Transradial Access Devices Market Opportunity Assessment Study

The market is experiencing growth due to the increasing prevalence of chronic diseases, preference of radial artery for interventional procedures, and use of these devices in high-risk as well as geriatric patients. Such devices are used for endovascular procedures, involving catheterization or intervention in the radial artery, for the diagnosis and treatment of diseases such as peripheral artery disease and coronary heart disease.

A trend of increasing focus on the development of robot-assisted catheter systems for the treatment of various diseases is emerging in the transradial access devices market. For instance, Corindus Vascular Robotics Inc., in January 2016, installed its first CorPath System and launched the CorPath robotic-assisted coronary intervention program at Massachusetts General Hospital. The system provides protection to both, patients and medical practitioners, from radiation exposure during percutaneous coronary interventions. Similarly, in October 2014, Hansen Medical Inc. unveiled the Sensei X2 robotic system in Europe and the U.S., which serves as a navigation system during electrophysiology procedures in the heart atria that involve robotic catheters.

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The prevalence of chronic diseases, such as diabetes, chronic kidney diseases, stroke, and cardiovascular diseases, is only increasing. The American Heart Association (AHA) published a report in 2015 that mentioned that the primary global cause of death is heart diseases, with 17.3 million deaths occurring because of these each year. The most common diseases are peripheral artery disease and coronary artery disease, which need transradial access intervention. Other chronic conditions such as neurological diseases and chronic kidney disorder also utilize such procedures, thereby driving the transradial access devices market forward.

The transradial access devices market is segmented by geography, application, end user, and product. The end user segment is categorized into clinical and ambulatory centers, hospitals, and others. In 2017, the hospital category generated the highest revenue and it is expected to be the fastest-growing category during the forecast period. The various application areas of transradial access devices include fluid and nutrition administration, drug administration, diagnostics and testing, and blood transfusion. Among these, drug administration contributed more than 45.0% revenue to the market in 2017.

This is because vascular access devices are increasingly being used for drug administration to treat several types of infections and cancer. The wide acceptance of transradial intervention for percutaneous coronary interventions in Europe has made Europe the largest contributor to the transradial access devices market. The continent contributed over 40.0% of the total global revenue to the market in 2017. Another contributing factor to this is the establishment of same-day discharge cath labs in Europe that have helped in making transradial access devices popular.

Therefore, the market is expected to witness a boom as such devices help patients recover faster.

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Created on Feb 25th 2020 03:25. Viewed 212 times.

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