Over the last decade, there’s been a steep incline in the incidence of structural heart diseases, which has given way to growing adoption of prosthetic valves across the world.
Over the last decade, there’s been a steep incline in the incidence of structural heart diseases, which has given way to growing adoption of prosthetic valves across the world. Especially in Latin America, high prevalence of cardiac disorders such as aortic stenosis have been reported owing to dearth of top-notch treatment systems in the province. Moreover, the concentrated gross income of the Latin American countries have led to lesser disbursement on the development of new medical devices and procedures. This has, quite naturally, resulted in rising need for effective treatment systems.
There have been revolutionary advancements in the prosthetic heart valves, such as development of transcatheter heart valves and tissue heart valves. This has increased the adoption of prosthetic heart valves among patients and healthcare providers.
Prosthetic heart valves are implanted in patients suffering from valvular heart disease, which results in failure of one or more valves present in the human heart. These patients are treated by replacing a natural heart valve with a prosthetic heart valve.
This surge in demand has caught the attention of a number of key players from the West to capitalize in the Brazilian market for the development of their business of transcatheter heart valves. According to Allied Market Research, the global prosthetic heart valve market is anticipated to parade a considerable CAGR from 2021 to 2030.
Israel happens to propound an emerging market for implantation process. Rising geriatric population in the country and mounting demand for unmet treatment have coaxed the frontrunners to invest more and more in the Middle Eastern market.
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Professor Petra Mela and her co-worker Elena De-Juan-Pardo from Technical University of Munich and Harry Perkins Institute of Medical Research respectively have been evolving a means to craft artificial heart valves gleaned from a patients’ own cells that go beyond just simulated prosthesis. Scholars from the University of Western Australia are also involved in the R&D activities. As per the experts in this domain, the prosthesis should preferably remain in the individual for entire lifetime.
The team has also brought forth up-to-date technological advancements, in terms of 3D printing, which has taken the manufacturing artificial heart valves to a new level altogether.
The prosthetic valves industry has come across a number of clinical trials in the last few years. The European countries happened to administer highest number of clinical tests as a result of high incidence of heart syndromes, including mitral regurgitation and aortic stenosis. As for example, in Europe, nearly two million people come up with issues like aortic stenosis, when trials for mechanical valves implantation are also the maximum in Europe followed by North America.
Impact of Covid-19 on Prosthetic Heart Valve Market (Pre and Post Analysis)
Here, it’s worth mentioning that the outbreak of the Covid-19 pandemic has had a moderate impact on the global prosthetic heart valve market, since although most of the elective surgeries were delayed or postponed during the period, still the activities related to emergency medical procedures were left intact.