Transradial Access Devices Market Size is projected to reach USD 4.9 Billion by 2031, growing at a CAGR of 8.3%: Straits Research

The global transradial access devices market size was valued at USD 2.4 billion in 2022. It is projected to reach USD 4.9 billion by 2031, growing with a CAGR of 8.3% during the forecast period (2023–2031). The global transradial access devices market is estimated to be dominated by North America owing to advancements in healthcare treatment and the high number of patient pools with cardiac disorders.

| Source: Straits Research Straits Research

New York, United States, Feb. 01, 2023 (GLOBE NEWSWIRE) -- Transradial access is preferred for coronary angiography and percutaneous coronary intervention due to a lower risk of bleeding and vascular complications, higher patient satisfaction, and decreased mortality. The number of individuals suffering from various artery disorders, such as atherosclerosis, has increased in recent years. Several devices used to treat these ailments have been introduced to the market. These diseases are more prevalent in obese people. Adoption of a sedentary lifestyle, intake of processed foods, and physical inactivity also contribute to the growing patient population. Additionally, alcohol and tobacco intake contribute to heart-related issues. In addition, transradial access has numerous advantages over other procedures, such as a lower cost and a lower complication rate; hence, it is considered a safe approach. Moreover, the government and private companies are investing heavily in research & development for technological advances in the treatment, which is driving the market growth.


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Technological Advancements Drive the Market Growth

Increasing technological advancements in vascular access devices will stimulate industry growth. Several technological breakthroughs have increased the success rate and outcome of the process. In addition, cobalt chromium multi-link technology, triaxial technology, and interwoven wire technology will expand the usage of catheters and guidewires during transradial coronary artery treatments. Likewise, features such as adaptability, durability, delivery, and visibility will give attractive market opportunities in the next years. During the forecast period, rapid innovation and increased R&D spending will drive market value.


Report Scope

Report MetricDetails
Market SizeUSD 4.9 Billion by 2031
CAGR8.3% (2023-2031)
Historical Data2020-2021
Base Year2022
Forecast Period2023-2031
Forecast UnitsValue (USD Billion)
Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments CoveredProduct, Application, End User, Region
Geographies CoveredNorth America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/VendorsAmeco Medical, Becton Dickinson, Angiodynamics, Inc., Boston Scientific Corporation, Edward Lifesciences Corporation, Teleflex Incorporated, Merit Medical Systems, Medtronic, Nipro Medical Corporation, Oscor Inc., Smiths Medical, and Terumo Corporation.,
Key Market DriversTechnological Advancements

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Regional Analysis

The global transradial access devices market is estimated to be dominated by North America owing to advancements in healthcare treatment and the high number of patient pools with cardiac disorders. A large number of individuals in the region suffer from obesity and diabetes. Because of the obesity epidemic in the United States, a growing proportion of patients have panniculus, which impedes TFA access. Obesity requires inventive patient placement to expose the femoral crease, mandates interventionalist access to atypically deep femoral arteries, and raises the risk of post-procedure bleeding and access site infection. Given that the wrist has less fat than the femoral artery accessing the radial artery in obese individuals overcomes several difficulties. Increasing healthcare expenditures and rising alcohol and cigarette consumption in the region also contribute to the expansion of the industry.

The European region holds the second leading position in the market. The primary market drivers in the region are the expanding obese population and the growing preference for radial access devices among pediatric patients. The increase in the prevalence of cardiovascular illnesses would have a substantial impact on the transradial access market's growth rate. The increase in the older population is an additional factor contributing to the growth of the sector. In addition, increasing per capita healthcare expenditures and the rising trend of medical tourism are driving market expansion.

Asia Pacific region is expected to exhibit the fastest growth rate during the forecast period. The region's market is supported by the rising prevalence of heart conditions and obesity. India and China are among the nations with the highest proportions of obese citizens. In addition, the number of patients with heart disease is growing in the region. The rate of growth of the transradial access market will be affected by rising healthcare costs, shifting lifestyles, and increased disposable incomes in developing countries. Japan's transradial access device market comprised about 25 percent of the Asia-Pacific market. This is mostly attributable to the country's growing elderly population.

LAMEA region is expected to show slow growth in the market during the forecast period, owing to their underdeveloped economies and lack of medical facilities. African and Middle Eastern nations are adversely affected by cardiovascular disease. Coronary heart disease is prevalent due to the high prevalence of risk factors, such as smoking, hypertension, dyslipidemia, diabetes, and sedentary lifestyles. The prevalence of dyslipidemia in the Arab area increases the patient pool. In addition, a substantial portion of Africa lacks the medical facilities that would encourage market participants to invest in the region. Social infrastructure initiatives are emerging in Latin America. The government has increased expenditures on public welfare programs and new medicinal research, which will spur the expansion of the studied market in the region.


Key Highlights

  • The global transradial access devices market size is projected to reach USD 4.9 billion by 2031, growing with a CAGR of 8.3% during the forecast period (2023–2031).
  • On the basis of product, the transradial access devices market is segmented into catheters, guide wires, sheath & sheath introducers, and accessories. The catheter segment will likely grow at the highest CAGR.
  • By application, the market is segmented into drug administration, fluid & nutrition administration, diagnostics & testing, and blood transfusion. Diagnostics & testing segment is expected to hold the majority share over the forecast period.
  • On the basis of end-user, the transradial access devices market is segmented into hospitals, surgical centers, and others (laboratories, nursing homes, diagnostic & imaging centers, and home healthcare agencies). The hospital segment will likely grow at the fastest CAGR during the forecasted period.
  • The global transradial access devices market is dominated by North America.

Major players in the transradial access devices market are

  • Ameco Medical
  • Becton Dickinson
  • Angiodynamics Inc.
  • Boston Scientific Corporation
  • Edward Lifesciences Corporation
  • Teleflex Incorporated
  • Merit Medical Systems
  • Medtronic
  • Nipro Medical Corporation
  • Oscor Inc.
  • Smiths Medical
  • Terumo Corporation


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Global Transradial Access Devices Market: Segmentation

By Product

  • Catheters
  • Guide wires
  • Sheath & Sheath Introducers
  • Accessories
  • Others

By Application

  • Drug Administration
  • Fluid & Nutrition Administration
  • Blood Transfusion
  • Diagnostics & Testing
  • Others

By End User

  • Hospitals
  • Clinics
  • Ambulatory Care Centers
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • LAMEA


TABLE OF CONTENT

  1. Introduction
    1. Market Definition
    2. Market Scope
  2. Research Methodology
    1. Primary Research
    2. Research Methodology
    3. Assumptions & Exclusions
    4. Secondary Data Sources
  3. Market Overview
    1. Report Segmentation & Scope
    2. Value Chain Analysis: Transradial Access Devices Market
    3. Key Market Trends
      1. Drivers
      2. Restraints
      3. Opportunities
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
    5. Market Share Analysis
  4. Product Overview
    1. Introduction
      1. Market Size & Forecast
    2. Catheters
      1. Market Size & Forecast
    3. Guide Wires
      1. Market Size & Forecast
  5. Application Overview
    1. Introduction
      1. Market Size & Forecast
    2. Drug Administration
      1. Market Size & Forecast
    3. Diagnostics & Testing
      1. Market Size & Forecast
  6. Regional Overview
    1. Introduction
      1. Market Size & Forecast
    2. America
      1. North America
      2. U.S.
        1. By Product
        2. By Application
      3. Canada
        1. By Product
        2. By Application
      4. Mexico
        1. By Product
        2. By Application
      5. Latin America
        1. By Product
        2. By Application
    3. Europe
      1. Market Size & Forecast
      2. Germany
        1. By Product
        2. By Application
      3. France
        1. By Product
        2. By Application
      4. U.K.
        1. By Product
        2. By Application
      5. Italy
        1. By Product
        2. By Application
      6. Spain
        1. By Product
        2. By Application
      7. Rest of Europe
        1. By Product
        2. By Application
    4. Asia Pacific
      1. Market Size & Forecast
      2. Japan
        1. By Product
        2. By Application
      3. China
        1. By Product
        2. By Application
      4. Australia
        1. By Product
        2. By Application
      5. India
        1. By Product
        2. By Application
      6. South Korea
        1. By Product
        2. By Application
      7. Rest of Asia-Pacific
        1. By Product
        2. By Application
    5. Middle East & Africa
      1. Market Size & Forecast
      2. Saudi Arabia
        1. By Product
        2. By Application
      3. South Africa
        1. By Product
        2. By Application
      4. Kuwait
        1. By Product
        2. By Application
      5. Rest of Middle East & Africa
        1. By Product
        2. By Application
  7. Company Profile
    1. Ameco Medical
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    2. Becton Dickinson
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    3. Angiodynamics, Inc
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
  8. Conclusion & Recommendation
  9. Acronyms & Abbreviations


Table of Content and Figure @ https://straitsresearch.com/report/transradial-access-devices-market/toc


Market News

  • In September 2021- Medtronic plc, the global leader in medical technology, announced its radial artery access portfolio, including the Rist 079 Radial Access Guide Catheter and Rist Radial Access Selective Catheter, which has obtained CE Mark clearance.
  • In July 2022- Cordis, a global leader in cardiovascular technologies, announced the launch of the RADIANCY clinical research in Europe. It is a prospective, multi-center, single-arm study designed to evaluate the safety and efficacy of the SMART RADIANZ Vascular Stent System for treatment of lesions in the iliac, superficial femoral, or proximal popliteal arteries via radial artery access through 30 days of follow-up.


News Media

Angiography Catheters Market: Diagnostic of Heart

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Mot-clé

Transradial Access Devices coronary angiography percutaneous coronary coronary artery treatments arterial diseases healthcare

Hyperliens