Aortic stenosis occurs when the aortic valve narrows, obstructing blood flow from the heart into the main artery of the body, the aorta. This can put strain on the heart and reduce the amount of blood pumped out to the body. Aortic stenosis is usually treated via surgical procedures such as aortic valve replacement to repair or replace the damaged valve. The minimally invasive procedures such as Transcatheter Aortic Valve Replacement (TAVR) helps in implantation of an artificial valve via catheter through small incisions rather than open-heart surgery, leading to less pain, quicker recovery and lower risk of complications for patients.
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.
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.
The increasing prevalence of aortic stenosis and technological advancements in transcatheter aortic heart valves are driving the demand for aortic stenosis treatment procedures. Major players are expanding globally with new product launches and partnership for enhanced access across countries.
Growing demand in the market:
The rising prevalence of aortic valve disease owing to ageing population is a key factor driving the growth of aortic stenosis market. As per estimates, 2-7% of people aged 75 and older have severe aortic stenosis. Also, the increasing adoption of minimally invasive procedures such as TAVR that offer benefits over open-heart surgery is boosting the market growth.
Global expansion of market:
The key players are focused on new product launches, partnerships and expanding their global footprint especially in developing countries. For instance, Edwards Lifesciences Corporation launched its SAPIEN 3 Ultra valve in the United State in 2022 for high-risk patients. Similarly, Medtronic plc partnered with Penumbra for stroke prevention post TAVR in certain regions. This is expected to provide growth opportunities in new geographies.
Market key trends
One of the key trends in the aortic stenosis market is the introduction of newer generation transcatheter heart valves (THV). Companies are developing innovative THV designs to address the anatomical challenges and improve clinical outcomes. For example, egnite Medical GmbH introduced its tri-leaflet transseptal valve Evolut PRO+ with a retractable skirt and adaptive seal for enhanced seal in smaller and less circular annulus.
Threat of new entrants: The aortic stenosis market requires high R&D investments and regulatory approvals which make the entry barriers high for new players.
Bargaining power of buyers: Individual buyers have low bargaining power due to availability of few treatment options however large volume buyers like hospitals have some influence on pricing.
Bargaining power of suppliers: Suppliers of valve replacement devices and other materials have moderate bargaining power due to availability of substitutes and dominance of few large players in the market.
Threat of new substitutes: Alternative treatment options like balloon valvuloplasty, leaflet repair and catheter-based valve replacement provide some threat of substitution.
Competitive rivalry: The market is dominated by few big players and maintains high competition in terms innovations and market share.
Geographically, North America accounts for the largest share in aortic stenosis market mainly due to growing geriatric population and rising prevalence of valvular heart diseases. The region is expected to remain most lucrative market during forecast period. Asia Pacific region is anticipated to witness fastest growth rate over next few years supported by improving healthcare facilities, rising medical tourism and escalating demand for non-invasive procedures in developing countries.
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it