Every year, almost 18 million die of heart diseases, as per the World Health Organization (WHO). Moreover, John Muir Health says that valvular diseases, such as aortic stenosis, are diagnosed in 5 million people each year. Another valvular disease now becoming common is aortic regurgitation, in which the aortic valve doesn’t close properly, causing some of the blood pumped by the left ventricle to fall back into it. As per the WHO, almost 2% of the heart patients across the world have rheumatic heart disease (RHD), which is diagnosed in most people with aortic regurgitation.
With the rising prevalence of this and other diseases that affect the flow of the blood from the left ventricle to the aorta, the aortic valve market size is expected to grow from $7,568.3 billion in 2019 to $29,146.9 million by 2030, at a 13.2% between 2020 and 2030, as per P&S Intelligence. The aortic valve is, anyway, the most-important of the four cardiac valves, as it regulates the flow of oxygen-rich blood from the heart to all parts of the body. As a result, any malfunctioning in it can have detrimental effects on the health of people, even death.
An important factor that increases the risk of all such diseases is age. Old people are physically weaker, which is why their organs and tissues can easily malfunction. As per the United Nations (UN), in 2020, there were 727 million people in the age group of 65 and above in the world, and their number will increase to 1.5 billion by 2050. This will lead to a vast pool of people with cardiac diseases, which would create a surge in the volume of surgeries, including aortic valve replacements.
However, even while MISs are cost-effective compared to open surgeries, they are still costly. This is why Europe has been the largest aortic valve market, also supported by the regulatory approvals being received by an increasing number of such products. Additionally, Europe is home to an advanced healthcare sector, in which the major part of the expenditure comes from governments. Bringing these surgeries closer to patients is the favorable reimbursement scenario here, which makes these procedures more-easily accessible than in developing countries.
Hence, with the cases of diseases of the aortic valve increasing, the demand for its replacements will burgeon too.