上市捷报丨沙利文祝贺上海微创电生理医疗科技股份有限公司成功登陆科创板(688351.SH)

Shanghai MicroPort Electrophysiological Medical Technology Co., Ltd. (Stock Code:688351.SH) on2022year8month31The company successfully accessed the Sci-tech Innovation Board on the 1st. Minimally Invasive Electrophysiology is a high-tech enterprise focusing on the research, development, production, and sales of innovative medical devices in the fields of electrophysiological interventional diagnosis and treatment as well as ablation therapy. It is committed to providing globally competitive 'diagnostic and ablation therapy integrated solutions with precise interventional navigation at their core'. Frost & SullivanFrost & Sullivan,Frost & Sullivan (hereinafter referred to as 'Frost & Sullivan') hereby warmly congratulates the company on its successful listing.

Shanghai MicroPort Medical Technology Co., Ltd. (hereinafter referred to as 'MicroPort Medical') was established on2022year8month31The company was successfully listed on the stock market, with the number of shares issued being7,060.0010,000 shares, issue price per share16.51yuan.

The company is a high-tech enterprise dedicated to the research, development, production, and sales of innovative medical devices in the fields of electrophysiological interventional diagnosis and treatment as well as ablation therapy. It is committed to providing globally competitive "diagnostic and ablation therapy integrated solutions with precise intervention navigation at their core." Since its establishment, the company has always been focusing on innovation and breakthroughs in core technologies, and has systematically laid out products and expanded applications around these core technologies. After more than a decade of continuous innovation, in the field of cardiac electrophysiology, the company is one of the few manufacturers in the global market that has completed a complete layout of both cardiac electrophysiological equipment and consumables. It is also the first domestic manufacturer to provide a complete solution for three-dimensional cardiac electrophysiological equipment and consumables, overcoming many key technologies in this field and breaking the long-term technological monopoly held by foreign manufacturers.

The company has a rich portfolio of listed products and an ongoing R&D product layout, which is currently focused onColumbus®Three-dimensional cardiac electrophysiological mapping system is developed24The product has obtained a product registration certificate, and the current R&D pipeline mainly includes6Among these products, the pressure-sensing magnetic positioning irrigated ablation catheter has submitted an application for product registration. The cryoablation system and cryoablation catheter are in the clinical trial phase and are expected to be launched in2023Commercialization was launched in 2019. Frost & Sullivan has long been monitoring the global and Chinese biopharmaceutical industries, publishing a large number of research reports that are widely cited in the prospectuses of leading science and technology innovation board listed companies in the industry, helping clients accelerate growth.

Overview of Arrhythmias

Arrhythmia refers to any abnormality in the origin of heart rhythm, cardiac rate and rhythm, or impulse conduction, manifested as irregular heartbeat (too fast or too slow). Currently, there are approximately3,000There are tens of thousands of patients with arrhythmia, and as aging intensifies, the number of arrhythmia patients in China will continue to increase. Arrhythmias are classified into rapid and slow types based on the frequency of occurrence. Rapid arrhythmias are more common; among them, atrial fibrillation and supraventricular tachycardia are the two main types of rapid arrhythmias.

The treatment methods for arrhythmias include pharmacological and non-pharmacological treatments. Pharmacological treatments can be divided into sodium channel blockers, β-blockers, drugs that prolong action potential duration, and calcium channel blockers based on their mechanism of action. Although pharmacological treatment is generally the preferred treatment option, it can only control heart rhythm to a certain extent, requires long-term medication, has side effects, and many cases are refractory to drug therapy. Surgical treatment usually involves maze surgery, but the procedure is complex and time-consuming, and it is rarely used clinically at present. Catheter ablation therapy is a common treatment method for patients with tachycardia who do not respond to pharmacological treatment.

Overview of the Chinese Cardiac Electrophysiology Surgery Market

Catheter ablation surgery, also known as electrophysiological surgery, mainly involves cardiac electrophysiological interventional devices, which are divided into equipment and consumables. Equipment includes three-dimensional cardiac electrophysiology systems, electrophysiological recorders, electrophysiological stimulators, and radiofrequency ablation devices. Consumables mainly consist of interventional catheters, puncture needles, puncture sheaths, etc. Interventional catheters are primarily divided into diagnostic and ablation catheters. Ablation catheters are devices used for the electrophysiological treatment of rapid arrhythmias. Currently, electrophysiological surgical methods can be categorized into radiofrequency ablation and cryoablation based on the ablation energy used, with radiofrequency ablation further divided into two-dimensional and three-dimensional ablation surgeries.

With the advantages of cardiac electrophysiological surgery treatment gradually being clinically validated, the number of surgeries using electrophysiological surgery for patients with rapid arrhythmias in China has continued to grow, from2015year11.8Ten thousand cases grew to2020year21.2Ten thousand cases; expected by2024In [year], the volume of cardiac electrophysiological surgeries will reach48.9Ten thousand cases, compound annual growth rate23.3%.

Electrophysiological surgeries for patients with rapid arrhythmias in China,2015 - 2024E

Source: Frost & Sullivan report

With the technological advancement and clinical application promotion of three-dimensional mapping equipment and consumables, three-dimensional cardiac electrophysiological surgery has gradually surpassed two-dimensional cardiac electrophysiological surgery and become the mainstream procedure for cardiac electrophysiological treatment. The total number of catheter ablation surgeries (excluding cryoablation) performed on patients with rapid arrhythmias in China continues to grow, from2015year11.7Ten thousand cases grew to2020year20.2Ten thousand cases, compound annual growth rate11.5%, is expected to arrive2024In [year], the volume of electrophysiological surgeries will reach45.0Ten thousand cases, compound annual growth rate22.1%Among them, three-dimensional cardiac electrophysiological surgery started from2015year7.1Ten thousand cases grew to2020The year's promise16.4Ten thousand cases; expected by2024In [year], the volume of three-dimensional cardiac electrophysiological surgeries will reach43.0Ten thousand cases,2020reach2024The compound annual growth rate for the year is27.3%.

Comparison of Two-Dimensional and Three-Dimensional Cardiac Electrophysiological Procedures for Patients with Rapid Arrhythmias in China (excluding cryoablation),2015 - 2024E

Source: Frost & Sullivan report

Overview of the Atrial Fibrillation Ablation Surgery Market

In rapid arrhythmias, the pathogenesis of atrial fibrillation is relatively complex, and ablation surgery is more difficult. Therefore, in the treatment of atrial fibrillation, a three-dimensional mapping system is usually required for more accurate cardiac modeling to facilitate precise treatment by doctors. Driven by a series of factors such as the development of three-dimensional mapping technology and the promotion of atrial fibrillation centers, the number of electrophysiological surgeries for atrial fibrillation patients in China has decreased from2015year2.5Ten thousand cases grew to2020year8.2Ten thousand cases, compound annual growth rate26.5%are expected2024The number of catheter ablation surgeries for atrial fibrillation in the new year will reach25.2Ten thousand cases, compound annual growth rate32.5%.

Number of atrial fibrillation catheter ablation surgeries in China2015 - 2024E

Source: Frost & Sullivan report

Overview of the Chinese Cardiac Electrophysiological Device Market

The interventional devices used in electrophysiological surgery belong to electrophysiological instruments. The domestic market scale of electrophysiological instruments is composed of2015Renminbi per year14.8RMB billion growth to2020Renminbi in [year]51.5yuan, with a compound annual growth rate of28.3%Driven by factors such as the intensification of population aging, the increase in the number of patients with arrhythmia, the popularization of ablation surgery, and the upgrade of ablation surgical consumables, it is expected that by2024In [year], the market scale of electrophysiological devices will reach RMB211.1yuan, with a compound annual growth rate of42.3%In the future, with the continuous enhancement of domestic enterprises' R&D capabilities, the continuous improvement of market environment, and the introduction of favorable policies, the market share of domestic electrophysiological devices will continue to increase.

Market scale of electrophysiological devices in China2015 - 2024E

Source: Frost & Sullivan report

Frost & Sullivan integrates the globe.61years of consulting experience,24Frost & Sullivan has been dedicated to serving the booming Chinese market for years, demonstrating a global perspective in helping clients accelerate their business growth and achieve industry-leading benchmarks in terms of growth, innovation, and leadership. The health industry is one of the core areas of focus for Frost & Sullivan. Recently20For many years, the Frost & Sullivan team has provided financing and financial advisory services to hundreds of outstanding domestic and international biopharmaceutical, medical device, healthcare services, and internet healthcare companies.IPO listingIndustry consulting, strategic consulting, management consulting, and other services. Successful listings include: Zhiyun Health (9955.HK), MeinGene6667.HK),Prenetics（NASDAQ:PRE), Yunkang Group2325.HK), Ruike Biotechnology2179.HK), Leepu Biotech2157.HK), Clear Medical (1406.HK), Baisinkan2185.HK), Yonghe Medical (2279.HK), Kailaiying6821.HK), Beihai Kangcheng1228.HK), Gusheng Hall2273.HK), Eagle Eye Technology2251.HK), Clover Biotechnology2197.HK), minimally invasive robots2252.HK), and Yuhui Kaiman2256.HK), Kunbo Medical (2216.HK), Xianruida6669.HK), Kangsheng Global9960.HK), Medical Pulse Connect (2192.HK), Tengsheng Bo medicine2137.HK), Conoco (2162.HK), Chaogju Eye Hospital2219.HK), Guichuangtong Bridge2190.HK), and Huang Medicine0013.HK), Keji Pharmaceutical2171.HK), Zhaoke Eye Hospital6622.HK), Nature MedicineUPC.NASDAQ), Sino Biologics (6600.HK), Zhaoyan New Drugs6127.HK), Novo Nordisk Health (6606.HK), Tianyan PharmaceuticalADAG.NASDAQ), Beikang Medical (2170.HK), Jianbimiao Miao Miao2161.HK), Minimally Invasive Cardiac Angioplasty (2160.HK), Ruili Medical Beauty2135.HK), Jiake Pharmaceutical1167.HK), and Bopan Medicine2142.HK), JD Health6618.HK), Deqi Medicine6996.HK), Rongchang Biology9995.HK), WuXi AppTec Genomics (2126.HK), XianSen Pharmaceutical2096.HK), Yunding Xinyao1952.HK), Harvest Biotech6998.HK), ZaiDi Medical (9688.HK), Ocumivir1477.HK), Yongtai Biology6978.HK), Hype Pharma9989.HK), Kechuang Pharmaceutical9939.HK), Peijia Medical (9996.HK), Kangfang Biology9926.HK), Novartis HealthCare (9969.HK), Celestial BeingsIMAB.NASDAQ), Kanglonghua Cheng3759.HK), China Antibody3681.HK), Dongyao Pharmaceutical1875.HK), Yasheng Medicine6855.HK), Fosun Pharma (2696.HK), Hansoh Pharmaceutical3692.HK), Mabotech2181.HK), Founder Holdings1521.HK), Viva Biology1873.HK), CStone Pharmaceuticals2616.HK), Junshi Biology1877.HK), WuXi AppTec (2359.HK), Innovent Biologics1801.HK), Hualing Medicine2552.HK), BeiGene (6160.HK), Gelifarmaceuticals1672.HK), WuXi AppTec Biologics2269.HK), China Resources Medicine3320.HK), Yakult Scientific & Pharmaceutical2633.HK), and Huang China MedicineHCM.NASDAQ), Biotechnology1548.HK),BBILife Sciences1035.HK) and so on. In terms of the number of submissions, Frost & Sullivan's healthcare team in Hong Kong is involved inIPO listingMaintain an absolute leading position,2018till2021Year after year, it has always ranked first in market share.

since2019year7Since the listing of the first batch of companies on the Sci-tech Innovation Board, Frost & Sullivan reports have also been widely cited in the prospectuses of leading Sci-tech Innovation Board-listed companies, including: Mengke Pharmaceutical (688373.SH), Yifang Biology688382.SH), Jicui Pharmaceutical Health (688046.SH), Haiscot Biopharmaceuticals688302.SH), Rongchang Biology688331.SH), Rendu Biology688193.SH), Capital Pharmaceutical Holdings (688197.SH), and Yuanbiotech (688238.SH), YASIN Security688225.SH), Xidiwei688173.SH), MyWay Biotechnology688062.SH), Yarong Medicine688176.SH), BeiGene (688235.SH), Jiahemeikang688246.SH), DiZhe Medicine688192.SH), Novozymes688105.SH), Chengda Biology688739.SH), Gecko Micro688728.SH), Huaxi Biology688363.SH), Junshi Biology688180.SH), Zhejiang Genomics & Therapeutics Co., Ltd.688266.SH), Bai'ao Tai688177.SH), SinoCell (688520.SH) and others are considered one of the most powerful, professional, and influential industry research institutions in the sector. We aim to work with enterprises to understand industry trends, seize development opportunities, jointly promote innovation and upgrading of China's big health industry, and build a healthy future.