Transradial Access Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI2916
Transradial Access Market size is projected to experience significant growth from 2018 to 2024.
Increasing burden of cardiovascular diseases in developed as well as developing economies will drive transradial access market growth over the forecast period. According to Centers for Disease Control and Prevention, around 28.1 million people across the globe are diagnosed with heart diseases. Furthermore, changing lifestyle, dietary habits and other environmental factors will fuel the adoption of cardiac catheterization thereby augmenting the transradial access business growth.
Rapidly growing geriatric population base prone to chronic diseases such as cancer other cardiovascular disease will spur transradial access business growth during the analysis period. As per the United Nations statistics, in 2017, around 962 million people worldwide aged 60 years and above. The number is expected to reach around 2.1 million by 2050. Moreover, increasing affordability and developments in healthcare facilities will augment transradial access industry growth. However, dearth in the number of cardiothoracic surgeons is expected to restrain market growth over the analysis period. High cost of vascular access devices coupled with associated maintenance cost will restrain transradial access market growth.
Catheters product segment is projected to lead the transradial access market during the analysis timeframe. The growth is attributable to growing adoption of interventional and angiography procedures for cardiac diseases in developed as well as developing economies. Surge in the number of surgical procedures will further fuel the demand for transradial access over the analysis period.
Drug administration segment accounted for the largest market share in transradial access market 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 disease will further augment segmental growth over analysis timeframe.
Hospitals segment held the highest market share in 2017 and is estimated to show considerable growth over the forecast period. The growth is attributable to increasing number of surgical procedures performed in hospitals. Growing adoption of minimally invasive procedures, availability of advanced healthcare facilities and fair reimbursement policies for surgeries performed in hospital settings will spur segmental revenue in the coming years.
North America transradial access market held the largest revenue share in 2017 owing to increasing prevalence of cardiac diseases in the region. Surge in the number of obese patients prone to cardiac disease will boost regional growth. Moreover, increasing investment in research and development activities for vascular access devices will foster the North America transradial access market during the forthcoming years.
Asia Pacific transradial access market is expected to witness robust growth during the forthcoming years. Prevalence of chronic diseases such as cancer, cardiac disease and other infectious disease is high in middle and low income countries. Large patient pool suffering from cardiac disease in the region as well increasing treatment affordability will further boost the regional market growth.
Some of the key industry players operating in transradial access market Ameco Medical Industries, AngioDynamics, Becton Dickinson and Company, Boston Scientific, Edward Lifesciences Corporation, Medtronic, Merit Medical System, NIPRO Medical Corporation, Oscor, Smiths Group, Teleflex Incorporated and Terumo Corporation. Industry players are majorly focusing on strategic acquisitions, mergers, partnerships and novel product launch to diversify existing product portfolio and capitalize on market opportunities.
Transradial access market by product, 2013-2024 (USD Million)
- Sheath and sheath introducers
Transradial access market by application, 2013-2024 (USD Million)
- Drug administration
- Fluid and nutrition administration
- Blood transfusion
- Diagnostics and testing
Transradial access market by end-use, 2013-2024 (USD Million)
- Hospitals and clinics
- Ambulatory surgical centers
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Ameco Medical Industries
- Becton Dickinson and Company
- Boston Scientific
- Edward Lifesciences Corporation
- Merit Medical System
- NIPRO Medical Corporation
- Smiths Group
- Teleflex Incorporated
- Terumo Corporation
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