The Transradial Access Market size is forecast to reach $2.56 billion by 2025, growing at a CAGR of 7.21% during the forecast period 2020-2025. Transradial access devices are widely utilized in coronary procedures to lower complications. Peripheral lesions also can be treated by transradial access devices. Transradial access devices are used for peripheral artery diseases such as atherosclerosis diseases of extracranial carotid and vertebral, abdominal mesenteric, and renal as well as extremity arteries. Increasing prevalence of obesity and growing preference for interventional procedures using radial artery access is the major factor driving the growth of the market. Technological advancements and the increasing number of chemotherapy procedures are set to further enhance the overall market demand for the Transradial Access Market during the forecast period 2020-2025.
Transradial Access Market Segment Analysis - By Product
The Catheters held the largest share in the Transradial Access Market in 2019 and is estimated to grow at a CAGR of 7.9% during the forecast period 2020-2025 owing to factors such as the increasing incidence of lifestyle-related diseases such as cardiovascular diseases, obesity, and diabetes and the growing number of interventional and angiography procedures. A catheter is a soft hollow tube, which is passed into the bladder to drain urine and is sometimes necessary for people, who for a variety of reasons, cannot empty their bladder in the usual way. Indwelling catheters are usually required short term for several weeks or months when continuous bladder drainage is needed, but occasionally they are required for long-term use. Catheters are manufactured in a variety of materials, which means they can be left in place for many weeks. The Catheters is set to be the highest growing segment and is estimated to register the highest CAGR during the forecast period 2020-2025.
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Transradial Access Market Segment Analysis - By Applications
The Drug Administration held the largest share in the Transradial Access Market in 2019. Many drugs can be administered orally as liquids, capsules, tablets, or chewable tablets. Most drugs are usually absorbed from the small intestine. The drug passes through the intestinal wall and travels to the liver before being transported via the bloodstream to its target site. The intestinal wall and liver chemically alter (metabolize) many drugs, decreasing the amount of drug reaching the bloodstream. Consequently, these drugs are often given in smaller doses when injected intravenously to produce the same effect. A drug product can be prepared or manufactured in ways that prolong drug absorption from the injection site for hours, days, or longer. Such products do not need to be administered as often as drug products with more rapid absorption. Certain drugs can be given by inserting plastic capsules under the skin (implantation). Although this route of administration is rarely used, its main advantage is to provide a long-term therapeutic effect The Drug Administration is set to be the highest growing segment and is estimated to register the highest CAGR during the forecast period 2020-2025.
Transradial Access Market Segment Analysis - By Geography
North America dominated the Transradial Access Market in 2019 with a share of more than 37.27%, followed by Europe owing to the growing prevalence of cardiovascular diseases, and rising number of conferences and workshops. A large number of cancer patients and an increase in research and clinical trials for vascular access devices is increasing the growth of the Transradial Access Market in this region.
However, Europe is estimated to grow at a higher CAGR during the forecast period 2020-2025 owing to the increasing incidences of chronic disease, and technological advancement in treatment options for diseases. Favourable reimbursement policies and huge population suffering from cardiovascular diseases is increasing the growth of the Transradial Access Market in this region.
Transradial Access Market Drivers
Increasing prevalence of obesity
The increasing prevalence of obesity is increasing the growth of the Transradial Access Market. Obesity and improper diet play a major role in increasing diabetes among the population. Physical activity is important to maintain the blood glucose level. The lack of exercise and unhealthy diets such as a diet high in fat and calories increase the risk for the development of obesity and diabetes cardiovascular diseases (CVDs) are disorders of the heart and blood vessels and include cerebrovascular disease, coronary heart disease, rheumatic heart disease, and other conditions. The fundamental explanation for obesity and overweight is an energy imbalance between calories consumed and calories expended. Changes in dietary and physical activity patterns are often the results of environmental and societal changes related to the event and lack of supportive policies in sectors like health, agriculture, transport, urban planning, environment, food processing, distribution, marketing, and education. Thus, increasing the growth of the Transradial Access Market during the forecast period 2020-2025.
Rising inclination for interventional procedures using radial artery access
The rising inclination for interventional procedures using radial artery access is increasing the growth of the Transradial Access Market. Radial access for cardiac catheterization and intervention is preferred in developing nations. Comparable procedure times and radiation exposure to femoral procedures, the ability to perform complex coronary interventions, initial ambulation, and patient preference is rising. Some of the advantages of the transradial approach include instant ambulation, whereas, there is complete bed rest after femoral procedures. The cost of transradial is lower as compared to femoral, which needs fewer post procedures for nursing care, and it has reduced hospital stay and cost. Thus, increasing the growth of the Transradial Access Market during the forecast period 2020-2025.
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Transradial Access Market Challenges
Stringent regulatory scenarios, low reimbursements and high cost of procedures
Some of the factors that is set to impede the growth of the Transradial Access Market are the stringent regulatory scenarios, low reimbursements, and high cost of procedures.
Transradial Access Market Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Transradial Access Market. In 2019, the Transradial Access Market share is consolidated by the top ten players present in the market. Transradial Access Market, the top 10 companies are Becton, Dickinson and Company and Terumo Corporation, Teleflex Incorporated, Smiths Group Plc, Edward Lifesciences Corporation, Medtronic, Merit Medical System, Inc., Boston Scientific, NIPRO Medical Corporation, AngioDynamics, Ameco Medical Industries, and OSCOR Inc.among others.
Acquisitions/Product Launches
In February 2017, Medtronic Plc. expanded its coronary portfolio which is including the DxTerity Diagnostic Angiography Catheter line and several transradial-specific products including the DxTerity TRA, InTRAkit access kit, and TRAcelet compression device.
Key Takeaways
North America dominated the Transradial Access Market in 2019 owing to the growing prevalence of cardiovascular diseases and rising number of conferences and workshops including a large number of cancer patients. The Transradial Access Market scope for different regions will be provided in the final report.
Increasing inclination of patients for transradial access procedures for percutaneous coronary intervention and increasing application of transradial access devices for drug administration is likely to aid in the market growth of the Transradial Access Market.
Detailed analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Transradial Access Market report.
Stringent regulatory scenarios, low reimbursements, and high cost of procedures is poised to create hurdles for the Transradial Access Market.
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B. Complex Percutaneous Coronary Intervention Market
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