In a recent published report, Kenneth Research has updated the market report for Radial Artery Compression Devices Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Radial Artery Compression Devices Market products.
The global radial artery compression device is one of the major segment of the artery compression device market. The global radial artery compression devices market expected to grow significantly over the forecast period. It is anticipated that the market held a value of USD 350.56 million in 2018 and is projected to grow at a CAGR of 7.9% over the forecast period. Radial artery compression devices are expected to grow at a significant growth rate. The major factors influencing the growth of the market include; increasing growth in technological advancement in the field of medical devices, rising economic growth, increasing geriatric devices, increasing cardiovascular disorders, and others.
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Cardiovascular disorders are heart conditions that include diseased vessels, structural problems, and blood clots. Radial artery compression devices are used to assist hemostasis of the radial artery after a transradial procedure. Transradial cardiac catheterization is a technique used for the treatment and diagnosis of certain heart conditions.
The increasing cardiovascular rate is eventually driving the growth of the radial artery compression devices market. For instance, according to the American Heart Association, in 2014, around 31% of the deaths in the US were due to cardiovascular disorders. Similarly, as per the American Heart Association, around USD 555 billion was spent in the Americas for the treatment of cardiovascular disorders. Additionally, according to the European Heart Network, in 2015, there was 85 million population living with cardiovascular disorders in Europe.
The high occurrence rate of cardiovascular diseases (CVD) globally relates to the high prevalence of well-known risk factors such as hypertension, smoking, dyslipidemia (high cholesterol), diabetes, obesity, and unhealthy lifestyle. The US tops the chart as the most obese country in North America with 36.2% of its total population having a body mass index of over 30.0. Thus, the increasing occurrences of obesity are likely to fuel the cardiovascular patient pool indirectly, thus spurring the demand for the radial artery compression devices market.
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Segmentation
The global radial artery compression devices market has been segmented into product, usage, and end user.Based on product, the market is segmented into band/strap based devices, knob-based devices, plate-based devices, othersOn the basis of usage, the market is segmented into disposable devices, reusable devicesBased on end user, the radial artery compression devices market is segmented into hospitals, clinics, ambulatory centers, cath lab, and others.The global radial artery compression devices market, by region, has been segmented, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The radial artery compression devices market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European radial artery compression devices market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.
The radial artery compression devices market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The Radial Artery Compression Devices market in the Middle East & Africa has been segmented into the Middle East and Africa.
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Key Players
Terumo Corporation
Merit Medical, Inc.
Medtronic
ADVANCED LIFESCIENCES PVT. LTD
Perouse Medical
HTKD Medical
MEDAS INC
Abbott Laboratories
Vascular Solution, Inc.
Advanced Vascular Dynamics
Comed B.V.
Beijing Demax Medical Technology
Geographically, the Americas is anticipated to dominate the global radial artery compression devices market owing to the presence of a huge cardiovascular disorders patient population, increasing adoption of advanced technology in the field of medical device, high healthcare expenditure, and the presence of major players in the region.
Europe is expected to hold the second largest position in the global radial artery compression devices market.Asia-Pacific is the fastest growing radial artery compression devices market owing to the increasing geriatric population, the presence of a huge patient pool and rapidly improving the technology.The Middle East and Africa market for radial artery compression devices is expected to grow at a steady pace.
Global Radial Artery Compression Devices Market, by Product
Band/Strap Based Devices
Knob-Based Devices
Plate-Based Devices
Others
Global Radial Artery Compression Devices Market, by Usage
Disposable Devices
Reusable Devices
Global Radial Artery Compression Devices Market, by End User
Hospitals
Clinics
Ambulatory Centers
Cath lab
Others
Global Radial Artery Compression Devices Market, by Region
Americas
North America
US
Canada
South America
Europe
Western Europe
Germany
France
Italy
Spain
UK
Rest of Western Europe
Eastern Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
Middle East & Africa
Middle East
Africa
Intended Audience
Radial artery compression devices manufacturers
Radial artery compression devices distributors
Hospitals, clinics, and associations
Private insurance companies
Government agencies
Various research and consulting firms
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