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Vietnam Market for Cardiac Rhythm Management

  • May 2012
  • -
  • Frost & Sullivan
  • -
  • 101 pages

This research service presents an analysis of cardiac rhythm management market in the Vietnamese market. The study is broken down into the following segments: pacemakers, implantable cardioverter-defibrillator, cardiac resynchronization therapy, and cardiac ablation. It provides in-depth analysis by procedural volume, unit shipment, and revenue forecast by segments; and it includes drivers and restraints, technology trends, and market strategies in Vietnam. Key opinion leaders in Vietnam hospitals were interviewed to obtain their current perceptions on the cardiac rhythm management devices market.

Executive Summary

•According to the World Health Organization (WHO), Vietnam has undergone an epidemiological transition, wherein the morbidity and mortality pattern has shifted from communicable diseases to non-communicable diseases.
•According to a study conducted by the Ministry of Health (MOH) in Vietnam, cardiovascular diseases, mainly strokes and ischaemic heart disease (IHD), account for one-third of all deaths and are ranked first among the top xx leading causes of mortality.
•There are no concrete statistics available to understand the prevalence of cardiovascular disease in Vietnam due to limited financial resources.
•An extrapolated study conducted by the universities covering the rural province of Thai Binh and the urban area of Hanoi estimated that xx million people in Vietnam are affected by cardiovascular disease.
•In Vietnam, the cardiac rhythm management (CRM) market is expected to have moderate growth on a small base, as there are potential cardiac patients available for implants. However, affordability, infrastructure, and awareness about CRM devices are less.
•The overall price of implant is likely to increase by a marginal x.x percent every year. Though the prices of CRM devices did not change significantly in terms of local currency (DONG), in the last few years, there was significant impact due to currency exchange factors.
•Of Vietnam’s xx million people, xx percent were covered under compulsory health insurance (employees in public sectors, private enterprises, pensioners, poor, children under 6 years of age, and civil servants) and the remaining xx percent were those who were insured voluntarily (farmers and self-employed).
•There are currently only xx centers performing interventional cardiology procedures in Vietnam, and xx of those are concentrated in Ho Chi Minh City. Vietnam has witnessed a rapid rise in interventional cardiology, growing from x labs in 2001 to xx at present.
•In Vietnam, the cardiac rhythm management market is concentrated with existing key market participants, namely, St. Jude Medical, Inc, Biotronik, and Medtronic. However, these products are sold through locally appointed distributors, as per licensing and regulations requirements framed by the MOH.
•After the introduction of amendments in insurance in 2011, the government health insurance covers most of the cost of a basic pacemaker, but the patient is required to be insured for about one year.
•However, ICDs and CRT devices are well above the coverage of insurance and hence, patients, though covered under health insurance, find it difficult to pay the out-of-pocket costs and opt for recycled devices.

Market Overview—Definitions
•Cardiac Rhythm Management: A device surgically placed into the body that is designed to restore function by replacing or reinforcing a damaged structure.
•Vietnam Cardiac Rhythm Management Market: The cardiac rhythm management market is sustained by cardiac patients who seek treatment for arrhythmia-related problems.
•Unit Shipment: The number of units of cardiac implants utilized by the local market.
•Revenues: The income generated from sales of cardiac implants in the local market. The unit price used for calculation was the end-user price in hospitals.
•Arrhythmia: Abnormality of the electrical signal conduction within the heart; severity can range from minor to life-threatening, and the frequency from an isolated event to chronic.
•Atrial Fibrillation: The most common cardiac rhythm and is associated with an irregular heartbeat.
•Bradycardia: An abnormally slow heart rhythm, less than xx beats per minute.
•Cardiac Ablation: A minimally invasive procedure that may lessen the number of episodes or treat atrial fibrillation.
•Cardiac Resynchronization Therapy (CRT): Modification of traditional pacemaker devices that includes a third lead for left ventricular pacing in addition to the right atrium and right ventricle. By coordinating the bottom ventricles, the heart it is able to pump blood efficiently. CRT devices are rapidly becoming the device of choice for heart failure patients. These devices are available in two forms, as a three-lead CRT-P device, which is an advanced pacemaker, or a CRT-D device, which combines pacemaker and ICD elements.
•Congestive Heart Failure: Condition in which the heart muscle is weakened and unable to sufficiently pump blood throughout the body, leading to abnormal fluid accumulation in the limbs, lungs, and liver.
•Heart Block: Occurs when electrical impulses generated in the upper chambers of the heart are not properly transmitted to the lower chamber.
•Implantable Cardioverter-Defibrillators (ICDs): Devices used in patients who are at risk of sudden cardiac death. An ICD is a small battery-powered device used to detect cardiac arrhythmia and correct it by delivering a jolt of shock.
•Pacemaker Implants: Procedures in which a small device is placed under the skin of the chest or abdomen to help control abnormal heart rhythms. This device uses electrical pulses to prompt the heart to beat at a normal rate.
•Tachycardia: An abnormally fast heart rhythm.

Table Of Contents

Vietnam Market for Cardiac Rhythm Management

Executive Summary 4
Market Overview 10
Total Cardiac Rhythm Management Market -
External Challenges: Drivers and Restraints 28
Forecasts and Trends 36
Market Share and Competitive Analysis 47
Pacemaker Segment Breakdown 56
Implantable Cardioverter-Defibrillator (ICD) Segment Breakdown 61
Cardiac Resynchronization Therapy (CRT) Segment Breakdown 66
Cardiac Ablation Segment Breakdown 71
Conclusions and Key Strategies for Success 76
The Last Word 81
Appendix 83

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