Aortic Stenosis Market Is Estimated To Witness High Growth Owing To Growing Geriatric Population

The 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 occurs due to narrowing of the aortic valve opening, which obstructs blood flow from the heart to the rest of the body. Devices used for treatment of aortic stenosis include surgical aortic valve replacement and transcatheter aortic valve replacement. Surgical aortic valve replacement requires an open-heart surgery to replace the diseased valve, while transcatheter aortic valve replacement involves inserting a replacement valve through a small incision in leg artery.

Market Dynamics:
The aortic stenosis market is expected to witness significant growth over the forecast period owing to growing geriatric population. As per World Health Organization, the population aged over 65 years is expected to surpass 1.5 billion by 2050 from an estimated 524 million in 2010. With age, valve leaflets become calcified and stiff, leading to aortic stenosis. Growing adoption of minimally invasive procedures such as transcatheter aortic valve replacement over conventional open-heart surgeries is also expected to drive the market growth during the forecast period. Furthermore, technological advancements in transcatheter valves offering better hemodynamic performance are expected to fuel the market growth.

SWOT Analysis
Strength: The aortic stenosis market has strong growth potential due to the increasing geriatric population globally that is highly susceptible to aortic valve diseases. The availability of various treatment options such as catheter-based valve replacement is driving the market growth. Transcatheter aortic valve replacement (TAVR) procedures are minimally invasive and have high success rates with less recovery time compared to open-heart surgeries.

Weakness: High cost of procedures involving TAVR devices is one of the major limitations for market growth. Availability of skilled healthcare professionals to perform complex procedures such as TAVR is still a challenge in many parts of the world.

Opportunity: Emerging economies are expected to provide significant growth opportunities owing to expanding healthcare infrastructure and rising medical tourism. Increasing research and development activities for developing new aortic valve technologies will further aid the market expansion over the forecast period.

Threats: Stringent regulatory approval process and post-market surveillance requirements could act as a deterrent for new market entrants. Mechanical failures and structural degeneration of TAVR devices are also some of the threats faced by industry players.

Key Takeaways

The global aortic stenosis market is expected to witness high growth, exhibiting CAGR of 15.% over the forecast period, due to increasing prevalence of rheumatic heart disease and degenerative aortic stenosis conditions. As per research, over 23 million people globally suffer from aortic valve stenosis each year.

Regional analysis

The aortic stenosis devices market in North America currently dominates owing to the rising geriatric population, new product launches, and favorable reimbursement policies in this region. Europe and Asia Pacific regions are also projected to register notable growth in the market. This can be attributed to increasing focus of market players on emerging countries and growing awareness regarding valvular heart diseases.

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. These players are focusing on new product approvals and launches to strengthen their market position.

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