Market Overview:
The global transradial closure device market is expected to grow at a CAGR of 7.5% from 2018 to 2030. The growth in this market can be attributed to the increasing incidence of cardiovascular diseases, technological advancements in transradial closure devices, and rising demand for minimally invasive procedures. The disposable device segment is expected to dominate the global transradial closure device market during the forecast period. This segment is anticipated to grow at a CAGR of 8% from 2018 to 2030. The growth in this segment can be attributed to the increasing preference for disposable devices over reusable devices and growing demand for minimally invasive procedures. The surgical intervention application segment is expected to dominate the global transradial closure device market during the forecast period.
Product Definition:
A transradial closure device is a medical device that is used to close an opening in the radial artery. The radial artery is located in the arm, and this device helps to seal off the opening and reduce the risk of bleeding.
Disposable Device:
A disposable device is a medical instrument or an electronic device that is used once and then gets disposed of after use. The growth factor in the market for disposable devices is mainly due to factors such as rising demand for minimally invasive surgeries, increasing prevalence of chronic diseases leading to higher hospital admission rates, growing geriatric population base and rising healthcare expenditure levels in developing countries.
Reusable Device:
A reusable device is a medical device which is intended for single-use or limited use. It can be used multiple times and the number of times it can be used depends on the type of reusable devices. Some common examples include catheters, guidewires, stents, thermometers & temperature probes and syringes among others.
Application Insights:
Based on application, the global transradial closure device market is segmented into surgical intervention and diagnostics. The surgical intervention segment dominated the overall market in terms of revenue in 2017. This can be attributed to a high incidence rate of cardiovascular diseases and rising number of cardiac surgeries across the globe. According to WHO, around 1 in 3 deaths occur due to CVDs globally which indicates a huge opportunity for devices such as TCDs that help prevent these diseases by sealing off blood vessels after surgery.
The diagnostics segment is expected to grow at a lucrative rate over the forecast period owing to an increasing number of initiatives taken by regulatory authorities worldwide regarding early diagnosis and treatment of various heart conditions including arrhythmia, heart valve problems & stroke-causing blood clots which indicate high demand for diagnostic procedures thus driving growth during this period.
Regional Analysis:
North America dominated the global market in 2017 owing to factors such as favorable reimbursement policies, increasing incidence of cardiovascular diseases and cancer, and rising adoption of minimally invasive surgeries. The U.S.
Asia Pacific is expected to witness lucrative growth over the forecast period owing to improving healthcare facilities & infrastructure coupled with growing awareness about transradial closure devices among patients seeking medical assistance from remote locations thereby boosting demand for TCDs in this region.
Growth Factors:
- Increasing incidence of cardiovascular diseases (CVDs)
- Rising geriatric population
- Growing demand for minimally invasive procedures
- Technological advancements in closure devices
- increasing healthcare expenditure
Scope Of The Report
Report Attributes
Report Details
Report Title
Transradial Closure Device Market Research Report
By Type
Disposable Device, Reusable Device
By Application
Surgical Intervention, Diagnostics
By Companies
Merit Medical, Abbott Laboratories, Fisher & Paykel, Vascular Solution, Advanced Vascular Dynamics, Comed, Beijing Demax Medical Technology
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
239
Number of Tables & Figures
168
Customization Available
Yes, the report can be customized as per your need.
Global Transradial Closure Device Market Report Segments:
The global Transradial Closure Device market is segmented on the basis of:
Types
Disposable Device, Reusable Device
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Surgical Intervention, Diagnostics
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Merit Medical
- Abbott Laboratories
- Fisher & Paykel
- Vascular Solution
- Advanced Vascular Dynamics
- Comed
- Beijing Demax Medical Technology
Highlights of The Transradial Closure Device Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Disposable Device
- Reusable Device
- By Application:
- Surgical Intervention
- Diagnostics
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Transradial Closure Device Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A transradial closure device is a medical device that is inserted through the side of the ribcage to close off an airway.
Some of the key players operating in the transradial closure device market are Merit Medical, Abbott Laboratories, Fisher & Paykel, Vascular Solution, Advanced Vascular Dynamics, Comed, Beijing Demax Medical Technology.
The transradial closure device market is expected to register a CAGR of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Transradial Closure Device Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Transradial Closure Device Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Transradial Closure Device Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Transradial Closure Device Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Transradial Closure Device Market Size & Forecast, 2020-2028
4.5.1 Transradial Closure Device Market Size and Y-o-Y Growth
4.5.2 Transradial Closure Device Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Disposable Device
5.2.2 Reusable Device
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Surgical Intervention
6.2.2 Diagnostics
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Transradial Closure Device Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Transradial Closure Device Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Disposable Device
9.6.2 Reusable Device
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Surgical Intervention
9.10.2 Diagnostics
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Disposable Device
10.6.2 Reusable Device
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Surgical Intervention
10.10.2 Diagnostics
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Disposable Device
11.6.2 Reusable Device
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Surgical Intervention
11.10.2 Diagnostics
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Disposable Device
12.6.2 Reusable Device
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Surgical Intervention
12.10.2 Diagnostics
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Disposable Device
13.6.2 Reusable Device
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Surgical Intervention
13.10.2 Diagnostics
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Transradial Closure Device Market: Competitive Dashboard
14.2 Global Transradial Closure Device Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Merit Medical
14.3.2 Abbott Laboratories
14.3.3 Fisher & Paykel
14.3.4 Vascular Solution
14.3.5 Advanced Vascular Dynamics
14.3.6 Comed
14.3.7 Beijing Demax Medical Technology
