Aortic Stenosis Market is Estimated To Witness High Growth Owing To Rapidly Increasing Adoption of Transcatheter Aortic Valve Replacement Procedures

The global aortic stenosis market is expected to witness high growth, exhibiting a CAGR of 15% over the forecast period, due to increasing Aortic Stenosis Market is Estimated To Witness High Growth Owing To Rapidly Increasing Adoption of Transcatheter Aortic Valve Replacement Procedures

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 the narrowing of aortic valve opening that prevents the heart from pumping sufficient blood into the aorta and to the rest of the body. Treatment options include surgical aortic valve replacement using either mechanical or biological valves, and minimally-invasive transcatheter aortic valve replacement (TAVR) procedures. TAVR procedures offer reduced complications, shorter hospital stays and fast recovery time as compared to open-heart surgeries.

Market key trends:

One of the major trends driving the growth of aortic stenosis market is rapidly increasing adoption of transcatheter aortic valve replacement (TAVR) procedures. Traditionally, surgical aortic valve replacement (SAVR) was the standard treatment for severe aortic stenosis. However, TAVR procedures are being increasingly preferred by patients and doctors due to their minimally-invasive nature and superior procedural outcomes as compared to SAVR. According to the Society of Thoracic Surgeons, the number of TAVR procedures have increased over four folds between 2012 to 2018 globally. Furthermore, advancements in TAVR technologies involving newer valve designs and delivery systems are supporting broader treatment of patient population with aortic stenosis including those at intermediate or low surgical risk.

Porter’s Analysis

Threat of new entrants: Low capital requirements and established brand loyalty in the aortic stenosis market make it difficult for new companies to enter. Bargaining power of buyers: Individual patients have little bargaining power, but group purchasing organizations for hospitals can negotiate lower prices from suppliers. Bargaining power of suppliers: Key technology and device manufacturers face low bargaining power of suppliers due to proprietary manufacturing processes and intellectual property. Threat of new substitutes: No major substitute treatments currently available pose a threat to devices and medications used for aortic valve replacement. Competitive rivalry: Intense competition exists among major players to develop innovative products and less invasive procedures.

SWOT Analysis

Strengths: Growing geriatric population and technological advancements in valves and procedures. Weaknesses: High cost of treatment and lack of awareness in developing nations. Opportunities: Rise in risk factors for AS and expansion in emerging markets. Threats: Stringent regulatory approvals and reimbursement issues.

Key Takeaways

prevalence of rheumatic heart disease and age-related degeneration. North America dominates the global market due to growth in aged population and presence of major players. Europe accounts for a significant share due to rise in adoption of transcatheter aortic valve replacement (TAVR) procedures. Asia Pacific shows lucrative prospects with surge in medical tourism and improving healthcare infrastructure.

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.

Read more: https://www.trendingwebwire.com/aortic-stenosis-market-forecast-analysis/