The global transradial access market size was USD 2.00 Billion in 2022 and is expected to register a revenue CAGR of 7.4% during the forecast period. Increasing prevalence of coronary artery diseases and cardiovascular diseases, growing prevalence of obesity, and rising adoption of interventional procedures are some of the major factors driving the market revenue growth. In addition, increasing product launches and initiations by leading companies and rising prevalence of lifestyle diseases are contributing significantly to the growth of the market.
Growing prevalence of obesity is driving the market revenue growth. The definitions of overweight and obesity include excessive or abnormal accumulation of fat that could harm one’s health. According to the Health Survey for England 2021, obese adults make up 25.9% of the adult population in England, with another 37.9% being overweight but not obese. Typically, a Body Mass Index (BMI) of 30 or more is considered obese.
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According to the report, which was published in December 2022, Men are more probable than women to be overweight or obese. On the other hand, increasing product launches and initiations by leading companies for instance, on 10 March 2021, Hollister Incorporated, a privately held, employee-owned business that creates, produces, and distributes healthcare products across the world, introduced the Infyna ChicTM intermittent catheter to the U.S. market, the most recent development in the company’s line of hydrophilic catheter devices. It was designed to enable women who utilize catheters to maintain their discretion.
However, product recall by leading companies is restraining revenue growth of the market. For instance, on 26 May 2022, Abbott Medical is recalling the Dragonfly OpStar Imaging Catheter due to an eventual loose catheter indicator band that could endanger patients. This device issue resulted in 5 occurrences and 1 injury. According to the report, no deaths have been connected to the use of this gadget. This is a Class I recall, the most extreme category of recall, according to the Food and Drug Administration (FDA). The usage of these technologies could result in fatalities or severe injuries.
Some major companies in the market report include:
Terumo Corporation, Medtronic, Edwards Lifesciences Corporation., Nipro Medical Corporation, Boston Scientific Corporation, AngioDynamics., Teleflex Incorporated., Penumbra, Inc., Hollister Incorporated, Abbott
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Terumo Corporation: Terumo is a leading medical device firm that provides a variety of products for transradial access operations, such as radial artery compression devices, sheaths, guidewires, and diagnostic catheters. The company has a large global presence and is well-known for its breakthrough interventional cardiology technologies.
Medtronic plc is a worldwide medical technology firm that offers a variety of healthcare products. Transradial access items such as radial sheaths, guiding catheters, and hemostasis devices are available. Medtronic’s significant presence in the cardiovascular industry, as well as its diverse product portfolio, contribute to the company’s competitive position in the transradial access arena.
Boston Scientific Corporation: Boston Scientific is a leading medical device producer that provides a variety of transradial access products such as radial artery sheaths, guiding catheters, and closure devices. The company’s emphasis on technology developments and smart acquisitions has helped it maintain a market competitive edge.
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Emergen Research has segmented the global transradial access market on the basis of product, application, end-use, and region:
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