Transradial Access Devices Market trends and dynamics, Drivers, Competitive landscape and Future Opportunities

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In 2017, the global transradial access devices market generated a revenue of $14.9 billion, and it is anticipated to grow at a CAGR of 8.4% during the forecast period (2018–2023).

The market is experiencing growth due to the increasing prevalence of chronic diseases, preference of radial artery for interventional procedures, and use of these devices in high-risk as well as geriatric patients. Such devices are used for endovascular procedures, involving catheterization or intervention in the radial artery, for the diagnosis and treatment of diseases such as peripheral artery disease and coronary heart disease.

A trend of increasing focus on the development of robot-assisted catheter systems for the treatment of various diseases is emerging in the transradial access devices market. For instance, Corindus Vascular Robotics Inc., in January 2016, installed its first CorPath System and launched the CorPath robotic-assisted coronary intervention program at Massachusetts General Hospital. The system provides protection to both, patients and medical practitioners, from radiation exposure during percutaneous coronary interventions. Similarly, in October 2014, Hansen Medical Inc. unveiled the Sensei X2 robotic system in Europe and the U.S., which serves as a navigation system during electrophysiology procedures in the heart atria that involve robotic catheters.

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The transfemoral approach causes complications such as hematoma formation, extravasation, thrombophlebitis, and infiltration. Many studies have reported the transradial approach to be better than the transfemoral one, as it lowers the mortality risk in patients with ST-elevation myocardial infarction and other diseases. It provides improved comfort in patients during the procedure and helps them regain their mobility faster as compared to the transfemoral approach. These advantages associated with the transradial technique are expected to drive the market forward.

The transradial access devices market is segmented by geography, application, end user, and product. The end user segment is categorized into clinical and ambulatory centers, hospitals, and others. In 2017, the hospital category generated the highest revenue and it is expected to be the fastest-growing category during the forecast period. The various application areas of transradial access devices include fluid and nutrition administration, drug administration, diagnostics and testing, and blood transfusion. Among these, drug administration contributed more than 45.0% revenue to the market in 2017.

Therefore, the market is expected to witness a boom as such devices help patients recover faster.

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