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The aortic stenosis market consists of minimally invasive and surgical procedures to replace or repair aortic valves that have narrowed. Aortic stenosis limits blood flow from the heart into the main artery of the body. As the condition worsens over time, it can lead to heart failure or sudden cardiac death if left untreated.
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, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising prevalence of aortic stenosis has been a key driver propelling growth of the aortic stenosis market over the past few years. According to recent studies, nearly 4% of people aged 75 and older have aortic stenosis. With the aging population globally, the number of people diagnosed with aortic stenosis is expected to increase significantly. As per estimates, there will be approximately 700 000 new diagnosed cases per year by 2030. This rising disease burden will augment demand for both surgical and transcatheter aortic valve replacement procedures, fueling revenue growth of the aortic stenosis market over the forecast period.
SWOT Analysis
Strength: The rising geriatric population which is at high risk of developing aortic stenosis globally acts as a driver for the market. Growing healthcare expenditure also boosts the market growth.
Weakness: Surgical procedures like aortic valve replacement are highly invasive in nature posing risk to older patients, restricting the market growth. Lack of awareness about aortic stenosis in developing regions is also a weakness.
Opportunity: Development of minimally invasive transcatheter aortic valve replacement (TAVR) provides new opportunities by reducing risks for high-risk patients. Rising research and development activities for early diagnosis presents opportunities.
Threats: Presence of alternative treatment options for aortic stenosis like balloon valvuloplasty, pacemaker implantation poses threat to market growth. High cost of treatment procedures also restricts the market penetration in low income regions.
Key Takeaways
The global aortic stenosis market is expected to witness high growth. 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.
Regionally, North America dominates the market currently due to advanced healthcare infrastructure and higher treatment rates. growing geriatric population suffering from hypertension and cardiovascular diseases will continue to drive the North America market.
Europe is also a major market for aortic stenosis currently owing to increasing government initiatives and funding for early diagnosis. However, Asia Pacific region is expected to grow at the fastest pace during the forecast period with rising medical tourism and availability of low cost treatment options.
Key players operating in the aortic stenosis market are Boston Scientific Corporation, Medtronic, Abbott, Edwards Lifesciences Corporation, LivaNova Plc. These players are focusing on new product launches, expansion of manufacturing facilities and collaboration activities for further growth. For instance, Edwards Lifesciences launched new version of SAPIEN 3 transcatheter heart valve in 2021 to treat aortic stenosis.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
