Transradial Access Devices Market Size and Trends

The transradial access devices market size is forecast to increase by USD 803.3 million at a CAGR of 6.8% between 2023 and 2028. Transradial access devices have gained significant traction in the US healthcare market due to the increasing number of cardiovascular diseases (CVDs) and the subsequent rise in percutaneous coronary intervention (PCI) procedures. The advanced medical technologies used in these devices offer several advantages over traditional radial and femoral access methods, making them a preferred choice for hospitals and healthcare providers. The market is driven by government initiatives aimed at increasing awareness of CVDs and providing affordable treatment options. However, the lack of skilled interventional cardiologists poses a challenge to the widespread adoption of transradial access devices. This trend is expected to continue as the demand for minimally invasive procedures and improved patient outcomes increases.

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Transradial access devices have emerged as a significant trend in advanced medical technologies for cardiovascular diseases. These devices enable interventions through the radial artery in the wrist instead of the traditional femoral approach in the groin. This shift towards transradial access is driven by the growing number of hospitalizations and diagnostic procedures for cardiovascular conditions. Cardiovascular diseases remain a leading cause of morbidity and mortality in the US. Hospitals and healthcare providers are increasingly adopting transradial access devices to improve patient comfort and reduce complications associated with traditional catheterization procedures. Interventional cardiology procedures such as angioplasty and stent placement can now be performed using transradial access, leading to better patient outcomes. Diagnostic angiography and peripheral vascular interventions are other areas where transradial access devices have gained popularity. The minimally invasive nature of these procedures aligns well with the trend towards outpatient care and ambulatory care centers. Training programs for healthcare professionals are also being developed to increase the adoption and proficiency in using transradial access devices.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

• Application
  • Drug administration
  • Fluid and nutrition administration
  • Diagnostics and testing
  • Blood transfusion
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
  • Asia
    • China
    • Japan
  • Rest of World (ROW)

By Application Insights

The drug administration segment is estimated to witness significant growth during the forecast period. Transradial access devices have gained significant popularity among cardiovascular disease patients undergoing percutaneous coronary procedures in hospitals and healthcare facilities worldwide. The shift from the traditional transfemoral approach to the transradial approach has been driven by advancements in medical technologies and the increasing preference for minimally invasive procedures.

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The drug administration segment was the largest segment and was valued at USD 689.90 million in 2018. However, the use of transradial access devices is not without challenges. Radial artery spasm (RAS), which can lead to procedural failures, is a common issue with the transradial approach. The reported incidence of RAS ranges from 5% to 30%. Predisposing factors for RAS include younger age, female gender, diabetes, smaller wrist circumference, and lower body weight.  Hence, such factors are fuelling the growth of this segment during the forecast period.

Regional Analysis

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North America is estimated to contribute 47% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In North America, the market is experiencing notable expansion during the forecast period. In 2023, North America held the largest market share in the global market. The US is the primary revenue generator for this market in the region, attributed to the substantial prevalence of coronary artery disease (CAD) and heightened awareness of advanced transradial access devices.

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Transradial Access Devices Market Driver

Increasing number of percutaneous coronary intervention (PCI) procedures is notably driving the market growth. To address this issue, interventional cardiologists frequently perform Percutaneous Coronary Interventions (PCI), a non-surgical procedure aimed at enhancing blood flow to the heart by addressing coronary artery narrowing or blockages. PCI procedures are increasingly common, with over 500,000 performed annually in the US. These procedures are crucial for managing CAD, the most prevalent form of heart disease. Hospitals and clinics, including ambulatory care centers, are the primary settings for PCI procedures.

The use of Transradial Access Devices (TRADs) has gained popularity in recent years due to their benefits, such as reduced complications, shorter hospital stays, and improved patient outcomes. TRADs facilitate drug administration and diagnostics and testing during the procedure, thanks to their hydrophilic coatings. The interventional cardiology community's focus on optimizing PCI procedures continues to grow, making it essential to analyze and enhance TRADs' performance.  Thus, such factors are driving the growth of the market during the forecast period.

Transradial Access Devices Market Trends

Government initiatives for increasing awareness of CADs and providing affordable treatment is the key trend in the market. In the healthcare industry, Transradial Access Devices (TRADs) have gained significant traction due to their advantages in minimally invasive procedures. TRADs are used for various applications such as fluid administration, nutrition administration, blood transfusion, and diagnostics.

Accessories for TRADs include sheaths, guidewires, and catheters, which facilitate smooth insertion and removal of the device. Governmental and non-profit organizations in the US, like the National Heart, Lung, and Blood Institute (NHLBI) and the National Institutes of Health (NIH), are dedicated to increasing awareness about cardiovascular diseases (CADs) and other heart conditions. Initiatives like The Heart Truth, spearheaded by the NHLBI, aim to educate women about the risks of heart diseases and promote heart health. Thus, such trends will shape the growth of the market during the forecast period.

Transradial Access Devices Market Challenge

Lack of skilled interventional cardiologists is the major challenge that affects the growth of the market. The demand for angiography procedures, a key application of medical devices in the field of cardiology, is on the rise due to the increasing prevalence of cardiovascular diseases (CVDs) worldwide. The shortage of skilled cardiologists, including interventional cardiologists, electrophysiologists, pediatric cardiologists, and general cardiologists, is a major challenge in delivering optimal healthcare services, especially in the context of outpatient care. This shortage is attributed to various factors such as the aging workforce, limited growth in the number of fellowship positions, and evolving healthcare reforms.

Transradial access devices, including sheaths and sheath introducers, are gaining popularity as they offer several advantages over traditional radial access, such as reduced complications, shorter hospital stays, and improved patient outcomes. Medical technology companies, such as Angiography, Medical devices, Outpatient care, and Medical technology, are investing significantly in the development and commercialization of these devices to meet the growing demand for minimally invasive procedures. Hence, the above factors will impede the growth of the market during the forecast period

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

AngioDynamics Inc: The company offers transradial access devices such as coaxial and tearaway micropuncture kits.

The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Abbott Laboratories
• Becton Dickinson and Co.
• BIOTRONIK SE and Co. KG
• Boston Scientific Corp.
• Cordis Corp.
• Edwards Lifesciences Corp.
• Integer Holdings Corp.
• Medtronic Plc
• Merit Medical Systems Inc.
• Newtech Medical Devices
• Nipro Corp.
• OSCOR Inc.
• QApel Medical Inc.
• Surmodics Inc.
• Teleflex Inc.
• Terumo Medical Corp.
• Toray Industries Inc.
• TZ Medical

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Analyst Overview

Transradial access devices have gained significant attention in the cardiovascular industry due to their numerous benefits in interventional cardiology procedures. These devices provide an alternative to traditional transfemoral access, reducing complications and enhancing patient comfort. The rising prevalence of cardiovascular diseases, such as angioplasty and stent placement, diagnostic angiography, and peripheral vascular interventions, necessitates the use of advanced medical technologies like transradial access devices in hospitals and healthcare providers' settings. Patient comfort is a crucial factor in the adoption of these devices. Transradial access offers minimal pain, quicker recovery, and lower risk of bleeding compared to transfemoral access. The clinical applications of transradial access devices extend to interventional cardiology procedures, including angioplasty, stent placement, and diagnostic angiography. The market for transradial access devices is witnessing significant growth due to the increasing demand for minimally invasive surgeries, robotics, artificial intelligence, telemedicine, and outpatient care. Training programs for healthcare professionals and the availability of accessories, such as sheaths, sheath introducers, hydrophilic coatings, and fluid administration systems, further enhance the clinical utility of these devices.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market  and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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