Transradial Access Products - Market Insights, Competitive Landscape, and Market Forecast - 2030

Transradial Access Products Market By Product (Catheter, Guidewire, Sheath, And Others), By Application (Diagnostic & Interventional, Drug Administration, Blood Transfusion, And Others), By End-User (Hospitals & Clinics, Ambulatory Surgical Centers, And Others), and by geography is expected to grow at a steady CAGR forecast till 2030 owing to the increasing prevalence of cardiovascular diseases and the growing technological advancements in access products such as drug-coated balloons, nanotechnology, and others

The global transradial access products market was valued at USD 1,978.64 million in 2023, growing at a CAGR of 7.48% during the forecast period from 2024 to 2030 to reach USD 3,035.86 million by 2030. The demand for transradial access products is primarily being boosted by the increasing prevalence of cardiovascular diseases, growing lifestyle diseases such as obesity, diabetes, and others, rising number of chemotherapy procedures, increasing development of robotic-assisted catheter systems, growing use of radial access devices in geriatric as well as high-risk patients, along with technological advancements are thereby contributing to the overall growth of the transradial access products market during the forecast period from 2024-2030.

Transradial Access Products Market Dynamics:

The transradial access products market is witnessing a growth in product demand owing to various factors, one of the key factors being the increase in the prevalence of cardiovascular diseases such as coronary heart disease, peripheral artery disease, stroke, etc. For instance, according to the American Heart Association (AHA) (2023), it was reported that in 2020 approximately 244.1 million people were living with ischemic heart disease (IHD), globally.

British Heart Foundation (BHA) (2023) stated that globally, 1 in 14 people are living with a heart or circulatory disease. According to the same source, around 550 million people were living with heart and circulatory diseases worldwide in 2022, owing to changing lifestyles, a rising geriatric population, and others.

Thus, the increasing prevalence of cardiovascular diseases will increase the demand for transradial access devices as these devices assist in the treatment of arterial diseases such as peripheral artery disease and coronary artery disease, among others by providing catheterization procedures during the surgical procedure.

Apart from this, the rise in the usage of transradial access products in chemotherapy patients is also expected to drive market growth. According to the WHO (2023), worldwide around 18.1 million cancer cases were reported in 2020, out of these, 9.3 million cases were found in men and around 8.8 million in women. Transradial access during chemotherapy has shown various advantages as transradial access allows for targeted delivery of chemotherapy by super selective catheterization and reduces systemic toxicity. Also, in the case of chemo saturation with percutaneous hepatic perfusion access via the radial artery is a feasible alternative for the delivery of chemotherapy, which may reduce morbidity and the risks usually associated with femoral access. Thus, the increasing number of cases of cancer will increase the number of chemotherapy procedures, thereby increasing the demand for transradial access products.

Further, the increasing launches and approvals of transradial access products are also likely to bode well for market growth during the forecast period. For example, in 2021, Terumo Corporation launched RADIFOCUS(TM) Glidecath(TM) R.A.V.I. MG1/MG2, a hydrophilically coated, angiographic catheter that provided vessel selectivity and navigation.

Therefore, the above-mentioned factors are contributing to the growth of the transradial access products market during the forecast period from 2024-2030.

However, risks associated with transradial access products, and others may restrict the transradial access products market growth.

The transradial access products market experienced a period of a temporary setback as lockdown restrictions were enforced as a necessary step to curb the spread of COVID-19. The demand for transcatheter mitral valve repair devices was disrupted owing to the decline in the number of patients in hospitals & clinics for surgeries. Moreover, manufacturing and research & development activities were halted owing to the imposition of strict lockdown rules and due to a lack of resources However, with the resumption of various activities and with the administration of vaccines across different regions of the world, the demand for transradial access products devices increased significantly with the resumption of patients in hospitals for diagnosis and surgical procedures. Henceforth, the aforementioned factors propelled the demand for transcatheter mitral valve repair dev transradial access products during the pandemic and are estimated to grow similarly during the forecast period.

Transradial Access Products Market Segment Analysis:

Transradial access products market by Product (Catheter, Guidewire, Sheath, and Others), Application (Diagnostic & Interventional, Drug Administration, Blood Transfusion, and Others), End-User (Hospitals & Clinics, Ambulatory Surgical Centers, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the product segment of the transradial access products market, the catheter category is expected to amass a significant revenue share in the year 2023. This can be ascribed to the advantages and applications related to the segment.

Transradial access (TRA) via the left radial artery is an alternative to traditional transfemoral access for catheter-based procedures that are becoming increasingly relevant in all types of arterial vascular interventions. A routine procedure that can aid in the diagnosis of heart disease is cardiac catheterization. By placing stents and using balloon angioplasty to clear blocked arteries, catheterization is occasionally used to treat heart disease.

decreased risk of bleeding and access site problems, its safety, and growing technological advancements, compared to other conventional products, coupled with a high prevalence of cancer and heart-related disorders.

Cardiac catheterization helps in the diagnosis of multiple heart diseases, including atherosclerosis, cardiomyopathy, congenital heart disease, heart failure, and heart valve disease. With the growing burden of cardiovascular diseases all over the world, the catheter segment is expected to witness significant growth. According to the CDC in 2022, 4.6% of adults in the United States had coronary heart disease in 2020. Additionally, as per the same source (2021), in the United States, about 1.5 million people experience heart attacks and strokes annually. Coronary heart disease is the most prevalent form of heart disease. Thus, the public is becoming more aware of disease management and the value of diagnostics as a result of this worrying situation. Thus, the increasing prevalence of such diseases will increase the demand for catheter-related transradial access products.

Also, rising approvals and launches related to catheter-related transradial access products are projected to exhibit the fastest growth during the forecast period. For instance, in 2021, Medtronic announced the approval of a CE Mark for its radial artery access portfolio, which includes Rist(TM) Radial Access Selective Catheter and Rist(TM) 079 Radial Access Guide Catheter. The Rist 079 Radial Access Guide Catheter is a specifically designed catheter for accessing neuro vasculature through the radial artery versus accessing through the transfemoral artery. This allowed clinicians to reach distal locations while achieving excellent stability in the system.

Therefore, the advantages and applications offered by catheters are predicted to contribute to the increasing demand for this product type thereby driving the growth of the overall transradial access products market during the forecast period.

North America is expected to dominate the overall Transradial Access Products Market:

Among all the regions, North America is estimated to account for the largest share of the transradial access products market in the year 2023. Owing to the factors such as the increasing prevalence of lifestyle diseases such as diabetes, obesity, and others, rising incidences of cardiovascular diseases such as strokes, and coronary artery diseases, among others, rising burden of geriatric patients, and escalating regulatory approvals among others, will create a positive growth in the North America transradial access products market.

For instance, according to Pan American Health Organization (PAHO) (2021), cardiovascular diseases (CVD) account for 40.8 million disability-adjusted life years (DALYs) each year in the United States.

The CDC (2023) stated that every year, about 805,000 people in the United States have a heart attack, and of these 605,000 are a first heart attack.

Also, Leukemia & Lymphoma Society (2021) stated that in 2021, approximately every 3 minutes, one person in the US is diagnosed with Leukemia, Lymphoma, or myeloma. According to the same source, in 2021, approximately 397,501 people were living with or in remission from leukemia in the United States.

Therefore, in such cases, transradial access products prove to be beneficial for the treatment of large patient pools, hence driving the regional market during the forecast period (2024-2030).

Fair or poor health status affects 2.1% of children in the United States in 2020, and 3.3% of children aged 5 to 11 missed 11 or more days of school in the previous 12 months as a result of an illness or injury, according to CDC updates from February 2022. Additionally, according to the aforementioned source, 20.3% of children in the United States between the ages of 6 and 11 are obese. Given that obesity is one of the major risk factors for several diseases, the prevalence of pediatric illness in the nation is anticipated to rise, which will fuel growth in the market under consideration.

Coupled with the factors mentioned above, the increasing regulatory approvals and launches will also drive the market of transradial access products. For instance, in February 2020, RIST Neurovascular, Inc. announced US Food and Drug Administration (FDA) clearance for the RIST Cath Radial Access Long Sheath(TM) (RIST Cath) for the treatment of peripheral, coronary, and neurovascular systems. RIST Cath was the first device designed specifically for accessing the neuro vasculature through the radial artery in the wrist, enabling neurovascular procedures to be performed transradially. Thus, such strategic steps help to increase the demand for transradial access products, thereby driving the North America transradial access products market forward during the forecast period.

Transradial Access Products Market Key Players:

Some of the key market players operating in the transradial access products market include AngioDynamics, Terumo Medical Corporation, Medtronic, SCW Medicath Ltd, Tianck Medical Co., Ltd., Edwards Lifesciences Corporation, Shanghai Kindly Medical Instruments Co., Ltd., Colibri Heart Valve, Merit Medical Systems, Nipro Medical Corporation, Boston Scientific Corporation, Cordis, Beijing Demax Medical Technology Co., Ltd., BD., Teleflex Incorporated, and others.

Recent Developmental Activities in the Transradial Access Products Market:

In November 2022, Merit Medical announced the launch of the PreludeSync EZ radial compression device, which was designed to provide precise two-handed placement and clear visibility of the access site. The product was developed to optimize bleeding prevention for radial artery procedures.

In May 2019, Cordis announced the US launch of the Radial 360 portfolio, offering a complete range of products to facilitate the transradial approach (TRA) for interventional cardiology procedures. The Cordis Radial 360 portfolio is composed of Rain Sheath Transradial Thin-Walled Introducer, Railway Sheathless Access System, diagnostic catheters, and a vascular compression band. The system offered fewer bleeding complications, faster post-procedure mobility, improved patient comfort, less hospital stay, and thereby reduction of in-hospital costs.

Key Takeaways from the Transradial Access Products Market Report Study

Market size analysis for current transradial access products market size (2023), and market forecast for 5 years (2024-2030)

The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the transradial access products market.

Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years

Key companies dominating the global transradial access products market

Various opportunities available for the other competitor in the transradial access products market space.

What are the top-performing segments in 2023? How these segments will perform in 2030?

Which are the top-performing regions and countries in the current transradial access products market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for transradial access products market growth in the coming future?

Target Audience who can be benefited from this Transradial Access Products Market Report Study

Transradial access products providers

Research organizations and consulting companies

Transradial access products-related organizations, associations, forums, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders dealing in transradial access products

Various End-users who want to know more about the transradial access products market and the latest technological developments in the transradial access products market.

Frequently Asked Questions for the Transradial Access Products Market:

1. What are transradial access products?

Transradial access products are tools that are used for percutaneous coronary intervention and coronary angiography. Transradial access is required for a catheterization procedure performed for the diagnosis and treatment of arterial diseases.

2. What is the market for global transradial access products?

The global transradial access products market was valued at USD 1,978.64 million in 2023, growing at a CAGR of 7.48% during the forecast period from 2024 to 2030 to reach USD 3,035.86 million by 2030.

3. What are the drivers for the global transradial access products market?

The demand for transradial access products is primarily being heightened by the increasing prevalence of cardiovascular diseases, growing lifestyle diseases such as obesity, diabetes, and others, rising number of chemotherapy procedures, increasing technological advancements, rising product launches and approvals, and others are thereby contributing to the overall growth of transradial access products market during the forecast period from 2024-2030.

4. Who are the key players operating in the global transradial access products market?

Some of the key market players operating in the transradial access products market include AngioDynamics, Terumo Medical Corporation, Medtronic, SCW Medicath Ltd, Tianck Medical Co., Ltd., Edwards Lifesciences Corporation, Shanghai Kindly Medical Instruments Co., Ltd., Colibri Heart Valve, Merit Medical Systems, Nipro Medical Corporation, Boston Scientific Corporation, Cordis, Beijing Demax Medical Technology Co., Ltd., BD., Teleflex Incorporated, and others.

5. Which region has the highest share in the Transradial Access Products market?

North America is expected to dominate the overall transradial access products market during the forecast period from 2024-2030.

Factors such as the rising prevalence of lifestyle diseases such as diabetes, obesity, and others increasing incidences of cardiovascular diseases such as strokes, and coronary artery diseases, growing use of radial access devices in pediatric patients, and increasing regulatory approvals, among others will drive the overall growth of North America transradial access products market.