Transradial Access Market Growth Analysis | 2024-2030

Market Insights

The transradial access market was estimated at USD 2.34 billion in 2023 and is likely to grow at a CAGR of 7.17% during 2024-2030 to reach USD 3.81 billion in 2030.

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Market Dynamics

Introduction

Transradial access is employed to perform coronary angiography and percutaneous coronary intervention thanks to the reduced risk of vascular and bleeding complications. A number of the commonly used products include catheters, guidewires, sheaths & sheath introducers, and accessories.

COVID-19 Impact

The COVID-19 outbreak posed significant challenges across verticals worldwide. It impacted the growth of the transradial access market negatively as supply disruptions affected product availability in the market.

Market Drivers

The growth of the transradial access market is primarily driven by the increasing incidence of cardiovascular diseases and diabetes. The expanding geriatric populace and rising prevalence of chronic diseases are likely to bolster the growth of the transradial access market at a significant rate during the review period. In addition to this, a growing emphasis on technological advancement in transradial access is likely to create lucrative opportunities for the players operating in the global market in the coming years.

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Key Players

Key players operating in the market are:

• Becton, Dickinson and Company (US)
• Terumo Corporation (Japan)
• Teleflex Incorporated (US)
• Smiths Medical, Inc. (US)
• Medtronic plc (Ireland)
• Edward Lifesciences (US)
• Merit Medical Systems, Inc. (US)
• Boston Scientific Corporation (US)
• Nipro Corporation (Japan)
• AngioDynamics (US)
• Oscor (US)

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By End-User Type

By end-users, the transradial access market has been bifurcated into hospitals, clinics, and ambulatory care centers, and others. The hospitals segment accounted for the largest market share in 2023 and is projected to register significant growth during the review period. The segment growth can be attributed to the established presence of healthcare infrastructure.

Regional Insights

By region, the North American market accounted for the largest market share in 2023 and is projected to grow at a robust CAGR during the review period. This can be attributed to the increasing prevalence of cardiovascular diseases coupled with the expanding geriatric populace. Additionally, increasing investment in technological advancements is likely to add to the market growth substantially during the review period. The market growth in Asia-Pacific is expected to be driven by increasing spending on healthcare coupled with rising cases of heart diseases.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects transradial access market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The transradial access market is segmented into the following categories.

By Product Type

• Catheters
• Guidewires
• Sheaths & Sheath Introducers
• Accessories

By Application Type

• Drug Administration
• Fluid & Nutrition Administration
• Blood Transfusion
• Diagnostics & Testing

By End-User Type

• Hospitals
• Clinics and Ambulatory Care Centers
• Others

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].