Heart conditions such as damaged arteries, structural problems, and blood clots are all examples of cardiovascular disorders. After a transradial procedure, radial artery compression devices are utilised to aid in radial artery hemostasis. Transradial cardiac catheterization is a therapy and diagnostic procedure for certain heart problems. The radial artery compression devices provide safety as well as comfort during the procedure. Some of the key driving factors for the market growth are, technological advancement in medical device technology and increase in prevalence of cardiovascular disorders.
MARKET SCOPE
The "Global Radial Artery Devices Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the Radial artery compression devices market with detailed market segmentation by product, usage and end user. The report provides key statistics on the market status of the leading radial artery compression devices market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on product the market is segmented as, band/strap based devices, knob-based devices, plate based devices and others.
- Based on usage the market is segmented as, disposable devices, reusable devices and others.
- Based on end user the market is segmenetd as, hospitals, clinics, ambulatory centers, cath lab and others.
MARKET DYNAMICS
Drivers:
- Increasing prevalence of cardiovascular disorders is the key driving factor for the market growth.
- Rising geriatric population across the globe is also expected to spur market growth during the forecast period.
- Technological advancements in medical device technology is likely to propel market growth forward during the forecast period.
Restraints:
- Whereas, presence of stringent regulatory framework is expected to hinder market growth during the forecast period.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South and Central America. The radial artery compression devices market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the radial artery compression devices market in these regions.
IMPACT OF COVID-19 ON RADIAL ARTERY COMPRESSION DEVICES MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. According to the current market situation, the report further assesses the present and future effects of the COVID-19 pandemic on the overall market, giving more reliable and authentic projections In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the radial artery compression devices market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from radial artery compression devices market are anticipated to lucrative growth opportunities in the future with the rising demand for radial artery compression devices in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the radial artery compression devices market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Merit Medical Systems
- ADVANCED LIFESCIENCES PVT. LTD
- Terumo Corporation
- Medtronic
- HTKD Medical
- Abbott
- Beijing Demax Medical Technology Co., Ltd.
- Lepu Medical Technology(Beijing)Co.,Ltd
- Comed B.V.
- Cardinal Health