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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).

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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
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SOURCE Millennium Research Group
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