Transradial Access Market Analysis to 2027 - BD, Terumo Corporation, Teleflex Incorporated, Medtronic, Smiths Medical, Ameco Medical, Edward Lifesciences

The global transradial access market is US$ 1,574.97 Mn in 2018 and is predicted to grow at a CAGR of 7.7% during the forecast period 2019 – 2027, to reach US$ 2,961.79 Mn by 2027.

The market for transradial access is expected to grow, owing to factors such as rising inclination for interventional procedures using radial artery access, increasing prevalence of obesity & lifestyle diseases and growing use of radial access devices in pediatric patients. However, factors such as product recalls & failures and high costs of vascular access devices are likely to adversely impact the growth of the market in the forecast period.

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The major players operating in the transradial access market include BD, Terumo Corporation, Teleflex Incorporated, Medtronic, Smiths Medical, Ameco Medical, Edward Lifesciences Corporation, Merit Medical Systems, Boston Scientific Corporation, and Nipro Medical Corporation. The market has witnessed various organic as well as inorganic developments during recent years in the transradial access market. During December 2017, Becton, Dickinson & Company completed acquisition of C.R. Bard, Inc. The strong portfolio of Bard and recent innovative pipeline will grow the BD’s opportunities in rising clinical areas, and will enhance the non-US markets for combined company.

Catheters segment is expected to grow at a fast pace over the forecast period

Application Insights

The global transradial access market by application was led by drug administration segment. In 2018, the drug administration segment held a largest market share of the transradial access market, by application. This segment is also expected to dominate the market in 2027 owing to increase use of transradial access devices for drug administration in treatment of cancer and infectious diseases. Moreover, rising incidences of cardiac diseases and cancer are expected to fuel the demand of the segment.

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Strategic Insights

There have been limited developments made in the transradial access market during recent years. However, growth strategies such as approvals, collaborations, and partnerships have been witnessed in the market of transradial access. For instance, during June 2018, Terumo Corporation received CE marking for the Kanshas drug coated balloon (DCB) catheter used in the treatment of lower extremity peripheral arterial disease. Also, during February 2017, Medtronic plc. expanded its coronary portfolio which is including DxTerity Diagnostic Angiography Catheter line and several transradial-specific products including the DxTerity TRA, InTRAkit access kit and TRAcelet compression device.

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