Heart valve market in Australia to reach $50m in 2030: report
This is due to the rise of cardiovascular disease risks.
As the geriatric population in Australia practise an unhealthy lifestyle, GlobalData, global analytics firm, said the heart valve market will grow to $50m in 2030, driven by increasing cardiovascular diseases risks.
In a report, the increasing burden of cardiovascular disease will help grow the demand for minimally invasive processes.
GlobalData identified severe aortic stenosis is one of the most common aortic valve diseases with a gradual blockage due to calcium build-up, thereby narrowing and even blocking the aortic valve.
With these factors, GlobalData sees that Australia’s prosthetic heart valve market, which is close to 8% of APAC market in 2023 is expected to grow at a compound annual growth rate (CAGR) of nearly 4% through 2030.
Ayshi Ganguly, medical devices analyst at GlobalData, said when primary treatment options for SAS do not respond for patients, valve replacement surgeries will be the alternative.
“However, post-implantation, these patients remain at a high risk of strokes and heart attacks,” added Ganguly.