In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
· May 18, 2021: Edwards Lifesciences Corporation announced the positive results of SAPIEN 3TAVR for patients with bicuspid aortic stenosis.
· December 15, 2021: Neovasc Inc. announced the completion of its first three Neovasc Reducer implants in France.
The global aortic stenosis treatment market is estimated to garner a CAGR ~12% over the forecast period, i.e., 2022–2030. The growth of the market can be attributed to high prevalence of aortic stenosis, globally. It is the third most common cardiac diseases, after hypertension, and coronary heart disease. It occurs, when the aortic valve marrows, which creates pressure in the ventricle. Globally, aortic stenosis is present in 2.5-3% of the population above 75 years of age. Furthermore, the increasing investment in developing new treatment methods for valvular heart diseases is also expected to boost the market growth.
The global aortic stenosis treatment market is segmented by treatment into aortic valve repair, balloon valvuloplasty, and others, out of which, the balloon valvuloplasty segment is anticipated to hold a notable share in the market during the forecast period owing to its application in treating infants and children, or adults who are too weak for valve replacement. On the basis of end-use, the market is segmented into hospitals, diagnostic center, and others, out of which, the hospitals segment is anticipated to garner the largest revenue, during the forecast period, as surgery is the only permanent treatment for aortic stenosis. Moreover, increasing patient pool of aortic stenosis, especially among the geriatric population, is estimated to boost the growth of the segment. CLICK TO DOWNLOAD SAMPLE REPORT
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Regionally, the global aortic stenosis treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to garner the highest CAGR over the forecast period on the back of high cases of valve diseases in the region, backed by unhealthy lifestyle, lack of sanitation, and other factors. Moreover, improving healthcare facilities and boosting economy, are estimated to generate a major scope for growth of the market, in the region.
The market in the North America region is estimated to garner the largest share over the forecast period, owing to the efficient healthcare system, presence of major pharmaceutical companies in the region, and high investment in medical R&D activities. Moreover, increasing prevalence of aortic stenosis in developed countries, such as, the U.S. is estimated to boost the market growth. More than 5% of the population aged 85 years and above suffer from this disease in the U.S.
The global aortic stenosis treatment market is further classified on the basis of region as follows:
Our in-depth analysis of the global aortic stenosis treatment market includes the following segments:
Ans: Rising prevalence of aortic stenosis, among other valvular heart diseases, is estimated to drive the market growth.
Ans: The market is anticipated to attain a CAGR of ~12% over the forecast period, i.e., 2022-2030.
Ans: High cost of the treatment is estimated to hamper the market growth.
Ans: The market in North America is estimated to provide major business opportunities during the forecast period owing to the advanced medical research, high per capita healthcare expenditure, and presence of major pharmaceutical companies.
Ans: The major players in the market are Edwards Lifesciences Corporation, Neovasc Inc., HighLife SAS, Abbott Laboratories, Boston Scientific Corporation, Medtronic PLC, CryoLife Inc., Siemens Healthcare GmbH, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, regional presence of the company which determine the revenue generating capacity and the new products being launched into the market by the company.
Ans: The market is segmented by diagnosis, treatment, end-user, and by region.
Ans: The hospital segment is anticipated to hold largest market size over the forecast period owing to the increasing patient pool, especially older patients suffering from valvular heart diseases.