The aortic stenosis market is gaining prominence on account of increasing geriatric population worldwide and rising prevalence of heart diseases. Aortic stenosis occurs when the heart valve narrows and fails to completely open due to calcified deposits on the valve leaflets. This obstructs normal blood flow from the heart into the main artery and leads to an increased workload on the heart. Devices used to treat aortic stenosis include surgical tissue heart valves, transcatheter heart valves, and others. Transcatheter heart valves are minimally invasive alternative to treat aortic stenosis. They avoid complications related to open-heart surgery and are an attractive option for high-risk patients.
The global aortic stenosis market is estimated to be valued at US$ 8.33 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing prevalence of heart diseases due to unhealthy lifestyle practices and rising geriatric population is one of the key driving factors for the aortic stenosis market. As per the WHO, cardiovascular diseases are the number one cause of death globally, taking an estimated 17.9 million lives each year. Aging is a major risk factor for aortic stenosis as the calcium deposit increases with age, affecting nearly 4-9% of population over 65 years old. Adoption of sedentary lifestyle, tobacco and alcohol use, improper diet have contributed significantly to rising cases of heart diseases. Furthermore, technological advancements in transcatheter heart valves bringing less invasive treatment options is expected to propel the market growth over the forecast period. However, high costs and lack of reimbursement policies in some countries may hamper the market expansion.
SWOT Analysis
Strength: Aortic stenosis is a common heart condition with high prevalence and increasing awareness about its symptoms and available treatment options. Weakness: The transcatheter aortic valve replacement (TAVR) procedure requires specialized infrastructure and training which is still limited in many regions. Opportunity: Advancements in valve technologies like self-expanding valves and procedures like the valve-in-valve approach expand the treatable patient pool. Threats: Stringent regulatory approvals and reimbursement policies pose challenges to market players. Initial cost of procedures is also relatively high.
Key Takeaways
The global Aortic Stenosis Market is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 8.33 Bn in 2023 and is anticipated to grow at a CAGR of around 10% during the forecast period.
Regional analysis: North America currently dominates the global market due to rising incidence of aortic stenosis and early adoption of advanced treatment procedures in the region. Europe and Asia Pacific also offer lucrative opportunities with expanding patient pools and growing medical infrastructure in major countries.
Key players: 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., Micro Interventional Devices, Inc., and egnite, Inc. Edwards Lifesciences holds the leading market share with its portfolio of surgical valves and TAVR systems.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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