Cardiac Stent Market with Huge Potential — China

(Click 618 )

In 2023, only the centralized procurement of coronary stents will reach 200 million U.S. dollars, and the overall market size of cardiac stents will exceed 3 billion U.S. dollars.

    Coronary heart disease is a common disease among middle-aged and elderly people, and PCI with coronary stents is mainly used in the treatment of coronary heart disease.

At present, China has a large and deep aging population base, which is the main background for the high incidence of cardiovascular diseases in my country. In 2021, China’s population aged 60 and over will be 260 million, and the aging of China’s population is still deepening. As one of the main treatment methods for coronary heart disease, the use of cardiac stents in China has been increasing in recent years, and the market for cardiac stents is also expanding. Data show that the size of China’s cardiac stent market will be nearly US$3 billion in 2020, a year-on-year increase of 14.1%.

In November 2020, China began to organize the centralized procurement of coronary stents. According to the person in charge of the National Medical Insurance Bureau, since the implementation of centralized procurement of coronary stents in January 2021, as of the end of October 2022, a total of 3.2 million selected stents have been purchased nationwide, reaching 1.3 times the agreed purchase volume.

On November 29, 2022, the bidding for the continuous procurement of coronary stents organized by China will be opened in Changzhou, Jiangsu. According to the results of the proposed selection, a total of 14 products from 10 companies are proposed to be selected. The selected companies include well-known multinational companies such as Medtronic. The company’s selection rate reached 91%. The estimated annual purchase volume is about 1.78 million, and the total purchase amount is about 200 million US dollars.

The lower unit price of centralized procurement of coronary stents in China is due to the upgrading of China’s precision medical laser cutting equipment and the advancement of stent cutting technology. According to statistics, in 2021, through centralized procurement, the total cost savings will exceed 17.9 billion yuan, and the affordability of patients for percutaneous coronary intervention (PCI) surgery will be greatly improved. In 2021, the number of PCI operations in China will increase by more than 40% compared with 2020. In the next few years, China’s coronary stent market will continue to show an upward trend; and, in addition to coronary stents, China also has a large procurement demand for other types of cardiac stents.

In addition, the centralized procurement of coronary stents in China has greatly reduced the expenses previously used by high-value consumables companies for promotion and sales, allowing companies to invest more funds and energy in research and development, and actively promote their own innovation and development; at the same time, let stent manufacturers have Reasonable profit margins allow ordinary people to use high-quality products.

A representative of a foreign-funded enterprise said: For our foreign-funded enterprises, the Chinese market is very important. After the centralized procurement by the national organization, I think it should be a very good result for the enterprises, the government, and the people. The cost reduction of intermediate links brought about by the price reduction of centralized procurement is also conducive to optimizing the industrial structure and promoting the long-term healthy development of the bracket industry.