USD 205.04 Million
Global Radial Artery Compression Devices Market Size, Share, Growth Analysis, By Product(Band/Strap-based Devices, Knob-based Devices), By Usage(Disposable Devices, and Reusable Devices), By End-user(Hospitals, Clinics) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2869 |
Region:
Global |
Published Date: April, 2024
Pages:
220
|
Tables:
92 |
Figures:
70
Global Radial Artery Compression Devices Market Insights
Global Radial Artery Compression Devices Market size was valued at USD 205.04 Million in 2022 and is poised to grow from USD 220.22 Million in 2023 to USD 389.84 Million by 2031, growing at a CAGR of 7.40% in the forecast period (2024-2031).
The global radial artery compression devices market is expected to grow at a healthy CAGR of ~8% during the forecast period. Market growth can primarily be attributed to several factors, including improved patient safety and comfort, significant rise in global geriatric population, fewer post-treatment complications, R&D activities due to talking note also is the sale of different gases during the forecast period will exceed the sales of capillary compression devices.
Advancement in technology along with efficient radial compression devices is anticipated to drive the global radial artery compression devices market. The market is expected to grow due to increasing use of radial access techniques, speeding patient movement and reducing the risk of complications. For example, in March 2022, American Heart is published A case study of the association, where the most widely used radial access is provided either by the involvement of new cardiologists (surgeons) or by rotation of existing practitioners on the action.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Hospital
Fastest Growth
Ambulatory Centers
Growth Rate
7.40% CAGR
Global Radial Artery Compression Devices Market ($ Bn)
Country Share for North America Region (%)
Global Radial Artery Compression Devices Market By End-User ($ Bn)
Global Radial Artery Compression Devices Market By End-User (%)
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Global Radial Artery Compression Devices Market Segmental Analysis
The radial artery compression devices market has been segmented into product, usage, and end user. Based on product, the market is segmented into band/strap-based devices, knob-based devices, plate-based devices, and others. Based on usage, the market is segmented into disposable devices, reusable devices. Based on end user, the radial artery compression devices market is segmented into hospitals, clinics, ambulatory centers, cath lab, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Analysis by End-User
Hospitals are major sites for interventional cardiac care that frequently use radial artery access. Mechanical venous compression plays an important role in these situations, especially after procedures such as cardiac catheterization or percutaneous coronary intervention (PCI). Hospitals use endovascular compression devices to ensure patient safety and check for bleeding or any vascular complications after radial artery access procedures. These devices help with postoperative monitoring all are maintained. Hospitals often establish standardized protocols for radial artery access procedures, and these protocols integrate the use of compression devices. This helps ensure consistency and best practices in post procedure care throughout the hospital. Clinics are essential for the training and education of healthcare professionals, including physicians and nurses, in the proper use of vascular compression devices. Training programs should include device selection, implementation, and management of potential complications.
Ambulatory or outpatient centers segment also perform some interventions related to radial artery access, such as diagnostic angiograms or certain vascular interventions. In these cases, radial artery compression devices can be used to monitor bleeding after the surgery is dealt with. Participating centers generally focus on providing effective and convenient care. Venous compression devices can help reduce recovery time by allowing patients to walk faster.
Analysis by Usage
Disposable segments in the radial artery compression devices are designed for single use, making them easier and less likely to require reprocessing or sterilization. After each procedure, the devices are disposed of, reducing the risk of cross-contamination on the snow. In healthcare programs, infection prevention is the most important. Equipment disposal helps prevent infection by eliminating the potential for infection associated with improperly disinfected or recycled equipment. Hospitals and healthcare facilities using disposable capillary compression devices can experience reduced maintenance costs because there is no need to recondition equipment, sterilization facilities, or associated personnel.
Reusable devices segment can have a lower environmental impact compared to disposable devices because they contain less medical waste. For intensive surgery centers, reusable vascular compression devices may be more cost-effective in the long run. Although the initial investment is substantial, the devices can be reworked and reused, spreading the cost in many directions.
Global Radial Artery Compression Devices Market By End-User (%), 2022 (%)
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Global Radial Artery Compression Devices Market Regional Insights
North America is estimated to have a market share of 39.3%. The increasing incidence of cardiovascular diseases is driving the demand for compression devices in radial compression. For example, as of January 2022, approximately 19.1 million deaths worldwide have been attributed to CVD, according to the American Heart Association. The age-specific mortality rate per 100,000 population was 239.8. The age-adjusted prevalence was 7354.1 per 100,000. By 2020, the highest rates of CVD-related deaths will occur in Eastern Europe and Central Asia, with higher rates also in Oceania, North Africa, Eastern and Central Europe, Sub-Saharan Africa, and Asia Southeast the rates were lowest in the high -income regions Asia-Pacific, North America, Latin America, Western Europe and Australia.
Asia-Pacific is expected to show the highest growth rate in the global radial artery compression devices market during the forecast period, largely due to increasing geriatric population at risk of cardiovascular disease. Key manufacturers operating in the market are focusing on the development of advanced vascular compression devices that can assist in blood clotting without causing damage and alteration of the local vascular system.
Global Radial Artery Compression Devices Market By Geography, 2024-2031
- Largest
- Fastest
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Global Radial Artery Compression Devices Market Dynamics
Drivers
Rising Incidence of Cardiovascular Diseases
- Rising incidence of cardiovascular diseases in developing countries such as India and China are also expected to boost the demand for radial compression technology in the Asia-Pacific region. The global radial artery compression devices market is dominated by hospitals. They prefer hospitals for diagnosis and treatment. Consequently, the market for intravenous compression devices is anticipated to grow throughout the forecast period. For example, according to the American Heart Association, there will be 19 million CVD deaths worldwide by November 2022, representing an 18.7% increase since 2010. New cases of heart disease each year are expected to increase in the year.
Technological Innovations
- Technological innovation involves the integration of technology into radial compression machines. Technological advances improve patient satisfaction and can shorten hospital stays. Automation in radial compression machines helps achieve consistent and controlled pressure that helps reduce the risk of complications, Advances in radial compression machines include a variety of features that help with imaging-navigation systems used during alignment is effective.
Restraints
Risk of Complications Associated with Radial Access Procedures
- The risk of issues such as hemorrhage and radial artery occlusion, leading to hospitalization and high healthcare expenditure, is expected to restrain the growth of the market. Increased government policies can drive market demand has increased awareness of the risks associated with radial encircling surgery. For example, according to an August 2021 article published by Elsevier in the journal Cardiovascular Revascularization Medicine, the article provides information about possible intraoperative and postoperative complications, such as radial artery spasm, catheter kinking, and for arterial dissection or perforation. Factors that increase the risk of these complications are also discussed, including patient- and treatment-related factors.
Growing Number of Products Introduced by Monitoring Companies
- Extensive recycling by regulators during the forecast period is expected to restrain the growth of the global radial artery compression devices market. Several products launched during the forecast period could include it is useful. For example, in May 2021, Cordis, a medical device manufacturer and developer, recalled the SUPER TORQUE MB angiographic catheter with a radiopaque marker band due to the possibility of marker strips leaking or migrating.
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Global Radial Artery Compression Devices Market Competitive Landscape
The competitive environment of the Global Radial Artery Compression Devices Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Established organizations within the industry leverage techniques inclusive of product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position.
Top Player’s Company Profiles
- Terumo Corporation
- Merit Medical Inc.
- Abbott Laboratories
- Vascular Solutions
- ConMed B.V.
- Cardinal Health
- Beijing Demax Medical Technology
- Teleflex Incorporated
- Forge Medical Inc.
- TZ Medical Inc
- Semler Technologies Inc
- Advanced Vascular Dynamics
- MedPlus, Inc.
- Lepu Medical
Recent Developments
- In May 2021, the Society for Cardiovascular Angiography and Interventions (SCAI) 2021 Scientific Meeting in the US. is associated with prolonged and severe pressure,such as radial artery occlusion and hemorrhagic disease. It is made of a hydrophilic polymer that bleeds and potassium ferrate that collects blood solids and proteins to form a seal on the skin.
- On April 26, 2023, medical device company Terumo Europe N.V. announced the start of a new clinical study: Eluting Coronary Stent Systems in Patients with Complex PCI Ultimaster Nagomi Sirolimus Ultimaster Nagomi Helps accelerate coronary artery repair in patients with CVD.
- In September 2022, at the Transcatheter Cardiac Therapy (TCT2022) Conference, the Cardiology Research Foundation (CRF) Annual Scientific Meeting, and one of the world’s leading educational conferences for participating cardiologists, GE Healthcare offers innovations designed to coordinate cardiac care.
Global Radial Artery Compression Devices Key Market Trends
- Rising Effective Government Policies: New hemostasis for radial access procedures is expected to expand the global radial artery compression devices market in North America region significantly owing to improved healthcare, effective government policies, large multinational company base and genetic diseases an increasing therefore, according to a May 2021 article -Strategies have been demonstrated, particularly the Prelude SYNC DISTAL (PSD) radial compression device from Merit Medical Systems, Inc., South Jordan, Utah, and the USA This study aims to PSD and Terumo radial (TR) Band safety data will be compared.
Global Radial Artery Compression Devices Market SkyQuest Analysis
- SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research. Radial Artery Compression Device is one of the key segments of the Arterial Compression Device market. Intravenous compression devices are expected to grow at a tremendous rate. The major factors affecting the growth of the market are; Increasing technological advances in medical devices, increasing economic growth, increasing aging of devices, increasing incidence of heart disease and so on. Coronary heart disease is a disease of the heart that includes vascular disease, systemic problems and bleeding. Mechanical venous compression devices are used to help stop the bleeding in the venous vessels. Trans radial cardiac catheterization is a method for the treatment and diagnosis of certain heart diseases.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 205.04 Million |
| Market size value in 2031 | USD 389.84 Million |
| Growth Rate | 7.40% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Radial Artery Compression Devices Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Radial Artery Compression Devices Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Radial Artery Compression Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Radial Artery Compression Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Radial Artery Compression Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Radial Artery Compression Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Radial Artery Compression Devices Market Report Snapshots
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