Transradial Access Devices Market Analysis

Transradial Access Devices Market Analysis

With respect to the product, the transradial access devices market is divided into catheters, sheath & sheath introducers, guidewires, and accessories. The catheters segment was valued at more than USD 909.5 million in 2022. An upsurge in vascular intervention procedures is set to drive segment size. Additionally, radial-specific catheters allow simultaneous angiography of both right and left coronary arteries by clockwise or anticlockwise rotation. A September 2021 research study states that a catheter system eases anatomies and is a cost-effective access site care compared to conventional coronary interventional procedures.
 

In terms of application, the transradial access devices market is classified into fluid & nutrition administration, diagnostic & testing, blood transfusion, drug administration, and others. diagnostic and testing segment is anticipated to reach over USD 817.5 million in revenue by 2032. The demand for TRA cardiac catheterization is increasing as more adults and children are developing heart disorders, boosting product uptake for improved detection and treatment of the underlying ailment. According to the Centers for Disease Control and Prevention, approximately 1500 people under the age of 25 years die each year of sudden cardiac disorders in the United States.
 

Based on end-use, the TRA devices market is categorized into hospitals & clinics, ambulatory surgical centers, and others. The hospitals & clinics segment accounted for over 42.5% business share in 2022. The segment revenue share is likely to be stimulated by the increasing use of minimally invasive procedures, the availability of cutting-edge medical facilities, and favorable reimbursement regulations for surgeries carried out in hospital settings. For instance, in October 2022, Emblemhealth, a health insurance company, introduced a new reimbursement policy for billing in hospital facility treatment rooms.
 

The transradial access devices market in the Asia Pacific is primed to expand at an 8.5% CAGR over 2023-2032. This is attributed to the growing geriatric population in countries such as India and China, making it a hotspot for cardiovascular diseases, thereby increasing the demand for coronary interventions in the region and fueling business expansion. According to United Nations ESCAP, there are over 630 million people aged above 60 years in the APAC region, constituting over 60% of the global elderly population.