In a recent published report, Kenneth Research has updated the market report for Transcatheter Aortic Valve Replacement Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Transcatheter Aortic Valve Replacement Market products.
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Kenneth Research has recently added a report titled Transcatheter Aortic Valve Replacement Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021 2030. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth.
According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
The global Transcatheter Aortic Valve Replacement (TAVR) Market is anticipated to reach USD 8,241.4 Million by 2025 according to a new study published by Polaris Market Research.
Transcatheter aortic valve replacement (TAVR), known as transcatheter aortic valve implantation (TAVI) the surgical procedure for heart disease wherein transcatheter heart valve is used to replace the damaged as well as old heart valve. Transcatheter heart valve implantation is a minimally invasive process that helps in substituting the damaged heart valve with a prosthetic valve for treatment of mitral regurgitation and unembellished aortic stenosis. Transcatheter aortic valve replacement procedure that helps to diminish severe degenerative aortic stenosis and increases the survival rate of patients.
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The global Transcatheter Aortic Valve Replacement (TAVR) Market is driven by factors such as growing number of the patient pool with cardiovascular ailments such as coronary artery diseases, heart failures, and hypertension. According to World Health Organization (WHO), the number of people suffering cardiovascular disorders will surge to 22.2 million by 2030 globally. Moreover, rising implementation of minimally intrusive processes over traditional surgical open-heart procedures, reduction in hospital stays, low risk of infection, minimal blood loss is further propelling the market. Moreover, increase in occurrence of aortic stenosis disorders coupled with rise in elderly population, evolution in implementation rate of transcatheter aortic valve implantation procedure owing to high demand for minimally invasive procedures, an increase in medical and clinical indication of safety & efficacy and new products approvals are other factors propelling the global Transcatheter Aortic Valve Replacement (TAVR) Market growth.
The global transcatheter valve replacement (TAVR) market is segmented on the basis of surgical procedure, end user, and geography. On the basis of surgical procedure, the global transcatheter valve replacement (TAVR) market is categorized into Transfemoral (TF) Implantation, Transapical (TA) Implantation, and Transaortic Implantation. The global market by the surgical procedure is dominated by Transfemoral (TF) Implantation majorly due to growing focus on tentative products by key players which are estimated to boost the market growth of transcatheter valve replacement (TAVR) market globally. Moreover, Transfemoral implantation is the standardized as well as consistent TAVR procedure, in which an artificial valve is inserted through the femoral blood vessel with the minimally invasive procedure and negligible anesthesia. Thus, the transferomal (TF) implantation segment accounted for the highest market share in 2017 and is anticipated to preserve the governance during the forecast period.
Based on the end users, the global transcatheter aortic valve replacement (TAVR) market is further categorized into hospitals, ambulatory surgical centers, and cardiac catheterization laboratory. The Hospital segment is expected to show the highest market growth over the forecast period. Growing patient pool and rising demand for efficient and effective surgical process with shorter recovery time and reduced hospital stay are the key factors driving the market shares for hospitals in global transcatheter aortic valve replacement (TAVR) market.
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Some of the major key players operating in global Transcatheter Aortic Valve Replacement (TAVR) Market are Boston Scientific Corporation, Direct Flow medical, Inc., Edwards Lifesciences Corporation, HLT, Inc., JenaValve Technology, Inc., Medtronic plc, Meril Life Sciences Pvt. Ltd., St. Jude Medical, Inc., SYMETIS SA, and Transcatheter Technologies GmbH among others.
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