Report: Chinese rates of CV disease, use of CV devices to surge
The incidence of cardiovascular (CV) disease will increase by 73 percent in China by 2030, and researchers expect the CV device market in China to skyrocket to $1.6 billion in 2016, making it the largest of the emerging countries, according to a report published by GlobalData.
The report, which forecasts the device market into 2016, showed that China currently has the largest CV device market among emerging countries, including India and Brazil, and was marked to be worth $98 million in 2009.
India was reported to have the second largest CV device market, worth $786.3 million in 2009 and is expected to reach $1.5 billion in 2016. The device market in Brazil was $710.6 million in 2009 and is expected to rise to $1.25 billion in 2016.
“Changing dietary habits, work related stress and urban living conditions have been key factors in bringing about lifestyle changes and lifestyle related diseases,” the report stated.
For example, the diabetic population in India and Brazil is expected to increase to 69.9 million and 12 million, respectively, by 2025, according to the report.
Additionally, the World Health Organization reported that an estimated 59 percent of men and 4 percent of women in China are smokers. In India, these numbers are 35 percent for men and 3 percent for women and in Brazil, 29 percent and 18 percent, respectively.
High rates of smoking in combination with the rising number of those who are obese or have comorbid conditions, including diabetes, hypertension and hyperlipidemia, have led to the increased population who have developed or are at risk for developing CV disease.
The report also outlined which device companies are market leaders in the emerging markets. Overall it was reported that in 2009, Boston Scientific was the market leader for CV devices in China and India, Medtronic took the lead in Brazil.
Boston Scientific held 16 percent of the device market in China and 15 percent in India, while Medtronic held 18 percent of Brazil’s device market, according to the report.
“The cardiovascular devices market in these countries is expected to be driven by an increase in cardiovascular disease incidence, the availability of new technologies and products due to the increased focus of major multinational companies on these geographies and a rise in affordability levels,” the report concluded.
The report, which forecasts the device market into 2016, showed that China currently has the largest CV device market among emerging countries, including India and Brazil, and was marked to be worth $98 million in 2009.
India was reported to have the second largest CV device market, worth $786.3 million in 2009 and is expected to reach $1.5 billion in 2016. The device market in Brazil was $710.6 million in 2009 and is expected to rise to $1.25 billion in 2016.
“Changing dietary habits, work related stress and urban living conditions have been key factors in bringing about lifestyle changes and lifestyle related diseases,” the report stated.
For example, the diabetic population in India and Brazil is expected to increase to 69.9 million and 12 million, respectively, by 2025, according to the report.
Additionally, the World Health Organization reported that an estimated 59 percent of men and 4 percent of women in China are smokers. In India, these numbers are 35 percent for men and 3 percent for women and in Brazil, 29 percent and 18 percent, respectively.
High rates of smoking in combination with the rising number of those who are obese or have comorbid conditions, including diabetes, hypertension and hyperlipidemia, have led to the increased population who have developed or are at risk for developing CV disease.
The report also outlined which device companies are market leaders in the emerging markets. Overall it was reported that in 2009, Boston Scientific was the market leader for CV devices in China and India, Medtronic took the lead in Brazil.
Boston Scientific held 16 percent of the device market in China and 15 percent in India, while Medtronic held 18 percent of Brazil’s device market, according to the report.
“The cardiovascular devices market in these countries is expected to be driven by an increase in cardiovascular disease incidence, the availability of new technologies and products due to the increased focus of major multinational companies on these geographies and a rise in affordability levels,” the report concluded.