Radial Artery Compression Devices Market Plying for Significant Growth During 2027


 

Market Highlights

Global radial artery compression devices market expected to grow significantly over the forecast period. It is anticipated that the market held a market value of USD 350.65 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 cardiovascular disorders, increasing geriatric devices, and others.

The increasing aging population is likely to affect market growth positively. The aged population is more prone to chronic diseases such as arthritis, kidney diseases, cardiovascular diseases, and others, which is likely to boost the market growth. According to the China National Committee on Aging, about 185 million people were above 60 years of age in 2014 (15.7% of the population), and this number is expected to touch 487 million by 2053 (36.5% of the population) with a rising geriatric population. It is one of the major factors driving the market growth in the Asia-Pacific region and other developing nations.

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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, and others.

On the basis of usage, the market is segmented into disposable devices and reusable devices.

Based on end user, the radial artery compression devices market is segmented into hospitals, clinics, ambulatory centers, cath lab, and others.

Key Players

Some of the major players operating in the global radial artery compression devices market are Terumo Corporation, Medtronic, Merit Medical, Inc., Abbott Laboratories, ADVANCED LIFESCIENCES PVT. LTD, Perouse Medical, HTKD Medical, MEDAS INC, Vascular Solution Inc., Beijing Demax Medical Technology, Advanced Vascular Dynamics, Comed B.V., and others.

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Regional Analysis

Geographically the market has been segmented into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.

Geographically, the Americas is anticipated to dominate the global radial artery compression devices market owing to the presence of the major manufacturers, high healthcare expenditure, huge patient population, increasing adoption of technologically advanced devices. 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 need for better imaging devices, rapidly improving technology and the presence of a huge patient pool. The Middle East and Africa market for radial artery compression device is expected to grow at a steady.

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