Radial compression devices are
categorized as: disposable radial compression devices and reusable radial
compression devices, on the basis of usage type. These devices are mainly used
in hospitals, independent catheterization centers, ambulatory surgical centers,
and specialized clinics.
Statistics:
The global Radial
Compression Devices Market is estimated to account for US$ 357.7 Mn in terms
of value by the end of 2027.
Global Radial Compression Devices
Market: Drivers
Lower post-procedural
complications is expected to boost growth of the global radial compression
devices market over the forecast period.
PCI can be performed by radial approach and also by femoral approach.
Market interviews have revealed that approximately 2-8% of patients have
experienced complication after PCI procedure by femoral approach whereas
incidence of complication by radial approach is negligible (~<1%).
Global Radial Compression Devices
Market: Opportunities
Increasing number of angiography
and angioplasty procedures is expected to offer lucrative growth opportunities
for players in the global radial compression devices market. For instance,
according to the American College of Cardiology, more than 1.2 million
angioplasties are performed annually in the United States.
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Global Radial Compression Devices
Market: Restraints
Absence of concrete data on
adoption of radial access is expected to hinder growth of the market. Data on
adoption of radial compression devices by country is highly fragmented. The
reasons for the same are delayed approval of the process by US FDA and absence
of country-wise guidelines on radial catheterization.
Key Takeaways:
The Band/ Strap Based segment in
the global radial compression devices market was valued at US$ 146.7 Mn in 2019
and is expected to reach US$ 291.0 Mn by 2027 at a CAGR of 8.9% during the
forecast period. Increasing prevalence of cardiovascular devices is expected to
boost growth of the segment over the forecast period
The Diagnostics segment held
dominant position in the global radial compression devices market in 2019,
accounting for 50.5% share in terms of value. Increasing number of angiography
and angioplasty procedures is expected to assist the growth of the segment
during the forecasted period
Market Trends
The market is witnessing
increasing M&A activities. For instance, in December 2018, Merit Medical
Systems, Inc. acquired Vascular Insights, LLC, a provider of specialty infusion
and occlusion catheter systems.
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Report: https://www.coherentmarketinsights.com/market-insight/radial-compression-devices-market-3542
The market is also witnessing
launch of new devices to monitor blood flow through radial artery to prevent
occlusions post PCI. For instance, in May 2019, IdaHealth, a U.S.-based
company, launched a new device called IdaFlo Tr. The wireless device
continuously monitors blood flow through the artery.
Global Radial Compression Devices
Market: Competitive Landscape
Major players operating in the
global radial compression devices market include, Terumo Corporation, Abbott
Laboratories, Vascular Solutions Inc. (a part of Teleflex Incorporated),
Advanced Vascular Dynamics, Comed B.V., Merit Medical Systems Inc., and Beijing
Demax Medical Technology Co., Ltd.
Global Radial Compression Devices
Market: Key Developments
May 2019: Cordis, a Cardinal
Health company, launched its RADIAL 360 portfolio, offering a complete range of
products to facilitate the transradial approach (TRA) for interventional cardiology
procedures, in the U.S.
January 2020: Terumo Europe NV, a
part of Terumo Corporation, launched a new randomized clinical trial that
compares the novel distal radial access with conventional radial access
approach, in terms of radial occlusion rates at discharge
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