The market for coronary stents in Asia and the Pacific region contains principally China (early technology adopters) and Japan (with a longer regulatory approval cycle), which generate roughly 200,000 in stent sales annually. The area is, in the aggregate, the second biggest market for coronary stent sales globally. While China commands much attention due to its vast market potential driven by its huge population, financial capital and drive for economic growth, the coronary stent market is less well developed there than in Japan, which represents the bulk of this region's sales and on its own is second only to the U.S.
With the recent regulatory approval in Japan of Abbott's Xience stent, this market will continue to make significant changes. Xience has demonstrated strong competitive capabilities in the U.S. and Europe compared to offerings by J&J and Boston Scientific.
Meanwhile, the market dynamics intrinsic to China — including the relatively less well developed marketing and distribution infrastructure for foreign products and its corresponding tendency to develop domestic knock-offs to foreign products — will limit the growth of big players like J&J, Boston Scientific and Abbott. What growth will come will favor a heavier emphasis on drug-eluting stents than on bare metal stents and, within 2-3 years, bioabsorbable stents.
See the U.S. versus Asia/Pacific relative sales volumes, below:
Source: MedMarket Diligence, LLC; Report #C245.
, among other surrounding geographic areas. The Asia/Pacific market for coronary stents is forecasted to grow 6.7% annually from $1.3 billion in 2008 to $2.3 billion in 2017.