Good News on Listing | Frost & Sullivan Congratulates Shanghai MicroPort Medical Technology Co., Ltd. on Successful Listing on the Sci-tech Innovation Board

The company 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 a globally competitive "diagnostic and ablation therapy integrated solution centered on precise interventional navigation." Since its establishment, the company has always been committed to 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 cardiac electrophysiological equipment and consumables, as well as the first domestic manufacturer to provide a complete solution for three-dimensional cardiac electrophysiological equipment and consumables. The company has overcome many key technologies in this field and broken the long-term technological monopoly of foreign manufacturers in this area.

The company possesses a rich portfolio of listed products and ongoing research projects. Currently, it has developed 24 products with product registration certificates around the Columbus ® three-dimensional cardiac electrophysiological mapping system. The pipeline of ongoing products mainly includes six products, among which the pressure-sensing magnetic positioning irrigated ablation catheter has submitted for product registration applications. The cryoablation system and cryoablation catheter are in clinical trial stages and are expected to be commercialized in 2023. Frost & Sullivan has long been monitoring the global and Chinese biopharmaceutical industries, publishing numerous research reports, which have been widely cited in the prospectuses of leading science and technology innovation board listed companies in the industry, helping clients accelerate growth.

Arrhythmia refers to any abnormality in the origin of heart rhythm, cardiac rate and rhythm, as well as impulse conduction. It is manifested as irregular heartbeat (too fast or too slow). Currently, there are about 30 million arrhythmia patients in China, and with the intensification of aging, the number of arrhythmia patients in our country will continue to increase. Arrhythmias are classified into tachycardia and bradycardia according to the frequency of occurrence. Tachycardia is more common; among them, atrial fibrillation and supraventricular tachycardia are the two main types of tachycardia.

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 arrhythmias to a certain extent, requires long-term medication, has side effects, and most cases are unresponsive to drugs. 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.

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 catheters and ablation catheters. Ablation catheters are devices used for 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.

As the advantages of cardiac electrophysiological surgery treatment are gradually validated in clinical practice, the number of patients undergoing electrophysiological surgery for rapid arrhythmias in China continues to grow, increasing from 118,000 cases in 2015 to 212,000 cases in 2020; it is estimated that by 2024, the number of cardiac electrophysiological surgeries will reach 489,000 cases, with a compound annual growth rate of 23.3%.

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) used in patients with rapid arrhythmias in China continues to grow, from 117,000 cases in 2015 to 202,000 cases in 2020, with a compound annual growth rate of 11.5%. It is estimated that by 2024, the volume of electrophysiological surgeries will reach 450,000 cases, with a compound annual growth rate of 22.1%. Among them, three-dimensional cardiac electrophysiological surgery has increased from 71,000 cases in 2015 to about 164,000 cases in 2020; it is expected that by 2024, the volume of three-dimensional cardiac electrophysiological surgery will reach 430,000 cases, with a compound annual growth rate of 27.3% between 2020 and 2024.

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 factors such as the development of three-dimensional mapping technology and the promotion of atrial fibrillation centers, the number of electrophysiological surgeries for Chinese patients with atrial fibrillation increased from 25,000 cases in 2015 to 82,000 cases in 2020, with a compound annual growth rate of 26.5%. It is estimated that by 2024, the number of atrial fibrillation catheter ablation surgeries will reach 252,000 cases, with a compound annual growth rate of 32.5%.

Interventional devices used in electrophysiological surgery are considered electrophysiological instruments. The domestic market size of electrophysiological instruments increased from RMB 1.48 billion in 2015 to RMB 51.5 billion in 2020, with a compound annual growth rate of 28.3%. Driven by factors such as the aging population, an increase in the number of patients with arrhythmias, the popularization of ablation surgeries, and the upgrading of consumables for ablation surgeries, it is estimated that by 2024, the market size of electrophysiological instruments will reach RMB 211.1 billion, with a compound annual growth rate of 42.3%. In the future, with the continuous enhancement of domestic enterprises' research and development capabilities, the continuous improvement of the market environment, and the introduction of favorable policies, the market share of domestic electrophysiological instruments will continue to rise.