According to the study “Canada Prosthetic Heart Valves Market Outlook to 2025”, the increasing incidences of chronic heart valve-related disorders such as cardio valvular diseases, valvular and heart failure, various heart disorders, arterial diseases and increase in aged population are driving the demand for cardiac prosthetic devices in Canada. Also, the rising incidence of chronic heart diseases among infants is driving the need for surgery and catheterization to correct the damaged heart valves.
Prosthetic heart valve is a device implanted in the human heart that suffers from valvular heart disease. The diseased valve is replaced with a prosthetic heart valve which results in reduction in morbidity and mortality related to cardiac valve disorders. If the heart valve disease treatment reaches an extreme point, then a surgery is recommended to repair or replace the valve. The replaced prosthetic heart valves are carbon based mechanical valves and biological tissue valves. Technological advancements, increasing rate of heart valve diseases and increasing aged population are few factors driving the growth of prosthetic heart valve market in Canada.
Prosthetic heart valves market is categorized based on products such as transcatheter heart valves, tissue heart valves, mechanical heart valves, aortic valves, mitral valves, biological heart valves, aortic valves, mitral valves, pulmonary valves, tricuspid valves, aortic valves, mitral valves and pulmonary valves. Canadian prosthetic heart valves market is moderately fragmented due to the presence of numerous large and small vendors. The leading players are Abbott Laboratories, Boston Scientific, Edwards Lifesciences, LivaNova, Lepu Medical Technology, and Medtronic.
The increasing incidences of various chronic diseases such as high blood pressure, diabetes and developed healthcare infrastructure within the country are encouraging the development and manufacture of new technological advanced prosthetic heart valve devices. The advanced design and materials are creating a positive opportunity for the adoption of prosthetic heart valve devices in the hospitals making replacement surgeries smooth due to excellent valve performance, safety, and durability. There are various opportunities in the Canadian prosthetic heart valve market due to advance surgical replacement technologies. The high cost of transcatheter aortic valve replacement devices along with stringent regulations may hamper the growth of the Canadian prosthetic heart valve market over the next few years.
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Ankur Gupta, Head Marketing & Communications