Small stents open the medical device market

China's fast-growing medical device market has made foreign giants drool. Recently, Medtronic Corporation of the United States acquired an orthopedic equipment enterprise in Changzhou, Jiangsu Province at a high price of more than 800 million US dollars, which has aroused the attention of all parties. The reporter learned that China's medical device companies are competing with foreign giants through continuous innovation and have established their own advantages in high-end devices such as cardiovascular stents.

According to Fan Yubo, chairman of the China Biomedical Engineering Society, the market size of medical devices in China is about 400 billion yuan, and it is increasing at a rate of 20% per year. Among them, about 80% of the market for high-end medical devices is occupied by foreign capital. However, in the cardiovascular stent industry, a segment of high-end medical devices, the Chinese medical device company represented by Shanghai Weichuang has achieved a huge transformation from start-up to follow-up in more than 10 years. About 70% of the domestic market.

A stent is a tiny mesh catheter device used to prevent occlusion or stenosis of an arterial vessel. There are as many as 3.5 million patients who die of cardiovascular disease each year in China, and the cardiovascular prevalence rate continues to rise. In this market with huge demand and lucrative profits, foreign companies including Abbott, Johnson & Johnson and Medtronic are the original leaders, and Chinese medical device companies are initially at a disadvantage. "The balloon catheter is probably 20 years late, metal The bare stent was 4 or 5 years late, and it was basically kept up when it came to the drug stent.” Dr. Chang Zhaohua, the chairman of Shanghai MicroPort Medical Devices, told the reporter.

Although the technical advancement of the stent has led to a decrease in the rate of restenosis of the blood vessel, the risk of developing a late thrombus increases when the stent is coated with a drug. Although this probability is small (0.3% - 0.5%), thrombosis is often fatal, which makes patients have to take long-term medication to control risk after surgery.

In response to this problem, domestic medical device companies have made unremitting efforts. Lepu Medical (300003, stock market), which once ranked first in the market capitalization of the A-share GEM, launched a carrier-free drug stent in 2011. “Although the sales growth of traditional stents has slowed down, the carrierless stents have achieved market breakthroughs and are gradually increasing,” said Dong Wei Securities researcher Jiang Weina in the report.

MicroPort Medical, which is listed on the Hong Kong stock market and ranked first in market share, launched the third-generation drug stent, and won the chairman of the conference at the 2012 TCT meeting of the Global Conference on Cardiotherapy at the end of October. Leon is positive.

It is understood that the third-generation drug stent adopts the concept of "target elution", which is to dig a groove on the side of the stent near the blood vessel and store the drug coating therein. Because the drug is only directed to the blood vessel, it effectively reduces the probability of thrombosis and protects the patient from long-term medication.

The third generation of stents not only innovates in concept, but also innovates in craftsmanship. “It’s already difficult to dig a groove on a thin hair-like bracket. It’s even harder to fill in the drugs and mass-produce it. Because of this, a reputable foreign expert like Leon is the initiative for Chinese companies. "It cannot be said that it is a big breakthrough." Medical device expert Tang Zhirong said.

What is even more exciting for China's medical device industry is that the domestic third-generation drug stents selected Abbott's world-class products as a control in clinical trials. And once the control data is not as good as the foreign side, the credibility of the hard-working establishment of domestically produced equipment will be severely hit. However, the results show that the Chinese-made drug stents are not only consistent with the world's cutting-edge products in terms of major indicators, but some indicators are even better than the latter.

According to industry insiders, "medical devices are an industry that is extremely innovative. Chinese companies have long been suppressed by foreign investment in this field. First, they are not strong enough, and their R&D investment is insufficient. Second, they lack the courage to compete with the world's giants. This layer of window paper in the field has been smashed, which can bring confidence to other medical device segments such as orthopedics and pacemakers."

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