The cost-effectiveness of the approach and increasing chronic disease prevalence, preference for radial artery access during interventional procedures, chemotherapy procedure volume, radial access device use on high-risk and geriatric patients, and healthcare expenditure are the major reasons behind the transradial access devices market advance. Subsequently, the industry will grow at an 8.4% CAGR during 2018¬–2023 (forecast period) to reach $24.1 billion by 2023 from $14.9 billion in 2017.
During transradial procedures, a catheter, which is a thin hollow tube, is inserted through the radial artery in the wrist and guided to the target blood vessel, tissue or organ in the body. One of the major applications of transradial catheterization is diagnosing and treating issues in the coronary, peripheral, and other arteries. Though in many countries, the transfemoral approach is used, wherein the catheter is inserted into the femoral artery in the groin, the transradial approach is rapidly becoming popular because it offers patients more comfort and safety and is cost-effective.
Fluid and nutrition administration, drug administration, diagnostics and testing, and blood transfusion are the various divisions when the transradial access devices market is segmented on the basis of application. In 2017, the market was led by the drug administration division, with a more than 45.0% share. Parenteral, transdermal, and intravenous are some popular ways to deliver drugs to the body, but this way, the drug can take a little time to reach the target organ, vessel or tissue, thus driving the popularity of the transradial approach, to administer drugs as close to the target area as possible.
In 2017, Europe held the largest share in the transradial access devices market, of more than 40.0%. This is attributed to the widespread adoption of transradial interventions (TRI) for percutaneous coronary interventions (PCI). Additionally, a large number of same-day-discharge clinics have opened up in the region, which use the TRI approach, which is cost-effective and quicker than the transfemoral alternative. Based on country, the U.S. would witness the highest CAGR, of 11.8%, during the forecast period, owing to the increasing awareness about the benefits of the transradial approach over the transfemoral approach.
Therefore, as more doctors realize the advantages of transradial access and adopt this approach, the demand for the various devices used during the procedure will increase as well.
The recent studies by Market Research Future (MRFR) reveals the Global Transradial Access Devices Market to attain significant growth over the forecast period.
The market is projected to exhibit a CAGR of 7.5% during the forecast period 2018 to 2023.Transradial Access Devices are devices that are used in the procedure of catheterization or endovascular to perform treatment and diagnosis of any kind due to arterial disease.
The product comes with a transradial access device kit that comprises of numerous small components like catheters, guidewires, sheaths and sheath introducers, and various accessories like cannulas and needles.
These kits are typically used for the treatment and diagnosis of cardiovascular diseases.The growing preference for interventional procedures using radial artery access, rising prevalence of obesity, growing prevalence of lifestyle-based diseases, increasing number of chemotherapy procedures, and the increasing usage of radial access devices in pediatric patients are all expected to cumulatively drive the demand of the market over the forecast period.
On the flip side, high costs associated with the maintenance and placement of vascular access devices and instances of product recalls and failures are some of the factors constraining the growth of the Global Transradial Access Devices Market.Request Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/6061 Market SegmentationThe Global Transradial Access Devices Market segmentation is classified into application, disease area, product, and end-user.By product, the market includes guidewires, catheters, sheath and sheath introducers, accessories, and others.
The catheters segment is narrowed down into specialty catheters, urinary catheters, cardiovascular catheters, into intravenous catheters, neurological catheters.
