Emergen Research’s latest market research report focuses on the global Transradial Access market, and the report provides in-depth analysis of each of its major segments. Reports about the global Transradial Access market provide a comprehensive overview of the market, including market size, revenue growth rate, industry statistics, revenue shares among regional markets, gross profits, production costs, and product portfolios. The report also highlights the most important factors influencing industry revenue growth, including drivers, opportunities, trends, restraints, challenges, demand and supply ratios, production and consumption patterns, strict regulatory frameworks, and a multitude of micro-economic and macro-economic factors. Transradial Access industry projections and qualitative and quantitative assessments have been provided by the report’s authors. The SWOT analysis and Porter’s Five Forces Analysis are some of the most important components of this report that provide insight into the highly competitive environment of the industry. A detailed analysis of the global Transradial Access market is presented in the report, including North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Aside from revenue growth drivers & restraints, production & consumption patterns, changing consumer preferences, and stringent regulatory standards, this report also examines other key aspects of regional markets.
The global transradial access market size was USD 2.00 Billion in 2022 and is expected to register a revenue CAGR of 7.4% during the forecast period. Transradial Access (TRA) is the recommended method for coronary angiography and Percutaneous Coronary Intervention (PCI) as it has a lower risk of bleeding and vascular problems than Transfemoral Access (TFA), increases patient satisfaction, and lowers patient mortality.
The increasing prevalence of coronary artery diseases and cardiovascular diseases, growing prevalence of obesity, and rising adoption of interventional procedures are some of the key factors driving the market revenue growth. In addition, increasing product launches and initiations by leading companies and rising prevalence of lifestyle diseases are contributing significantly to revenue growth of the market.
However, there are some restraints for revenue growth of the global Transradial Access Market. High cost of Transradial Access and product recalls are restraining the market revenue growth. 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.
The North America market accounted for the largest revenue share than other regional markets in the global transradial access market in 2022. The region has established itself as the market leader with a significant market share. A large number of individuals in the region suffer from obesity and diabetes. Because of the obesity epidemic in the United States, a growing proportion of patients have panniculus, which impedes TFA access. Obesity requires inventive patient placement to expose the femoral crease, mandates interventionalist access to atypically deep femoral arteries, and raises the risk of post-procedure bleeding and access site infection. Given that the wrist has less fat than the femoral artery accessing the radial artery in obese individuals overcomes several difficulties. Increasing healthcare expenditures and rising alcohol and cigarette consumption in the region also contribute to the expansion of the industry.
On the basis of end-use, the global transradial access market is segmented into hospitals and clinics, ambulatory surgical centers, and others. The hospitals and clinics segment accounted for the largest revenue in 2022 owing to the high prevalence of highly qualified healthcare professionals, and staff as well as the high percentage of diagnostics tests performed in hospitals and clinics, which is driving the segment revenue growth. Availability of long-term care facilities, as well as continuous patient monitoring, are two major factors driving revenue growth of this segment. The hospitals segment provides several diagnostics tests such as blood tests, Computed Tomography (CT) scans, capsule endoscopy, Magnetic Resonance Imaging (MRI), ultrasound, and other imaging services. As a result, it contributes significantly to revenue growth of this segment.
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. 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.
The report contains updated information about the ongoing COVID-19 pandemic and acts as an accurate analysis of the COVID-19 impact on the Transradial Access market. The report draws attention to the COVID-19 impact on the market and its crucial segments. As per the report, the current pandemic is one of the major contributing elements for the potential decline of the market in the coming years. The business sector has been drastically affected by the pandemic, which has adversely altered the market dynamics and demand trends. Financial difficulties brought by the pandemic have delayed the progress rate of various businesses and disrupted the global supply chains. The report further provides a future impact assessment of the Transradial Access market concerning COVID-19.
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Target Audience of the Global Transradial Access Market Report:
- Key Market Players
- Investors
- Venture capitalists
- Small- and medium-sized and large enterprises
- Third-party knowledge providers
- Value-Added Resellers (VARs)
- Global market producers, distributors, traders, and suppliers
- Research organizations, consulting companies, and various alliances interested in this sector
- Government bodies, independent regulatory authorities, and policymakers
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Major Geographies Analyzed in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Leading manufacturers profiled in the report:
Terumo Corporation, Medtronic, Edwards Lifesciences Corporation., Nipro Medical Corporation, Boston Scientific Corporation, AngioDynamics., Teleflex Incorporated., Penumbra, Inc., Hollister Incorporated, Abbott
Product Type Segmentation & Application Segmentation:
- Product Outlook (Revenue, USD Billion; 2019-2032)
- Catheters
- Guidewires
- Sheaths & Sheath Introducers
- Accessories
- Application Outlook (Revenue, USD Billion; 2019-2032)
- Fluid and nutrition administration
- Drug administration
- Blood transfusion
- Diagnostics and testing
- End-Use Outlook (Revenue, USD Billion; 2019-2032)
- Hospitals and clinics
- Ambulatory surgical centers
- Others
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Additional information offered by the report:
- Along with a complete overview of the global Transradial Access market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.
- The report elaborates on the global Transradial Access market size and share governed by the major geographies.
- It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.
- It further presents a detailed description of the company profiles of the key market contenders.
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