(PharmaNewsWire.Com, January 10, 2018 ) According to the report "Latin America Prosthetic Heart Valves Market By Type (Mechanical Heart Valve, Tissue Heart Valve And Transcatheter Heart Valve), And By Region - Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2016–2021)" published by Market Data Forecast, The Latin America Prosthetic Heart Valves Market was worth USD 0.51 billion in 2016 and estimated to be growing at a CAGR of 13.6%, to reach USD 0.97 billion by 2021.
The introduction of valve replacement surgery in the 1950s has revolutionised 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 bio prosthetic valves.
Even though 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 hemodynamics, durability and thromobogenicity. Nonetheless, inspite 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 Latin America Prosthetic Heart Valves market is mainly driven by the technological advancements and the rise in prevalence of heart valve disorders. The aging population as well as the population affected by heart diseases is 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 centres 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.
The Latin America Prosthetic Heart Valves market is broadly classified based on type into Mechanical Heart Valve, Tissue Heart Valve and Transcatheter Heart Valve. Based on geography, the Latin America market is divided into Argentina, Brazil and Mexico. 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.
Several multinational companies operate in the Latin America Prosthetic Heart Valves market includes:
· Corvia Medical
· CardioKinetix
· Biomerics LLC
· Lepu Medical Technology
· XELTIS BV
· Comed BV
· HLT
· Meril Life Sciences
· SYMETIS SA
· Transcatheter Technologies GmbH
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