专家会议要点：中国电生理市场动态-Expert call takeaways_ Pulse check of China‘s electrophysiology market

Summary of Expert Call on China's Electrophysiology Market Industry Overview - The focus of the call was on China's electrophysiology (EP) market, specifically discussing surgery procedure volumes, market share, product competitiveness, and overseas potential for domestic companies [2][8]. Key Insights Surgery Volume Growth - China's EP surgery procedure volume is projected to grow from 380k-390k in 2023 to 470k-480k in 2025, with atrial fibrillation (AFib) surgeries increasing from 180k in 2023 to 250k in 2025 [3][9]. - The growth rate of AFib procedures is expected to significantly exceed that of other EP procedures due to an aging population and the implementation of Diagnosis-Related Groups (DRG) [3][9]. Market Share and Competitiveness - In 2023, the market share for radiofrequency ablation (RFA) is dominated by Johnson & Johnson (60-70%) and Abbott (25-30%), with domestic companies holding about 10% [4][13]. - For pulsed field ablation (PFA), Boston Scientific leads with a 40-50% market share, while APT Medical and Dinova each hold 20-30% [4][14]. - The expert predicts that PFA will likely erode the market share of cryoablation, with PFA expected to capture around 35% of the market when it stabilizes [3][11]. Product Competitiveness - The design of catheters is crucial for ablation efficacy, with spherical/basket designs being more effective than ring shapes [15]. - Domestic companies are expected to improve their competitiveness in the mapping systems, although they currently lag behind foreign companies like Johnson & Johnson [16]. Pricing and Hospital Strategies - The competition in PFA equipment is intense, leading to relatively low prices for hospitals [17]. - Many hospitals are adopting a dual-brand strategy, utilizing both overseas and domestic brands [17]. Overseas Expansion Potential - Domestic companies like APT Medical and MicroPort EP have advantages for overseas expansion, with APT Medical collaborating with Mindray and MicroPort EP leveraging its parent company's networks [5][20]. - Product registration overseas poses challenges that require collaboration with local distributors [5][20]. Risks and Challenges - The medtech industry in China faces several risks, including potential price reductions, weaker demand from equipment renewal programs, impacts from anti-corruption drives, geopolitical risks affecting supply chains, and slower-than-expected R&D breakthroughs [21]. Conclusion - The expert call highlighted the robust growth potential of China's electrophysiology market, driven by demographic trends and technological advancements. However, domestic companies must navigate competitive pressures and regulatory challenges to capitalize on these opportunities.