USD 1.95 billion
Transradial Access Devices Market Size, Share, Growth Analysis, By Product (Catheters, Guidewires), By End-use (Hospitals, Clinics & Ambulatory Care Centers), By Application (Drug Administration, Fluid and Nutrition Administration), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG35H2302 |
Region:
Global |
Published Date: November, 2024
Pages:
159
|Tables:
93
|Figures:
68
Transradial Access Devices Market Insights
Transradial Access Devices Market size was valued at USD 2.11 Billion in 2023 and is poised to grow from USD 2.27 Billion in 2024 to USD 4.15 Billion by 2032, growing at a CAGR of 7.81% during the forecast period (2025-2032).
Increasing adoption of transradial access techniques by healthcare providers is expected to contribute significantly to the growth of the market. With several key factors such as increasing prevalence of cardiac arrest, technological advancement in cardiac arrest resulting from increased demand for intervention and minimally invasive surgery.
The increasing incidence of cardiovascular diseases across the globe is a major driver of the market. According to the World Health Organization (WHO), cardiovascular diseases are the leading cause of death worldwide, with an estimated 17.9 million deaths per year in 2021. Approximately 695,000 people died from cardiovascular disease in the U.S.
Advances in interventional cardiology have led to the development of new devices that have improved safety, efficacy, and patient outcomes e.g., the introduction of hydrophilic coatings on sheaths to reduce friction time inserting radial artery cannulation, increases procedural success rates. The shift towards minimally invasive therapies in various medical specialties is fueling the demand. Patients prefer minimally invasive surgery due to shorter hospital stay, faster recovery time and lower risk of complications compared to conventional open surgery. This trend has a positive impact on the techniques and devices for transradial access in clinical practice. In September 2023, for example, Microvention, a tissue manufacturer, and Terumo Corp. launched a joint venture partially, announced that its Sophia EX 5-F, 115-cm intracranial support catheter. This expanded range allows healthcare professionals to use the Sophia EX 5-F catheter in a wide variety of modalities, providing greater flexibility and versatility in patient treatment.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Catheters
Fastest Growth
Drug Administration
Growth Rate
7.81%
Global Transradial Access Devices Market $ Bn)
Country Share for Asia Pacific Region (%)
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Transradial Access Devices Market Segmental Analysis
Global Transradial Access Devices Market is segmented by Product, End-use, Application, and Region. Based on Product, the market is segmented into Catheters, Guidewires, Sheath & Sheat Introducers, Others. Based on End-use, the market is segmented into Hospitals, Clinics & Ambulatory Care Centers, Others. Based on Application, the market is segmented into Drug Administration, Fluid and Nutrition Administration, Blood Transfusion, Diagnostics and Testing. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Product
The catheters segment accounted for the largest market share at 33.6% in 2023. Increasing incidence of cardiovascular diseases and demand for less invasive procedures drives growth in transradial access devices market. This is driven by advances in catheter design and materials, transradial for angiography and angioplasty. For example, in July 2023, ALVIMEDICA obtained CE Mark approval and launched the Alvision Kaplan curves radial portfolio for diagnostic procedures, in a safe transradial approach with advanced catheter design for robustness and patient outcomes.
The guidewires segment is expected to grow significantly during the forecast period. Guide catheters are designed to connect intravenously to a wound or tissue fragment and act as guides to larger catheters to allow faster follow-up and faster drug delivery to the treatment area. For example, Terumo offers guide catheter accessories many types offer, including GLIDEWIRE Hydrophilic Coated Guidewire line and Radifocus Guide Wire M, developed transradial access procedures. Their guidewire products feature additional design elements including a water coating, nitinol core and radiopack jacket to provide excellent lubrication, flexibility and visibility.
Analysis by End-Use
The hospital segment accounted for the largest market share at 40.4% in 2023. Increasing incidence of cardiac diseases and demand for less invasive procedures are driving hospitals towards more transradial devices. Advantages such as low complications, shorter hospital stays and faster recovery times with these procedures encourage adoption. It is attributed to the availability of advanced medical facilities and a better reimbursement system for operations performed in hospitals. For example, in October 2022, health insurer EmblemHealth introduced a new in-patient reimbursement system, and commissioned portable devices for transradial access devices used in hospital settings further encouraged and contributed to the rapid expansion of this market segment.
The clinics & ambulatory care centers segment is expected to post the fastest CAGR during the forecast period. According to Cath Lab Digest, the Society for Cardiovascular Andiography and Interventions (SCAI), and the Transradial Intervention Program (TRIP), it provides not only physician education, but professional education focused on appropriate ambulatory planning and peri-procedural care. A research study published in SCAI in May 2024 found that radial artery access is the best semoral access for percutaneous coronary interventions, with low complications. Radial access uptake increased remarkably, up from 20.3% in 2013 to a staggering 57.5% in 2022.
Global Transradial Access Devices Market By Product (%)
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Transradial Access Devices Market Regional Insights
Asia-Pacific region in the transradial access devices market dominated the market with revenue share of 25.4% in 2023. This region is fueled by huge patient population with cardiovascular diseases, advancements in healthcare, increasing awareness of regarding radial artery access and other products emerging as an attractive market. Rapid market expansion in countries such as China, India and Japan, driven by increased awareness of less invasive procedures among patients and healthcare professionals. Asia-Pacific region in the market is also available for medical device manufacturers availability and affordability increase in this region.
North America region in the market is expected to follow the fastest CAGR of 8.3% during the forecast period. U.S. dominates the North America region in the market owing to increasing incidence of cardiovascular diseases, improved healthcare, and increasing preference for less invasive procedures which drives the rise of market due to the movement of medical technologies. The demand for ventilatory devices in North America is also driven by an aging population and the benefits of long-range access techniques in reducing complications and patient outcomes. North America region in the market is witnessing rapid growth, driven by rising product approvals.
Global Transradial Access Devices Market By Geography
- Largest
- Fastest
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Transradial Access Devices Market Dynamics
Drivers
Increasing Demand for Minimally Invasive Treatment
- The transradial access technique is rapidly gaining popularity due to its minimal invasive nature, allowing surgeons to access the radial artery of the wrist for a variety of cardiac interventions. Unlike femoral approach, the transradial access presents fewer complications such as bleeding and faster operative time. This not only increases patient comfort, but also shortens hospital stays, reducing overall healthcare costs. With the increasing focus of healthcare systems across the world on cost-effective treatment, the demand for ventilator devices is on the rise.
Increasing Incidence of Cardiovascular Diseases
- Global cardiovascular diseases are the leading cause of death, as conditions such as coronary artery disease, heart attack and stroke are more common. These diseases often require diagnostics, such as angioplasty and stent placement, which can be transradial access. Deprivation and other unhealthy lifestyle habits contribute to the increased burden of cardiovascular diseases.
Restraints
Steep Learning Curve for Surgeons
- Although the benefits of transradial access are well documented, this technique requires significant training and experience. The need for additional training and practice to perfect the transradial approach may have hindered its widespread adoption. Healthcare facilities in areas with limited access to such training may face challenges in implementing ventilator devices, thus limiting market growth in those areas.
Risks and Complications of Radial Artery Occlusion
- Although radial insertion generally has fewer complications compared with the femoral approach without risk. Radial artery occlusion, where the artery is blocked after surgery, can occur in some patients, especially those with small radial arteries or pre-existing peripheral artery disease. While these complications are relatively rare, they can limit the broader application of transradial access in certain patient populations, hindering the market’s growth potential.
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Transradial Access Devices Market Competitive Landscape
Strategic partnerships and acquisitions are key strategies used by the major players to expand their market position and product offerings. Collaboration between healthcare institutes and research organizations helps companies stay ahead of technological developments, improving their market performance. Companies invest heavily in R&D to come up with the advanced transradial access devices with advanced features such as improved flexibility, visibility, patient comfort etc. Innovations such as low-profile sheaths and advanced guidewires are in development prevalent, indicating that the industry is focused on meeting the evolving needs of healthcare professionals.
Top Player’s Company Profiles
- Terumo Corporation
- Medtronic
- Boston Scientific Corporation
- BD
- Cardinal Health
- AngioDynamics
- Merit Medical Systems
- Edwards Lifesciences Corporation
- NIPRO Medical Corporation
- Abbott Laboratories
- Teleflex Incorporated
- GTCR LLC
- iVascular S.L.U.
- Kimal plc
- Penumbra Inc.
- Stryker Corporation
- Semler Technologies, Inc.
Recent Developments
- In February 2024, AngioDynamics announced the U.S. FDA 510(k) clearance for their Auryon XL catheter for treatment of peripheral vascular disease.
- In November 2023, one of the global leaders in cardiology announced the completion of the celebration of patient nomination.
- In February 2022, Launch Minnesota awarded approximately $440,000 in matching grants to recipients of SBIR/STTR 17. The award included Conway Medical, which developed a new thrombectomy system with cavity sizes suitable for the transradial approach.
Transradial Access Devices Key Market Trends
- Technological Advances in Equipment: The transradial access devices market is benefiting from the innovations in medical technology. Device manufacturers have focused on improving catheter design, guidewires, and dressings to make them more accessible and efficient. For example, catheters are now available in thinner and more flexible varieties, making the treatment safer for many patients. These developments are expected to encourage more healthcare facilities to adopt the aerobic approach, driving the growth of the market in the coming years.
- Shift Toward Outpatient and Ambulatory Care: Another notable market trend is the increasing shift to outpatient treatment and ambulatory care. As healthcare systems around the world aim to reduce costs and improve patient convenience. As well as the possibilities of procedures in outpatient settings, transradial access, with low complication rates and rapid healing times are well suited for these conditions. This trend is expected to further increase the use of pneumatic devices, especially in developed areas with advanced healthcare facilities.
Transradial Access Devices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, the market for transradial access devices is primarily driven by rising cardiovascular diseases and preference for less invasive procedures but challenges such as lack of skilled personnel and risk of radial artery occlusion restrain the market the development. On the other hand, technological advances in device manufacturing and shift towards the outpatient care are emerging as major trends, setting the market for future expansion. Overall, the market is expected to grow as healthcare systems across the globe increasingly demand safer, faster and more cost-effective options.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.95 billion |
| Market size value in 2031 | USD 3.85 billion |
| Growth Rate | 7.81% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Transradial Access Devices Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Transradial Access Devices Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Transradial Access Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Transradial Access Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Transradial Access Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Transradial Access Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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