Major market players are engaged in launching compact, ultra-modern devices with the purpose of targeting diverse end users. Transradial Closure Devices Demand to Swell Due to Rising Cases of Cardiovascular Diseases: Future Market Insights
The global transradial closure devices market will record a CAGR of 6.5% amid the forecast period, 2020-2030. The market will be foreseeing increasing demand from healthcare clinics, independent catheterization centers, and hospitals as it decreases the risk of major access site bleeding.
"RA (Transradial access) being connected to less complications, is majorly favored by the several end users for instance hospitals, ASCs, and others. In the forthcoming years, the application of these devices will thus soar particularly since patients are more willing to spend on procedures that ascertains shorter hospital stays" concludes an FMI analyst.
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- North America is anticipated to lead the global market trailed by Europe.
- Diagnostics application will remain lucrative throughout the projected period.
- Disposable devices remains majorly preferred usage type over the assessment period.
- Band or strap based devices will be propel growth owing to rise in demand for its exclusive attributes.
- Independent Catheterization Centers is likely to capture maximum market share among other end users.
- Growing demand for advance cardiovascular treatment is propelling the sales in the market.
- Clinical studies is likely to boost its application all over various healthcare facilities.
- Growing demand for procedures such as percutaneous coronary intervention (PCI), angioplasty, angiography, and others are spurring market growth.
- Lack of knowledge for proper handling of the device may act as a restraining factor in the global market.
- Difficulties in manufacturing and distribution process amid the extended lockdown period die to COVID-19 outbreak is limited the market growth to a certain extent.
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COVID-19 Impact on the Market
The transradial closure devices market has been hampered due to COVID-19 imposed lockdown. On the other hand, as the virus might have caused cardiovascular concerns, which ensued in upwelling demand in specialized clinics, hospitals, along with other segments. The market has high prospects to overpower the threats positioned by the ongoing outbreak and expand further in the approaching years.
As the global transradial closure devices market is extremely competitive, the prominent market players are engaged in launching advanced technologies as well as devices. Leading market players in the global market includes Merit Medical, Inc., Fisher & Paykel Healthcare Corporation Ltd., Abbott Laboratories, Advanced Vascular Dynamics, Vascular Solution Inc., Beijing Demax Medical Technology Co., Ltd. and Comed B.V.
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About the Study
The study offers readers a comprehensive assessment of the transradial closure devices market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights on the basis product type (band/strap based, knob based, plate based), usage (disposable device, reusable device), application (surgical intervention, diagnostics), end user (hospitals, independent catheterization centers, ambulatory surgical centers, specialized clinics), across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
Table Of Content
- Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
- Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
- Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
- Key Success Factors
4.1. Transradial Closure Devices Adoption Rate/Usage Analysis- Key Statistics
4.2. Key Promotional Strategies, By Key Manufacturers
4.3. Key Regulations, By Region
- Market Background
5.1. Macro-Economic Factors
5.1.1. Global GDP Growth Outlook
5.1.2. Improvement in Healthcare infrastructure
5.1.3. Rise in Healthcare Spending
5.1.4. Increase in global geriatric population
5.2. Forecast Factors – Relevance & Impact
5.2.1. Regulatory approvals
5.2.2. New Product launches
5.2.3. Cost of Products
5.2.4. Incidence of cardiovascular disease
5.3. Market Dynamics
5.3.3. Opportunity Analysis
- COVID19 Crisis Analysis
6.1. Current COVID19 Statistics and Probable Future Impact
6.2. Current GDP Projection and Probable Impact
6.3. Current Economic Projection as compared to 2008 financial analysis
6.4. COVID19 and Impact Analysis
6.4.1. Revenue By Country
6.5. 2020 Market Scenario
6.6. Quarter by Quarter Forecast