Surgical Heart Valve Replacement is the largest segment driving the growth of the Aortic Stenosis Market
The global Aortic Stenosis Market is estimated to be valued at US$ 14.18 Bn in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Aortic stenosis refers to the narrowing of the aortic valve opening, which restricts the blood flow from the heart to the rest of the body. The devices used in the treatment of aortic stenosis include surgical heart valves, transcatheter heart valves and other accessories. Surgical heart valve replacement is still considered as the gold standard treatment for severe symptomatic aortic stenosis.
Market key trends:
One of the key trends in the aortic stenosis market is the rising adoption of transcatheter aortic valve replacement (TAVR) technology. TAVR is a minimally invasive surgical procedure to treat high-risk or inoperable patients with severe aortic stenosis. Compared to open-heart surgical aortic valve replacement (SAVR), TAVR offers advantages such as shorter hospital stay and faster recovery time. Moreover, constant technological advancements in TAVR devices such as expanding indications for intermediate-risk patients and self-expanding valves are further propelling the demand for TAVR procedures globally.
SWOT Analysis
Strength: Aortic stenosis is one of the most common types of valvular heart disease and its prevalence is steadily increasing with the aging population. This rising disease prevalence is expected to drive the market growth over the forecast period.
Weakness: High costs associated with aortic stenosis procedures such as aortic valve replacement is a major limitation for the market. Lack of awareness about symptoms and treatment options for the disease in developing regions also acts as a weakness.
Opportunity: Advances in minimally invasive transcatheter aortic valve replacement (TAVR) procedures over surgical aortic valve replacement (SAVR) provide lucrative growth opportunities. Rising geriatric population globally necessitates innovative treatment options for improved patient outcomes.
Threats: Presence of alternative treatment therapies and reimbursement issues in some countries pose threats to market growth. Strict regulatory approvals for new devices and high R&D costs also impede the market expansion.
Key Takeaways
The global Aortic Stenosis Market is expected to witness high growth, exhibiting 15% CAGR over the forecast period, due to increasing prevalence of valvular heart diseases with rising elderly population.
The global Aortic Stenosis Market size was valued at US$ 14.18 Bn in 2023 and is expected to reach US$ 42.11 Bn by 2030, expanding at a considerable CAGR of 15%.
North America dominated the aortic stenosis market and accounted for maximum share in 2023 owing to presence of advanced healthcare infrastructure and rising geriatric population. Asia Pacific is anticipated to witness fastest growth during the forecast period fueled by increasing health awareness, healthcare expenditure and availability of low-cost treatment options.
Key players operating in the Aortic Stenosis market are Edwards Lifesciences Corporation, Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, LivaNova PLC, CryoLife, Inc., Braile Biomédica, JenaValve Technology, Inc., Meril Life Sciences Pvt. Ltd., and Micro Interventional Devices, Inc.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it