Core Insights - The article discusses the current state and future prospects of the long-term circulatory support industry, emphasizing its significance in treating end-stage heart failure patients and the expected growth in patient numbers and market size. Group 1: Industry Overview - The long-term circulatory support industry provides essential services for patients with end-stage heart failure, utilizing devices such as implantable ventricular assist devices and total artificial hearts [4][5]. - The industry is characterized by a high complexity and heterogeneity, with various classification systems for heart failure, including NYHA and INTERMACS [5][6]. Group 2: Epidemiology and Patient Demographics - In China, approximately 65% of heart failure patients are in the early stage, 25% in the progressive stage, and 10% in the end-stage [7]. - The annual incidence of heart failure in China is reported to be 275 per 100,000 people, with a standardized prevalence of 1.10% among adults aged 25 and older [7][8]. Group 3: Global Market Trends - The global heart failure patient population is projected to grow from 62.98 million in 2024 to 71.51 million by 2033, with a compound annual growth rate (CAGR) of 1.4% [10]. - In China, the number of heart failure patients is expected to increase from 15.35 million in 2024 to 17.72 million by 2033, with a CAGR of 1.6% [10]. Group 4: Clinical Application and Challenges - End-stage heart failure has a poor prognosis, with a one-year mortality rate close to 50%, and a median time from diagnosis to death of approximately 12.2 months [6][10]. - The article highlights the need for improved treatment options and the role of long-term circulatory support devices in enhancing patient outcomes [4][5].

Core Viewpoint - Picard Medical, Inc. has announced its initial public offering (IPO) pricing, aiming to raise $17 million through the sale of 4,250,000 shares at a price of $4.00 per share [1] Fund Utilization - The company plans to use the proceeds from the IPO primarily for market expansion through its joint venture in China, SynCardia Medical (Beijing), Inc. [1] - Funds will also be allocated for research and development, including next-generation products and new technologies, such as portable drive systems [1] - Additional uses of the funds include enhancing sales, marketing, and distribution capabilities, increasing inventory and drive system base, repaying debt, and supplementing working capital for general corporate purposes [1]