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Aortic stenosis is a condition in which the aortic valve narrows, which obstructs blood flow from the heart into the main artery (aorta) and to the rest of the body. It causes the heart to work harder to pump blood to the body. The major treatment options available for aortic stenosis are balloon aortic valvuloplasty, transcatheter aortic valve replacement (TAVR) and surgical aortic valve replacement (SAVR). Transcatheter aortic valve replacement has gained increased popularity over conventional open-heart surgery due to its minimally invasive nature and faster recovery. Major players are focusing on gaining approval for their TAVR systems and launching newer product sizes and technologies to expand their product portfolios.
The global Aortic Stenosis Market is estimated to be valued at US$ 8.33 Bn 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:
The Aortic Stenosis Market is Expected to be Flourished by Rising Product Approvals and Launches (as mentioned in the heading). Regulatory approvals for newer TAVR systems in new geographies will propel the market growth over the forecast period. For instance, in April 2022, Edwards Lifesciences received CE Mark and Health Canada approval for its Sapien 3 Ultra system with the 16Fr Introducer for treatment of symptomatic severe aortic stenosis in intermediate- and high-risk patients.
Another driver for the market is increasing prevalence of aortic stenosis. As per the American Heart Association Statistics Committee and Stroke Statistics Subcommittee report, aortic stenosis affects approximately 3-6% of the population aged 75 years and older. Increased life expectancy and aging population will contribute to the rising incidence of aortic stenosis, thereby fueling the demand for treatment procedures and devices over the coming years.”
Segment Analysis
The global Aortic Stenosis Market is segmented by type into mild aortic stenosis, moderate aortic stenosis and severe aortic stenosis. The severe aortic stenosis segment is dominating the market owing to the high risk of conditions associated with it such as myocardial infarction, congestive heart failure, and sudden cardiac arrest if left untreated.
PEST Analysis
Political: The market is positively impacted by the supportive government regulations and reimbursement policies for aortic stenosis treatment procedures in developed regions.
Economic: The rising healthcare expenditure and availability of medical insurance are driving the market growth.
Social: Growing geriatric population suffering from aortic stenosis cardiovascular conditions is a key factor.
Technological: Advancements in transcatheter aortic valve replacement and surgical aortic valve replacement procedures are fueling the market growth.
Key Takeaways
The global Aortic Stenosis Market size was valued at US$ 8.33 Bn in 2023 and is projected to reach over US$ 15 Bn by 2030, expanding at a CAGR of around 10% during the forecast period. Regional analysis indicates that North America dominates currently due to advanced healthcare infrastructure and increasing TAVR procedures in the region. 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. Key players are focusing on new product launches and market expansion strategies to strengthen their product portfolio and market share.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
