1. Health

Aortic Stenosis Market: Insights into Market Dynamics and Future Outlook

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The aortic stenosis market comprises products such as bioprosthetic heart valves, transcatheter heart valves, and other devices that are used in minimally invasive procedures for the treatment of aortic stenosis. Due to advancement in valve replacement technologies, there is increasing adoption of transcatheter aortic valve replacement and minimally invasive surgeries over open-heart surgeries for aortic stenosis treatment.

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 Takeaways
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 rising geriatric population is leading to the increasing prevalence of aortic stenosis. As per data by WHO, the number of people aged 60 years and above is expected to reach 2 billion by 2050 from 1 billion in 2020. Technological advancements are leading to the development of innovative transcatheter heart valves and minimally invasive surgical procedures.

Market Trends
Transcatheter aortic valve replacement (TAVR) procedures are gaining faster adoption compared to surgical aortic valve replacement due to its minimally invasive nature.Tricuspidaortic valves are emerging as an alternative to traditional aortic bioprosthetic valves as they better mimic the native aortic valve anatomy and hemodynamics.

Market Opportunities
Untapped emerging markets in Asia Pacific and Latin America hold significant opportunity for players in the aortic stenosis market due to increasing healthcare expenditure and growing patient awareness. There is increasing focus on development ofnext-generation transcatheter heart valves with longer durability and improvedhemodynamics to offer superior clinical outcomes. Self-expanding transcatheter heart valvesare also innovated to simplify implantation procedures.

Impact of COVID-19 on Aortic Stenosis Market Growth:

The COVID-19 pandemic significantly impacted the growth of the aortic stenosis market in 2020. Lockdowns and travel restrictions imposed by various governments led to the postponement of non-emergency surgeries and interventions. This resulted in a declined demand for aortic stenosis diagnostic procedures and treatments during the initial phases of the pandemic. However, as restrictions are being gradually lifted, the market is expected to regain momentum.

Telemedicine solutions emerged as a boon for cardiac patients during the pandemic. They enabled virtual consultations and remote monitoring of patients, thus preventing unnecessary exposure to the virus. Going forward, the adoption of digital healthcare is likely to continue post-pandemic. Manufacturers are also investing in the development of minimally invasive therapies and devices to reduce hospital stays. With the availability of vaccines, the market is poised to rebound strongly over the forecast period on the back of rising disease prevalence and ageing population.

North America Accounts for Highest Value Share in Aortic Stenosis Market:

North America currently dominates the aortic stenosis market and accounts for the highest value share. This can be attributed to the region's superior healthcare infrastructure, skilled medical professionals, and higher healthcare spending. The US leads demand growth due to the large patient population and widespread insurance coverage for cardiac procedures. Manufacturers are rapidly launching innovative and advanced treatment solutions in the country. Asia Pacific is the fastest growing regional market on account of improving access to healthcare services, economic development, growing medical tourism, and rising elderly population burdened by heart valve diseases. China, India, and Japan are expected to spearhead growth opportunities for players in the coming years.

Europe Captures Second Largest Value Share in Aortic Stenosis Market:

Europe captures the second largest value share in the global aortic stenosis market. This can be accredited to factors such as rising life expectancy, growing obesity and diabetes prevalence driving valve disorders, and government support for advanced medical technologies. Germany, France and the UK account for the maximum regional revenue and have well-established healthcare infrastructure and reimbursement facilities for cardiac procedures. Meanwhile, healthcare infrastructure expansions and increasing per capita incomes in developing economies are boosting the market across Latin America and the Middle East & Africa. Robust demand from Brazil and South Africa is fueling business development plans of market participants in these regions.

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