Methodology of Study
To validate the size of the worldwide transradial access market and estimate the size of various dependent submarkets, top-down and bottom-up methodologies were used. Secondary sources include the World Health Organization (WHO), the Central Intelligence Agency (CIA), the Centers for Disease Control and Prevention (CDC), the European Renal Care Providers Association (ERCPA), the Society for Cardiovascular Angiography and Interventions (SCAI), the American Heart Association (AHA), the Canadian Association of Interventional Cardiology (CAIC), the Asian Pacific Society of Interventional Cardiology (APSIC), the American College of Cardiology, directories, and industry journals.To acquire and validate information as well as assess market dynamics, primary sources such as specialists from both the supply and demand sides were contacted.
[Report of 142 pages] The global transradial access market is expected to grow at a CAGR of 7.5 percent to USD 2.18 billion by 2022, up from USD 1.44 billion in 2016. The report’s base year is 2016, and the projected term is 2017–2022.
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The transradial access market is expected to grow at a CAGR of 7.5 percent from USD 1.52 billion in 2017 to USD 2.18 billion in 2022. The market is expected to be driven by factors such as rising obesity rates, a growing preference for interventional procedures using radial artery access, technological advancements, rising prevalence of lifestyle diseases, and an increase in the number of chemotherapy procedures performed globally.
Catheters, guidewires, sheaths and sheath introducers, and accessories make up the transradial access market by product (needles and cannulas). Because of factors such as the rising incidence of lifestyle-related disorders such as CVD, obesity, and diabetes, as well as the growing number of interventional and angiography operations, the catheter market is predicted to develop at the fastest rate.
The transradial access market is divided into four categories based on application: drug administration, fluid and nutrition administration, blood transfusion, and diagnostics and testing. Due to factors such as the widespread use of radial access devices for medication administration in the treatment of infections and cancer, the drug administration industry is expected to develop at the fastest rate.
The market for transradial access is divided into hospitals, clinics, and ambulatory care centres, as well as other end users (nursing homes, laboratories, diagnostic & imaging centers, and Home Healthcare agencies). Because of the enormous number of transradial procedures conducted in hospital settings, the hospitals category is predicted to increase at the fastest rate.
The transradial access market is divided into four regions: North America, Europe, Asia Pacific, and Rest of the World. Because of reasons such as rising CVD incidence, increasing number of conferences and workshops, large number of cancer patients, and increased research and clinical trials for vascular access devices, the North American market is expected to develop at the fastest rate.
The market’s growth is expected to be limited to some extent by factors such as a scarcity of qualified personnel and the hazards connected with radial access devices.
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Key Market Players
The prominent players in the Transradial Access Market include Becton, Dickinson and Company (US) and Terumo Corporation (Japan), Teleflex Incorporated (US), Smiths Group Plc (UK), Edward Lifesciences Corporation (US), Medtronic (Ireland), Merit Medical System, Inc. (US), Boston Scientific (US), NIPRO Medical Corporation (US), AngioDynamics (US), Ameco Medical Industries (Egypt), and OSCOR Inc. (US).