Transradial Access Devices Market Set for Prosperity in Future
SummaryGlobal transradial access devices market size is forecasted to reach $24.1 billion by 2023, according to P&S Intelligence.
The cost-effectiveness of the approach and increasing chronic disease prevalence, preference for radial artery access during interventional procedures, chemotherapy procedure volume, radial access device use on high-risk and geriatric patients, and healthcare expenditure are the major reasons behind the transradial access devices market advance. Subsequently, the industry will grow at an 8.4% CAGR during 2018–2023 (forecast period) to reach $24.1 billion by 2023 from $14.9 billion in 2017.
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On the basis of product, the transradial access devices market is categorized into guidewires, catheters, accessories, and sheaths and sheath introducers. Among these, the catheters category dominated the market during the historical period (2013–2017), with a value share of over 40.0% in 2017. Due to the increasing prevalence of coronary artery disease, the volume of angiography and interventional procedures is rising. During the former, a contrast agent is delivered to the coronary artery via the catheter, so the blood flow and exact location of the blockage can be detected via X-ray.
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One of the key reasons behind the growing transradial access devices market is the increasing usage of the transradial approach over the transfemoral alternative. Years of extensive studies have revealed the former approach to be more suitable for high-risk, morbidly obese, and elderly patients, especially women. Furthermore, the transfemoral approach in patients taking anticoagulants via the mouth (parenterally) brings with it a significant risk of vascular bleeding at the access site, which is why the transradial approach is now being adopted more.
Therefore, as more doctors realize the advantages of transradial access and adopt this approach, the demand for the various devices used during the procedure will increase as well.