The size of the Middle East & Africa Prosthetic Heart Valves Market has been calculated at USD 1.24 billion in 2022. It is estimated to be growing at a CAGR of 12.11% and worth USD 2.20 billion by 2027.
Almost 300,000 valve replacements are done worldwide in a year, which may be mechanical valves or bioprosthetic valves. A prosthetic heart valve is a device that is implanted in a patient suffering from valve failures in the heart or other heart diseases which puts the patient at risk of heart failure. They are implanted both as a pre-emptive treatment and a reactive treatment. They may be used as both a method of prevention or a cure.
Artificial valves must be designed to perform all the functions of a normal native valve as well as withstand the adversities faced by introducing a foreign element into the body. Functions that the valve must perform include maintaining the unidirectional flow of blood in the body and proper opening and closing of the valves according to the body’s demand. Additionally, it must withstand the test of time as valve replacement on a regular basis is not feasible.
The rise of the Prosthetic Heart Valves market is mainly driven by the increasing aging population as well as the population affected by heart diseases. The technological advancements in the field, rise in prevalence of heart diseases due to changing lifestyles and ease of availability of medical centers performing open-heart surgery and awareness about heart diseases are other drivers of the market. However, the market growth is hampered by factors such as high cost of development, the lack of skilled professionals, reimbursement issues, post-treatment difficulties faced and strict government regulations.
This research report on the Middle East and Africa Prosthetic Heart Valves Market segmented and sub-segmented into the following categories:
The Middle-East & African market is one of the smallest market players owing to the underdeveloped nature of many countries in the region. The CAGR for the region is less than the global average mainly due to the lack of any noteworthy development in the field in African nations. In spite of the slow growth, the market is expected to prosper in the forecast years.
Companies playing a crucial role in the MEA 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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