Transradial Access Devices Market Size, Share & Trends Analysis Report By Product (Catheters, Guide wires, Sheath & Sheath Introducers, Accessories, Others), By Application (Drug Administration, Fluid & Nutrition Administration, Blood Transfusion, Diagnostics & Testing, Others), By End User (Hospitals, Clinics, Ambulatory Care Centers, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Market Overview

The global transradial access devices market size was valued at USD 2.4 billion in 2022. It is projected to reach USD 4.9 billion by 2031, growing with a CAGR of 8.3% during the forecast period (2023–2031).

Transradial access is favored over transfemoral access for coronary angiography and percutaneous coronary intervention due to a lower risk of bleeding and vascular problems, greater patient satisfaction, and lower mortality. During the last few years, the number of patients suffering from various arterial diseases has increased. A number of devices are introduced in the market which is used in the treatment of these diseases. The rising cases of arterial disorders such as atherosclerosis are expected to be the major driver of the market. Obese patients are more prone to diseases. The increase in obesity and the diabetic population has boosted the growth of the market. According to the World Health Organization (WHO), obesity incidences have tripled since 1975 across the globe. Over 650 million adults aged 18 years and above were found obese around the globe. Adoption of a desk-bound lifestyle, consumption of junk food, and physical inactivity are also adding to the patient pool. Also, the consumption of alcohol and tobacco products leads to heart-related problems.

Transradial access offers many advantages over other methods, such as low cost and lesser complication rate than other access; thus, it is a safe alternative. Moreover, the government and private players are investing a lot in research & development for advancements in technology for the treatment, which is fuelling the growth of the market. However, the expertise required by the technique, the growing trend of a product recall, and the risk of failure are the major challenges to the growth of the market. The lack of healthcare facilities in underdeveloped regions has created an opportunity for key players to enter the untapped market.

Market Dynamics

What are the factors driving the market growth?

Technological advancements

Increasing technological advances in vascular access devices will have a favorable effect on industry expansion. Several technological advancements, including drug-coated balloons and the application of nanotechnology, as well as a number of other innovations, have boosted the success rate and outcome of the process. In addition, innovations such as cobalt chromium multi-link technology, triaxial technology, and interwoven wire technology will increase the use of catheters and guidewires during transradial coronary artery treatments. Similarly, advantages such as adaptability, sturdiness, deliverability, and visibility will provide lucrative market prospects in the approaching years. In addition, rapid innovation and rising R&D expenditures will drive the market's value during the projection period.

Regional Analysis

Globally, the market of transradial access devices is divided into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa (LAMEA).

The global transradial access devices market is estimated to be dominated by North America owing to advancements in healthcare treatment and the high number of patient pools with cardiac disorders. There are a huge number of people suffering from obesity and diabetes in the region. According to the Centre for Disease Control and Prevention (CDC), 2% of the population younger than 65 are diagnosed with atrial fibrillation. Additionally, according to the World Health Organization (WHO), in 2015, 30.1 million Americans were suffering from diabetes. Due to the obesity pandemic in the United States, an increasing percentage of patients have panniculus that impede TFA access. Obesity necessitates creative patient positioning to expose the femoral crease, requires interventionalist access to atypically deep femoral arteries, and increases the risk of post-procedure bleeding and infection at the access site. Given that the wrist has less fat than the femoral artery accessing the radial artery eliminates many obstacles in obese people. Furthermore, growing healthcare expenditure and growing consumption of alcohol & cigarette smoking in the region are also contributing to the growth of the market. According to the Centers for Disease Control and Prevention (CDC), more than 15 in every 100 US adults smoke cigarettes.

The European region holds the second leading position in the market, followed by the Asia Pacific. The growing obese population and rising preference to use radial access devices in pediatric patients are the major drivers of the market in the region. The rise in the frequency of lifestyle disorders and cardiovascular diseases will function as a significant factor in boosting the growth rate of the transradial access market. An additional key aspect contributing to the expansion of the industry is the increase in the elderly population. Moreover, high per capita expenditure on health care and the growing trend of medical tourism are fostering the growth of the market.

Asia Pacific region is expected to exhibit the fastest growth rate during the forecast period. Surging cardiac disorders and a growing obese population strengthen the region’s market. Countries such as India and China are among the nations to have the maximum obese populations. Apart from this, the patient pool of cardiac disorders is rising in the region. The development rate of the transradial access market will be influenced by the increasing healthcare expenditures, changing lifestyles, and rising disposable incomes in developing nations. The transradial access devices market in Japan accounted for more than 25 percent of the Asia-Pacific market. The country's expanding senior population is a crucial reason for this.   This increases the number of patients admitted with coronary disease. The immune system and musculoskeletal system are known to weaken over time as the average human life expectancy increases. This is anticipated to increase the demand for transradial access devices in the region.

LAMEA region is expected to show slow growth in the market during the forecast period, owing to their underdeveloped economies and lack of medical facilities. Cardiovascular disease imposes a significant burden on African and Middle Eastern nations. A high prevalence of risk factors, including smoking, hypertension, dyslipidemia, diabetes, and sedentary lifestyles, promotes the prevalence of coronary heart disease. Dyslipidemia is very common in the Arab region, which adds to the patient pool. Furthermore, a large part of Africa lacks medical facilities that allow market players to invest in the region. In Latin America, social infrastructure initiatives are booming. Certain novel instruments, such as public-private alliances, are becoming increasingly desirable to realize such projects, as they guarantee the efficacy and quality of hospitals, research facilities, etc. The government has raised spending on public welfare projects and new medicinal research. Such factors will propel the growth of the studied market in the region.

Segmental Analysis

The transradial access devices market is segmented into product, application, and end-user.

On the basis of product, the transradial access devices market is segmented into catheters, guide wires, sheath & sheath introducers, and accessories.

The catheter segment will likely grow at the highest CAGR owing to increasing heart-related disease and obesity. It is becoming increasingly popular among interventional cardiologists. This is because of the decreased risk of bleeding and access site problems. In addition, radial-specific catheters permit angiography of both the right and left coronaries by rotating the catheter in a clockwise and counterclockwise direction. Consequently, this facilitates the elimination of catheter exchange and can lead to a shorter total procedure time, as well as a lower incidence of radial artery spasm. However, obstacles such as a lack of training and the high cost of the process and equipment limit the expansion of the market for radial access catheters.

By application, the market is segmented into drug administration, fluid & nutrition administration, diagnostics & testing, and blood transfusion.

Diagnostics & testing segment is expected to hold major shares owing increasing prevalence of the chronic disease across the globe. The drug administration segment of the transradial access market is expected to grow rapidly during the forecast period. This is mostly attributable to the increasing preference for vascular access devices over other devices, particularly for treating infectious diseases and some life-threatening conditions such as cancer.

On the basis of end-user, the transradial access devices market is segmented into hospitals, surgical centers, and others (laboratories, nursing homes, diagnostic & imaging centers, and home healthcare agencies).

The hospital segment will likely grow at the fastest CAGR during the forecasted period owing to the large number of procedures performed in the hospital setting.

Recent Developments

• September 2021- Medtronic plc, the global leader in medical technology, announced its radial artery access portfolio, including the Rist 079 Radial Access Guide Catheter and Rist Radial Access Selective Catheter, which has obtained CE Mark clearance. The Rist 079 Radial Access Guide Catheter is the first catheter designed exclusively for the unique requirements of entering the neuro vasculature via the radial artery as opposed to the transfemoral artery.
• July 2022- Cordis, a global leader in cardiovascular technologies, announced the launch of the RADIANCY clinical research in Europe. It is a prospective, multi-center, single-arm study designed to evaluate the safety and efficacy of the SMART RADIANZ Vascular Stent System for treatment of lesions in the iliac, superficial femoral, or proximal popliteal arteries via radial artery access through 30 days of follow-up.