Transradial Access Market Size is projected to reach USD 4.10 Billion by 2032, Growing at a CAGR of 7.4%: Emergen Research

PRESS RELEASE

Published July 6, 2023

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.

Some Significant Report Highlights:

The diagnostics and testing segment accounted for largest revenue share in 2022. Neuroendovascular procedures, such as diagnostic angiography, carotid artery stent implantation, coil embolization of aneurysms, and treatment for acute ischemic stroke, have more recently been performed using the radial artery route. In patients with coronary artery disease, transradial access results in less bleeding, fewer vascular access site problems, and a lower mortality rate.
The catheters segment registered a significantly fast revenue growth rate in 2022 due to rising kidney, bladder and urinary tract infections. The most prevalent catheter-associated consequence is Catheter-Associated Urinary Tract Infection (CAUTI). Bacteriuria develops as a result of the length of catheterization. The daily incidence of pathogenic bacteria acquisition in a patient with a urinary catheter is 3-10% of catheterization, with a cumulative danger of 100% after 30 days. A urinary catheter is a thin, flexible tube that is inserted into the body to collect urine. The urine is collected and held in a drainage bag before being drained.
The transradial access market in North America accounted for largest revenue share in 2022 due to the presence of key players of transradial access instrument manufacturers in this region. For instance, on 14 March 2023, Shockwave Medical, Inc., a pioneer in the research and development of Intravascular Lithotripsy (IVL) to treat severely calcified cardiovascular disease, announced the full commercial availability of the Shockwave L6 Peripheral IVL Catheter in the United States, following FDA clearance. The Shockwave L6 catheter was designed specifically to change calcification in major peripheral vessels, such as the iliac and common femoral arteries.

On 31 January 2023, Coloplast introduces the SpeediCath Flex Set in the United States. It was created for persons who have bladder and urinary difficulties. As a catheter and bag solution, commonly known as a Closed System, the new SpeediCath Flex Set with a ‘no touch dry sleeve’ and an omni-directional tip is now available.

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Segmental Analysis:

Emergen Research has segmented the global transradial access market on the basis of product, application, end-use, and region:

Product Outlook (Revenue, USD Billion; 2019-2032)
- Catheters
- Guidewires
- Sheaths & Sheath Introducers
- Accessories

Application Outlook (Revenue, USD Billion; 2019-2032)
- Fluid and nutrition administration
- Drug administration
- Blood transfusion
- Diagnostics and testing

End-Use Outlook (Revenue, USD Billion; 2019-2032)
- Hospitals and clinics
- Ambulatory surgical centers
- Others

Regional Outlook:

North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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