Transradial Access Market Size and CAGR by 2031
The transradial access market size in 2021 stood at US$ 1.77 billion and is projected to reach US$ 3.46 billion by 2031 from US$ 1.95 billion in 2023. The market is expected to register a CAGR of 7.4% during 2023–2031. Miniaturization of transradial access equipment is likely to remain key trends in the market.
Transradial Access Market Analysis
The transradial access devices market is expanding as more people prefer interventional procedures that involve radial artery access. Also, the prevalence of cardiovascular disease related to lifestyle disorders rises, the growing use of radial access devices in pediatric patients, increasing prevalence of obesity & lifestyle diseases, and rising inclination for interventional procedures using radial artery access are driving the transraidial access market.
Transradial Access Market Overview
Transraidial access is used to perform coronary angiography and percutaneous coronary intervention, which lowers the risk of vascular and bleeding complications. Catheters, guidewires, and hemostasis devices and accessories are the most regularly used products. As compared to conventional transfemoral access, transradial access usually has a lower risk of problems and less discomfort. The transradial procedures were introduced to improve patient comfort and safety. Moreover, transradial access operations are typically associated with shorter hospital stays and faster healing times.
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Transradial Access Market: Strategic Insights
Market Size Value in US$ 1,574.97 Million in 2018 Market Size Value by US$ 2,961.79 Million by 2027 Growth rate CAGR of 7.7% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
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Transradial Access Market: Strategic Insights
| Market Size Value in | US$ 1,574.97 Million in 2018 |
| Market Size Value by | US$ 2,961.79 Million by 2027 |
| Growth rate | CAGR of 7.7% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
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Transradial Access Market Drivers and Opportunities
Growing Use of Radial Access Devices in Pediatric Patients to Favor Market
Vascular access is usually needed in hospitalized children for a variety of clinical indications. This requirement may range from short-term or temporary needs to long-term or even permanent access. Various options for vascular access are available to the physician who cares for children to meet the required treatment needs.
The use of radial access in children undergoing PCI can be safe, effective, and comfortable with marginal radiation exposure and may offer a safety advantage as compared to femoral access in infant patient population. There are various types of kits that are available specific to arterial cannulation that comprise a catheter situated over a wire for fast and easy insertion. There is a 20-ga catheter which is an adequate size for older children and adults, and a 22-ga catheter which is preferred for pediatrics and infants.
Technological Developments Improve the Feasibility of Peripheral Therapies
The introduction of novel devices and technology specifically designed for transradial access improves the feasibility and success rate of peripheral therapies. For instance, longer shaft lengths in devices, as well as developments in radial intervention equipment, can improve the treatment of distant lesions by making it easier for operators to access and treat difficult anatomy. Furthermore, developing smaller profile covered stents will expand treatment options and improve procedural safety.
Transradial Access Market Report Segmentation Analysis
Key segments that contributed to the derivation of the transradial access market analysis are product, application, and end user.
- Based on product, the transradial access market is divided into catheters, guidewire, sheath and sheath introducer and accessories. The catheters segment held a largest market share in 2023.
- By application, the market is segmented into medicine, fluid, blood, and diagnostics and testing. The medicine segment held the largest share of the market in 2023.
- In terms of end user, the market is segmented into hospitals, ambulatory surgical centers and others. The hospitals segment held a largest share of the market in 2023.
Transradial Access Market Share Analysis by Geography
The geographic scope of the transradial access market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the market. Nearly 1.2 million US populace is living with Parkinson’s disease; it is the second most common neurodegenerative disorder after Alzheimer’s. Due to prevalence of chronic disorders and the presence of supportive government plans for the development of research regarding transradial access, North America held the largest share in 2023.
Transradial Access Market Report Scope
Transradial Access Market News and Recent Developments
The transradial access market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the transradial access market are listed below:
- Medtronic plc, the global leader in medical technology, today announced it has received CE Mark approval for its radial artery access portfolio, which includes the Rist 079 Radial Access Guide Catheter and Rist Radial Access Selective Catheter. The Rist 079 Radial Access Guide Catheter is the first catheter specifically designed for the unique demands of accessing the neuro vasculature through the radial artery versus access through the transfemoral artery. (Source: Medtronic plc, Press Release, September 2021)
Transradial Access Market Report Coverage and Deliverables
The “Transradial Access Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Transradial access market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Transradial access market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- transradial access market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the transradial access market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product ; Application ; End User and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Frequently Asked Questions
7.4% is the expected CAGR of the intermittent catheters market.
The use of miniature transradial access devices is likely to act as future trend for the transradial access market.
The estimated value of the transradial access market by 2031 will be US$ 3.46 billion.
The 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 are the driving factors impacting the transradial access market.
The North America region dominated the transradial access market in 2023.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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