Radial Compression Devices Market is Expected to Reach US$ 793.4 Mn by 2025
Posted by Shristi on November 6th, 2019
“The Radial Compression Devices Market is growing at prominent growth rate over forecast period 2019-2025 and expected to reach US$ 44.8 Mn by 2025, due to upsurge in R&D for the development and launch of newer radial compression devices into market”
Precision Business Insights (PBI) in its report titled “Radial Compression Devices Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period from 2019 to 2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
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The radial compression devices market estimated to account for US$ 793.4 Mn by 2025. The dynamics impelling the growth of global radial compression devices market include surge in the prevalence of rise in aging population coupled with surge in prevalence of cardiovascular diseases around the globe. For instance, according to WHO, CVDs are the major cause of death globally and more people die from CVDs than from any other disease. In 2016, approximately 17.9 Mn people died from CVDs that represents approximately 31% of all global deaths. Moreover, rise in R&D for the development of newer products, fundraising from public and private sectors, and surge in adoption of radial approach over femoral are anticipated to burgeon the market over the forecast years. However, stringent regulations for the product approval, product recall, and adoption of alternative products for the radial compression devices are anticipated to hinder the radial compression devices market. For instance, in March 2017, Merit Medical Systems recalled PreludeSYNC radial compression device due to generation of particulate during the manufacturing process may enter the valve that may leads to prevention of complete seal of the inflation valve
Radial compression devices market segmented on the basis of product type, technology, application, end user, and region.
Band/Strap based Devices Dominate the Global Radial Compression Devices Market
Based on product type, the radial compression devices market is segmented into band/strap based, knob based, and plate based. Among all products, band/strap based devices dominated the global radial compression devices market in 2018 and expected to grow at 11.9% CAGR over the forecast period owing to rise in R&D for the development of newer products, easy to use, and better availability of the products compared with other radial compression devices. Moreover, frequent launch of newer products by the market players also boost the market over the forecast years. For instance, in February 2019, Merit Medical Systems launched PreludeSYNC DISTAL Compression Device in the United States, European, Middle Eastern, African and Asia-Pacific markets
North America Accounts for Major Revenue Share for Radial Compression Devices Market
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Precision Business Insights (PBI), radial compression devices market report analyses the market in different regions North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis, North America dominated the global radial compression devices in 2018 and the market is growing at 13.1% CAGR over the forecast period owing to increase in the prevalence of cardiovascular diseases in USA and Canada and rise in the trans-radial procedures. For instance, according to a research study approximately 950,000 cases referred for percutaneous coronary intervention every year and approximately 30 - 40% of procedures performed by trans-radial approach. In addition, Asia Pacific radial compression devices market valued at US$ 73.4 Mn in 2018 and creates lucrative opportunities over the forecast years owing to launch of newer products and expansion of business by the market players into the Asia Pacific region.
Strategic Alliances, Product Approvals, and Launch of Newer Products in Radial Compression Devices Market
Key player’s profiles in the report are Merit Medical Systems, Perouse Medical, Terumo Corporation, Comed B.V., Medtronic plc, and Advanced Vascular Dynamics
By Product Type
By End User
Middle East and Africa (MEA)
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About the AuthorShristi
Joined: September 17th, 2019
Articles Posted: 60
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