Transradial Access Devices Market Trends and Challenges Till 2027

Transradial Access Devices Market Overview:

Transradial access devices market is anticipated to register a CAGR of 7.5% during the forecast period of 2020–2027. The Transradial Access Devices are intensively utilized in the healthcare market for diagnosis or treatment related to arterial disease. The transradial access to the coronary arteries reduces bleeding and vascular complications when compared with transfemoral artery access. Primary procedures include percutaneous stenting, angiography, and angioplasty. The procedure is carried out when the patient is experiencing chest pain very often to examine the patient’s coronary arteries. The procedure is carried with the help of the inflation of the balloon. The balloon being attached to the tip of the catheter is sent inside the blocked arteries. Once the balloon is placed at the right position, it is inflated to press against the plague which eventually pushes the plague to the side of the blood vessels; thereby blood flow in the arteries is brought back to normal.  

Regional Analysis

The Transradial Access Devices Market Trends 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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Key Players

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), Smiths 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), and others.

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.

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