“The transradial access devices market is estimated to grow at a CAGR of 7.5% during the forecast period”
The global transradial access devices market is expected to grow at a CAGR of 7.5% to reach to USD 2.18 billion by 2022 from an estimated USD 1.52 billion in 2017. The driving factors of this market are rising prevalence of obesity, increasing preference for interventional procedures using radial artery access, growing utilization of radial access devices in treating pediatric patients, and prevalence of lifestyle diseases.
“The catheter segment is expected to grow at the highest rate during the forecast period.”
By product, the transradial access devices market is segmented into catheters, guidewires, sheaths and sheath introducers, and accessories (needles and cannulas). Catheters accounted for the largest share of the transradial access devices market in 2017 and this segment is also expected to grow at the highest rate during the forecast period. Factors driving the growth of this segment are the increasing incidence of lifestyle-related diseases such as CVD, obesity, and diabetes and the rising number of interventional and angiography procedures worldwide.
“By applications, the drug administration segment is projected to be the highest growth rate in the next five years.”
Transradial access devices market is segmented into drug administration, fluid and nutrition administration, blood transfusion, and diagnostics & testing. Of all these application segments, the drug administration segment commanded the largest share of the transradial access devices market in 2017.
The large share of this segment can be attributed to the high usage of vascular access devices for drug administration, predominantly for the treatment of cancer and infections.
“The hospitals segment is expected to grow at the highest CAGR during the study period.”
On the basis of end users the transradial access devices market is categorized into hospitals, clinics and ambulatory care centers, and other end users (nursing homes, laboratories, diagnostic & imaging centers, and home healthcare agencies). The hospitals segment is expected to grow at the highest CAGR during the forecast period.
“North America is projected to grow at the highest CAGR during the forecast period.”
Transradial access devices market is divided into four major regions? North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to register the highest CAGR during the forecast period. The key driving factors for the growth of this regional segment are the growing prevalence of CVDs, increasing number of cancer patients and, increase in research and clinical trials for vascular access devices.
Break of primary participants was as mentioned below:
- By Company Type – Tier 1: 56%, Tier 2: 35%, and Tier 3: 9%
- By Designation – C-level: 27%, Director Level: 15%, Others: 58%
- By Region – North America: 37%, Europe: 23%, Asia Pacific: 25%, RoW: 15%
Becton, Dickinson and Company (US) and Terumo Corporation (Japan) dominated the transradial access devices market in 2017.
The report analyzes the market and aims at estimating the market size and the future growth potential of this market based on various segments such as product, application, end user, and region. The report also includes an in-depth regulatory analysis for various regions across the globe and competitive landscape of the key players in this market along with their company profiles, product offerings, recent developments, and key market strategies.
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