Cardiovascular and cerebrovascular disease is a general term for cardiovascular and cerebrovascular diseases, which generally refers to ischemic or hemorrhagic events in the heart, brain, and body tissues caused by hyperlipidemia, thick blood, atherosclerosis, and hypertension.
Data show that in 2017, the global death toll was 55 million, of which 17.7 million died of CVD, accounting for as much as 38%, of which 75% came from low- and middle-income countries. In China, the death rate of CVD ranks first, higher than that of tumors and other diseases, accounting for more than 40% of the residents’ disease deaths. It can be seen that cardiovascular and cerebrovascular diseases have long become the number one killer in China and even the world.
According to the relevant data in 2018, there have been 290 million people suffering from cardiovascular diseases in China, including 13 million with strokes, 11 million with coronary heart diseases, 5 million with pulmonary heart diseases, 4.5 million with heart failures, 2.5 million with rheumatic heart disease, 2 million congenital heart diseases, and 270 million with hypertension. Since the report was released in August 2019, some of the data may be higher considering factors such as time and mortality. The report also showed that the death rate of cardiovascular diseases is increasing year by year, in which the cardiovascular death rate in rural areas continues to be higher than that in urban areas. As China has a large population base, with a large number of cardiovascular patients, there is a long way to go for cardiovascular treatment.
Among the various treatment methods for cardiovascular diseases, vascular intervention has been recognized and accepted by more and more patients due to its minimally invasive, convenient, and low-risk characteristics. As a result, vascular intervention has developed rapidly, which has become an indispensable technical means for cardiovascular diseases. With the increase in the demand for interventional therapy by cardiovascular patients, the device market in the field of vascular intervention has also ushered in rapid growth. However, due to the impact of policies such as centralized procurement and medical insurance control fees, the growth rate has slowed year by year. According to relevant data, the market size of cardiovascular interventional devices in 2019 was approximately 19.94 billion yuan.
In clinical application, according to the disease site used by interventional products, cardiovascular interventional devices are mainly divided into cardiovascular interventional devices (mainly coronary interventional devices), cerebrovascular interventional devices, aortic interventional devices, and peripheral vascular interventional devices, of which peripheral vascular interventional devices include peripheral arterial interventional devices and venous interventional devices.
The Aging Population Increases the Demand for Cardiovascular Devices
Cardiovascular and cerebrovascular disease is a common disease that seriously threatens the health of human beings, especially middle-aged and elderly people over the age of 50. It presents three high characteristics of high prevalence, high disability, and high mortality in this population. From the perspective of the age structure of the domestic population, the number of people over 60 is increasing with a deepening aging degree. In 2018, the proportion of the population over 60 in China has reached 17.9%, which will further increase the demand for related cardiovascular equipment.
The Development of Domestic Cardiovascular Equipment Continues to Grow
Vascular interventional devices have many features to block many companies from entering, including the high technical content, high barriers to entry, and strong industry barriers. Besides, the development of domestic vascular interventional devices in China is relatively late, and the gap is large compared with imported products.
Cardiovascular intervention and cerebrovascular intervention are very closely related to the survival of people, while peripheral vascular interventional therapy improves the quality of life of patients. Therefore, for the domestic market that started relatively late, the initial development of cardiovascular intervention and cerebrovascular intervention has been mainly developed, in which the related equipment has also been developed rapidly. At present, domestic coronary interventional therapy has basically matured, and coronary stents have basically achieved import substitution. But the production technology of high-end cardiac stents is insufficient, and the technology of artificial valves and artificial pacemakers has been progressing slowly.
Also, the level of development of peripheral vascular intervention is not as good as others at this stage, and there is still a lot of room for development in the market of peripheral vascular intervention.
Data show that the penetration rate of endovascular interventional therapy in China in 2018 was only 1.6%, lower than that in the United States with 3.1%. With the increasingly abundant medical resources in China and the continuous improvement of the technical level of clinicians, as well as the continuous improvement of domestic brand technology and safety, the detection rate of aortic and peripheral vascular diseases will continue to increase, and the market capacity of aortic and peripheral blood vessels will follow.
Peripheral vascular disease mainly includes peripheral arterial disease and venous disease. If peripheral arterial disease is not treated in time, it is prone to amputation, which seriously affects the quality of life of patients and even threatens the safety of patients. Venous diseases mainly include a series of diseases such as varicose veins, deep vein thrombosis, and venous compression caused by blood flow obstruction and limb swelling.
The number of patients with peripheral vascular disease is increasing. However, previously affected by technology, national income, and treatment concepts, the interventional treatment of peripheral vascular disease has not received extensive attention. At present, peripheral vascular interventional therapy is still in the early stage of development in China. The market capacity is showing a good side, which will develop faster and better in the future under the excellent situation that the living standards of Chinese residents have improved, the emphasis on health has increased, and the education of patients and doctors has gradually deepened. Peripheral vascular interventional devices are expected to become the driving force of vascular interventional devices in the next few years.
The vascular intervention industry has relatively high technical barriers, and competition in the technology industry is more of a competition in technology research and development, thus, whoever has the core technology has the absolute right to bargain.
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