However, high cost of procedures, and lack of skilled and trained healthcare professionals are some of the factors that hinder the growth of the radial access catheter market.
[UKPRwire, Thu Jul 25 2019] Cardiovascular catheterization is a procedure used to detect blockages and clear them. The traditional method of catheterization is the femoral artery access. Radial access catheterization is another method of cardiovascular catheterization in which the catheter is introduced through the radial artery. Radial Access Catheter is gaining popularity among the interventional cardiologists. This is due to reduced bleeding risk and access site complications. However factors such as lack of training, and high cost of the procedure and equipment restrict the Radial Access Catheter Market Growth.
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Although radial access catheterization is a technically challenging procedure for cardiologists, the patient is more comfortable during the procedure and the risk of bleeding is significantly reduced. This is due to a number of factors including, the small size of radial artery, faster response and wound closure or recovery, thereby decreasing the recovery time significantly. However, due to the small size and more number of twists the procedure may take a longer duration than the traditional method, resulting in increased radiation exposure. Such factors are slowing down the adoption of radial access catheters globally.
Technology advancements, increase in R&D funding and rise in mergers and acquisitions are some opportunities for growth in the radial access catheter market. With increase in R&D for new products that overcome the current drawbacks such as increased radiation exposure and simplifying the procedure could enhance the adoption rate for radial access catheters significantly.
Radial Access Catheter Market: Drivers and Restraints
Increasing prevalence of cardiovascular diseases, changes in lifestyle, increasing use of radial access catheter in pediatric patients, and increasing preference for minimally invasive procedures and interventional cardiology procedures are some of the factors that drive the growth of the radial access catheter market. However, high cost of procedures, and lack of skilled and trained healthcare professionals are some of the factors that hinder the growth of the radial access catheter market.
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Radial Access Catheter market is segmented into product type, applications, end user and regions. Radial Access Catheter can be broadly classified into catheters, guidewires, sheath and sheath introducers and accessories based on product type. The catheters segment is expected to take a substantial share of the radial access catheters market primarily due to the high cost of the product. These radial access catheters are used for a number of applications that include drug administration, blood transfusion, diagnosis, testing and other similar applications.
Radial Access Catheter Market: Regional Outlook
North America and Europe radial access catheter market is expected to occupy the maximum share of the global radial access catheter market. However, increasing adoption of interventional procedures, increase in cardiac diseases and increasing awareness is expected to drive the growth of the radial access catheter market in the Asia Pacific region such that the CAGR of the region is expected to be maximum when compared to the other regions during the forecast period.
Radial Access Catheter Market: Key Players
Some of the Key players in the Radial Access Catheter market include, Ameco Medical, Angiodynamics, Inc., Boston Scientific Corporation, Medtronic plc, Becton, Dickinson and Company, Edward Lifesciences Corporation, Smiths Medical, Teleflex Incorporated, Nipro Medical Corporation, and Terumo Corporation, among others.
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