Transradial Access Devices Market

Market CAGR for transradial access devices is being driven by the growing technological developments in medical sector. Vascular access device technology will continue to progress, promoting market expansion. The process's success rate and results have improved thanks to a number of technological developments. 

In addition, the use of catheters and guidewires during transradial coronary artery procedures will increase because to advancements in cobalt chromium multi-link, triaxial, and interwoven wire technologies. Similar to flexibility, durability, delivery, and visibility, these attributes will create appealing market potential in the coming years.

Additionally, the prevalence of cardiovascular disorders increased due to unhealthful eating patterns, changing lifestyles, and other environmental variables, which is contributing more paediatric patients to have cardiac catheterization. In recent years, there has been a rise in the number of people experiencing atherosclerosis and other arterial problems. There are numerous products on the market that are used to treat these conditions. Obese people are more likely to get certain disorders. 

Moreover, Lack of exercise, Intake of processed foods, and living a sedentary lifestyle are factors in the rising patient population. Consuming alcohol and smoke also makes heart-related problems more likely, which is anticipated to drive the market growth in the coming years.

Increasing incidence of peripheral artery disease (PAD) anticipated to propel the market growth. According to the AHA, in August 2021, scientific study that was published in which more than 230 million people worldwide suffer from lower extremity peripheral artery disease (PAD), which has been linked to an increased risk of several adverse clinical outcomes, including cardiovascular diseases like coronary heart disease and stroke and limb outcomes like amputee status. The rise in the prevalence of PAD ultimately spurs demand for transradial access-required interventional procedures, fueling the market's expansion over the projection period.

For instance, according to WHO data released in June 2021, Nearly 33.5 million people worldwide experience atrial fibrillation (AFib), the most prevalent kind of severe arrhythmia. In addition, a report from the British Heart Foundation that was released in July 2021 stated that 7.6 million people in the UK suffer from heart and circulation disorders. 

Additionally, the 2022 AHA report estimates that roughly 244.1 million people worldwide have IHD. The highest prevalence rates of IHD were found in North Africa, the Middle East, Central and South Asia, and Eastern Europe in 2020. The number of patients with heart rhythm abnormalities is projected to climb as the world's ageing population grows. This will result in a greater uptake of transradial access, Thus, driving the Transradial Access Devices market revenue.

The Global Transradial Access Devices Market Industry is poised for substantial growth, with projections indicating a market value of 1.73 USD Billion in 2024 and an anticipated increase to 3.71 USD Billion by 2035. This growth trajectory suggests a compound annual growth rate of 7.18 percent from 2025 to 2035. Such figures highlight the increasing adoption of transradial access techniques across healthcare facilities worldwide. The market's expansion is likely driven by factors such as technological advancements, rising cardiovascular disease prevalence, and a growing preference for minimally invasive procedures. These projections underscore the promising future of the transradial access devices market.

The increasing geriatric population worldwide is a significant driver of the Global Transradial Access Devices Market Industry. As individuals age, they are more susceptible to cardiovascular diseases, necessitating effective treatment options. According to demographic studies, the global population aged 65 and older is expected to double by 2050, leading to a higher demand for cardiovascular interventions. This demographic shift compels healthcare systems to adopt transradial access techniques, which are often safer for older patients. Consequently, the market for transradial access devices is likely to expand, driven by the need to cater to this growing patient population and their specific healthcare requirements.

The implementation of enhanced training and awareness programs for healthcare professionals is positively impacting the Global Transradial Access Devices Market Industry. As more medical institutions recognize the benefits of transradial access, they are investing in training initiatives to equip practitioners with the necessary skills. These programs not only improve procedural success rates but also foster greater confidence among healthcare providers. Increased awareness of the advantages of transradial access, such as reduced bleeding complications and faster recovery times, is likely to drive adoption rates. As a result, the market is expected to witness substantial growth, reflecting the commitment to improving patient care through education and training.

Technological innovations play a crucial role in shaping the Global Transradial Access Devices Market Industry. Recent advancements in device design, materials, and imaging technologies have enhanced the safety and efficacy of transradial procedures. For instance, the introduction of ultra-thin catheters and advanced hemostatic devices has improved patient outcomes significantly. These innovations not only facilitate easier access but also reduce the risk of complications, thereby encouraging more healthcare facilities to adopt transradial access techniques. As the market evolves, it is anticipated that the industry will experience a compound annual growth rate of 7.18 percent from 2025 to 2035, driven by continuous technological improvements.

The rising incidence of cardiovascular diseases globally is a primary driver for the Global Transradial Access Devices Market Industry. As the World Health Organization indicates, cardiovascular diseases account for approximately 32 percent of all global deaths. This alarming statistic propels healthcare providers to adopt transradial access techniques, which are associated with lower complication rates compared to traditional methods. The market is projected to reach 1.73 USD Billion in 2024, reflecting the urgent need for effective intervention strategies. Consequently, the demand for transradial access devices is expected to surge as healthcare systems prioritize innovative solutions to combat this growing health crisis.

The shift towards minimally invasive procedures is increasingly influencing the Global Transradial Access Devices Market Industry. Patients and healthcare providers alike favor these techniques due to their associated benefits, such as reduced recovery times and lower complication rates. Transradial access, in particular, offers a less invasive alternative to traditional femoral access, leading to shorter hospital stays and improved patient satisfaction. As more practitioners recognize these advantages, the demand for transradial access devices is expected to rise. This trend aligns with the projected market growth, which is anticipated to reach 3.71 USD Billion by 2035, reflecting the ongoing transition towards less invasive medical practices.

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Transradial Access Devices market area will dominate this market, owing to CVDs are becoming more common, there are more conferences and workshops, studies, and clinical trials for vascular access devices.

In February 2022, according to CDC updates, a fair or poor health status affects 2.1% of children in the United States in 2020, while 3.3% of children aged 5 to 11 missed 11 or more days of school in the previous 12 months as a result of an illness or accident. 

Growing healthcare costs and a well-established healthcare sector anticipated to propel the market growth. For instance, the United States spent USD 440,000 million on healthcare in 2020, according to NHEA statistics that was published in December 2021.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2:  TRANSRADIAL ACCESS DEVICES MARKET SHARE BY REGION 2022 (USD Billion)      

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Transradial Access Devices market accounts for the second-largest market share due to the rise in popularity of radial access devices among young patients. The rate of expansion of the transradial access market would be significantly impacted by the rise in the prevalence of cardiovascular diseases. 

The growing older population estimated to drive the market growth. Additionally, expanding medical tourism trends and rising per capita healthcare costs are propelling market expansion. Further, the German Transradial Access Devices market held the largest market share, and the UK Transradial Access Devices market was the fastest growing market in the European region

The Asia-Pacific Transradial Access Devices Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to obesity and heart diseases are more common. Additionally, the region is seeing an increase in the number of heart disease patients. Transradial access market growth will be impacted by changing lifestyles, growing healthcare expenses, and rising disposable incomes. 

Moreover, China’s Transradial Access Devices market held the largest market share, and the Indian Transradial Access Devices market was the fastest growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Transradial Access Devices market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their  footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Transradial Access Devices industry must offer cost-effective items.

The government and private businesses are making significant investments in R&D for technological advancements in the  Transradial Access Devices industry to benefit clients and increase the market sector. In recent years, the Transradial Access Devices industry has advantages such as,  transradial access is safe method because it has many benefits over other procedures, including reduced costs and a lower rate of complications. 

Major players in the Transradial Access Devices market, including Becton, Dickinson & Company, Terumo Corporation, Teleflex Incorporated, Smiths Group Plc, Edward Lifescience Corporation, Medtronic Plc, and others, are attempting to increase market demand by investing in research and development operations.

Terumo, as a leader in medical technology has dedicated itself to "Contributing to Society through Healthcare" for the past 100 years. Terumo, a Tokyo-based company with  operations, employs more than 30,000 people to offer cutting-edge medical solutions in more than 160 nations and territories. The business began as a manufacturer of Japanese thermometers and has since supported healthcare. Now, its wide-ranging product portfolio includes medical items crucial for routine clinical practise, such as transfusion systems, diabetic care, and peritoneal dialysis treatments, in addition to vascular intervention and cardio-surgical solutions, blood transfusion and cell therapy technology. 

Terumo continue to make an effort to benefit patients, doctors, and society at large. Terumo assist patients overcome physical and mental challenges while providing solutions that address a range of problems in healthcare settings. Company working with healthcare professionals to make a significant contribution to society.  In September 2021, partnership to provide enhanced monitoring insights for adult cardiac surgery patients is announced by Etiometry and Terumo Cardiovascular. Enhanced perioperative care for adult cardiac surgery patients will be made possible through a new alliance due to clinical decision support tools.

Teleflex is a leading  provider of medical solutions intended to enhance people's wellbeing and quality of life. The company is using "purpose driven innovation"—a continuous search for unmet clinical needs—to help patients and medical professionals. Solutions for vascular and interventional access, surgery, anaesthesia, cardiac care, urology, emergency medicine, and respiratory care are all included in our comprehensive offering. Worldwide, almost 14,000 Teleflex employees share the conviction that the work we perform each day has an impact.

In February 2023, Teleflex adds two new FDA-approved catheter devices for use in complex percutaneous coronary interventions (PCI) to its portfolio of interventional cardiology products.