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

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.