Aortic Stenosis Market Estimated to Witness High Growth Owing to Increasing Geriatric Population

Aortic stenosis is a condition where the aortic valve in the heart becomes narrow and hinders normal blood flow from the heart into the main artery (aorta). It is the most common type of valvular heart disease in developed nations and usually occurs in people over 75 years of age. Surgical treatments include repairing the aortic valve through open-heart surgery or replacing it with an artificial aortic heart valve. Transcatheter aortic valve replacement (TAVR), also called Transcatheter aortic valve implantation (TAVI), is a minimally invasive surgical procedure to treat aortic stenosis in high surgical risk patients.

The global aortic stenosis market is estimated to be valued at US$ 8.33 Bn or Mn in 2023 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 Dynamics:

One of the key drivers fueling growth of the aortic stenosis market is the rapidly increasing geriatric population. According to World Bank data, the global population aged 65 years and above is expected to reach 1.5 billion by 2050, up from 703 million in 2019. The risk of aortic stenosis increases considerably with age and it is rarely seen in people younger than 60. The growing elderly demographic will correspondingly drive up prevalence of age-related valvular diseases such as aortic stenosis in the coming years. Additionally, technological advancements in transcatheter aortic valve replacement (TAVR) procedures have enabled treating high-risk surgical patients more effectively. TAVR devices with improved delivery systems and valve designs have expanded treatment options and driven their adoption over conventional open-heart surgery. An increasing number of clinical trials evaluating safety and efficacy of new generation TAVR systems will also support market revenue growth over the forecast period from 2023 to 2030.

SWOT Analysis

Strength: The aortic stenosis market has a growing geriatric population who are more prone to aortic stenosis. Valve replacements using transcatheter aortic valve replacement (TAVR) have gained popularity as they are minimally invasive procedures and reduce recovery time. Many players are investing in R&D to develop innovative TAVR technologies.

Weakness: High costs associated with treatment procedures like TAVR can limit the adoption in price sensitive markets. Stringent regulatory approvals for new product launches delay time to market.

Opportunity: Emerging economies in Asia Pacific provide growth opportunities due to huge patient pools and increasing healthcare expenditures. Investments in creating awareness can help detect the condition early. Developing economies offer relatively lower treatment costs.

Threats: Complications and risks associated with surgical procedures hinder the market growth. Alternative treatments like medical management and lifestyle changes reduce the reliance on valve replacements.

Key Takeaways

The global aortic stenosis market is expected to witness high growth over the forecast period of 2023 to 2030. The market size for 2023 is estimated to be US$ 8.33 Bn registering a CAGR of 10%.

Regional analysis reveals that North America currently dominates due to the presence of major players and developed healthcare infrastructure. The Asia Pacific region offers high growth potential owing to growing medical tourism and rapid economic development.

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. Their main focus is on innovation through R&D to develop minimally invasive TAVR procedures.