Lack of reimbursements limit drug-eluting stent market across Latin America

According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, despite the rising popularity of drug-eluting stents (DES) across Latin America, bare-metal stents (BMS) will continue to represent a significant portion of the overall coronary stent market through 2014. This trend is especially evident in Brazil, where the public healthcare system does not provide any reimbursement for DES procedures.

In Brazil -- by far the largest Latin American coronary stent market -- the rapidly aging population is a particularly important factor in fueling coronary stent procedure volumes. The portion of the population over age 65 is expected to grow substantially from 2009 to 2014, which will raise demand for treatment of coronary artery disease. However, reimbursement in the country is not particularly favorable to coronary stents. While the public healthcare system will reimburse the cost of a BMS, it will not cover the cost of multiple stents in one procedure. Additionally, because of high price sensitivity in Brazil and the potential strain on the country's healthcare system, the government does not provide any form of reimbursement for DES. In Brazil, the price of a DES is currently more than five times that of a BMS, causing the government to limit reimbursement to BMS in order to lower costs.

"Compared to other emerging markets, DES penetration in Latin America is low," says Andrea Bettello, Analyst at MRG. "For example, China sees over 90 percent DES penetration while in Brazil, the penetration rate sits at around 30 percent. Over the next five years, however, the Brazilian economy will grow significantly, and as the number of people with private insurance increases, there will be a growing likelihood that patients undergoing percutaneous coronary intervention can afford a DES. As a result, DES procedures will become more prevalent in Brazil through 2014, but will continue to lag behind other regions due to the public healthcare sector."  

MRG's Latin American Markets for Interventional Cardiology Devices 2010 report provides critical insight into trends that will fuel market growth for coronary stents, percutaneous transluminal coronary angioplasty balloon catheters, and interventional cardiology accessory devices through 2014. In addition to Brazil, the report includes analyses of Argentina, Colombia, Mexico, and Puerto Rico. With detailed analyses of procedures, units, average selling prices, revenues and competitive dynamics, this report will allow readers to trace current and emerging market trends, identify opportunities, and track competitors.