The aortic stenosis market has been growing rapidly owing to the rising geriatric population globally and the increasing prevalence of aortic stenosis amongst the elderly. Aortic stenosis occurs when the aortic valve in the heart narrows and fails to open fully. This obstructs normal blood flow from the heart into the main artery and leads to an increase in the workload of the heart. If left untreated, it can cause chest pain, heart failure, and sudden cardiac death. In recent years, transcatheter aortic valve replacement (TAVR) technologies have emerged as a less invasive alternative to surgical aortic valve replacement for high-risk and inoperable patients. TAVR procedures involve threading a collapsed prosthetic valve through a catheter into the heart and implanting it to replace the narrowed aortic valve. The global aortic stenosis market size 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 of 2023 to 2030.
Key Takeaways
– Key players in the aortic stenosis market include 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.
– Increasing prevalence of aortic stenosis due to aging population and better diagnosis is creating lucrative growth opportunities for players in the aortic stenosis devices market.
– Advancements in TAVR technologies such as new balloon expandable and self-expanding valves, valve-in-valve procedures, and minimalistic delivery systems are expected to drive the adoption of TAVR over surgical aortic valve replacement.
Market Drivers
The rapid adoption of TAVR procedures over conventional open-heart surgery for aortic valve replacement is a major factor driving the growth of the aortic stenosis market. TAVR procedures are less invasive, require a shorter hospital stay, and enable faster recovery compared to surgical aortic valve replacement. As TAVR technologies continue to witness improvements in procedural outcomes with the latest generation of valves, its acceptance amongst healthcare professionals and patients as an alternative to surgery for high-risk patients will increase significantly. This is expected to propel the aortic stenosis market forward over the forecast period.
Current Challenges in the Aortic Stenosis Market
The aortic stenosis market faces several challenges currently. One of the key challenges is the lack of accurate and early diagnosis of aortic stenosis. While the condition often does not show noticeable symptoms initially, timely diagnosis is important for better outcomes. Limited public awareness about aortic stenosis is another challenge impacting early detection. The treatment options for severe symptomatic aortic stenosis also have certain limitations. Surgical aortic valve replacement is an invasive procedure and carries risks. Transcatheter aortic valve replacement procedures also have complication risks. Coordination of care among different specialists is also important to address for optimal patient management in aortic stenosis. Rise in obese population is contributing to higher prevalence of aortic stenosis posing additional burden on healthcare systems.
SWOT Analysis
Strength: Growing percutaneous alternative treatment options like TAVR provide less invasive treatment benefits.
Weakness: High costs associated with treatment procedures limit access in some regions.
Opportunity: Expanding populations at risk of aortic stenosis in emerging countries present growth opportunities.
Threats: Entry of generics and biosimilars post patent expiries of blockbuster drugs pose pricing and competitive threats.
In terms of value, North America region accounts for the major share in global aortic stenosis market currently primarily due to high diagnosis and treatment rates. Europe represents the second largest regional market supported by developed healthcare systems and infrastructure for cardiovascular conditions. Asia Pacific region is projected to witness the fastest growth over the forecast period aided by rising healthcare expenditure, growing medical tourism, and increasing focus on addressing cardiovascular diseases in rapidly developing economies.
The United States market currently holds the dominant share in the global aortic stenosis market in terms of value. However, China market is anticipated to register the fastest growth during forecast period owing to factors such as large population base, increasing access to diagnostic and treatment services led by healthcare reforms, and growing burden of heart valve diseases from aging population and lifestyle changes. Japan and India also present lucrative opportunities for players in aortic stenosis market given rapidly emerging healthcare infrastructure and medical capabilities in these countries.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
