Global Transseptal Needle Market – Industry Trends and Forecast to 2030

Global Transseptal Needle Market, By Size (71 cm, 99 cm, 98 cm, Others), End User (Hospitals, Clinics, Ambulatory Surgical Centers, Others) – Industry Trends and Forecast to 2030.

 Transseptal Needle Market Analysis and Size

The rise in healthcare spending is one of the key factors expected to fuel the growth and demand for transseptal needles. Furthermore, the growing geriatric population around the world and a rapid increase in awareness about the benefits of these needles are expected to drive growth in the global market from 2023 to 2030. The rise in the incidence of cardiovascular diseases and cardiac surgeries, as well as the high level of security and safety for patients, are also expected to boost market growth.

Data Bridge Market Research analyses that the transseptal needle market which is USD 513.43 million in 2022, is expected to reach USD 965.92 million by 2030, at a CAGR of 8.22% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Transseptal Needle Market Scope and Segmentation  

Market Definition

Needles are used to administering medications or to draw blood from the body. It is made up of three parts: a long shaft, a slanted tip called a bevel, and a hub that fits into the tip of the syringe. In clinical practice, various types of needles are routinely used for a variety of applications such as administering medicine through various layers of skin, anaesthetic procedures, and various surgical procedures. Depending on the clinician's needs, different types and materials of needles are available.

Transseptal Needle Market Dynamics

Drivers

• High prevalence of chronic diseases

Several factors have been linked to increased needle adoption worldwide. One of the major factors driving demand for needles is the high prevalence of chronic disease around the world. According to the World Health Organization (WHO), non-communicable diseases such as cancer, diabetes, cardiovascular disease, and lung disease accounted for approximately 70% of deaths worldwide in 2017, with the majority of deaths occurring in middle and low-income economies. Furthermore, by 2020, chronic diseases are expected to account for roughly 75% of all deaths worldwide. As a result, as needles are an essential part of chronic disease treatment, this is expected to aid market growth.

• Growing geriatric population

The growing geriatric population is expected to drive the needle market forward. According to the United Nations' World Population Prospect, 2017 Revision report, there were 962 million people in the geriatric category in 2017. (people aged 60 years and above). This is expected to increase at a 3% annual rate to 1.4 billion by 2030. Geriatric patients require frequent hospitalizations as a result of aging-related diseases such as heart disease, stroke, diabetes, and falls. In some cases, surgery is required, which necessitates hospitalization. This is expected to help the market grow.

Opportunities

• Strategic mergers and acquisitions

Strategic mergers and acquisitions, as well as the development of innovative products, are used to increase market share. For instance, in 2017, Becton, Dickinson and Company introduced the BD Ultra-Fine micro pen needle for use with various pen injection devices, for people with diabetes, to reduce accidental injection of insulin dose into a muscle and to provide one of the shortest length pen needles. In 2016, Nipro Medical Corporation introduced the 'SafeTouch' safety needle, which is known to protect patients from needle stick injuries. Terumo Medical Corporation's innovative K-Pack Surshield, which was introduced in 2012, claims to be 20% sharper than its competitor and to fit in all types of syringes.

Restraints/Challenges

• Lack of technologically advanced equipment

The lack of technologically advanced equipment and a preference for other delivery methods are expected to limit the growth of the transseptal needle market, while supply chain issues may pose a challenge to the market's growth.

This transseptal needle market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the transseptal needle market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Transseptal Needle Market Scope

The transseptal needle market is segmented on the basis of size and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Size

• 71 cm
• 99 cm
• 98 cm
• Others

 End User

• Hospitals
• Clinics
• Ambulatory Surgical Centers
• Others

Transseptal Needle Market Regional Analysis/Insights

The transseptal needle market is analyzed and market size insights and trends are provided by country, size and end user as referenced above.

The countries covered in the transseptal needle market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the transseptal needle market owing to the high risk of atrial fibrillation among adults and rise in the elderly population.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 because of the increase in the number of procedures utilizing the transseptal syringes and new product launches.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Healthcare Infrastructure Growth Installed base and New Technology Penetration

The transseptal needle market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for transseptal needle market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the transseptal needle market. The data is available for historic period 2011-2021.

Competitive Landscape and Transseptal Needle Market Share Analysis

The transseptal needle market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to transseptal needle market.

Some of the major players operating in the transseptal needle market are:

• INJEX CLINICS (Australia)
• InsuJet (Netherlands)
• PenJet (U.S.)
• Amico Group (U.A.E)
• BD (U.S.)
• AstraZeneca (U.S.)
• PharmaJet (U.S.)
• Portal Instruments (U.S.)
• Medical International Technology, Inc (MIT) (U.S.)
• NuGen Medical Devices (Canada)
• Crossject SA (U.S.)
• Bioject Medical Technologies (U.S.)
• Abbott (U.S.)
• Boston Scientific Corporation (U.S.)