The recent studies by Market Research Future (MRFR) reveals the Global Transradial Access Devices Market to attain significant growth over the forecast period. The market is projected to exhibit a CAGR of 7.5% during the forecast period 2018 to 2023.
Transradial Access Devices are devices that are used in the procedure of catheterization or endovascular to perform treatment and diagnosis of any kind due to arterial disease. The product comes with a transradial access device kit that comprises of numerous small components like catheters, guidewires, sheaths and sheath introducers, and various accessories like cannulas and needles. These kits are typically used for the treatment and diagnosis of cardiovascular diseases.
The growing preference for interventional procedures using radial artery access, rising prevalence of obesity, growing prevalence of lifestyle-based diseases, increasing number of chemotherapy procedures, and the increasing usage of radial access devices in pediatric patients are all expected to cumulatively drive the demand of the market over the forecast period. On the flip side, high costs associated with the maintenance and placement of vascular access devices and instances of product recalls and failures are some of the factors constraining the growth of the Global Transradial Access Devices Market.
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Transradial Access Devices Market – Competitive Landscape
The Global Transradial Access Devices Market comprises of various notable players, including Teleflex Incorporated (US), Smiths Group Plc (UK), Dickinson and Company (U.S.), OSCOR Inc. (US), NIPRO Medical Corporation (US), AngioDynamics (US), Merit Medical System, Inc. (US), Medtronic Plc (Ireland), Edward Lifesciences Corporation (US), Boston Scientific Corporation (US), Becton (US), Terumo Corporation (Japan), Ameco Medical Industries (Egypt), and others.
Feb 20th, 2019, according to an all new data released from the PROGRESS CTO registry, transradial access is associated with less instances of major bleeding cases and offers similar procedural results in patients who are undergoing PCI for CTOs (percutaneous coronary intervention for chronic total occlusions) than transfemoral access.
Transradial Access Devices Market – Segmentation
The Global Transradial Access Devices Market segmentation is classified into application, disease area, product, and end-user.
By product, the market includes guidewires, catheters, sheath and sheath introducers, accessories, and others. The catheters segment is narrowed down into specialty catheters, urinary catheters, cardiovascular catheters, into intravenous catheters, neurological catheters. On the other hand, guidewires are divided into wrapped guidewire and solid guidewire.
By disease area, the market is segmented into ischemic stroke, cancer, cardiovascular diseases, endometriosis, rheumatoid arthritis, and others.
By end-user, the market includes hospitals, ambulatory care centers, clinics, and others.
By application, the market comprises of blood transfusion, fluid and nutrition administration, drug administration, and diagnostics and testing.
Transradial Access Devices Market – Regional Analysis
The regional segmentation of the Global Transradial Access Devices Market comprises of four major regions, namely The Americas, Asia Pacific, Europe, and the Middle East and Africa.
The Americas hold the dominant position of the global market and is expected to continue its dominance over the forecast period due to a number of factors. This includes rising burden concerning cardiovascular diseases (CVDs), increasing incidences of cancer, and growing number of symposia, conferences, and workshops for spreading awareness concerning these devices. The number of initiatives undertaken by various organizations are also expected to drive the market in this region.
The European region holds the second position in terms of market share in the global standings. The increasing impetus on market players in Europe, widespread prevalence of cancer in European nations like Italy, France, and Germany, and rising incidences of end-stage renal disease (ESRD) are all expected to collectively influence a positive growth upon the transradial access devices market.
Asia Pacific is positioned to be the fastest growing regional market due to a growing prevalence of chronic diseases related to kidney in Japan, increasing focus placed upon China by various market players, favorable government initiatives, high burden of CVDs in India, growing incidences of cancer, high rate of prevalence of diabetes, and other factors.
The Middle East and Africa region boasts the least share of the global market due to lack of established medical facilities and technical knowledge.
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