Market Analysis
The global radial artery compression devices market report was valued USD 362 million in 2030 and is likely to grow at a 7.40% CAGR between 2022-2030, reveals the new Market Research Future (MRFR) report. Radial artery compression devices help to promote hemostasis post catheterization of arteries. It comprises an adjustable belt & tubing, unilateral valve, and compression balloons. It is mainly utilized for the radial artery in hands after the transradial process. Radial artery compression devices come in two forms reusable and disposable, and the different types include plant-based devices, knob-based devices, band/strap based devices, and others. Owing to its alluring features and plentiful benefits, radial artery compression devices have wide applications in cath lab, ambulatory centers, clinics, hospitals, amid others.
Numerous factors are adding to the global radial artery compression devices market growth. Such factors, as revealed by the latest MRFR report, include increasing research and development activities, lesser post-procedural complications, a significant increase in the global aging population, and improved patient safety and comfort. Additional factors propelling the radial artery compression devices market growth include increasing geriatric devices, rising cardiovascular disorders, increasing economic growth, and technological advances in medical devices.
On the contrary, stringent regulatory compliance may limit the radial artery compression devices market growth over the forecast period.
Key Players
Leading players profiled in the global radial artery compression devices market report include Comed B.V., Advanced Vascular Dynamics, Beijing Demax Medical Technology, Vascular Solution Inc., MEDAS INC, HTKD Medical, Perouse Medical, ADVANCED LIFESCIENCES PVT. LTD, Abbott Laboratories, Merit Medical, Inc., Medtronic, Terumo Corporation, among others. Industry players have incorporated several strategies to create a niche in the market, such as mergers and acquisitions, strategic alliances, extensive research and development activities, new product launch and development, partnerships, collaborations, contracts, joint ventures, and many others.
Market Segmentation
The Market Research Future Report provides an inclusive segmental analysis of the global radial artery compression devices market based on end user, usage, and product.
By product, the radial artery compression devices market research is segmented into plant-based devices, knob-based devices, band/strap based devices, and others. Of these, the knob-based radial artery compression devices will lead the market over the forecast period.
By usage, the radial artery compression devices market is segmented into reusable devices and disposable devices.
By end user, the radial artery compression devices market is segmented into the cath lab, ambulatory centers, clinics, hospitals, and others.
Regional Analysis
By region, the global radial artery compression devices market report covers the growth opportunities and recent trends across Europe, the Americas, the Asia Pacific (APAC), and the Middle East and Africa. Of these, the Americas will spearhead the market over the forecast period. Factors propelling the growth of the radial artery compression devices market growth in the region include the presence of leading industry players in the region, high healthcare expenditure, increasing use of advanced technology in medical devices, and the presence of a massive cardiovascular disorder patient population.
The radial artery compression devices market in Europe is predicted to hold the second-largest share over the forecast period for increasing awareness among end users. Besides, favorable government initiatives, unmet needs, increasing geriatric population, and the presence of leading market players are also adding market growth.
The radial artery compression devices market in the APAC region is predicted to grow at a quick pace over the forecast period. Factors propelling the growth of the radial artery compression devices market growth in the region include rapidly improving technology, huge patient pool, and rising geriatric population.
The radial artery compression devices market in the Middle East and Africa is predicted to have a steady growth over the forecast period.
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