|By PR Newswire||
|March 5, 2014 10:01 AM EST||
BURLINGTON, Mass., March 5, 2014 /PRNewswire/ -- Decision Resources Group finds that growth in the Chinese electrophysiology (EP) mapping and ablation device market will largely be driven by the expansion of the middle class in China, which has led to a rise in the number of people who seek out treatment for atrial fibrillation (AF). Expanding government health insurance and increasing reimbursement levels will also reduce out-of-pocket costs for patients and further support AF treatment volumes, while rising government investment in more advanced health care facilities will increase diagnosis and treatment capabilities for cardiac arrhythmias in general.
However, the EP market will be somewhat limited by pricing pressures from government cost-containment and increased competition. Tendering systems have been implemented to improve transparency and increase competition for medical device procurement. Strong local competitors with lower manufacturing costs will also drive down prices. There does remain a stigma associated with locally manufactured devices, and many affluent customers perceive devices manufactured by foreign competitors as being of higher quality.
"As a result of this perception, only two major local competitors had an appreciable presence in the market in 2013," said Decision Resources Group Analyst Darren Lin. "Biosense Webster, St. Jude Medical, C. R. Bard, Boston Scientific and Medtronic are large international companies with first-to-market advantages that have allowed them to gain physician confidence. These companies have broad portfolios of diverse technological offerings and a strong presence in multiple market segments. In addition, these companies are well established and the brands are familiar and recognizable to physicians, factors that have supported their strong market shares."
Decision Resources Group's Chinese Markets for Electrophysiology Mapping and Ablation Devices 2014 report includes procedure, unit, average selling price and revenue information, along with market drivers and limiters and a competitive landscape for EP diagnostic catheters and EP ablation catheters in the province-level municipalities, as well as the east coast, central and other regions of China. A current year snapshot is also shown by hospital tier and city tier.
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.
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