June 24, 2024

Aortic Stenosis Market is Estimated to Witness High Growth Owing to Technological Advancements in Transcatheter Aortic Valve Replacement Procedures

The aortic stenosis market comprises devices and products used for the treatment of aortic valve stenosis through either open-heart surgery or transcatheter aortic valve replacement (TAVR) procedures. Aortic stenosis occurs when the aortic valve narrows and does not open fully, obstructing normal blood flow from the heart into the main artery and restricting the blood supply to the rest of the body. TAVR procedures provide a minimally invasive treatment option for severe aortic stenosis patients who are at high risk for open-heart surgery.

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 Biom├ędica, JenaValve Technology, Inc., Meril Life Sciences Pvt. Ltd., Micro Interventional Devices, Inc., and egnite, Inc. The key players in the market are focusing on new product launches and enhancing their geographical presence through partnerships and expansions.

The key opportunities in the aortic stenosis market include a large patient pool undergoing TAVR procedures due to growing popularity of minimally invasive surgeries, increasing demand for transcatheter technologies from emerging economies, and new product introductions.

Technological advancements in TAVR devices including new valve designs, delivery systems, and retrievable/repositionable systems aim to reduce paravalvular leaks, improve outcomes in low-risk populations and facilitate procedures in complex anatomies.

Market Drivers

The rising geriatric population prone to aortic valve diseases, increasing burden of rheumatic heart diseases, favorable medical reimbursements and regulatory approvals for TAVR procedures, and growing adoption of transcatheter heart valve technologies are some of the key factors expected to drive the growth of the global aortic stenosis market over the forecast period.

Current challenges in Aortic Stenosis Market:

The Aortic Stenosis Market faces various challenges currently related to increasing prevalence of aortic valve disorders, rising aging population who are more vulnerable to AS, limited treatment options especially for symptomatic severe AS patients, and lack of awareness. Delay in diagnosis also poses a major challenge. The asymptomatic phase of AS can last for several years but once symptoms appear, the condition progresses rapidly. More focus is needed on early detection to improve outcomes. High treatment costs also restrict access to care for many patients globally.

SWOT Analysis

Strength: Growing clinical evidence for newer interventional therapies like TAVR which are less invasive than SAVR. Emergence of newer devices and techniques.
Weakness: SAVR still remains the gold standard treatment for severe symptomatic AS but is highly invasive. TAVR adoption is still lower in developing nations.
Opportunity: Rising geriatric population susceptible to AS creates large market potential. Innovations in areas like valve design, delivery mechanisms.
Threats: Complications and valve durability issues remain long term concerns. Regulatory and reimbursement hurdles can slow market growth. Intense competition from existing and new industry players.

Geographical regions with market concentration

Currently, North America accounts for the largest share of the global Aortic Stenosis market, primarily due to the growing target patient population, favorable reimbursement policies, and strong presence of industry players. Europe is the second largest market due to rising adoption of TAVR. The Asia Pacific region is projected to grow at the fastest pace during the forecast period owing to increasing access to advanced treatments, growing healthcare expenditure, and rising medical tourism.

Fastest growing region

The Asia Pacific region is poised to register the highest growth in the Aortic Stenosis market during the forecast period from 2023 to 2030. This can be attributed to factors like rising aging demographics, growing incidence of cardiovascular diseases, improving healthcare infrastructure and investment, increasing preference for interventional procedures over surgery, and expanding medical tourism in the region. Additionally, growing awareness, technological advancements, and developing expertise are creating opportunities for key players to enter emerging Asia Pacific markets.

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  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it