The healthcare sector adopted Transradial Access Devices for the diagnosis and treatment of cardiovascular diseases, tumors, and cancer. The rising burdens of these diseases are likely to favor the expansion of the transradial access devices market. According to the World Health Organization (WHO)’s research report, around 17 million people died in 2017 due to cardiovascular diseases. According to another report, 1,735,350 new cased of cancer is projected to be registered in the U.S. in 2018.
Factors responsible for aiding the expansion of the transradial access devices market are rising prevalence of obesity, growing use of radial access devices in pediatric patients, rising number of chemotherapy procedures, widespread prevalence of lifestyle diseases, etc. However, high costs associated with the maintenance and deployment of transradial access devices are poised to restrict the growth of the global market in the foreseeable future.
Market Research Future (MRFR)’s latest study reveals that the Global Transradial Access Devices Market is set to proliferate saliently at a robust CAGR of 7.5% during the forecast period 2018 to 2023.
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Transradial Access Devices Market – Players Covered
Some of the key players in the Global Transradial Access Devices Market are
- Becton, Dickinson and Company (U.S.)
- Terumo Corporation (Japan)
- Teleflex Incorporated (US)
- Smith’s 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)
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.
Transradial Access Devices Market – Regional Analysis
The Global Transradial Access Devices Market consists of regions, namely, the Americas, Europe, Asia Pacific, and the Middle East and Africa.
The Americas dominated the Global Transradial Access Devices Market owing to the use of transradial access devices for detection of cardiovascular diseases along with the demand for early diagnosis. For instance, a study conducted by the Centers for Disease Control and Prevention (CDC) reported that in 2017, 2.7 to 6.1 million people in the United States have (atrial fibrillation) AFib, leading to more than 750,000 hospitalizations each year in the U.S.
The European region is the second largest market for global transradial access devices due to surging cases of obesity along with the increasing number of chemotherapy procedures and growing use of radial access devices in pediatric patients. The wide scope of application for transradial access devices is a factor that is expected to be responsible for the rapid growth of the market.
The German market is expected to dominate the Global Transradial Access Devices Market owing to the increase in the prevalence of target diseases coupled with the increasing number of research studies on vascular access devices in Germany.
The implementation of various healthcare reforms such as the Patient Protection and Affordable Care Act (PPACA) and high burden of Cardiovascular Diseases (CVDS) in India coupled with the increasing investments in the Asia Pacific region are the factors favoring the growth of transradial access devices in the Asia Pacific region
The Middle East and Africa is projected to show steady growth in this market due to the strengthening of the healthcare infrastructure in the Middle East and rising prevalence of cancer in Africa along with the subsequent rise in the number of chronic diseases such as cardiovascular diseases, cancer, rheumatoid arthritis, and inflammatory bowel disease.
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