The global transseptal access systems market was esteemed at US$ 638 million in 2018 and is expected to grow at a CAGR of 9.8% from 2019 to 2029. Catheterization of the left atrium to perform ablation of arrhythmia via transseptal puncture through transseptal access systems is gaining interest these days. The aging population is at high risk of conditions such as hypertension, which is increasing the cardiac patient pool. Moreover, increasing intake of tobacco and alcohol, and changing lifestyles are common factors that can cause conditions such as atrial fibrillation. Continuous rise in the prevalence and incidence rate of atrial fibrillation in both, developed and developing economies, creates the need for efficient atrial fibrillation procedures such as mitral valve repair, LLA occlusion therapy, and atrial fibrillation ablation therapy. Additionally, the development of healthcare infrastructure in developing economies is providing numerous opportunities for market expansion during the forecast period.
Recent Trends Shaping Transseptal Access Systems Market
Rapid technological advancements in transseptal access systems and increasing awareness among people are key factors that are anticipated to boost the growth of the global transseptal access system market growth. Introduction of combination of fluoroscopic and transesophageal echocardiographic images is responsible for improvements in transseptal puncture procedures. Likewise, mechanical advancements and launch of innovative products with added benefits are set to accelerate the growth of transseptal access system market. For instance, commercial availability of AVANCE Bi-directional steerable introducer sheaths designed to have uniform bending characteristics in all directions promotes the ease of entry into left atrium during transseptal access. Transseptal access system manufacturers are adopting collaborative strategies to increase product penetration in untapped markets.
Restraining Factors Impacting Transseptal Access Systems Market
Although the demand for transseptal access systems is huge across the world due to increasing incidence of atrial fibrillation, there is a shortage of healthcare service practitioners to operate these systems. Dearth of healthcare professionals with certified qualifications is due to the ageing workforce and growing demand across the healthcare sector in emerging economies. Other factors such as poverty, supply chain issues, inefficient management of healthcare services, non-availability of technological advanced equipment, etc., also result in reduced demand for transseptal access systems, thereby hampering market growth. Gain More Insights about this Report
North America to Dominate Transseptal Access Systems Market
Attributed to the continuously evolving reimbursement scenario in North America, coupled with the rising risk of atrial fibrillation among adults and growing elderly population, the region is expected to dominate the global transseptal access systems market. North America holds nearly 35% of global revenue, which is expected to increase at a CAGR 9% over the forecast period. On the back of rising number of procedures utilizing the transseptal puncture technique and new product launches with an added advantages, Europe is the second-most lucrative transseptal access systems market, projected to progress at a CAGR of 9.6% over the period of forecast.
Transseptal Access Systems Market: Competitive Landscape
The global transseptal access systems market is characterized as a consolidated market space, with key players across the globe such as Biosense Webster, Inc. (Johnson & Johnson), Medtronic plc, Boston Scientific Corporation, Terumo Corporation, Merit Medical Systems, Inc., Transseptal Solutions, Inc. and St. Jude Medical LLC (Abbott Laboratories). Incorporating innovative strategies and launching new product lines are key strategies adopted by manufacturers in the transseptal access systems market. Continuous product launches with enhanced benefits and safety to enhance customer base is the strategic focus of key players.
Increment in the number of cardiac patients and favorable reimbursement scenario are primary factors responsible for market growth at an impressive rate, with North America and Europe holding substantial share of the global transseptal access systems market. Solid monetary position and new product launches by key market players are expected to drive the growth of the transseptal access systems market over the period is question. Organizations with innovative working capabilities and technological ability will be in a position to gain increased share in the transseptal access systems market.
Transseptal Access Systems Market - Scope of the Report
Persistence Market Research (PMR) recently published a market study on the global transseptal access systems market. The study provides detailed assessment on key market dynamics, including the drivers, trends, opportunities, restraints, and detailed information about the transseptal access systems market structure. The market study presents exclusive information about how the transseptal access systems market will grow during the forecast period of 2019-2029.
Key indicators of market growth, which include Year-on-Year (Y-o-Y) growth of the market and compounded annual growth rate (CAGR) are explained in PMR’s study in a comprehensive manner. Other information includes pricing analysis by region and by product type, which helps in deep understanding of the pricing details by researchers, suppliers, manufactures, and distributors. The other information contains volume analysis, which includes year wise growth of transseptal access systems during the forecast period. This information can help readers understand the quantitative growth prospects of the transseptal access systems market during the forecast period.
The study is relevant for manufacturers, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Business researcher, shareholders, industry experts can leverage the information and data presented in PMR’s study.
The study also includes statistics as well as facts related to macroeconomics factors that are impacting developments in the market. It also offers actionable insights based on the future trends in the transseptal access systems market. Furthermore, small businesses and new entrants in the transseptal access systems market too can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.
Key Segments of Transseptal Access Systems Market
PMR’s study on the transseptal access systems market offers information divided into four important segments— product type, application, end user, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.
Key Questions Answered in PMR’s Transseptal Access Systems Market Report
Transseptal Access Systems Market: Research Methodology
In PMR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the transseptal access systems market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analyst ensure accuracy and reliability of the conclusions.
Secondary resources referred to analyst during the production of the transseptal access systems market study include statistics from government healthcare organizations, medicines journals, research journals, press release, annual reports, white papers, directories, and databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary resources and secondary resources acts as a validation from companies in the disposable plastic bags market, and makes PMR’s projection on the growth prospects of the transseptal access systems market more accurate and reliable.