Global Transradial Access Devices Market – Overview
The Global Transradial Access Devices Market is expected to gain prominence over the forecast period (2018–2023). It is estimated that the transracial access devices market is expected to register a CAGR of 7.5% during the forecast period of 2018–2023.
The increasing preference for interventional procedures using radial artery access, growing prevalence of lifestyle diseases, rising prevalence of obesity, increasing number of chemotherapy procedures, and growing use of radial access devices in pediatric patients are expected to drive the growth over the forecast period. High costs involved in the placement and maintenance of vascular access devices and product recalls and failures are some of the factors restraining the growth of the market.
Transradial access devices are used in the catheterization procedure or endovascular procedure to perform the diagnosis and treatment of any form of the arterial disease. A transradial access device kit comprises numerous small components such as guidewires, catheters, sheaths and sheath introducers, and accessories such as needles and cannulas. Mostly these kits are used for diagnosing and treating cardiovascular diseases.
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According to a study conducted by the World Health Organization (WHO) in 2017, about 17 million people died annually due to cardiovascular diseases worldwide. Another data published by the European Cardiovascular Disease Statistics in 2014 states that Cardiovascular Disease (CVD) causes 47% of all the mortalities in Europe. Furthermore, similar conditions exist in other parts of the world, where early diagnosis can reduce the mortality rates due to cardiac disorders.
Transradial Access Devices Market Segmentation:
The Global Transradial Access Devices Market is segmented by product, application, disease area, and end-user. Based on product, the global transradial access devices market is classified as catheters, guidewires, sheaths, and sheath introducers, accessories, and others. Catheters are further divided into cardiovascular catheters, specialty catheters, intravenous catheters, urinary catheters, and neurological catheters. Guidewires are further classified as solid guidewire and wrapped guidewire.
Based on application, the global transradial access devices market is classified as drug administration, fluid and nutrition administration, blood transfusion, and diagnostics and testing. Based on disease area, the global transradial access devices market is classified as cardiovascular diseases, cancer, rheumatoid arthritis, ischemic stroke, endometriosis, and others. Based on end-user, the global transradial access devices market is classified as hospitals, clinics, ambulatory care centers, and others.
Global Transradial Access Devices Market – Competitive Analysis
Becton, Dickinson and Company (U.S.), Terumo Corporation (Japan), Teleflex Incorporated (US), Smiths Group Plc (UK), Edward Lifesciences Corporation (US), Medtronic Plc (Ireland), Merit Medical System, Inc. (US), Boston Scientific Corporation (US), NIPRO Medical Corporation (US), AngioDynamics (US), Ameco Medical Industries (Egypt), OSCOR Inc. (US), and others.
Global Transradial Access Devices Market – Regional Analysis
The Americas dominates the transradial access devices market over the forecast period owing to factors such as increased incidences of cancer, rising burden of Cardiovascular Diseases (CVDS), and increasing number of conferences, symposia, and workshops for spreading awareness regarding these devices. The initiatives taken by numerous organizations such as the American Cancer Society and Breast Cancer Organization are also expected to drive the market. For example, recently, the American Cancer Society approved the funding worth USD 39.0 million for cancer research. Such initiatives are probably to introduce technological advancements in cancer research and diagnosis.
Europe holds the second position in the transradial access devices market owing to the increasing focus of market players in Europe, growing prevalence of End-Stage Renal Disease (ESRD), and growing prevalence of cancer in Germany, France, and Italy. Strokes have also become a growing concern. According to the Stroke Association in 2017, U.K., nearly 1.1 million stroke survivors live in the U.K. All the factors mentioned above are likely to drive the European transradial access devices market.
Asia Pacific is the fastest growing transradial access devices market owing to an increasing prevalence of chronic kidney diseases in Japan, favorable government initiatives, increasing focus of market players on China, increasing incidences of cancer, high burden of CVDS in India, high diabetes prevalence, and rising incidences of CVDS in the region.
The Middle East and Africa holds the lowest share of the Global Transradial Access Devices Market due to lack of technical knowledge and poor medical facilities.
Major Table of Content Transradial Access Devices Market Research Report – Forecast to 2023:
- Report Prologue
- Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
- Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
- Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
- Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
5.1.2 Bargaining Power Of Buyers
5.1.3 Threat Of New Entrants
5.1.4 Threat Of Substitutes
5.1.5 Intensity Of Rivalry
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