Global Transradial Access Devices Market Size - Forecasted to Reach $24.1 Billion by 2023by Nishtha Vohra Market Research Analyst
The cost-benefit associated with transradial artery access, increasing preference of radial artery access for interventional procedures, increasing prevalence of chronic diseases, increasing number of chemotherapy procedures, growing use of radial access devices in geriatric as well as high risk patients, and rising healthcare expenditure are the key factors driving the growth of the transradial access market.
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On the basis of product, the transradial access devices market has been categorized into catheters, guidewires, sheaths and sheath introducers, and accessories. Of these, the fastest growth during the forecast period is expected from catheters, with 9.0% CAGR. This is mainly attributed to the adoption of miniaturized diagnostic catheters such as 4F and 5F catheters.
Among all applications of transradial access devices, drug administration is expected to be the fastest growing category, with CAGR of 8.9% during the forecast period. This can be attributed to the increased use of vascular access devices over others. On the basis of end user, hospitals have been the dominant category, with a share of 76.4% in 2017. This can be ascribed to the large patient base being treated with transradial access approach and the increasing number of procedures being conducted in cath labs in hospitals.
The players in the transradial access devices market are launching new and innovative products and receiving regulatory approvals for their products to enhance their product portfolio. For instance, in March 2017, Teleflex Incorporated announced the 510(k) clearances by the USFDA of the Twin-Pass Torque Dual Access Catheter and Spectre Guidewire.
Some of the key players operating in the transradial access devices industry include Terumo Corporation; Becton, Dickinson and Company; Medtronic plc; Smiths Group plc; Edwards Lifesciences Corporation; AngioDynamics Inc.; and Merit Medical Systems Inc.
Created on May 14th 2018 06:39. Viewed 258 times.
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