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May 4, 2020

Venus Medtech and Opus Medical partner for TMVR and TTVR in China

Venus Medtech has partnered with Opus Medical Therapies to develop, manufacture and sell the latter’s transcatheter mitral valve replacement (TMVR) and transcatheter tricuspid valve replacement (TTVR) products in China.

Venus Medtech has partnered with Opus Medical Therapies to develop, manufacture and sell the latter’s transcatheter mitral valve replacement (TMVR) and transcatheter tricuspid valve replacement (TTVR) products in China.

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Medical Device Industry Landscape In Asia-Pacific

GlobalData's APAC Medical Devices Industry Landscape – 2022 free study breaks down the APAC medical devices market by segment and region and includes insights on local and global competitors, pipeline product developments, clinical trials studies, and significant deals in the industry. The APAC medical device industry witnessed significant developments, launches, implementations, and adoption of new medical device technologies in the past decade, however the high cost of devices, regulatory hurdles, reimbursement pressure, and healthcare budget constraints have challenged market expansion across various territories and segments. APAC is the fastest growing regional market for medical device clinical trials, with China and Japan emerging as major clinical trial hotspots. The growth in medical device clinical trials in the APAC region is attributed to an increase in research partnerships between biopharma companies and clinical research organizations (CROs). This report also provides an in-depth analysis of the medical device market's opportunities and challenges, the influence of COVID-19 on the market, and government activities aimed to develop the APAC medical device market.
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The partnership will benefit physicians and patients undergoing transcatheter mitral and tricuspid valve replacement.

In China, the prevalence of mitral regurgitation (MR) above the age of 60 is 13.4% and the number of patients requiring treatment is estimated to be ten million. Tricuspid regurgitation (TR) is also not uncommon in the population, the company noted.

Currently, cardiac surgery is the mainstream way of treatment for patients with significant MR. However, the number of mitral valve surgeries in the country is approximately 40,000 cases a year. This means the majority of patients do not receive necessary treatments.

Venus Medtech CEO Eric Zi said: “It is the utmost importance to us that our devices can save more patients and improve their quality of life.

“The cooperation with Opus Medical Therapies will enable Venus Medtech to achieve full coverage from functional mitral regurgitation to degenerative regurgitation on the basis of its own product line and will greatly accelerate the clinical use of tricuspid valve replacement technology. No other company offers this all-valves solution in China and Asia.”

Opus Medical Therapies founder and CEO Vivek Rajagopal said: “With the depth of our experience and Venus’ support, we believe that this partnership will result in the furtherance of Venus’ pipelines, which have great potential market size globally.

“This partnership also provides us with the opportunity to make an impact in the fast-growing structural heart space in an extraordinarily important geographic market.  With Venus as our partner, we also hope to make an impact in the rest of the world.”

Through the partnership, both companies also plan to lead China to the forefront of global TMVR and TTVR research field.

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Medical Device Industry Landscape In Asia-Pacific

GlobalData's APAC Medical Devices Industry Landscape – 2022 free study breaks down the APAC medical devices market by segment and region and includes insights on local and global competitors, pipeline product developments, clinical trials studies, and significant deals in the industry. The APAC medical device industry witnessed significant developments, launches, implementations, and adoption of new medical device technologies in the past decade, however the high cost of devices, regulatory hurdles, reimbursement pressure, and healthcare budget constraints have challenged market expansion across various territories and segments. APAC is the fastest growing regional market for medical device clinical trials, with China and Japan emerging as major clinical trial hotspots. The growth in medical device clinical trials in the APAC region is attributed to an increase in research partnerships between biopharma companies and clinical research organizations (CROs). This report also provides an in-depth analysis of the medical device market's opportunities and challenges, the influence of COVID-19 on the market, and government activities aimed to develop the APAC medical device market.
by GlobalData
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