Report : Transradial Access Market to 2027 - Global Analysis and Forecasts By Product (Catheters, Guidewire, Sheath and Sheath Introducer and Accessories); Application (Drug Administration, Diagnostics and Testing, Fluid and Nutrition Administration and Blood Transfusion); End User (Hospitals and Clinics, Ambulatory Surgical Centers and Others) and Geography
According to The Insight Partners market research study titled ‘Transradial Access Market to 2027 – Global Analysis and Forecasts by Product, Application and End User.’ The Global Transradial Access Market is expected to reach US$ 2,961.79 Mn in 2027 from US$ 1,574.97 Mn in 2018. The market is estimated to grow with a CAGR of 7.7% from 2019-2027. The report highlights the trends prevalent in the global transradial access market and the factors driving the market along with those that act as deterrents to its growth.
Global transradial access market, based on the product, was segmented as, catheter, guidewire, sheaths & sheath introducers, and accessories. In 2018, the catheter segment held a largest market share of 49.5% of the transradial access market, by product. This segment is also expected to dominate the market in 2027 owing to patients’ preference for catheters for surgeries. Moreover, increasing incidences of cardiac diseases, cancer, and rising number of interventional and angiography procedures are expected to fuel the demand of catheters. Furthermore, catheters minimize the complication rates and help in faster recovery leading to increased adoption in surgical procedures.
The market for transradial access is expected to grow, owing to factors such as rising inclination for interventional procedures using radial artery access, increasing prevalence of obesity & lifestyle diseases and growing use of radial access devices in pediatric patients. However, factors such as product recalls & failures and high costs of vascular access devices are likely to adversely impact the growth of the market in the forecast period.
The major players operating in the transradial access market include BD, Terumo Corporation, Teleflex Incorporated, Medtronic, Smiths Medical, Ameco Medical, Edward Lifesciences Corporation, Merit Medical Systems, Boston Scientific Corporation, and Nipro Medical Corporation. The market has witnessed various organic as well as inorganic developments during recent years in the transradial access market. During December 2017, Becton, Dickinson & Company completed acquisition of C.R. Bard, Inc. The strong portfolio of Bard and recent innovative pipeline will grow the BD’s opportunities in rising clinical areas, and will enhance the non-US markets for combined company.
The report segments the global transradial access market as follows:
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