A timely and unique growth opportunity exists for cardiovascular device manufacturers seeking to offset some of the tepid or declining growth they have been experiencing in the US and Western European markets. As a result, multinational cardiovascular device companies have been increasing their investments in emerging nations - and they are reaping the rewards, with demand for some cardiovascular devices increasing at solid double-digit rates in many emerging countries, including the BRIC nations (Brazil, Russia, India, and China) and Turkey.
Combined, these five emerging countries performed an estimated 2.2 million cardiovascular procedures in 2013 - including interventional cardiology procedures, cardiothoracic surgeries (eg, CABG surgery, heart valve procedures, congenital heart disease procedures, and procedures for aortic aneurysms), and cardiac rhythm management procedures (eg, pacemaker/defibrillator implantations and cardiac ablations) - and that number is projected to increase to more than 3.5 million by 2017, a compound annual growth rate of about 13%. China alone is responsible for nearly 60% of that total (about 1.3 million procedures in 2013) and also offers the highest growth rate of the five over the forecast period (16.8%).
Interventional cardiology procedures, heart rhythm procedures, and heart valve procedures (particularly minimally invasive valve procedures) are expected to exhibit the highest procedural growth over the next several years in these five nations, with solid double-digit growth rates anticipated for all of these procedure categories through 2017. These same categories also represent four of the top five cardiovascular markets by procedure volume, with percutaneous coronary intervention, accounting for more than 60% of that total.
Demand for cardiovascular devices in the BRIC nations and Turkey is expected to remain high over the next five years, driven by aging populations, expanding rates of diabetes and heart disease, an ongoing trend toward urbanization, and continued government investments in healthcare infrastructure. At the same time, these countries present some important challenges to foreign companies seeking to do business there, including weak patent laws, the potential for corruption, and disparities in access to healthcare.
This dynamic, new report from Life Science Intelligence offers a detailed look at the most promising future growth opportunities for cardiovascular device companies in the BRIC nations and Turkey. Included are analyses and comparisons of cardiovascular procedure volumes, growth rates, and market drivers/limiters for each country covered. The report also provides an overview of multinational cardiovascular device company strategies for penetrating these markets as well as an assessment of next-generation technologies, including "leadless" pacemakers and defibrillators and bioresorbable coronary stents, and their potential to further expand growth in emerging market regions.
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