Transradial Access Devices Market Demand, Size, Share, Growth Opportunities, Market Potential, Segmentation, Trends & Global Industry Forecast to 2032
Market Insights:
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. The large-scale prevalence of arterial diseases is one of the key factors driving the growth of the transradial access devices market.
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 segmentation:
By product, the global transradial access devices market is segmented into catheters, guidewires, sheaths, and sheath introducers, accessories, and others. The catheters segment is further segmented into cardiovascular catheters, specialty catheters, intravenous catheters, urinary catheters, and neurological catheters. The guidewires segment is sub-segmented into solid guidewire and wrapped guidewire.
By application, the transradial access devices market has been segmented into drug administration, fluid and nutrition administration, blood transfusion, and diagnostics and testing.
By disease area, the global transradial access devices market is segmented into cardiovascular diseases, cancer, rheumatoid arthritis, ischemic stroke, endometriosis, and others.
By end-user, the transradial access devices market has been segmented into hospitals, clinics, ambulatory care centers, and others.
Regional Analysis:
By region, the transradial access devices market has been segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa. Americas dominate the global market and is likely to exhibit tremendous growth across the assessment period. The growth is attributable to the increasing awareness about the devices coupled with highly prevalent cardiovascular diseases.
Europe holds the second position and is expected to remain a highly lucrative market across the review period. Meanwhile, Asia Pacific is poised to exhibit a relatively higher CAGR during the forecast period.
Competitive Dashboard:
Some of the Transradial access devices market key players profiled in the report are Becton, Dickinson and Company (U.S.), Smiths Group Plc (UK), Edward Lifesciences Corporation (U.S.), Medtronic Plc (Ireland), Terumo Corporation (Japan), Teleflex Incorporated (U.S.), Merit Medical System, Inc. (U.S.), Boston Scientific Corporation (U.S.), AngioDynamics (U.S.), Ameco Medical Industries (Egypt), NIPRO Medical Corporation (U.S.), and OSCOR Inc. (U.S.).
Industry News:
In January 2018, the U.S. based Corindus partnered with medical giant Medtronic for co-sponsoring courses on transradial access techniques.
In September 2018, Emblox, the U.S., announced the launch of Sniper Balloon occlusion microcatheters which has been designed for pressure-directed arterial embolization therapy.
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