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October 14, 2013

CardioKinetix announces successful completion of first Parachute procedure in China

CardioKinetix, a developer of catheter-based treatment methods for heart failure, has announced the first successful completion of heart failure surgery with a new catheter-based Parachute ventricular partitioning device in Beijing, China.

By admin-demo

CardioKinetix, a developer of catheter-based treatment methods for heart failure, has announced the first successful completion of heart failure surgery with a new catheter-based Parachute ventricular partitioning device in Beijing, China.

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The Parachute is a catheter based partitioning device deployed within the left ventricle through a small catheter inserted in the femoral artery of patients who have developed ischemic heart failure following a heart attack.

By partitioning the damaged muscle and isolating the non-functional muscle segment from the functional segment, the Parachute implant decreases the overall volume and restores a more normal geometry and function in the left ventricle.

The Parachute device helps in achieving better patient outcomes as it improves overall cardiac function and quality of life of patients.

"China is currently experiencing a rapid increase in cardiovascular disease leading to a significant unmet need for better treatment options for patients with heart failure."

Chinese Society of Cardiology in Beijing president Dr Huo Yong said: "China is currently experiencing a rapid increase in cardiovascular disease leading to a significant unmet need for better treatment options for patients with heart failure."

The Parachute device, which received CE Mark in 2011, is currently enrolling patients in the US pivotal trial, PARACHUTE IV.

CardioKinetix president and CEO Maria Sainz said these initial cases in China mark another key milestone in CardioKinetix’s journey to bring Parachute to heart failure patients around the world.

"China represents a key strategic opportunity for the company as we further our international expansion," Sainz said.

In August 2013, CardioKinetix reported its Parachute device was successfully implanted in four Malaysian patients.

Approximately six million people are affected with heart failure in the US a year, leading to 1.1 million hospitalisations annually.

According to GlobalData estimates, the left ventricular assist devices market in the US was valued at $361.6m in 2012 and is expected to grow at a CAGR of 15.1% to reach $967m by 2019.

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Find the right pricing strategy for your medical device

How do your competitors set prices in different markets? Will reducing your prices win market share from your main competitors? Do you need to position products differently for different markets? To find out, use our Global Brand Pricing tool to achieve optimal pricing for your devices. Detect price changes, understand competitor market positioning, and plan new product launches, by accessing this tool today. It features:
  • A proprietary algorithm that leverages numerous pricing sources, with an emphasis on real-world data
  • Estimates of the likely spread of selling prices per brand and manufacturer, as well as 3-year forecasts for prices
  • Medical device pricing data that can be tracked by market, company, and brand
  • Additional categories that can be built on a custom basis
Use our tool to access competitor pricing strategies across multiple geographies, and various dynamic case studies from the likes of Germany and China, to benchmark yourself against your competitors and future proof your pricing strategies.
by GlobalData
Enter your details here to receive your free Report.

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