Transradial Access Devices Market Size By Product (Catheters, Guidewires, Sheath & Sheath Introducer, Accessories), By Application (Drug Administration, Fluid & Nutrition Administration, Blood Transfusion, Diagnostic & Testing), By End-use (Hospitals & Clinics, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027

Industry trends

Transradial Access Devices Market size was valued at over USD 1.7 billion in 2020 and is estimated to grow at around 4.8% CAGR between 2021 and 2027. The market growth is owing to increasing prevalence of cardiovascular disease coupled with growing geriatric population.
 

Transradial access refers to the use of superficial radial arteries for various cardiac catheterization procedures. Transradial access devices are widely used in coronary procedures to lower complications. Peripheral lesions can also be treated by transradial access devices. Also, transradial access devices are used for peripheral artery diseases such as atherosclerosis diseases of extra cranial carotid and vertebral, abdominal mesenteric, and renal as well as extremity arteries.
 

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Growing geriatric population will contribute to escalating patient admissions with coronary diseases. It is among the leading cause of mortality in elderly populations. Also, adoption of unhealthy habits such as alcohol and smoking along with a sedentary lifestyle will further contribute to disease population. Therefore, significant increase in hospital admissions will stimulate the demand for advanced treatment solutions offering immense growth opportunities for the transradial access devices market in the coming years.
 

Guidewires and catheters are essential medical devices that are used in critical life-saving procedures. Thus, it can be expected that the COVID-19 crisis will not have a significant impact on manufacturing of such devices. However, due to nationwide lockdowns, there can be logistical disruption in supply of guidewires and catheters. This could cause temporary shortages and can potentially increase the price of the products.
 

Technological advancements in vascular access devices will spur the transradial access devices market expansion

Growing technological advancements in vascular access devices will positively influence the industry growth. Technological advances including drug-coated balloons and use of nanotechnology as well as several other breakthroughs have increased the procedure outcome and success rate. Furthermore, various technologies such as cobalt chromium multi-link technology, triaxial technology, interwoven wire technology will boost the usage of catheters and guidewires for transradial coronary artery procedures. Similarly, benefits such as flexibility, strength, deliverability and visibility will offer the high market revenue opportunities over the coming years. Also, rapid innovations coupled with increasing investment in R&D activities will fuel the transradial access devices market value during the forecast timeframe.
 

Stringent regulatory framework may slow down the market

Stringent regulatory framework may act as a barrier in the transradial access devices market size. Centre for Devices and Radiological Health (CDRH) is responsible for preparing guidelines for coronary, peripheral and neurovascular devices including guidewires and catheters. The medical devices manufactured or sold in the U.S. market must comply with the standards issued by U.S. FDA for patient safety. Moreover, FDA has classified transradial access devices under Class II devices and without regulatory body approvals, the devices cannot be launched into the market for customer use. If approvals are delayed or denied, they result in a loss of time and money to the manufacturers.
 

Advantages associated with catheter in transradial procedure will propel the segment growth

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The catheter segment accounted for 48.3% of the transradial access devices market share in 2020 led by growing acceptance of interventional and angiography procedures for cardiac diseases in developed as well as developing economies. Also, surge in the number of surgical procedures will further fuel the demand for transradial procedures, thereby fostering the market demand. In addition, radial-specific catheter enables angiography of both right and left coronaries with a clockwise and counter-clockwise rotation of one catheter. Therefore, this helps in eliminating catheter exchange and can result in less total procedure and fluoroscopy time as well as less incidence of radial artery spasm.
 

Usage of vascular access devices for drug administration for treatment of cancer and infectious disease will drive the segment expansion

The drug administration segment in the transradial access devices market exceeded USD 635.5 million in 2020 due to growing burden of chronic diseases worldwide. Increasing usage of vascular access devices for drug administration, especially in treatment of cancer and other infectious diseases will further influence the market growth. Additionally, in transradial coronary artery procedures, vasodilator medications are widely used to reduce radial artery spasm, thereby augmenting the segment value.
 

Increasing number of hospital admissions will enhance the segment revenue

The transradial access devices market for hospital and clinics end-use segment are poised to reach USD 1 billion by 2027. Increasing number of hospital admissions and rising geriatric population that are susceptible to various cardiovascular conditions will drive the market expansion. Also, rising number of surgical procedures including transradial coronary catherization procedures performed in hospitals setting will impel the market value. This will potentially increase the demand for vascular access devices and boost the industry demand. Furthermore, growing adoption of minimally invasive procedures, availability of advanced healthcare facilities and fair reimbursement policies for surgeries performed in hospital settings will positively impact the segment size in the coming years.
 

Growing prevalence of cardiac diseases across the North America region will spur the market revenue

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North America transradial access devices market held 14% of revenue share in 2020 and is predicted to expand at a 4.7% growth rate till 2027 on account of increasing prevalence of cardiac diseases in the region. According to the Center for Disease Control and Prevention (CDC) report, nearly 48% of all adults in the U.S. have some form of cardiovascular disease (CVD) including coronary artery disease. Such rising incidence of CVD across the country will foster the acceptance of transradial procedures, thereby supplementing the market demand. Furthermore, surge in the number of obese patients is prone to cardiac disease will boost regional growth. Also, increasing investment in R&D activities for vascular access devices will propel the industry growth during the forecast timeline.
 

Adoption of business strategies will pave growth opportunities for companies operating in the market

Prominent companies operating in the transradial access devices market include Medtronic, Terumo Corporation, Boston Scientific, AngioDynamics, BD Company and Merit Medical System among others. New product launch & approval, acquisition and collaboration are the most adopted business strategies to sustain market position.
 

Some of the recent industry developments:

• In February 2020, Cordis, a Cardinal Health company to launch its new technologically advanced Railway Sheathless Access System in India this year. The Cordis Railway Sheathless Access System is indicated for use in radial artery procedures requiring percutaneous introduction of intravascular devices. This strategy is set to add value to its existing portfolio as well as outreach to untapped economies, thereby strengthening market presence.
• In February 2017, Medtronic launched its new percutaneous coronary intervention devices. The devices include DxTerity diagnostic angiography catheter line, the DxTerity TRA, InTRAkit transradial devices and the TRAcelet compression device. This strategy enabled company to enhance its product portfolio.

The transradial access devices market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027, for the following segments:

Market, By Product

• Catheters
• Guidewires
• Sheath and sheath introducers
• Accessories

Market, By Application

• Drug administration
• Fluid and nutrition administration
• Blood transfusion
• Diagnostics and testing
• Others

Market, By End-use

• Hospitals & clinics
• Ambulatory surgical centers
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • South Africa
  • Saudi Arabia