Transradial access devices are utilized in the endovascular or catheterization procedure to execute the analysis and treatment of any kind of the arterial disease. Its kit includes various minor components such as catheters, accessories, sheaths and sheath introducers and guidewires. The global transradial access devices market is growing at significant rate, due to mounting occurrence of lifestyle associated diseases and technological improvements. Different products contributed to the transradial access devices market size. The market has witnessed high demand for catheters over the last few years due to budding amount of interventional and angiography procedures.
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The lack of skilled professionals, high costs involved in the placement and maintenance of vascular access devices, risks associated with radial access devices, and product recalls and failures are the major challenges for the growth of transradial access devices market.
Globally, the manufacturing companies trying to enter the transradial access devices market are required to maintain stringent regulatory standards. Moreover, the high level of capital requirement also poses a major barrier for the entry of new players. This offers an edge to the established players in the industry competition.
Geographically, North American is the largest transradial access devices market as in the region the occurrence of cardiovascular disease is increasing. For instance, according to Centers of Disease Control and Prevention (CDC), in the U.S. approximately 610,000 people die every year due to heart disease. Moreover, according to CDC, approximately 370,000 people die annually due to coronary heart disease in the U.S. It is the most common type of heart disease in the U.S.
Mounting occurrence of cancer, upsurge in clinical trials and research for vascular access devices, expanding geriatric population, improved healthcare infrastructure, and increasing number of conferences, and workshops are also up surging growth of the North American transradial access devices market. For instance, according to the U.S. Census Bureau, in 2012 approximately 43.1 million people were aged 65 years and older in the U.S. and is expected to reach 83.7 million in 2050.
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Key players in the transradial access devices market are catering the demand of these devices by investing on technologically advanced products in their product portfolio across the globe. In May 2018, Medtronic Plc announced advanced SynergyTLIF workflow, an integrated fully navigated procedure with less surgical procedures for lumbar spine surgery. Moreover, in February 2017, Medtronic Plc received FDA and CE clearance for DxTerity Diagnostic Angiography Catheter line and transradial-specific products such as TRAcelet compression device, DxTerity TRA, and InTRAkit access kit.
Becton, Dickinson and Company, Merit Medical Systems, Terumo Corporation, Teleflex Incorporated, Boston Scientific Corporation, Ameco Medical, Smiths Medical, Nipro Medical Corporation, Medtronic PLC, Angiodynamics, Inc, Edward Lifesciences Corporation, and Oscor Inc. are the key players offering transradial access devices.
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