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Market Analysis of Coronary & Peripheral Vascular Stents in Selected Asian Regions
Frost & Sullivan, April 2006
This Frost & Sullivan research service covers the Market Analysis of Coronary & Peripheral Vascular Stents in selected Asian Countries and provides an overview of the vascular stents market, the market drivers and restraints, as well as market forecasts from 2005-2012. In this research service, Frost & Sullivan's expert analysts thoroughly examine the following markets: coronary and peripheral vascular stents market.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Healthcare/medical devices
Technologies
The following technologies are covered in this research:
- Coronary and peripheral stents
- Drug-eluting stents
Market Overview
Availability of Reimbursement Options Drives Demand for Stents in Asia
Across Asia, there has been an increase in the usage of drug-eluting coronary and peripheral stents, especially in developed countries such as Taiwan and Singapore where the availability of easy reimbursement options for higher-priced drug-eluting stents make them affordable for patients. Reimbursements by national medical savings schemes play a crucial role in the Philippines and South Korea mainly because of greater preference for lower-priced drugs, wherever available.
One of the major challenges faced by stent manufacturers is to convince national health insurance authorities to include drug-eluting stents in their list of devices warranting reimbursement. Nevertheless, the high incidence of cardiovascular diseases - coronary atherosclerosis, ischaemic heart disease, and hypertension - in Asia and the growing preference of surgeons to use stents to treat diseases such as atherosclerosis are likely to boost the acceptance of stents in the region, says the analyst of this research service.
Increasing Incidence of Cardiovascular Diseases Fuels Demand for Stents
Cardiovascular diseases have been cited as one of the top five causes of growing morbidity in most Asian countries, points out the analyst. These incidence rates, coupled with the rapidly ageing population in Asian countries, are expected to increase medical treatment requirements, which In turn can drive the growth of the vascular stents market.
With robust economic growth and a greater adoption of social security schemes, more patients are likely to have access to treatments that can enhance their quality of life. Rising consolidation within the market, increasing uptake of drug-eluting stents, and higher acceptance of expensive medical products are also likely to propel the need for stents across Asia.
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