The Chinese medical device market may triple by 2018, partially due to high rates of tobacco consumption and a rapidly growing economy, according to a market report.
"China is the world’s largest consumer of tobacco products followed closely by Japan. This is leading to higher rates of cardiovascular disease and heart attacks and fueling the market for cardiac surgery devices," market research firm iData CEO Dr. Kamran Zamanian said in prepared remarks. "Companies such as Medtronic, Maquet and Edwards Lifesciences are moving in to capitalize on these lucrative segments."
Double-digit growth in rates of tissue heart valves, on-pump coronary artery bypass devices and endoscopic vessel harvesting devices may be a windfall for device makers with a foothold in China, as well as in Japan, South Korea and Australia, according to the report.
It may also be a bad sign for mechanical heart valves, with tissue heart heart valves "cannibalizing" the mechanical heart valve market in Japan and South Korea as physicians opt for devices with high biocompatibility.
Ventricular assist devices represent the 2nd fastest-growing market in the Asia-Pacific region, and growth is expected to continue at 10% through 2018, according to a press release.
"VADs, which are used for assisting weakened hearts by aiding pumping function, are in high demand in Japan where heart transplant rates are well below the global average," Dr. Zamanian said. "The VAD market was the fastest-growing segment in the Japanese cardiac surgery device market, as well as the second-fastest-growing segment in Asia-Pacific market."
Don’t forget reimbursement, says Bayer exec
Bayer innovation, radiology & interventional business executive director Donald DeLauder urged medical device makers to develop with reimbursement in mind in order to stay ahead in the market.
"Medical device industry executives often develop products that are deemed safe and effective by the FDA, but that do not sell as they are not reimbursable," he said. "This means that companies are spending time and money on developing products that go nowhere."
Device makers keep a cool head in a tough market
The medical device industry continued to invest in R&D, a sign of an optimistic outlook on the future as the world market for medical devices grew 5% to $322 billion in 2011.
DSM commences $360M tender offer for Kensey Nash
Royal DSM commenced its $360 million tender offer for Kensey Nash (NSDQ:KNSY), which was unanimously approved by Kensey Nash’s board of directors. The tender offer expires Monday, June 18 at midnight.
A group of Kensey Nash shareholders filed a lawsuit earlier this month to block the merger, saying the merger is designed to designed to fleece shareholders while ensuring that DSM gets the best bang for its buck, according to the lawsuit, led by investor Hilary Coyne.
Texas health provider to include NeuroMetrix’s neuropathy test in all facilities
NeuroMetrix (NSDQ:NURO) announced that Texas-based diversified health care provider WellMed Medical Management will incorporate the company’s NC-stat DPNCheck, a diagnostic tool for detecting systemic neuropathies, into each of its 45 primary care clinics in Texas and Florida and most of its independent physician clinics.
Notre Dame U. and Cleveland Clinic join forces to market novel products
The University of Notre Dame joined forces with Cleveland Clinic in a partnership aimed at marketing research and innovations developed at the university.
AngioDynamics shareholders approve stock issuance for Navilyst acquisition
AngioDynamics (NSDQ:ANGO) shareholders last week approved the issuance of 9.5 million shares of ANGO common stock for use in the acquisition of privately-held Navilyst Medical.
"The transaction, which we expect to complete on Tuesday, May 22nd, 2012, brings scale, technology and operational excellence to AngioDynamics, creating a platform for future growth," president & CEO Joseph DeVivo said in prepared remarks.
Surgline International buys Eden Surgical Tech.
Florida-base Surgline International (PINK:SGLN) acquired Eden Surgical Technologies in exchange for 50 million shares of restricted SGLN stock. SGLN shares closed at 0.0005¢ apiece yesterday, making the value of the 50 million shares approximately $25,000.
- Accelerated Orthopedic lands $150k in debt financing from a pair of investors
- ClearCount Medical Solutions closes a $1.5M funding round
- PositiveID announces a $2.5M private offering
- Abiomed (NSDQ:ABMD): Piper Jaffray raises price target to $27; MKM Partners raises price target from $27 to $29, maintains "buy" rating
- Edwards Lifesciences (NYSE:EW): Goldman Sachs raises price target from $90 to $97, maintains "buy" rating
- PSS World Medical (NSDQ:PSSI): UBS initiates coverage with a $26 price target and a "buy" rating