Emergen Research latest document, titled ‘Global Transradial Access Market – Forecast to 2030,’ is one of the most sought-after market reports involving an in-depth analysis of the global Transradial Access market. The report’s authors have offered necessary details on the latest Transradial Access market trends and the crucial parameters impacting both short-term and long-term market growth. Its panoramic view of the Transradial Access industry entails useful insights into the estimated Transradial Access market size, revenue share, and sales & distribution networks. Such helpful market insights are bound to help readers outline this industry’s key outcome in the near future. Those are further intended to assist businesses involved in this sector in sound decision-making and formulating lucrative business plans. The primary addressees of this report include some of the globally renowned venture capitalists. The report offers these individuals a vivid description of the competitive spectrum of the global Transradial Access market.
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.
Our experienced market research team has provided updated information on the ongoing COVID-19 pandemic and its adverse economic impact in the latter segment of the report. The coronavirus outbreak has led to drastic changes in the current Transradial Access business landscape, limiting the growth opportunities for various manufacturers and buyers for the next few years. Besides making speculations about the market’s post-COVID-19 scenario, the report discusses its existing situation. The report eventually offers conclusive data related to the Transradial Access market growth assessed on both regional and global levels.
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Market Scope:
One of the report’s central components is the broad Transradial Access market segmentation that includes the product type gamut, application spectrum, end-user industry landscape, significant geographical regions, and the top market contenders. The report contains unbiased industry expert opinions on the current market scenario, past market performance, production & consumption rates, demand & supply ratio, and revenue generation forecasts over the estimated period. The key players’ financial positions, along with their gross profits, sales volumes, sales revenue, manufacturing costs, and other financial ratios, have been accurately gauged in the report. Furthermore, several analytical tools like investment assessment, SWOT analysis, and Porter’s Five Forces Analysis have been implemented by our analysts’ team to evaluate the production and distribution capacities of the Transradial Access market players.
Highlights of the TOC:
- Report Overview
1.1 Research Scope
1.2 Key Transradial Access market segments
1.3 Major players
1.4 Market analysis by product
1.5 Market analysis by application
1.6 Report timeline - Global Growth Trends
2.1 Global Transradial Access market size
2.2 Latest Transradial Access market trends
2.3 Key growth trends - Competitive Landscape
3.1 Global Transradial Access market key players
3.2 Global Transradial Access size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Transradial Access market
3.5 Mergers, acquisitions, joint ventures, and strategic alliances
Key geographical areas:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Leading Players Profiled in the Report:
Terumo Corporation, Medtronic, Edwards Lifesciences Corporation., Nipro Medical Corporation, Boston Scientific Corporation, AngioDynamics., Teleflex Incorporated., Penumbra, Inc., Hollister Incorporated, Abbott
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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
Key questions addressed in the report:
- What are the key factors driving the global Transradial Access market?
- Who are the key manufacturers in this market space?
- Who are the distributors, traders and dealers of this market?
- What are the market opportunities and risks affecting the performance of the vendors in the global Transradial Access market?
- What are the sales and revenue estimations for the top manufacturers in this market over the projected timeline?
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