Transradial Access Market Size, Share, Industry Trends and Forecast to 2030

Transradial Access Market Size & CAGR in 2021

The global transradial access market is projected to grow at a CAGR of 5.2% from 2021 to 2028. The market size is expected to reach USD 1.4 billion by the end of 2028. The increasing prevalence of cardiovascular diseases and the rising adoption of minimally invasive procedures are driving the growth of the transradial access market.

COVID-19 Impact on the Transradial Access Market

The COVID-19 pandemic has had a significant impact on the transradial access market. Due to the restrictions imposed to control the spread of the virus, elective procedures, including transradial access procedures, were postponed or canceled. This led to a decline in the number of procedures performed, affecting the revenue of market players. However, with the easing of restrictions and the resumption of elective procedures, the market is expected to regain momentum.

Transradial Access Dynamics

Transradial access is a technique used to perform minimally invasive procedures, such as cardiac catheterization and percutaneous coronary intervention, through the radial artery in the wrist. This approach offers several advantages over the traditional transfemoral approach, including reduced risk of bleeding complications, faster recovery times, and improved patient comfort. The growing preference for transradial access among both patients and healthcare providers is driving the growth of the market.

Segments and Related Analysis

The transradial access market can be segmented based on product type, application, end-user, and region. By product type, the market is divided into transradial catheters, guidewires, sheaths, and other accessories. Based on application, the market is categorized into interventional cardiology, interventional radiology, and other specialties. The end-users of transradial access products include hospitals, ambulatory surgical centers, and specialty clinics.

By Region Analysis

The transradial access market is geographically segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is the largest market for transradial access products, owing to the high prevalence of cardiovascular diseases and the presence of advanced healthcare infrastructure. However, the Asia Pacific region is expected to witness the highest growth rate during the forecast period, driven by increasing awareness about minimally invasive procedures and improving healthcare facilities.

Key Market Players and Competitive Landscape

Some of the key players in the transradial access market include Terumo Corporation, Merit Medical Systems, Inc., Teleflex Incorporated, Boston Scientific Corporation, and Cardinal Health, Inc. These companies are focusing on strategic initiatives such as product launches, partnerships, and acquisitions to strengthen their market presence and expand their product portfolios. The competitive landscape of the transradial access market is characterized by intense competition and technological advancements.

Recent Happenings in the Transradial Access Market

In recent years, the transradial access market has witnessed several developments, including the introduction of innovative transradial catheters, guidewires, and sheaths with advanced features. Companies are also investing in research and development activities to enhance the safety and efficacy of transradial access procedures. Additionally, collaborations between healthcare providers and medical device manufacturers are driving the adoption of transradial access techniques worldwide.