Transradial Access Devices Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Transradial Access Devices Market is Segmented By Product Type (Catheters, Guidewires, Sheaths, Others), By Application (Drug Administration, Blood Transfusion, Diagnostics, Others), By End-User (Hospitals, Specialty clinics, Ambulatory surgical centers, Others), and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Transradial Access Devices Market Size

Global Transradial Access Device Market reached USD 2.0 billion in 2022 and is expected to reach USD 3.4 billion by 2030 growing with a CAGR of 7.4% during the forecast period 2023-2030.

Transradial access (TRA) is the preferred approach for coronary angiography and percutaneous coronary intervention (PCI) due to the reduced risk of bleeding and vascular complications as compared with transfemoral access (TFA), increased patient satisfaction, and reduced mortality in patients presenting with ST-segment–elevation myocardial infarction. Furthermore, the rising incidence of acute coronary syndrome is driving the transradial access device market size. Due to the massive increase in technological advancements in countries like the U.S. and Canada, the market is seeing an increase in demand from North American regions from significant competitors like Ameco Medical, BD, Angiodynamics, Inc., and others actively operating in the market.

Transradial Access Devices Market Scope

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Transradial Access Devices Market Dynamics

An Increase in the Number of Coronary Artery Procedures will Drive the Growth of the Market

An increase in the number of coronary artery procedures will drive the market. There is a massive increase in the number of people suffering from coronary artery diseases and surgeries.Transradial cardiac catheterization is a procedure used to treat and diagnose certain heart conditions. 

It is also called a transradial cardiac cath or angiography. During the procedure, a healthcare provider inserts a long thin tube (catheter) through the radial artery. The radial artery is a blood vessel in the wrist. For instance, according to NIH, almost 400,000 coronary artery bypass surgeries are performed each year, making it the most commonly performed major surgical procedure.

An Increase in Awareness Among People Around the World is Driving the Market Growth

The increased number of heart diseases and increased deaths because of heart diseases has increased awareness among people around the world. Due to the increase in awareness among people, the use of transradial access devices has been increased. There is a rapid increase in the number of people who are diagnosing heart conditions using transradial access devices.

For instance, according to CDC, coronary heart disease is the most common type of heart disease, killing 375,476 people in 2021. About 1 in 20 adults age 20 and older have coronary heart disease (about 5%). In 2021, about 2 in 10 deaths from CAD happen in adults less than 65 years old.

Complications Associated with the Devices will Hamper the Market Growth

The complications associated with the use of transradial access devices can decline the market growth. There are a number of complications that are unique to transradial catheterization. Although the majority of these are not clinically triggered, they occasionally require dedicated management. These complications include arterial injury, spasm, occlusion, perforation, hematoma, and pseudoaneurysm. Thus, these factors can hamper the market growth.

Transradial Access Devices Market Segment Analysis

The transradial access device market is segmented based by product type, application, and end user.

Catheters Segment Accounts for the Leading Position in the market owing to Approximately 45.7% of the Transradial Access Device Market Share

The cardiac catheter is a long, thin, flexible tube that is inserted into a blood vessel in the arm, groin or upper thigh, or neck. The catheter is then threaded through the blood vessels to the heart. It is used to examine heart valves or take samples of blood or heart muscle. Cardiac catheterization is a medical procedure used to diagnose and treat some heart conditions.

Cardiac catheterization is one of the most widely performed cardiac procedures. For instance, according to NIH, more than 1,000,000 cardiac catheterization procedures are performed in the U.S. annually. Thus increase in the number of cardiac catheterization treatments drives the market growth.

Source: DataM Intelligence Analysis (2023)

Global Transradial Access Devices Market Geographical Share

North America Accounted for Approximately 38.6% of the Market Share in 2022

North America holds the leading position in transradial access devices. Due to the increased awareness and increased incidence of a number of heart-related diseases and symptoms, the treatments using transradial access devices are more in this region to diagnose heart conditions.

For instance, according to CDC, every year, about 805,000 people in the U.S. have a heart attack. Of these, 605,000 are a first heart attack. 200,000 happen to people who have already had a heart attack. Additionally, in the U.S., more than 1,000,000 cardiac catheterization procedures are performed annually to diagnose the heart condition. Thus, the above-mentioned factors are expanding the market growth.

Source: DataM Intelligence Analysis (2023)

Transradial Access Devices Companies

The major global players in the transradial access device market include AmecoMedical; BD; Angiodynamics, Inc.; BostonScientific Corporation; Edward Lifesciences Corporation; Teleflex Incorporated; Merit Medical Systems; Medtronic; Nipro Medical Corporation; Oscor Inc. among others.

COVID-19 Impact on Transradial Access Devices Market

Russia-Ukraine Conflict Analysis

The Russia-Ukraine conflict is estimated to have a moderate impact on the transradial access device market, owing to the low prevalence and absence of key market players in this region. However, the impact of the import and export of raw materials is expected to have little influence over the transradial access device market growth over the forecast period.

Key Developments

• On September 28, 2021, Medtronic plc, the global leader in medical technology,  announced it has received CE Mark approval for its radial artery access portfolio, which includes the Rist 079 Radial Access Guide Catheter and Rist Radial Access Selective Catheter. TheRist 079 Radial Access Guide Catheter is the first catheter specifically designed for the unique demands of accessing the neuro vasculature through the radial artery versus access through the transfemoral artery. It has been cleared by the U.S. Food and Drug Administration1, the product has been in use at limited sites in the U.S.
• On November 21, 2022, Merit Medical Systems, Inc., a leading global manufacturer and marketer of healthcare technology, announced the U.S. commercial release of the PreludeSYNC EZ Radial Compression Device. It complements a robust radial portfolio of products that includes the Prelude IDeal, Merit’s thin-walled hydrophilic sheath introducer with superior kink and compression resistance. Designed for optimal clinical performance, the PreludeSYNC EZ assists in achieving access site patent hemostasis (the prevention of bleeding) following radial artery access procedures.
• On 14 July 2022, Cordis, a global leader in cardiovascular technologies, announced the start of the RADIANCY pre-market clinical study in Europe. It is a prospective, multicenter, single-arm study to assess the safety and efficacy of the S.M.A.R.T. RADIAN Vascular Stent System intended for the treatment of lesions in the iliac, superficial femoral or proximal popliteal arteries via radial artery access through 30-day follow up.

Why Purchase the Report?

• To visualize the transradial access device segmentation based on product type, application, end-user, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of transradial access device market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The transradial access device market report would provide approximately 53 tables, 54 figures, and 195 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies