Michael Barbella, Managing Editor05.03.23
Too much sitting and fatty foods is detrimental to human health but beneficial for Australia's heart valve market.
The sedentary lifestyle and unhealthy choices among the country's geriatric population will continue to put them at risk of cardiovascular diseases, especially after the COVID-19 pandemic, GlobalData asserts. Consequently, the rising burden of these diseases will likely increase the demand for minimally invasive procedures, such as Anteris Technologies’ DurAVR transcatheter heart valve. Against this backdrop, GlobalData estimates the domestic heart valve market to be worth $50 million in 2030.
Severe aortic stenosis (SAS) 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. Patients with SAS need multiple surgeries over their lifetime and often experience high mortality rates.
GlobalData’s research reveals that Australia’s prosthetic heart valve sector, which accounts for close to 8% of the Asia-Pacific (APAC) market in 2023, is expected to grow nearly 4% annually through 2030.
“Patients not responding to the primary treatment options for SAS mostly undergo biological, mechanical, and transcatheter valve replacement surgeries. However, post-implantation, these patients remain at a high risk of strokes and heart attacks,” GlobalData Medical Devices Analyst Ayshi Ganguly said.
In light of this, Anteris claims that its DurAVR balloon-expandable 3D single-piece transcatheter heart valve, which received extended FDA approval in Australia, is likely to decrease the risk of clot formation and gradually reduce the effort and cost of taking anticoagulant treatment lifelong. The company has also raised A$35 million, providing a significant competitive advantage over conventional valves in the Australian market.
“This justifies the rapid growth of prosthetic heart valve devices market in the Australian domestic market," Ganguly stated. "Such technology can be a promising treatment option that can help SAS patients reduce the risk of cardiovascular complications. This can be a turning point for the Australian cardiology market and will encourage international companies to invest in similar technologies soon.”
The sedentary lifestyle and unhealthy choices among the country's geriatric population will continue to put them at risk of cardiovascular diseases, especially after the COVID-19 pandemic, GlobalData asserts. Consequently, the rising burden of these diseases will likely increase the demand for minimally invasive procedures, such as Anteris Technologies’ DurAVR transcatheter heart valve. Against this backdrop, GlobalData estimates the domestic heart valve market to be worth $50 million in 2030.
Severe aortic stenosis (SAS) 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. Patients with SAS need multiple surgeries over their lifetime and often experience high mortality rates.
GlobalData’s research reveals that Australia’s prosthetic heart valve sector, which accounts for close to 8% of the Asia-Pacific (APAC) market in 2023, is expected to grow nearly 4% annually through 2030.
“Patients not responding to the primary treatment options for SAS mostly undergo biological, mechanical, and transcatheter valve replacement surgeries. However, post-implantation, these patients remain at a high risk of strokes and heart attacks,” GlobalData Medical Devices Analyst Ayshi Ganguly said.
In light of this, Anteris claims that its DurAVR balloon-expandable 3D single-piece transcatheter heart valve, which received extended FDA approval in Australia, is likely to decrease the risk of clot formation and gradually reduce the effort and cost of taking anticoagulant treatment lifelong. The company has also raised A$35 million, providing a significant competitive advantage over conventional valves in the Australian market.
“This justifies the rapid growth of prosthetic heart valve devices market in the Australian domestic market," Ganguly stated. "Such technology can be a promising treatment option that can help SAS patients reduce the risk of cardiovascular complications. This can be a turning point for the Australian cardiology market and will encourage international companies to invest in similar technologies soon.”