Transradial Access Market Size, Major Strategies, Key Companies, Revenue Share Analysis, 2023–2032
The research report provides an in-depth evaluation of the Global Transradial Access market drivers and restraints Market and helps the market participants intensify their footprints in the industry. The report gives a detailed analysis concentrated on the critical market dynamics such as drivers, restraints, trends, and growth opportunities to assist businesses to prepare for any challenges they might encounter in the forecast period.
The report is updated with the impact of the COVID-19 pandemic on the Transradial Access market. Every industry vertical across the globe has been affected by the pandemic, and the report assesses if the impact of the pandemic on the Transradial Access market has been positive or negative.
The global Transradial Access market size was USD 2.00 Billion in 2022 and is expected to register a revenue CAGR of 7.4% during the forecast period. Transradial Access (TRA) is the recommended method for coronary angiography and Percutaneous Coronary Intervention (PCI) as it has a lower risk of bleeding and vascular problems than Transfemoral Access (TFA), increases patient satisfaction, and lowers patient mortality.
The increasing prevalence of coronary artery diseases and cardiovascular diseases, growing prevalence of obesity, and rising adoption of interventional procedures are some of the key factors driving the market revenue growth. In addition, increasing product launches and initiations by leading companies and rising prevalence of lifestyle diseases are contributing significantly to revenue growth of the market.
However, there are some restraints for revenue growth of the global Transradial Access Market. High cost of Transradial Access and product recalls are restraining the market revenue growth. The expertise required by the technique, the growing trend of a product recall, and the risk of failure are the major challenges to the growth of the market. The lack of healthcare facilities in underdeveloped regions has created an opportunity for key players to enter the untapped market.
The North America market accounted for the largest revenue share than other regional markets in the global transradial access market in 2022. The region has established itself as the market leader with a significant market share. A large number of individuals in the region suffer from obesity and diabetes. Because of the obesity epidemic in the United States, a growing proportion of patients have panniculus, which impedes TFA access. Obesity requires inventive patient placement to expose the femoral crease, mandates interventionalist access to atypically deep femoral arteries, and raises the risk of post-procedure bleeding and access site infection. Given that the wrist has less fat than the femoral artery accessing the radial artery in obese individuals overcomes several difficulties. Increasing healthcare expenditures and rising alcohol and cigarette consumption in the region also contribute to the expansion of the industry.
On the basis of end-use, the global transradial access market is segmented into hospitals and clinics, ambulatory surgical centers, and others. The hospitals and clinics segment accounted for the largest revenue in 2022 owing to the high prevalence of highly qualified healthcare professionals, and staff as well as the high percentage of diagnostics tests performed in hospitals and clinics, which is driving the segment revenue growth. Availability of long-term care facilities, as well as continuous patient monitoring, are two major factors driving revenue growth of this segment. The hospitals segment provides several diagnostics tests such as blood tests, Computed Tomography (CT) scans, capsule endoscopy, Magnetic Resonance Imaging (MRI), ultrasound, and other imaging services. As a result, it contributes significantly to revenue growth of this segment.
According to the World Health Organization (WHO), obesity incidences have tripled since 1975 across the globe. Over 650 million adults aged 18 years and above were found obese around the globe. Adoption of a desk-bound lifestyle, consumption of junk food, and physical inactivity are also adding to the patient pool. Also, the consumption of alcohol and tobacco products leads to heart-related problems. The rising cases of arterial disorders such as atherosclerosis are expected to be the major driver of the market. Obese patients are more prone to diseases. The increase in obesity and the diabetic population has boosted the growth of the market.
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The report further divides the Transradial Access market into key segments such as types, applications, end-user industries, technologies, and key regions of the market. The report also sheds light on the segment and region exhibiting promising growth in the Transradial Access market.
Transradial Access Market Segmentation:
- Product Outlook (Revenue, USD Billion; 2019-2032)
- Catheters
- Guidewires
- Sheaths & Sheath Introducers
- Accessories
- Application Outlook (Revenue, USD Billion; 2019-2032)
- Fluid and nutrition administration
- Drug administration
- Blood transfusion
- Diagnostics and testing
- End-Use Outlook (Revenue, USD Billion; 2019-2032)
- Hospitals and clinics
- Ambulatory surgical centers
- Others
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The report also studies the key companies of the Transradial Access market along with analysis of their business strategies, M&A activities, investment plans, product portfolio, financial standing, gross profit margin, and production and manufacturing capacities. Some players analyzed in the report are:
Key companies operating in the Transradial Access market include:
Terumo Corporation, Medtronic, Edwards Lifesciences Corporation., Nipro Medical Corporation, Boston Scientific Corporation, AngioDynamics., Teleflex Incorporated., Penumbra, Inc., Hollister Incorporated, Abbott
The Global Transradial Access Report is a panoramic study of the overall Transradial Access market published by Emergen Research and covers a wide-ranging analysis of the technological advancements and product developments in the Transradial Access market. The report provides a detailed analysis of the key factors of the Transradial Access market that are expected to have a positive impact on the growth of the Transradial Access industry.
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Regional Segmentation
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report further examines the market in the key regions of the world with regard to production and consumption patterns, import/export, supply and demand ratio, revenue generation, market share and size, and presence of prominent players in the regions. The report also covers the expansion plans undertaken by companies in the regions under the regional analysis section.
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