Radial Compression Devices Market, By Product Type (Band/ Strap Based, Knob Based, and Plate Based), By Usage (Disposable Device and Reusable Device), By Application (Surgical Intervention and Diagnostics), By End User (Hospitals, Independent Catheterization Centers, Ambulatory Surgical Centers, and Specialized Clinics), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) -

Published In : May 2023

Code : CMI3542

Pages :130

Formats :

Excel and PDF

Industry : Medical Devices

Market Challenges And Opportunities

Global Radial Compression Device Market: Restraint

Risk of complications associated with radial access procedures

The risk of issues including bleeding and radial artery obstruction, which result in hospitalization and high healthcare costs, is anticipated to restrain market growth. Increased government initiatives may enhance market demand and raise awareness of the risks associated with radial access surgery. For instance, according to an article published by Elsevier in the journal of Cardiovascular Revascularization Medicine in August 2021, the article provides information on the possible complications that can occur during and after the procedure, such as radial artery spasm, catheter kinking, and arterial dissection or perforation. It also discusses the factors that increase the risk of these complications, such as patient-related factors and procedure-related factors.

Increasing number of product recalls by regulatory bodies

Over the course of the forecast period, regulatory agencies' increasing use of product recalls is anticipated to restrain the growth of the global market for radial compression devices. Over the predicted timeframe, more product launches may be beneficial. For instance, in May 2021 Cordis, a developer and manufacturer of medical devices, recalls SUPER TORQUE MB Angiographic catheter with radiopaque marker bands due to potential for marker bands to move or dislodge.

Global Radial Compression Device Market: Key Trends

Better Healthcare Infrastructure, Effective government policies

Due to improved healthcare infrastructure, effective government policies, a sizable base of multinational corporations, and rising genetic illnesses, the radial compression device market is expected to witness considerable expansion in the North American region. According to the article released in May 2021, for radial access procedures, novel hemostasis strategies have been disclosed, notably the Prelude SYNC DISTAL (PSD) radial compression device from Merit Medical Systems, Inc., South Jordan, Utah, and USA. This study aimed to compare the safety profiles of PSD and Terumo radial (TR) Band.