Rockville, MD., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Fact.MR, a market research and competitive intelligence provider, in its newly published research report, reveals that the global aortic stenosis treatment market is expected to reach a value of USD 7.57 billion in 2024. Worldwide revenue from the sales of aortic stenosis treatment solutions is projected to rise at a CAGR of 9.7%, reaching an estimated value of USD 19.09 billion by the end of 2034.
More companies are now actively involved in developing bio-prosthetic heart valves for use in minimizing adverse issues, which are otherwise caused due to the use of mechanical ones. Newly developed heart valves are specifically engineered with the use of biomaterials to mimic natural human issues closely. They are comparatively more durable and remove the risks of reoperation which was there with conventional valves. Moreover, the growing population of aging people, who are more prone to different health issues, including aortic stenosis, is also creating lucrative opportunities for market players.
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North America, by far, leads the global market as far as revenue generation is concerned, with Europe coming in at a distant second. Talking about the treatment types, transcatheter aortic valve replacement accounts for around two-thirds of overall revenue generation.
Key Takeaway from Market Study:
- The global aortic stenosis treatment market is projected to reach a value of US$ 19.09 billion by the end of 2034.
- The market in India is forecasted to expand at a CAGR of 14.5% from 2024 to 2034.
- Demand for aortic stenosis treatment solutions in South Korea is evaluated to increase at 10.5% CAGR through 2034.
- North America is forecasted to account for 44.3% of the global market share by 2034.
- Transcatheter aortic valve replacement (TAVR) solutions are projected to account for 67.9% share of the global market by 2034.
- Revenue for aortic stenosis treatment providers through hospitals is analyzed to rise at a CAGR of 9.9% and reach US$ 11.68 billion by the end of 2034.
“Growing investments by companies in developing more effective and bio-based prosthetic heart valves is helping them offer more efficient solutions, thereby assisting in securing a position for themselves,” says a Fact.MR analyst.
Leading Players Driving Innovation in Aortic Stenosis Treatment Market:
Braile Biomédica, Edwards Lifesciences Corporation, Thubrikar Aortic Valve, Medtronic Plc., AstraZeneca Plc., Micro Interventional Devices, Inc., Abbott Laboratories, Meril Life Sciences Pvt. Ltd., Boston Scientific Corporation, JenaValve Technology, Inc., LivaNova PLC, and CryoLife, Inc. are some of the leading providers of aortic stenosis treatment solutions.
Use of TAVR Solutions Rising Due to Their Reduced Invasiveness:
Worldwide demand for transcatheter aortic valve replacement (TAVR) solutions is evaluated to increase at a CAGR of 10.1% and reach a market value of US$ 12.96 billion by the end of 2034. This minimally invasive treatment procedure is becoming popular among more healthcare providers as an effective replacement for conventional open-heart surgery. In addition, this process also helps in shorter hospital stays, reduced invasiveness, and quicker recovery times. Moreover, TAVR is gaining more prominence among larger patient pools, particularly low-risk patients.
Aortic Stenosis Treatment Industry News:
Key players in the aortic stenosis treatment market are advancing their offerings with new approved drugs and treatment solutions.
For example, Abbott, a leading healthcare company in the U.S., received FDA approval for its Navitor TAVI (transcatheter aortic valve implantation) system in January 2023. This new-generation system is designed for treating severe aortic stenosis in patients at high or extreme risk of open-heart surgery.
Medtronic, known for its diagnostic and therapeutic products, expanded its U.S. market in September 2022 with the Evolut FX TAVR system. This new addition enhances the existing Evolut platform with improved valve deployment and user-friendly features.
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the aortic stenosis treatment market, presenting historical demand data (2019 to 2023) and forecast statistics for the period (2024 to 2034).
The study divulges essential insights into the market based on treatment type (transcatheter aortic valve replacement [TAVR], surgical aortic valve replacement [SAVR], balloon valvuloplasty, diuretics, angiotensin-converting enzyme inhibitors, beta-blockers, cardiac glycosides), and end user (hospitals, ambulatory surgical centers [ASCs], cardiac catheterization labs), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
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