Transcatheter Aortic Valve Replacement System Market
: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation
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: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation
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Our-in depth analysis of the global transcatheter aortic valve replacement system market includes the following segments:
Global transcatheter aortic valve replacement system market is further classified on the basis of region as follows:
Global transcatheter aortic valve replacement system market is projected to grow at a compound annual growth rate (CAGR) of 16.4% over the forecast period i.e.2017-2024. Further, increasing geriatric population all across the globe coupled with rising prevalence of aortic stenosis in aged people are key factors which are likely to fuel the growth of global transcatheter aortic valve replacement system market during the forecast period.
In terms of region, global transcatheter aortic valve replacement system market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America & Europe regions are the major market of transcatheter aortic valve replacement system. Moreover, Europe region is one of the major markets of transcatheter aortic valve replacement system and is anticipated to grow at a remarkable compound annual growth rate (CAGR) of 17.5 % during forecast period. Rising prevalence of aortic stenosis and presence of good healthcare infrastructure are some major factors which are likely to foster the growth of Europe transcatheter aortic valve replacement system market over the forecast period.
Further, North America transcatheter aortic valve replacement system market is expected to expand at a robust pace during the forecast period owing to the factors such as rapid introduction of advanced technologies and innovative products in healthcare market in this region. Moreover, Middle East & Africa region is also predicted to grow at a satisfactory rate due to sudden rise in prevalence of cardiovascular diseases and growing geriatric population in Middle East & Africa region.CLICK TO DOWNLOAD FREE SAMPLE
Additionally, increasing awareness amongst the people regarding minimal invasive surgeries and growing enhancement of healthcare infrastructure in Asian countries are some of the major factors which are likely to bolster the growth of Asia Pacific transcatheter aortic valve replacement system market during the forecast period.
The global market of transcatheter aortic valve replacement system is primarily driven by growing geriatric population coupled with growing prevalence of aortic stenosis diseases in old population all across the globe. Further, rising prevalence of cardiovascular diseases in geriatric population is fostering the growth of transcatheter aortic valve replacement system market.
Additionally, rapid introduction of advanced technology in surgical procedures coupled with rising adoption of innovative technologies in healthcare sector is also a major factor which is driving the growth of global market of transcatheter aortic valve replacement system. Moreover, growing enhancement of healthcare infrastructure in order to provide every possible treatment to the consumers is also driving the growth of global transcatheter aortic valve replacement system market.
Furthermore, rising awareness amongst the patients regarding minimally invasive surgical procedures is also fostering the growth of global transcatheter aortic valve replacement system market. These minimally invasive surgical procedures offer advantages including less traumatic surgical experience, reduced hospital stay and faster recovery.
However, high cost of these procedures is a major challenge to the growth of transcatheter aortic valve replacement system market. Furthermore, lack of availability of these procedures in low emerging economies is also expected to hamper the growth of transcatheter aortic valve replacement system market in near future.
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.
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