Global Radial Artery Compression Devices Market

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

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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 competitive environment of the 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. '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'

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 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.

Rising Effective Government Policies: New hemostasis for radial access procedures is expected to expand the 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.

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.

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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

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