The World Health Organization (WHO) defines cardiovascular diseases (CVDs) as a group of heart and blood vessel disorders that include coronary heart disease, cerebrovascular disease, peripheral arterial disease, rheumatic heart disease, congenital heart disease, and deep vein thrombosis and pulmonary embolism. According to the WHO, around 17.9 million human lives were lost due to CVDs in 2019, accounting for nearly 32% of all global deaths. The increasing prevalence of such heart-related diseases is, therefore, creating a huge requirement for transradial access devices, owing to the low cost and favorable clinical outcomes offered by them.
Browse In-depth Transradial Access Devices Market Research Report
Moreover, the surging incidence of cancer will also help the transradial access devices market showcase a CAGR of 8.4% during 2018–2023. The market revenue is expected to rise from $14.9 billion in 2017 to $24.1 billion by 2023. As per the International Agency for Research on Cancer (IARC), 19.3 million cancer cases were recorded in 2020. Furthermore, IARC estimates that 10 million global deaths were caused due to cancer in the same year. Several studies are being conducted to determine the benefits of the transradial approach for transarterial chemoembolization for cancer.
Additionally, transradial access device manufacturers are heavily investing in research and development (R&D) for improving their products and developing technology for reducing fluoroscopy time and minimizing radiation exposure. Furthermore, R&D initiatives also aim to develop novel technologies to minimize radial artery injury and occlusion. Advanced devices being developed by such manufacturers will be beneficial for morbidly obese patients, geriatric patients, individuals suffering from critical vascular diseases, and people on oral anticoagulation living with a high risk of vascular access site bleeding.
According to P&S Intelligence, Europe led the transradial access devices market in the preceding years, due to the rising prevalence of CVDs, surging cases of cancer, and increasing acceptance of transradial intervention (TRI) as a default strategy for percutaneous coronary intervention (PCI), in the region. Additionally, the soaring number of outpatient clinics offering same-day discharge by catheterization laboratory performing TRI will also fuel the adoption of such medical devices in Europe.
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