Global Transradial Access Device Market - 2023-2030

Market Overview

Global Transradial Access Device Market reached US$ 2.0 billion in 2022 and is expected to reach US$ 3.4 billion by 2030 growing with a CAGR of 7.4% during the forecast period 2023-2030.

The transradial technique is a practical, minimally invasive approach to performing coronary and peripheral angiograms and interventions. Transradial catheterization is typically a safer, more cost-effective, and patient-friendly procedure.

Market Dynamics

Growing Geriatric Population will Drive the Growth of the Market

One of the primary driving factors that would boost the tranradial access device market is the expanding older population. A considerable proportion of the elderly population suffers from heart strokes and undergoes cardiovascular surgeries. Among these diseases, congestive heart failure, coronary artery diseases, hypertension, and atrial fibrillation have the greatest significance.

For instance, according to AHA Journals, it has been estimated that between 55% and 98% of older adults aged 60 years and over have at least 2 chronic diseases. Thus, increase in the population of older people is driving the market growth.

Increase in the Incidence of Cardiovascular Diseases is Driving the Market Growth

Increased disease incidences of chronic diseases, such as peripheral vascular diseases, will fuel market growth. Cardiovascular diseases are frequently occurring diseases. Stroke, peripheral arterial disease, and aortic disease events frequently occur. For instance, according to New York Govt., every year, about 805,000 Americans have a heart attack. Thus increase in the incidence of cardiovascular diseases will expand the market growth.

Side Effects Associated with the Devices Will Hamper the Market Growth

The side effects associated with transradial access devices can cause a decline in market growth. There are a number of side effects that are resulted due to the use of transradial access devices. The

use of transradial devices can lead to vascular complications. For instance, the most frequent complication after transradial access is about a 5% risk of radial artery occlusion.

This is a clinically insignificant complication if the Allen test is standard. Patients with incomplete palmar arch and abnormal Allen test may have symptoms of hand ischemia after radial artery occlusion. Thus, the side effects associated can hamper the market growth.

COVID-19 Impact Analysis

The COVID-19 pandemic epidemic has had a significant influence on the transradial access device market, posing unprecedented challenges to many countries. Delay in the treatment procedure and postponement of surgeries related to cardiovascular diseases has shown the impact on using the transradial access device. This resulted in a significant decline in the transradial device market growth.

Segment Analysis

The transradial access device market is segmented based on product type, application, and end user.

The Guidewires Segment Accounts for 27.3% the of Transradial Access Device Market Share

Guidewires are used during minimally invasive interventional procedures to traverse in the vascular system and access the desired position. Computer models are increasingly being used to predict the behavior of these instruments. Ace Angiography Guide Wires are hydrophilic guidewires and are used for percutaneous vessel entry to facilitate the subsequent introduction of an intravascular device. This device is supplied sterile in a peel-open pouch.

The purpose of a guidewire is to gain access to the blood vessels using a minimally invasive technique. For instance, according to CDC, coronary heart disease is the most common type of heart disease, killing 375,476 people in 2021. Thus, an increase in the number of coronary heart diseases expands the market growth. Thus, the cardiovascular disease segment holds the leading position in the market share.

Geographical Analysis

Asia Pacific accounted for Approximately 23.4% of the Market Share Owing to the Increasing Geriatric Population.

During the forecast period, Asia-Pacific is expected to grow at the fastest rate because of the growing geriatric population in nations such as India and China, the region has become a hotspot for cardiovascular disorders, increasing demand for coronary therapies and fueling company expansion. As well as an increase in the number of cases of cardiovascular disease and technical advancement in this region.

For instance, according to NLM, India has one of the world's highest burdens of cardiovascular disease (CVD). The annual number of CVD fatalities in India is expected to climb from 2.26 million in 1990 to 4.77 million in 2020. Over the last several decades, estimates of the prevalence of coronary heart disease in India have ranged from 1.6% to 7.4% in rural populations and from 1% to 13.2% in urban populations. As a result, diseases are on the rise, which contributes to the region's growth.

Competitive Landscape

The major global players in the transradial access device market include: AmecoMedical; BD; Angiodynamics, Inc.; BostonScientific Corporation; Edward Lifesciences Corporation; Teleflex Incorporated; Merit Medical Systems; Medtronic; Nipro Medical Corporation; Oscor Inc. among others.

Why Purchase the Report?

• To visualize the transradial access device market segmentation based on product type, application, end-user, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of transradial access device market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The transradial access device market report would provide approximately 53 tables, 54 figures, and 195 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies