The aortic stenosis market comprises medical devices such as prosthetic heart valves and balloon valvuloplasty devices used for replacing the aortic valve. Aortic valve stenosis occurs due to the narrowing of the aortic valve opening, obstructing blood flow from the heart to the rest of the body. It mostly affects the elderly population due to normal wear and tear over time. The condition can cause symptoms such as chest pain, shortness of breath, dizziness, and fainting, which are indicative of the need for treatment.

The global aortic stenosis market is estimated to be valued at US$ 8.33 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030.

Key Takeaways

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 dominates the global market for aortic stenosis devices with its wide range of transcatheter heart valves.

The key opportunities in the aortic stenosis market include the increasing adoption of transcatheter aortic valve replacement (TAVR) procedures over open-heart surgeries and rising awareness regarding advanced treatment options. Developing economies in Asia Pacific and Latin America are expected to offer lucrative growth prospects for market players due to improving healthcare infrastructure and increasing healthcare expenditure in these regions.

Several market players are expanding their geographical footprint to tap the growth potential in international markets. For instance, in June 2022, Edwards Lifesciences expanded its transcatheter aortic valve replacement platform with the launch of the SAPIEN 3 Ultra and SAPIEN 3 Ultra Plus systems in select European countries and New Zealand. Meanwhile, Boston Scientific received CE Mark approval for its LOTUS Edge aortic valve system in August 2022 to market the device across European markets.

Market Drivers

The rapid growth of the geriatric population worldwide is a major driver for the aortic stenosis market. Aortic stenosis is an age-related condition with rising prevalence among the elderly. According to the UN Population Fund, the number of people aged 65 years and older is expected to reach 1.5 billion by 2050. Their susceptibility to aortic stenosis will correspondingly rise. Moreover, sedentary lifestyles and rising obesity levels are increasing the risk of cardiovascular issues in general populations.

Market Restrains

The high cost of transcatheter aortic valve replacement procedures acts as a key restraint for the aortic stenosis market. While TAVR is gaining favor over open-heart surgeries due to fewer complications and faster recovery times, the procedure and device costs remain significantly higher. This makes TAVR unaffordable for many patients, especially in low-income countries. The lack of adequate reimbursement and health insurance cover for TAVR in certain regions poses further challenges to market expansion. Extensive clinical trials are also required to establish the long-term safety and effectiveness of new aortic stenosis devices, hindering their swift approval and market entry.

Segment Analysis

The aortic stenosis market can be segmented based on product type, procedure type, end user and region. By product type, the transcatheter heart valves segment dominates the market as it is minimally invasive and reduces risks involved with open-heart surgeries. They offer faster recovery and have lower risks of mortality and complications. By procedure type, the transfemoral aortic valve replacement procedure segment accounts for the largest share as it is performed through small incisions in the groin area which allows for rapid recovery. By end user, the hospitals end user segment holds the highest market share due to availability of advanced medical infrastructure and medical professionals for treatment of aortic stenosis.

Global Analysis

Geographically, the North America region holds the major share in aortic stenosis market and is expected to continue dominating during the forecast period. This is attributed to factors such as growing geriatric population suffering from calcific aortic stenosis, rising prevalence of risk factors like obesity and diabetes, availability of advanced healthcare infrastructure and reimbursement frameworks. Asia Pacific region is projected to experience the highest growth rate during the forecast period owing to improving access to healthcare facilities, rising medical tourism industry and growing investments by key market players.

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