Transradial Access Devices Market by Application and Geography - Forecast and Analysis 2022-2026

The transradial access devices market share is expected to increase by USD 927.10 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.69%.

This transradial access devices market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers transradial access devices market segmentation by application (drug administration, fluid and nutrition administration, diagnostics and testing, and blood transfusion) and geography (North America, Europe, Asia, and ROW). The transradial access devices market report also offers information on several market vendors, including AngioDynamics Inc., Becton Dickinson and Co., Boston Scientific Corp., Edwards Lifesciences Corp., Medtronic Plc, Merit Medical Systems Inc., Nipro Medical Corp., OSCOR Inc., Teleflex Inc., and Terumo Medical Corp among others.

What will the Transradial Access Devices Market Size be During the Forecast Period?

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"The high demand for advanced medical technologies, increasing public and private healthcare expenditure, and the growing prevalence of CAD drive market growth in Canada. CADs account for the largest number of deaths among both men and women in Canada. Every year, there are approximately 35 million visits to a physician for the management of cardiovascular diseases (CVDs) in Canada. This will lead to an increase in the demand for coronary angiography, which, in turn, will drive market growth."

Transradial Access Devices Market: Key Drivers and Trends

The increasing number of percutaneous coronary intervention (PCI) procedures is notably driving the transradial access devices market growth, although factors such as lack of skilled interventional cardiologists may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the transradial access devices industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Transradial Access Devices Market Driver

The increase in the number of percutaneous coronary intervention (PCI) procedures is one of the key drivers for the transradial access devices market growth. Percutaneous coronary invertion is a non-surgical procedure that relieves the occlusion of the coronary artery to improve the blood supply to the heart. The transradial access is the most preferred procedure for coronary angiography and PCI. As per the latest data, it is indicated that PCI should be offered to all eligible patients to prioritize patient outcomes. Therefore, the growing number of PCI procedures performed is expected to drive the transradial access devices market growth during the forecast period.

Key Transradial Access Devices Market Challenge

One of the major key challenges for the transradial access devices market growth is the lack of skilled interventional cardiologists. The results obtained from the percutaneous coronary intervention procedure depend greatly on the skills of the interventional cardiologists. Moreover, there is a shortage of cardiologists due to students not opting for cardiology specialties, limiting the concentration of cardiologists in metropolitan areas across the globe. This is further resulting in the shortage of attendance in rural areas. Hence, the shortage of trained professionals is expected to hinder the market growth of transradial access devices during the forecast period.

This transradial access devices market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Market Overview

The parent, global healthcare equipment market covers products and companies engaged in research and development (R&D) of a variety of product categories, including capital equipment, instruments, implants, accessories, and consumables that are used for the diagnosis, monitoring, and treatment of various diseases. Technavio calculates the global healthcare equipment market size based on combined revenue generated by manufacturers of various diagnostic equipment and devices used across the therapy areas. 

Who are the Major Transradial Access Devices Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• AngioDynamics Inc.
• Becton Dickinson and Co.
• Boston Scientific Corp.
• Edwards Lifesciences Corp.
• Medtronic Plc
• Merit Medical Systems Inc.
• Nipro Medical Corp.
• OSCOR Inc.
• Teleflex Inc.
• Terumo Medical Corp

 

This statistical study of the transradial access devices market encompasses successful business strategies deployed by the key vendors. The transradial access devices market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The transradial access devices market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Transradial Access Devices Market?

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41% of the market's growth will originate from North America during the forecast period. The US is the key market for transradial access devices market in North America. Market growth in this region will be slower than the growth of the market in Asia.

The high frequency of coronary artery disease will facilitate the transradial access devices market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Application Segments in the Transradial Access Devices Market?

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The transradial access devices market share growth by the drug administration segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the transradial access devices market size and actionable market insights on post COVID-19 impact on each segment.

 

Transradial Access Devices Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 7.69%
Market growth 2022-2026	$ 927.10 million
Market structure	Fragmented
YoY growth (%)	7.00
Regional analysis	North America, Europe, Asia, and ROW
Performing market contribution	North America at 41%
Key consumer countries	US, Germany, UK, China, and Japan
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	AngioDynamics Inc., Becton Dickinson and Co., Boston Scientific Corp., Edwards Lifesciences Corp., Medtronic Plc, Merit Medical Systems Inc., Nipro Medical Corp., OSCOR Inc., Teleflex Inc., and Terumo Medical Corp
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Transradial Access Devices Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive transradial access devices market growth during the next five years
• Precise estimation of the transradial access devices market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the transradial access devices industry across North America, Europe, Asia, and ROW
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of transradial access devices market vendors

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