The Chinese electrophysiology (EP) market will grow significantly over the next five years, driven by the increasing acceptance of EP ablation for the treatment of cardiac arrhythmias and the large untreated patient population in China, according to a report from Millennium Research Group (MRG), a medical technology market research firm.
The report, “Chinese and Japanese Markets for EP Mapping and Ablation Devices 2008,” valued the Chinese EP market at $50 million in 2007 and said the market will grow at a compound annual growth rate (CAGR) of 20 percent over the next five years.
The pattern contrasts with the more mature Japanese market, which was valued at $140 million in 2007 and will grow at a CAGR of only 8 percent over the same period.
MRG said that the rapid growth in Chinese EP mapping and ablation devices is due to the rising life expectancy and increasing affluence in China
EP ablation is fast becoming the primary treatment option for patients who do not respond to pharmaceutical therapy, particularly for those patients suffering from atrial fibrillation (AF), MRG said. AF is the fastest-growing segment in the EP market.