December 8, 2024

Rising Geriatric Population Boosts Growth of Aortic Stenosis Market

“Rising Geriatric Population Boosts Growth of Aortic Stenosis Market”

The global Aortic Stenosis Market is estimated to be valued at US$ 14.18 Bn in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Aortic stenosis occurs when the aortic valve narrows and does not open fully. This prevents the heart from pumping enough blood into the main artery (aorta) that carries blood to the body. The aortic valve is located between the left ventricle of the heart and the aorta. Aortic stenosis, also called aortic valve stenosis, can be congenital (present at birth) or acquired later in life. It is the most common valvular abnormality in older adults in industrialized nations. The aortic stenosis market includes devices for diagnosis like echocardiography and treatments like aortic valve replacement surgery either through open-heart surgery or transcatheter aortic valve replacement (TAVR). Transcatheter valve therapies are gaining popularity due to their minimally invasive nature, faster recovery and growing preference among geriatric patients.

Market key trends:
The key driver for the aortic stenosis market is the rising geriatric population globally which is more prone to develop age-related aortic valve stenosis. According to the United Nations, the population aged 60 years or over is growing at a rate of about 3% per year and will more than double by 2050 to reach around 2.1 billion. Also, developed economies are experiencing significant increase in life expectancy contributing to a rapidly expanding aged population. Transcatheter aortic valve replacement has emerged as a less invasive alternative to surgical aortic valve replacement for high-risk or inoperable patients. Favorable reimbursements and clinical trial results demonstrating the safety and efficacy of TAVR are further supporting the market growth. Innovation of new valve designs, delivery systems and further expansion of indications to intermediate-risk patients are expected to drive robust market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low due to high capital requirements and stringent regulatory and safety standards required for implantable medical devices.
Bargaining power of buyers: The bargaining power of buyers is moderate as the severeness of aortic stenosis can have significant effects on patient health and there are few treatment alternatives available.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are few raw material suppliers for device components.
Threat of new substitutes: The threat of new substitutes is moderate as newer interventional cardiology techniques continue to emerge but surgical aortic valve replacement still remains the standard of care.
Competitive rivalry: High due to presence of key players.

Key Takeaways:
The global aortic stenosis market is expected to witness high growth, exhibiting CAGR of 15% over the forecast period, due to increasing prevalence of aortic stenosis and technological advancements.

North America dominate the global aortic stenosis market and is expected to continue its dominance over the forecast period owing to high procedure volumes, advanced healthcare infrastructure, and favorable reimbursement scenario in the region. Asia Pacific exhibits the fastest growth rate owing to growing geriatric population, increasing healthcare expenditures, and growing awareness.

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. Key players are focusing on new product launches and approvals to consolidate their market position.

“Rising Geriatric Population Boosts Growth of Aortic Stenosis Market”

The global Aortic Stenosis Market is estimated to be valued at US$ 14.18 Bn in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Aortic stenosis occurs when the aortic valve narrows and does not open fully. This prevents the heart from pumping enough blood into the main artery (aorta) that carries blood to the body. The aortic valve is located between the left ventricle of the heart and the aorta. Aortic stenosis, also called aortic valve stenosis, can be congenital (present at birth) or acquired later in life. It is the most common valvular abnormality in older adults in industrialized nations. The aortic stenosis market includes devices for diagnosis like echocardiography and treatments like aortic valve replacement surgery either through open-heart surgery or transcatheter aortic valve replacement (TAVR). Transcatheter valve therapies are gaining popularity due to their minimally invasive nature, faster recovery and growing preference among geriatric patients.

Market key trends:
The key driver for the aortic stenosis market is the rising geriatric population globally which is more prone to develop age-related aortic valve stenosis. According to the United Nations, the population aged 60 years or over is growing at a rate of about 3% per year and will more than double by 2050 to reach around 2.1 billion. Also, developed economies are experiencing significant increase in life expectancy contributing to a rapidly expanding aged population. Transcatheter aortic valve replacement has emerged as a less invasive alternative to surgical aortic valve replacement for high-risk or inoperable patients. Favorable reimbursements and clinical trial results demonstrating the safety and efficacy of TAVR are further supporting the market growth. Innovation of new valve designs, delivery systems and further expansion of indications to intermediate-risk patients are expected to drive robust market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low due to high capital requirements and stringent regulatory and safety standards required for implantable medical devices.
Bargaining power of buyers: The bargaining power of buyers is moderate as the severeness of aortic stenosis can have significant effects on patient health and there are few treatment alternatives available.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are few raw material suppliers for device components.
Threat of new substitutes: The threat of new substitutes is moderate as newer interventional cardiology techniques continue to emerge but surgical aortic valve replacement still remains the standard of care.
Competitive rivalry: High due to presence of key players.

Key Takeaways:
The global aortic stenosis market is expected to witness high growth, exhibiting CAGR of 15% over the forecast period, due to increasing prevalence of aortic stenosis and technological advancements.

North America dominate the global aortic stenosis market and is expected to continue its dominance over the forecast period owing to high procedure volumes, advanced healthcare infrastructure, and favorable reimbursement scenario in the region. Asia Pacific exhibits the fastest growth rate owing to growing geriatric population, increasing healthcare expenditures, and growing awareness.

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. Key players are focusing on new product launches and approvals to consolidate their market position.

“Rising Geriatric Population Boosts Growth of Aortic Stenosis Market”

The global Aortic Stenosis Market is estimated to be valued at US$ 14.18 Bn in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Aortic stenosis occurs when the aortic valve narrows and does not open fully. This prevents the heart from pumping enough blood into the main artery (aorta) that carries blood to the body. The aortic valve is located between the left ventricle of the heart and the aorta. Aortic stenosis, also called aortic valve stenosis, can be congenital (present at birth) or acquired later in life. It is the most common valvular abnormality in older adults in industrialized nations. The aortic stenosis market includes devices for diagnosis like echocardiography and treatments like aortic valve replacement surgery either through open-heart surgery or transcatheter aortic valve replacement (TAVR). Transcatheter valve therapies are gaining popularity due to their minimally invasive nature, faster recovery and growing preference among geriatric patients.

Market key trends:
The key driver for the aortic stenosis market is the rising geriatric population globally which is more prone to develop age-related aortic valve stenosis. According to the United Nations, the population aged 60 years or over is growing at a rate of about 3% per year and will more than double by 2050 to reach around 2.1 billion. Also, developed economies are experiencing significant increase in life expectancy contributing to a rapidly expanding aged population. Transcatheter aortic valve replacement has emerged as a less invasive alternative to surgical aortic valve replacement for high-risk or inoperable patients. Favorable reimbursements and clinical trial results demonstrating the safety and efficacy of TAVR are further supporting the market growth. Innovation of new valve designs, delivery systems and further expansion of indications to intermediate-risk patients are expected to drive robust market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low due to high capital requirements and stringent regulatory and safety standards required for implantable medical devices.
Bargaining power of buyers: The bargaining power of buyers is moderate as the severeness of aortic stenosis can have significant effects on patient health and there are few treatment alternatives available.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are few raw material suppliers for device components.
Threat of new substitutes: The threat of new substitutes is moderate as newer interventional cardiology techniques continue to emerge but surgical aortic valve replacement still remains the standard of care.
Competitive rivalry: High due to presence of key players.

Key Takeaways:
The global aortic stenosis market is expected to witness high growth, exhibiting CAGR of 15% over the forecast period, due to increasing prevalence of aortic stenosis and technological advancements.

North America dominate the global aortic stenosis market and is expected to continue its dominance over the forecast period owing to high procedure volumes, advanced healthcare infrastructure, and favorable reimbursement scenario in the region. Asia Pacific exhibits the fastest growth rate owing to growing geriatric population, increasing healthcare expenditures, and growing awareness.

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. Key players are focusing on new product launches and approvals to consolidate their market position.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it

 

Money Singh
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. 

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. 

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