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Aortic stenosis is a condition wherein the aortic valve between the heart’s left ventricle and the main artery (aorta) becomes narrowed. This constriction inhibits the normal flow of blood from the heart to the rest of the body. Aortic stenosis gradually worsens over time and can become life-threatening if left untreated. Devices such as tissue heart valves, mechanical heart valves, and transcatheter heart valves are widely utilized in the treatment of severe symptomatic aortic stenosis. Advantages of transcatheter aortic valve replacement (TAVR) procedure over surgical aortic valve replacement (SAVR) include less invasive approach, faster recovery time, and lower risk of mortality. Rapid technological advancements have enabled the treatment of high-risk patient groups who were previously ineligible for surgical aortic valve replacement.
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, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends contributing to the growth of the aortic stenosis market is the rising geriatric population worldwide. Age is a significant risk factor for aortic stenosis, as the condition usually affects the elderly population. According to the World Health Organization (WHO), the number of people aged 60 years and above is expected to double from 12% to 22% between 2015 and 2050 globally. Other major ageing regions include Europe, where one-fourth of its population will be aged 65 or older by 2030. This demographic shift will boost the demand for aortic stenosis treatment procedures and devices. Moreover, favorable reimbursement policies in developed regions are encouraging the adoption of TAVR procedures over SAVR. For instance, in the U.S., Medicare provides coverage for TAVR for patients who meet certain criteria. Development of new-generation TAVI systems with low risks of stroke, vascular complications, and paravalvular leak are also fueling the market growth.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the aortic stenosis market is moderate. Establishing manufacturing facilities and obtaining regulatory approvals requires significant investments which act as a barrier.
Bargaining power of buyers: The bargaining power of buyers in the aortic stenosis market is high. The presence of many regional suppliers provides buyers with alternatives.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. The presence of many manufacturers reduces the dependence on a single supplier.
Threat of new substitutes: The threat of substitutes is low as there are limited treatment options for aortic stenosis currently.
Competitive rivalry: The competitive rivalry in the market is high due to the presence of many regional and global players.
Key Takeaways
The global aortic stenosis market is expected to witness high growth over the forecast period of 2023 to 2030. 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.
North America is expected to dominate the global aortic stenosis market during the forecast period. Growing prevalence of valvular heart diseases and availability of advanced treatment options are some major factors driving the growth of the market in the region.
Key players operating in the aortic stenosis market are Boston Scientific Corporation, Edwards Lifesciences Corporation, Abbott Laboratories, LivaNova Plc, and Medtronic Plc.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
