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The aortic stenosis market comprises surgical treatments and transcatheter interventions used in the treatment of aortic stenosis – a common form of heart valve disease caused by narrowing of the aortic valve opening resulting in obstruction of blood flow from the heart to the rest of the body. Surgical therapies for aortic stenosis include aortic valve replacement via open-heart surgery, whereas transcatheter therapies involve implantation of a replace valve via a minimally invasive catheter procedure commonly referred to as transcatheter aortic valve replacement (TAVR). Factors such as the aging population and rising prevalence of risk factors have contributed to the increasing burden of aortic stenosis globally. Moreover, the development and rapid adoption of TAVR procedures have provided an alternative to open-heart surgeries, driving the growth of the aortic stenosis market.
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 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 Takeaways
Key players in the aortic stenosis market:
Key players operating in the aortic stenosis 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. Edwards Lifesciences Corporation and Medtronic plc currently dominate the aortic stenosis device market.
Growing demand:
The demand for aortic stenosis treatment devices is increasing globally driven by the rising prevalence of aortic stenosis and the shift from surgical to minimally invasive transcatheter procedures. Moreover, expanding indications for TAVR and its adoption in younger patient populations are fueling market growth.
Global expansion:
Key players in the market are investing in research to develop innovative transcatheter valve technologies as well as expanding their presence across international markets. Additionally, the increasing accessibility of TAVR procedures in developing nations is expected to support the global expansion of the aortic stenosis market over the forecast period.
Market Key Trends
One of the key trends in the aortic stenosis market is the shift from surgical aortic valve replacements to transcatheter aortic valve replacement (TAVR) procedures. Factors such as the proven safety and efficacy of TAVR, growing body of clinical evidence, and reduced risks, pain, and recovery time associated with TAVR compared to open-heart surgeries have led to its increased adoption among hospitals and healthcare professionals for the treatment of aortic stenosis. This is expected to significantly drive the growth of the aortic stenosis device market, especially transcatheter valve technologies over the forecast period.
Porter’s Analysis
Threat of new entrants: Low entry barriers for manufacturers as technology is well established. However, established players have scale advantages and strong distribution networks.
Bargaining power of buyers: Individual patients have low bargaining power but group purchasing organizations can negotiate on price and service quality.
Bargaining power of suppliers: Key device manufacturers have significant bargaining power over raw material suppliers due to their scale and supply needs.
Threat of new substitutes: Technological advancements can provide alternative line of treatment like Transcatheter Aortic Valve Replacement (TAVR) thus posing threat.
Competitive rivalry: Intense competition among key players to gain market share. Manufacturers focus on product innovation, reducing costs and expanding geographies.
Geographical Regions
North America currently holds the major share of the aortic stenosis market in terms of value due to rising geriatric population, growing adoption of TAVR procedures and presence of key players.
Asia Pacific is expected to grow at the fastest rate during the forecast period owing to increasing cases of rheumatic heart disease, improving healthcare infrastructure and rising medical tourism. Countries like India, China and Japan are likely to experience high demand.
Geographical Regions
The aortic stenosis market in the United States is currently the largest by value owing to factors like favorable reimbursement policies, increasing aging population and rising adoption of transcatheter treatments.
China is anticipated to be the fastest growing market for aortic stenosis due to its large patient pool, growing medical tourism, rising healthcare spending and improving healthcare infrastructure. The demand is further expected to increase in other Asian countries as well.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
