SEATTLE, July 26, 2021, (MEDGADGET) — Global Radial Compression Devices market analysis
Overview
After invasive coronary processes, the radial compression devices are tied-up on the wrist for obtaining lower levels of radial artery occlusion. Using this device is compulsory post-angioplasty and post-angiography processes in order to curb bleeding.
By 2027, the global radial compression devices market is projected to have a valuation of US$ 357.7 million.
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Drivers
Rising incidences of cardiovascular diseases are expected to fuel growth of the global radial compression devices market during the forecast period. As per the 2018 report from the American Heart Association’s Heart Disease and Stroke Statistics, in the U.S., around 92.1 million adults were diagnosed with some type of cardiovascular diseases or the consequences of a stroke.
Furthermore, benefits of radial access in the PCI (percutaneous coronary intervention) procedures are expected to augment growth of the global radial compression devices market during the forecast period. Radial access offers quick mobility to patients with a smaller incision, and the possibility of infection is less in radial access when compared to femoral access.
In 2019, the North American region held a dominating position in the global radial compression devices market, contributing about 40.0% of overall market share, and was followed by Europe.
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Europe.
Restraints
Comparatively, the radial artery is shorter than the femoral artery, which limits the radial approach for PCI processes. If the diameter of the catheter exceeds over 2 mm then, it becomes complicated for healthcare workers to utilize it. Moreover, if the catheter diameter exceeds over 2.5 mm then the radial access is not possible. Certain procedures of PCI will need a larger simultaneous deployment or guide wire catheters of over two catheters, which cannot be done in a radial approach. These drawbacks are poised to limit growth of the global radial compression devices market.
Furthermore, traditional techniques of femoral access are still adopted in emerging economies, which is expected to hinder growth of the global radial compression devices market.
Opportunities
Reducing costs of stents are expected to provide robust growth opportunities for companies in the global radial compression devices market. Higher costs associated with coronary stents have resulted in lower adoption in developing countries. Recently, the costs of stent have reduced in several nations of Asia Pacific, which is expected to propel affordability of PCI procedures in this region.
Furthermore, several initiatives by the governments to minimize the costs of stent are expected to augment growth of the global radial compression devices market. In India, the cost of coronary stents has reduced considerably due to the surpassing of coronary stent prices by the Indian Government in February 2017.
In 2019, the surgical intervention segment in the global radial compression devices market had a valuation of US$ 91.0 million and is forecasted to achieve a valuation of US$ 173.8 million by 2027 with a CAGR of 8.4% over the forecast period.
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Key Takeaways
During the application of radial compression devices, radial artery occlusion is the most common complication. According to market players, the use of branded radial compression devices can result in lowered rates of radial occlusion post-procedures.
The rate of adoption in countries such as the U.K. is high across all healthcare organizations.
Competitive Landscape
Key companies contributing in the global radial compression devices market are Abbott Laboratories, Advanced Vascular Dynamics, Terumo Corporation, Beijing Demax Medical Technology Co., Ltd., Merit Medical Systems Inc., Comed B.V., and Vascular Solutions Inc.
Key Developments
The focus of key companies in the market on the launch of newer products to extend their portfolio of products. In August 2019, Merit Medical Systems Inc. had launched a radial compression device called PreludeSync Evo in the U.S.
The focus of key companies in the market on adopting various strategies to broaden their portfolio of products. In November 2019, Terumo Corporation revealed its plan to acquire a U.S.-based company, Aortica Corporation.
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Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Product Type
- Market Snippets, By Usage
- Market Snippets, By Application
- Market Snippets, By End User
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Key Highlights
- Product launch
- PEST Analysis
- Regulatory Scenario
- Mergers and Acquisitions
- Market Dynamics
- Global Radial Compression Devices Market, By Product Type, 2019 – 2027, (US$ Mn)
- Introduction
- Market Share Analysis, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- Band/ Strap Based
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Band/ Strap Based
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Plate Based
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Introduction
- Global Radial Compression Devices Market, By Usage, 2019 – 2027, (US$ Mn)
- Introduction
- Market Share Analysis, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- Disposable Device
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Reusable Device
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Introduction
- Global Radial Compression Devices Market, By Application, 2019 – 2027, (US$ Mn)
- Introduction
- Market Share Analysis, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- Surgical Intervention
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Diagnostics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Introduction
- Global Radial Compression Devices Market, By End User, 2019 – 2027, (US$ Mn)
- Introduction
- Market Share Analysis, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- Hospitals
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Independent Catheterization Centers
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Ambulatory Surgical Centers
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Specialized Clinics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Introduction
- Global Radial Compression Devices Market, By Region, 2019 – 2027, (US$ Mn)
- Introduction
- Market Share Analysis, By Region, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, For Regions, 2017–2026
- North America
- Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Usage, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
- U.S.
- Canada
- Latin America
- Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Usage, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Usage, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Usage, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of APAC
- Middle East
- Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Usage, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
- GCC
- Israel
- Rest of Middle East
- Africa
- Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Usage, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
- South Africa
- Central Africa
- North Africa
- Introduction
- Competitive Landscape
- Company Profiles
- Section
- References
- Research Methodology
- About us and Sales Contact
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