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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Research
Ankur Gupta,
Head Marketing & Communications
0124-4230204
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