Transradial Access Devices Market Growing Because of the Cost Benefits Associated With It

Global transradial access devices market size is forecasted to reach $24.1 billion by 2023, according to P&S Market Research.

Transradial access devices are medical devices that are used to perform endovascular procedures such as intervention and/or catheterization by accessing transradial artery, to diagnose and treat arterial diseases such as, coronary artery disease, and peripheral artery disease. The global transradial marketsize is projected to grow at a decent rate during the next few years. Cost-benefit associated with transradial artery access, increasing preference of radial artery access for interventional procedures, increasing prevalence of chronic diseases, increasing number of chemotherapy procedures, growing use of radial access devices in geriatric as well as high risk patients, and rising healthcare expenditure are the key factors driving the growth of the transradial access market.

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Transradial access approach offers the advantages of relatively low cost and favorable clinical outcomes, in comparison to transfemoral intervention, and is expected to curb the increasing healthcare expense, majorly faced by developing economies. The major advantage of transradial approach includes cost containment which is reported to be the result of lower risks of major adverse cardiac events (MACE), fewer bleeding events, decreased rate of vascular complications, and reduced stay in hospitals. Several research studies have confirmed the cost benefits of the transradial access approach. For instance, a study conducted at the University of Pennsylvania, titled “Systematic Review and Cost-Benefit Analysis of Radial Artery Access for Coronary Angiography and Intervention”, reported that the transradial approach accounted for $275 less per patient from the hospital perspective, instead of transfemoral approach for catheterization. Therefore, the cost benefits related to the transradial access procedure are expected to drive the growth of the global transradial access devices market in future.

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Various collaborations, acquisitions, and partnerships are transpiring among the players in the market, for the development of transradial access devices. For instance, in August 2014, the interventional division of Bayer AG was acquired by Boston Scientific Corporation, for advancing the latter’s portfolio of transradial access devices for the treatment of cardiovascular diseases. The AngioJet Thrombectomy System was included under the acquisition agreement, which is aimed to be used in the endovascular procedures, for removing blood clots from the blocked arteries. In addition, JetStream Atherectomy System was also included in the agreement, aimed to be used for removal of thrombus and plaques from diseased arteries. After acquisition, the company had launched the AngioJet ZelanteDVT Thrombectomy Catheter for the treatment of deep vein thrombosis and marketed the same in the U.S. and Europe. Thus, increasing acquisitions and partnerships between key players are expected to create new opportunities for the players in the transradial access devices market.

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