The size of the Latin America Prosthetic Heart Valves Market has been calculated at USD 0.74 billion in 2022. It is further estimated to be growing at a CAGR of 13.6% and worth USD 1.40 billion by 2027.
The introduction of valve replacement surgery in the 1950s has revolutionized the treatment of patients with valvular heart disease. Almost 300,000 valve replacements are done worldwide in a year, which may be mechanical valves or bioprosthetic valves.
Even though the replacement of valves almost completely eliminates the problem faced by the patient, new problems come to the fore as the patient is affected by prosthetic valve hemodynamic, durability, and thrombogenicity. Nonetheless, in spite of the many prostheses related complications, most of which can be prevented or their impact minimized, artificial valves remain the preferred method of treatment of rheumatic heart disorders or valve failures.
The rise of the Prosthetic Heart Valves market is mainly driven by technological advancements and the rise in the prevalence of heart valve disorders. The aging population, as well as the population affected by heart diseases, are other drivers of the market along with changing lifestyles, funding provided by the government, awareness about heart diseases, rise in the number of heart surgeries and increased availability of medical centers equipped to deal with the surgery. However, the market growth is hampered by factors such as the lack of skilled professionals, high cost of development, reimbursement issues and strict government regulations.
This research report on the Latin America Prosthetic Heart Valves Market segmented and sub-segmented into the following categories:
The Latin American market is one of the smallest market players but still has the second-highest growth rate globally. This offers immense scope for development in the region mainly due to the developing stature of the countries as well as the ease of establishing a new enterprise in the region. The market is expected to be one of the major players in the coming years.
Some of the noteworthy companies dominating the Latin America Prosthetic Heart Valves Market are Corvia Medical, CardioKinetix, Biomerics LLC, Lepu Medical Technology, XELTIS BV, Comed BV, HLT, Meril Life Sciences, SYMETIS SA and Transcatheter Technologies.
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