$24 Billion Transradial Access Devices Market - Global Forecast to 2023

8/29/2018, 11:18 AM (Source: GlobeNewswire)

Dublin, Aug. 29, 2018 (GLOBE NEWSWIRE) -- The "Transradial Access Devices Market by Product, by Application, by End User, by Geography - Global Market Size, Share, Development, Growth, and Demand Forecast, 2013 - 2023" report has been added to ResearchAndMarkets.com's offering.

Global transradial access devices market size is forecasted to reach $24.1 billion by 2023

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.

Insights into market segments

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.

U.S. to exhibit fastest growth with 11.8% CAGR

The U.S., Japan, and Canada are the top three developed countries that are expected to lead the global transradial access devices market in terms of growth during the forecast period. On the other hand, among developing countries, China and India are expected to show robust growth in demand for these devices in the coming years. The growing healthcare infrastructure and increasing awareness among healthcare providers regarding advanced medical devices is fueling the growth of the market in these developing economies.

Major players launching innovative products to gain a larger market share

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. The Twin-Pass Torque Dual Access Catheter was commercially launched in the U.S. and other countries, whereas Spectre Guidewire was commercially launched in the U.S.

Furthermore, in May 2016, Boston Scientific Corporation received the USFDA approval of navigation-enabled ablation catheters, IntellaNav XP and IntellaNav MiFi XP, for the treatment of type I atrial flutter.

Similarly, in February 2016, Nipro North America announced the launch of Cronus HP high-pressure, 0.035" over-the-wire percutaneous transluminal angioplasty (PTA) balloon catheter. The catheter was MEA nt for PTA through femoral, iliac, popliteal, and renal arteries, for the treatment of obstructive lesions in arteriovenous dialysis fistulae.

Key Topics Covered:

Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Key Stakeholders

Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions For The Study

Chapter 3. Executive Summary
3.1 Voice Of Industry Experts/Kols

Chapter 4. Introduction
4.1 Definition Of Market Segments
4.1.1 By Product Catheters Guidewires Sheaths And Sheath Introducers Accessories (Needles And Cannulas)
4.1.2 By Application Drug Administration Fluid And Nutrition Administration Blood Transfusion Procedures Diagnostics And Testing
4.1.3 By End User Hospitals Clinics And Ambulatory Care Centers (Accs) Others
4.2 Market Dynamics
4.2.1 Trends Collaborations With Medical Device Reprocessing Players Increasing Focus On Development Of Robotic-Assisted Catheter Systems Growing Focus Of Market Players On Emerging Economies
4.2.2 Drivers 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 Rising Healthcare Expenditure Impact Analysis Of Drivers On Market Forecast
4.2.3 Restraints Dearth Of Highly Skilled Professionals Product Recalls And Failures Impact Analysis Of Restraints On Market Forecast
4.2.4 Opportunities Technological Advancements In Transradial Access Devices Increasing Acquisition And Collaboration Between Players
4.3 Porter's Five Forces Analysis

Chapter 5. Global Market Size And Forecast
5.1 By Product
5.2 By Application
5.3 By End User
5.4 By Region

Chapter 6. Europe Market Size And Forecast

Chapter 7. APAC Market Size And Forecast

Chapter 8. North America Market Size And Forecast

Chapter 9. Latin America (Latam) Market Size And Forecast

Chapter 10. MEA Market Size And Forecast

Chapter 11. Competitive Landscape
11.1 Product Benchmarking Of Key Players
11.2 Global Strategic Developments Of Key Players

Chapter 12. Company Profiles

  • Terumo Corporation
  • Becton, Dickinson And Company
  • Medtronic Plc
  • Smith Group Plc
  • Edwards Lifesciences Corporation
  • Angiodynamics Inc.
  • Merit Medical Systems Inc.
  • Teleflex Incorporated
  • Nipro Corporation
  • Boston Scientific Corporation

For more information about this report visit https://www.researchandmarkets.com/research/l9m356/24_billion?w=12

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Related Topics: Surgical Devices 

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