New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- The Global Transradial Access Devices Market was valued at US$ 2.0 billion in 2022 and is expected to reach US$ 3.4 billion by 2030, exhibiting a CAGR of 7.4% during the forecast period (2023-2030).
The transradial access devices market is a rapidly growing and vital segment within the medical device industry, dedicated to providing minimally invasive and efficient access to the bloodstream through the radial artery in the wrist.
Transradial access devices offer an alternative to traditional femoral artery access for various medical procedures, including coronary angiography, percutaneous coronary interventions (PCI), and diagnostic imaging.
Key players operating in the global transradial access devices market include AmecoMedical, BD, Angiodynamics, Inc., BostonScientific Corporation, Edward Lifesciences Corporation, Teleflex Incorporated, Merit Medical Systems, Medtronic, Nipro Medical Corporation, and Oscor Inc.
Key Developments in the Global Transradial Access Devices Market
In April 2023, Terumo Corporation launched the SafeSite Radial Access System. The SafeSite Radial Access System is a new transradial access system that is designed to reduce the risk of complications, such as vascular perforation and hematoma.
In February 2023, Terumo Corporation acquired Vascular Solutions. The acquisition was valued at $1.1 billion.
On November 21, 2022, Merit Medical Systems, Inc., a leading global manufacturer and marketer of healthcare technology, announced the U.S. commercial release of the PreludeSYNC EZ Radial Compression Device.
| Report Metrics | Details |
| CAGR | 7.4% |
| Forecast Period | 2023-2030 |
| Data Availability | Value (USD) |
| Segments Covered | By Type, By Application, By End User, and By Region |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other Key insights. |
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Transradial Access Devices Market: Overview
Transradial access devices (TRADs) are medical devices used to access the bloodstream through the radial artery in the wrist.
They are a minimally invasive alternative to traditional access methods, such as femoral artery access, for various medical procedures, including coronary angiography, percutaneous coronary interventions (PCI), and diagnostic imaging. TRADs consist of specialized catheters, guidewires, sheaths, and hemostatic devices designed to facilitate smooth and safe access to the radial artery.
Transradial Access Devices Market: Opportunities
The increasing adoption of the transradial approach for various medical procedures, such as coronary angiography and percutaneous coronary interventions (PCI), is boosting the demand for transradial access devices. The transradial approach offers advantages like reduced risk of bleeding, shorter hospital stays, and faster patient ambulation, making it an attractive option for both patients and healthcare providers.
Moreover, continuous advancements in device technology are driving innovation in transradial access devices, leading to the development of safer, more efficient, and user-friendly devices. These innovations are likely to attract healthcare professionals and further fuel market growth.
Transradial Access Devices Market: Dynamics
There has been a notable increase in the number of coronary artery procedures performed worldwide. As the prevalence of cardiovascular diseases rises, the demand for minimally invasive and safer access methods becomes paramount. Transradial access devices offer a less invasive option for cardiac interventions, reducing the risk of bleeding and vascular complications associated with traditional femoral access. This surge in coronary artery procedures is contributing to the rising demand for transradial access devices.
Moreover, the rising awareness among healthcare professionals and patients regarding the benefits of the transradial approach is driving the market growth. As the medical community acknowledges the advantages of transradial access, including quicker patient recovery, improved patient comfort, and decreased hospital stays, it becomes an increasingly preferred method for various medical procedures.
Transradial Access Devices Market: Geographical Insights
North America holds a dominant position in the transradial access devices market and accounted for a market share of 38.6% in 2022. This is owing to the increasing incidence of heart-related diseases in the region. For instance, according to the Centers for Diseases Control and Prevention, every year, about 805,000 people in the U.S. have a heart attack.
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Table of Contents
| 1 | Report Methodology and Scope |
| 2 | Report Definition and Overview |
| 3 | Executive Summary |
| 4 | Market Dynamics |
| 5 | Industry Factors |
| 6 | COVID-19 Analysis |
| 7 | Transradial Access Devices Market Segments and Region |
| 8 | Global Company Share Analysis – 10 Key Companies |
| 9 | Transradial Access Devices Market Company and Product Profiles |
| 10 | About DataM |
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