Home > Pressrelease > Transradial Access Devices Market size to surpass $3.5 Bn by 2032
Transradial Access Devices Market size to surpass $3.5 Bn by 2032
- Published Date: February 9, 2023
Transradial Access Devices Market size is projected to exceed USD 3.5 billion by 2032, according to a new research report by Global Market Insights Inc.
Burgeoning use of radial access devices in pediatric patients as the chief driver for the transradial access devices industry trends. Changing lifestyles, unhealthy dietary habits, and other environmental factors have resulted in an upsurge in the occurrences of cardiovascular diseases among the pediatric population, which is boosting the adoption of cardiac catheterization.
Furthermore, the TRA approach is considered safe, effective, and tolerable, eliminating the risk of bleeding and arterial damage, which is also estimated to expedite market development. As per the Journal of the American College of Cardiology research, the pediatric heart failure burden is lower in the U.S. than that of adults, however, per-patient resource use in pediatric patients is higher than in adult heart failure patients.
Worldwide upsurge in CVDs to increase TRA accessories demand
Transradial access devices market share from the accessories segment is primed to be worth over USD 747 million by 2032. Mounting incidences of cardiovascular diseases across the globe, together with an increase in the number of diagnostic and therapeutic vascular intervention procedures, are set to bolster the value for vascular access accessories.
According to WHO, high blood pressure is the main cause of cardiovascular diseases globally. Thus, in December 2022, the organization’s Regional Director of Europe launched the Signature Initiative to lower inequalities in the burden of CVDs as well as the prevalence of high blood pressure.
Browse key industry insights spread across 120 pages with 165 market data tables & 12 figures & charts from the report, “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), COVID-19 Impact Analysis, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” In detail along with the table of contents:
Inclusion of one-day surgeries to push ambulatory surgical centers segment progress
Heavy demand for transradial access devices in ambulatory surgical centers. The ambulatory surgical centers end-use segment is expected to depict more than 7% CAGR over 2023-2032. Additionally, increased preference for single-day discharge, combined with the existence of cutting-edge facilities at ambulatory surgical clinics is foreseen to boost patient preference.
Varied benefits of radial access to augment product usage in blood transfusion
The deployment of transradial access devices for the blood transfusion process, especially in anemia patients, is poised to remain high in the coming years. The transradial access devices market share from the blood transfusion application segment is estimated to witness more than 6.5% CAGR between 2023 and 2032.
The wide range of benefits associated with radial artery access viz., quick & efficient intravenous access, lesser vascular complications, reduced chances of clot formation, less arterial obstruction, and short hemostasis, are fostering product adoption. Radial access in PCI showed a significant reduction in all-cause mortality, including blood transfusion and femoral bleeding in post-PCI.
Growing number of chronic diseases to favor Europe TRA devices industry revenue
Europe transradial access devices market valuation is projected to reach USD 774.5 million by 2032. The region may emerge as a major hub for the industry owing to the spread of chronic diseases, such as cancer and coronary heart disease, in the region. Furthermore, the cumulative uptake of catheters and guidewires for heart disease and other related ailments is set to further supplement business development.
Product range expansion efforts to foster the industry outlook
Some key participants profiled in the transradial access devices industry include OSCOR Inc, Terumo Corporation, Medtronic, NIPRO Medical Corporation, Smiths Group, Merit Medical System, Inc., and Teleflex Corporation, among others.