Global Radial Compression Devices Market: Snapshot
Numerous contact radial compressions devices have been used for the compression of the radial artery, especially after a transradial procedure in coronary angiography. The global radial compression devices market has made considerable advances in the past few years. These have been notably underpinned by the advent of technologies that lessen the hemostatis time, improve the process, and reduce the radial artery occlusion (RAO) risk. RAO risks have been significant concerns in causing complications while accessing transracial artery for cardiac catheterization, thus propelling the evolution of the radial compression devices market.
Transradial band devices have emerged as a popular type of contact radial compression devices as they are effective in preserving radial artery patency. Band-based devices are expected to spawn into hundreds of millions of dollars in revenue by 2027-end. Growing numbers of angiography and angioplasty procedures has been the key driver for the demand for contact radial compression devices. Other key product types in the radial compression devices market are knob-based and plate-based devices.
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Global Radial Compression Devices Market: Notable Developments
Several players in the radial compression devices market are focusing on improvising the technologies to improve the efficacy and safety profile for patient populations. Continuous technological improvements by a few of these players are benefitting interventional cardiologists and radiologists in the healthcare industry.
Recently, Merit Medical, a key manufacturer of single-use cardiovascular devices, has in August 2019 announced the launch of its radial compression devices PreludeSync Evo in the U.S. The device is to be used in catheterization procedures to achieve hemostatis at arterial percutaneous access site. The sterile device promises to help better visualization of the puncture site, and also improves patient comfort, contends the manufacturer.
Some of the other companies intending to unveil new technologies in the contact radial compression devices are:
- Comed B.V.
- Beijing Demax Medical Technology co., Ltd.
- Advanced Vascular Dynamics
- Vascular Solution Inc.
- Abbott Laboratories
- Terumo Corporation
Global Radial Compression Devices Market: Growth Dynamics
The morbidity of cardiovascular diseases is one of the key drivers for the growth of the radial compression devices market. Cardiovascular disease had shown marked prevalence in industrialized nations, especially in adult populations. Over the years, numerous developing regions of the world has seen rise in mortality and morbidity due to the prevalence of this chronic disease. This has driven percutaneous coronary angiography procedures in recent years, thereby spurring the application of contact radial compression devices in developed as well as developing countries.
The global radial compression devices market has seen lucrative avenues on account of the development of technologies that reduce the risk of radial artery occlusion. These devices have been useful in shortening hospital stay for patients and in preventing rehospitalisation. A few studies in recent years have evaluated the risk of hemorrhagic complications in the use of contact radial compression devices and found no significant link. The results of such studies are favorable to the steady expansion of the radial compression devices market.
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Growing sales of knob-based devices over the past few years have contributed to sizable revenue generation in the radial compression devices market. Rising numbers of radial coronary angiography procedures in a number of developing economies is also boosting the demands.
Global Radial Compression Devices Market: Regional Analysis
On the regional front, North America and Latin America have been key lucrative medical device manufacturers in the radial compression devices market. This is in large part due to the extensive demands for band-based radial compression devices. On the other hand, growing demands for safer coronary angiography procedures will augment the prospects of developing regions. A notable case in point is Asia Pacific which is anticipated to emerge as a key market.
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