care budgets. These cuts will have a strong impact in the short term because growth in DES unit sales will not yet be able to offset the price cuts. Because Brazil is the largest market in Latin America, dampened revenues in the country as a result of the price cuts will affect overall market trends.

"Drops in prices will impact short-term revenues," said MRG Analyst Mirel Giugaru . "The silver lining is that lower prices will ultimately improve the affordability of IC devices, which will drive adoption and lead to strong revenue growth in the long term."

Once BVS gain public reimbursement approval around 2016 to 2017, these devices will follow a similar adoption pattern as DES. The premium prices of BVS and lack of long-term clinical data will initially limit their uptake, but as prices decrease drastically to be more in line with the cost of DES as well as public health care budgets, BVS penetration will rise quickly at the expense of DES.  

Unlike other emerging markets, such as China and India, multinational competitors such as Boston Scientific, Abbott Laboratories and Medtronic face very little competition from local competitors in Latin America. As a result, they benefit from less competitive pricing pressure as well as equal footing in terms of approval times and physician loyalty.

Millennium Research Group's Latin American Markets for Interventional Cardiology Devices 2013 report includes unit, procedure, average selling price and revenue information, along with market drivers and limiters and a competitive landscape for coronary stents, percutaneous transluminal coronary angioplasty (PTCA) balloon catheters and accessory devices in Argentina, Brazil, Colombia and Mexico. Supplemental country coverage is also available for Chile, Peru, and Venezuela, as well as in aggregate for the rest of the Latin American countries.

About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources Group company (www.DecisionResourcesGroup.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.

About Decision Resources Group
Decision Resources Group is a cohesive portfolio of companies that offers best-in-class, high-value information, and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources Group at www.DecisionResourcesGroup.com.

All company, brand or product names contained in this document may be trademarks or registered trademarks of their respective holders.

For more information, contact:

Christopher Comfort
Decision Resources Group
781-993-2597
ccomfort@dresources.com

Alex Jablokow
Millennium Research Group
617-599-8613
ajablokow@mrg.net

 


'/>"/>
SOURCE Millennium Research Group
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Organogenesis to Present Large Retrospective Comparative Effectiveness Analysis and Health Economic Data in Chronic Wound Healing at The Symposium on Advanced Wound Care and Wound Healing Society Meeting
2. Analysis In Health Economics Review Concludes Effective Medical Obesity Treatment Could Reduce Medicare Spending
3. CHPA Statement on PSE Economic Study By AEI Fellow Alex Brill
4. Precision Health Economics Adds Executive Sales And Marketing Leader
5. CVS Caremark CEO Addresses Economic Club of Pittsburgh on Reinventing Pharmacy for Better Health
6. Philips transforms care to address the economic challenges faced by radiology departments and radiologists worldwide
7. Boston Healthcare Expands Health Economics, Pricing, and Reimbursement Consulting Practice in Asia
8. Frost & Sullivan: Respirator Manufacturers to Develop Innovative Solutions to Overcome Economic Challenges in North America
9. Brazilian Healthcare Industry Thrives in Favorable Socioeconomic Environment, Finds Frost & Sullivan
10. Ingenuity Systems Named 2013 World Economic Forum Technology Pioneer
11. Upcoming Presentations on Global Market Access Issues and Trends in Health Economics and Outcomes Research at ISPOR 2012 by Novel Health Strategies
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/5/2016)... Feb. 5, 2016  ivWatch, a medical devices company, is ... Award granted by Governor Terry McAuliffe,s office. ivWatch ... February 25th at an event to be held at the ... award honors professionals and business that have made significant contributions ... Logo - http://photos.prnewswire.com/prnh/20160205/330117LOGO ...
(Date:2/5/2016)... , Feb. 5, 2016 Aethlon Medical, Inc. ... , Chairman and CEO, will be presenting at Source Capital ... New York, NY at 2:15 p.m. ET on ... an Immunotherapy Panel discussion taking place at 3:15 p.m. ET. ... replay approximately one hour after the conclusion of the live ...
(Date:2/5/2016)... India , February 5, 2016 ... a new market research report "Fetal (Labor & Delivery) ... & Antepartum), Warmer, Incubator, Pulse Oximeter, Phototherapy/Jaundice Management Devices, ... published by MarketsandMarkets, This report studies the global market ... market is estimated at USD 6.28 Billion in 2015 ...
Breaking Medicine Technology:
(Date:2/6/2016)... IL (PRWEB) , ... February 06, 2016 , ... ... recovery phases of eating disorder treatment helps to reduce the frequency and level ... of the Recovery Phase: Re-Establishing Healthy Identity and Purpose,” will explore the critical ...
(Date:2/5/2016)... ... February 05, 2016 , ... Today, the Whole-Food Warrior TV ... the much-anticipated feature with author Jahnavi Foster, specialist in healthy vegetarian cuisine, will stream ... Each week, on his weekly Whole-Food Warrior TV show, Frank Davis highlights Whole-Food Warriors ...
(Date:2/5/2016)... ... February 05, 2016 , ... Francisco Canales, ... services in their Napa Valley office. The technique utilizes the body’s own healing ... Canales and Dr. Furnas, are part of only a select few cosmetic surgeons ...
(Date:2/5/2016)... (PRWEB) , ... February 05, 2016 , ... ... organization devoted exclusively to funding innovative lymphoma research and serving the lymphoma community ... is poised to once again host, Swirl, A Wine Tasting Event at the ...
(Date:2/5/2016)... ... February 05, 2016 , ... Regular gym users know the routine: each ... longer to access the treadmills. It’s a predictable trend. After the excesses of November ... get in shape by joining gyms, starting new walking or running routines, or signing ...
Breaking Medicine News(10 mins):