Global Aortic Aneurysm Market: Overview
Aortic aneurysm refers to an abnormal bulge on the wall of aorta, a major blood vessel transporting blood from heart to body. Aortic aneurysms can affect any part of aorta and might be either round or tube in shape.
Factors that characterize growth of global aortic aneurysm market are increased prevalence of smoking in all parts of the world. In addition, rise in the incidences of cardiovascular diseases, technological progress in the medical field, and favorable reimbursement policies for aortic aneurysms treatment.
Type, product, treatment, end user and region are the parameters based on which the global aortic aneurysm market has been classified.
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Global Aortic Aneurysm Market: Notable Developments
One of the developments that characterize the changing course of the global aortic aneurysm market is as mentioned below:
- In April 2018, Vascutek Ltd and Bolton Medical, Inc. have merged to produce one single business unit. It is expected that following this acquisition, the merged company is likely to reinforce its position in the global market and expand its portfolio of medical products.
Some reputed organizations functioning in the global aortic aneurysm market comprise the below-mentioned:
- Terumo Medical Corporation
- Lombard Medical Limited
- Terumo Medical Corporation
- Cardinal Health, Inc.
- MAQUET Holding B.V. & Co. KG
Global Aortic Aneurysm Market: Key Trends
The following drivers, opportunities, and restraints are expected to determine future course of the global aortic aneurysm market over the forecast period, from 2019 to 2027.
Increasing Number of Claims Denials to Accentuate its Demand in the Market
The global aortic aneurysm market is likely to be driven by rapid rise in the cases of cardiovascular diseases and poor dietary habits that prevail among a large part of the population. Furthermore, increasing geriatric population with cardiovascular diseases are driving the demand for new methods of treatment and devices for abdominal and thoracic aneurysm repair. This is further likely to boost the global aortic aneurysm market over the assessment tenure, from 2019 to 2027.
Countries with middle- and low- income households mostly face substantial concerns owing to little or no awareness about the ill effects of smoking, be it direct or passive and associated risk of development of aneurysm. Furthermore, the scenario of reimbursement and regulations vary across different parts of the world.
The reimbursement policies pertaining to aortic aneurysm surgeries are generally favorable. In the U.S., medicare policies generally cover more than 70 % of the total treatment cost and this cost is borne by the government of the U.S. In countries like India and China, flexible rules and regulations related to the manufacturing of medical devices enable local manufacturers to introduce low cost products. In developed nations, such as, the U.K., Canada, Germany, and U.S., strict rules and regulations prevail to watch over new product launches in a bid to ensure good quality of the products.
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On the flip side, low reimbursement is likely to make treatment for aortic aneurysm expensive, which is likely to impede the growth of the global aortic aneurysm market over the forecast tenure, from 2019 to 2027.
Global Aortic Aneurysm Market: Geographical Analysis
In a bid to present comprehensive view of the global aortic aneurysm market, TMR analysts have segmented the market based on region. The market is divided into the major regions of Latin America, Europe, Asia Pacific, the Middle East and Africa, and North America.
North America is likely to account for a leading share of the global aortic aneurysm market over the assessment period. Such regional dominance is ascribed to the presence of topnotch healthcare infrastructure and constant technological progress made in the medical industry. Europe is estimated to be another leading region of the market, owing to favorable government policies governing the aortic aneurysm market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.