Radial compression devices arecategorized as: disposable radial compression devices and reusable radialcompression devices, on the basis of usage type. These devices are mainly usedin hospitals, independent catheterization centers, ambulatory surgical centers,and specialized clinics.
Statistics:
The global RadialCompression Devices Market is estimated to account for US$ 357.7 Mn in termsof value by the end of 2027.
Global Radial Compression DevicesMarket: Drivers
Lower post-proceduralcomplications is expected to boost growth of the global radial compressiondevices market over the forecast period. PCI can be performed by radial approach and also by femoral approach.Market interviews have revealed that approximately 2-8% of patients haveexperienced complication after PCI procedure by femoral approach whereasincidence of complication by radial approach is negligible (~<1%).
Global Radial Compression DevicesMarket: Opportunities
Increasing number of angiographyand angioplasty procedures is expected to offer lucrative growth opportunitiesfor players in the global radial compression devices market. For instance,according to the American College of Cardiology, more than 1.2 millionangioplasties are performed annually in the United States.
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Global Radial Compression DevicesMarket: Restraints
Absence of concrete data onadoption of radial access is expected to hinder growth of the market. Data onadoption of radial compression devices by country is highly fragmented. Thereasons for the same are delayed approval of the process by US FDA and absenceof country-wise guidelines on radial catheterization.
Key Takeaways:
The Band/ Strap Based segment inthe global radial compression devices market was valued at US$ 146.7 Mn in 2019and is expected to reach US$ 291.0 Mn by 2027 at a CAGR of 8.9% during theforecast period. Increasing prevalence of cardiovascular devices is expected toboost growth of the segment over the forecast period
The Diagnostics segment helddominant position in the global radial compression devices market in 2019,accounting for 50.5% share in terms of value. Increasing number of angiographyand angioplasty procedures is expected to assist the growth of the segmentduring the forecasted period
Market Trends
The market is witnessingincreasing M&A activities. For instance, in December 2018, Merit MedicalSystems, Inc. acquired Vascular Insights, LLC, a provider of specialty infusionand occlusion catheter systems.
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The market is also witnessinglaunch of new devices to monitor blood flow through radial artery to preventocclusions post PCI. For instance, in May 2019, IdaHealth, a U.S.-basedcompany, launched a new device called IdaFlo Tr. The wireless devicecontinuously monitors blood flow through the artery.
Global Radial Compression DevicesMarket: Competitive Landscape
Major players operating in theglobal radial compression devices market include, Terumo Corporation, AbbottLaboratories, Vascular Solutions Inc. (a part of Teleflex Incorporated),Advanced Vascular Dynamics, Comed B.V., Merit Medical Systems Inc., and BeijingDemax Medical Technology Co., Ltd.
Global Radial Compression DevicesMarket: Key Developments
May 2019: Cordis, a CardinalHealth company, launched its RADIAL 360 portfolio, offering a complete range ofproducts to facilitate the transradial approach (TRA) for interventional cardiologyprocedures, in the U.S.
January 2020: Terumo Europe NV, apart of Terumo Corporation, launched a new randomized clinical trial thatcompares the novel distal radial access with conventional radial accessapproach, in terms of radial occlusion rates at discharge
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