Transradial Access Devices Market is Projected to Grow at Highest CAGR

Tue, 21 May 2019 4:44

In Angiography procedure transradial access devices play a vital role. It is used to detect conditions of an artery and other. Since the prevalence rate of chronic diseases is increasing and rising health expenditure is helping the growth of the market. North America is dominating the market. Moreover, Asia Pacific is the fastest growing region in the transradial access devices market owing to increasing prevalence of cardiovascular disease in highly populated countries such as China and India.

Market Segmentation

Transradial access devices market is segmented into product, application, end user, and region.

On the basis of product, Transradial access devices market is segmented into catheters, guide wires, sheath & sheath introducers, and accessories. Catheters segment is projected to capture high market share due to increasing prevalence rate of lifestyle-related diseases and growing number of angiography and interventional procedures.

By application, market is segmented into the drug administration, fluid & nutrition administration, blood transfusion, and diagnostics & testing. Drug administration segment is projected to grow rapidly due to infections and cancer is treated using radial access devices for drug administration.

On the basis of end user, Transradial access devices market is segmented hospitals, surgical centers, and others (laboratories, nursing homes, diagnostic & imaging centers, and home healthcare agencies). Hospital segment is projected to grow significantly due to a large number of transradial procedures performed in hospital.

Regional Analysis

By region, transradial access devices market is segmented into North America, Europe, Asia Pacific, and the LAMEA.

North America is a leading region in the transradial access devices market, owing to Increasing number of CVDs, growing prevalence of cancer, an increase in research and clinical trials for vascular access devices. Therefore, demand for Transradial access devices is expected to increase in the North America region.

Europe is expected to experience significant growth in the transradial access devices market, due to the increasing health expenditure in the region. Moreover, due to changing life-style life-threatening disease such as CVDs, cancer, and obesity are growing. Therefore, demand for Transradial access devices is expected to increase in Europe.

 

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Asia Pacific is projected to grow at highest CAGR in the Transradial access devices market, during the forecast period due to growing government initiatives to encourage healthcare providers & other healthcare organizations to adopt advanced technology. Due to high consumption of junk food, the obesity rate is increasing. The highest rate of cardiovascular disease is observed in the Asia Pacific region.

LAMEA is anticipated to grow at healthy growth rate, owing to development in healthcare sector. Increasing investment in the healthcare sector of the region is expected to escalate market growth.

Key Players

Some of the key market players in the transradial access devices market are Ameco Medical, Becton, Dickinson and Company, Angiodynamics, Inc., Boston Scientific Corporation, Edward Lifesciences Corporation, Teleflex Incorporated, Merit Medical Systems, Medtronic, Nipro Medical Corporation, Oscor Inc., Smiths Medical, and Terumo Corporation.