Emergen Research’s latest document, titled ‘Global Transradial Access Market’ 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 outcomes 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.
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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.
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.
Research Report on the Transradial Access Market Addresses the Following Key Questions:
- Who are the dominant players of the Transradial Access market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the Transradial Access market?
- What are the key growth drivers and restraining factors of the Transradial Access market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the Transradial Access market and its key segments?
Key Players Profiled in the Report are:
Terumo Corporation, Medtronic, Edwards Lifesciences Corporation., Nipro Medical Corporation, Boston Scientific Corporation, AngioDynamics., Teleflex Incorporated., Penumbra, Inc., Hollister Incorporated, Abbott
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Furthermore, the report provides a comprehensive overview of the Transradial Access market along with product portfolio and market performance. The report offers key insights into market share, supply chain analysis, demand and supply ratio, import/export details, and product and consumption patterns. To gain a better understanding, the report is further segmented into sections such as product types offered by the market, application spectrum, companies, and key geographical regions where the market has established its presence.
Analysis of the segments and their growth projection is carried out by extensive historical and current analysis of the market scenario. Further, the report offers details about the factors and features of the Transradial Access market expected to boost the growth of the industry in the coming years.
Segments Covered in this report are:
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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Regional Outlook of the Transradial Access Market
The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market.
Regional Analysis Covers:
- 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)
Information found nowhere else
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Key Questions Answered in the Report:
- What is the growth rate of the Transradial Access market? What is the anticipated market valuation of Transradial Access industry?
- What are the key growth driving and restraining factors of the Transradial Access market?
- Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
- What are the key opportunities and growth prospects of the Transradial Access industry over the forecast period?
- Which region is expected to show significant growth in the coming years?
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