The Asia Pacific Market for Clot Management Devices Will Increase Strongly Through 2023 - KHGI-TV/KWNB-TV/KHGI-CD-Grand Island, Kearney, Hastings

The Asia Pacific Market for Clot Management Devices Will Increase Strongly Through 2023

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SOURCE Decision Resources Group

Increasing Investment in Infrastructure Will Improve Access to Clot Management Procedures for Rural Populations, According to Findings from Decision Resources Group

BURLINGTON, Mass., Sept. 4, 2014 /PRNewswire/ -- Decision Resources Group finds that all segments of the Asia Pacific clot management device market are increasing. The eligible patient population is underdiagnosed and undertreated in the region, facilitating strong growth through 2023.

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Other key findings from Decision Resources Group's coverage of the Asia Pacific clot management device market:

  • Investment in infrastructure: Historically, a lack of sufficient health care infrastructure has hindered clot management procedure volumes, especially given the short window in which these procedures need to be performed. Investment in health care infrastructure in all Asia Pacific countries will increase, however, providing better access to rural populations and driving procedure volumes.
  • Reimbursement in South Korea: Uptake of new devices will be delayed in South Korea because a device must go through separate approval processes for device use and reimbursement. The latter process can take years and requires strong evidence of clinical efficacy. If a device does not attain reimbursement, physicians are unlikely to use it.
  • Lack of prophylactic IVCF use: The inferior vena cava filter (IVCF) market is unlikely to shrink to the same extent as in the United States because most of the procedural declines in the U. S. stem from prophylactic device use. IVCFs are not used for this indication in the Asia Pacific region. However, more similar to the U.S. market, the IVCF market in Asia Pacific will trend toward retrievable devices.

Comments from Decision Resources Group Analyst Beata Blachuta:

  • "Technological developments are critical in the Asia Pacific clot management device markets, particularly in the more mature Australian and South Korean markets. To bypass the significant time and resources required to develop a new device, many large companies will look to acquire innovative technology from other competitors. For example, Boston Scientific's acquisition of Bayer HealthCare's interventional unit-including the AngioJet suite of thrombectomy devices-will position Boston Scientific for strong revenue growth in the future."
  • "In South Korea, local competitors will have significant opportunity for success here because there is a strong cultural preference for locally made products. Likewise, local competitors in China enjoy an advantage over foreign companies because they can navigate the diverse and complicated health care landscape and overcome product distribution hurdles with greater ease."

Additional Resources:

  • Beata Blachuta has written a Medtech 360 report on this subject entitled Asia Pacific Markets for Clot Management Devices 2015. A separate report entitled Chinese Markets for Clot Management Devices 2015 will be available later this year and will include market valuations broken out at the regional level.

About Decision Resources Group
Decision Resources Group offers best-in-class, high-value information and insights on critical issues within the healthcare industry. Clients rely on this analysis and data to make informed decisions. Find out more 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:
Decision Resources Group
Christopher Comfort
781-993-2597 
ccomfort@dresourcesgroup.com

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