Source: GlobalData
Cardiac valve repair devices market to see significant growth in Middle East and Africa, says GlobalData
Posted in Medical Devices
Increased investments in healthcare infrastructure and advancements in medical research facilities are fostering the growth of cardiac valve repair devices in the Middle East and Africa (MEA). Additionally, the region’s aging population, improved life expectancy, and greater awareness among both patients and physicians about available treatment options contribute to the rising demand for those devices. Against this backdrop, the MEA cardiac valve repair devices market is expected to experience significant growth in the coming years, according to GlobalData, a leading data and analytics company.
According to GlobalData’s latest models, mitral valve annuloplasty devices will see the strongest growth in the region, with a compound annual growth rate (CAGR) exceeding 8% from 2024 to 2034.
Thomas Fleming, Medical Analyst at GlobalData, comments: “Valve repair is generally preferred over replacement for eligible patients due to its association with lower short-term and long-term mortality and morbidity rates. The growing prevalence of mitral valve regurgitation and valvular stenosis further supports the demand for repair devices. Additionally, the cost of valve repair devices and procedures is lower compared to alternative treatments, making them a viable option for healthcare providers and patients.”
Fleming continues, “However, challenges exist with the popularity of transcatheter mitral valve repair (TMVR) and transcatheter aortic valve replacement (TAVR) devices. The increased adoption and availability of these devices could lead to disruptions.”
Currently, Medtronic holds the highest market share in the MEA region for cardiac valve repair devices, followed by Edwards Lifesciences. As the market evolves, continued investments in research and innovation will be crucial in shaping the competitive landscape in the MEA.
Fleming concludes: “South Africa mirrors the broader regional trends, standing among the highest healthcare investors in Africa. As the country’s aging population continues to grow, it is expected to see an increasing adoption of valve repair treatments.”