Transradial Closure Devices Market Analysis

End-user (Hospitals, Ambulatory Surgical Centers, Independent Catheterization Centers, Specialized Clinics)

The global transradial closure devices market is segmented and analyzed for demand and supply by end-user into hospitals, ambulatory surgical centers, independent catheterization centers, and specialized clinics. Out of these segments, the independent catheterization centers segment is estimated to significantly grow over the forecast period on the back of rising occurrences of cardiovascular diseases, along with the advancement in the medical imaging and visualization systems, people’s preference for an alternative to surgery, and the advantage of minimally invasive tests and treatments offered by independent catheterization centers. All these, factors are leading people to prefer catheterization centers to treat CVDs-related health issues. For instance, a report of 2022 stated that more than 1,00,000 cardiac catheterization processes are conducted in the United States each year. On the other hand, the hospital segment is also expected to hold a significant share of the market owing to the large patient pool visiting hospitals daily and the surgical procedures occurring in hospital settings. In addition, government support to improve hospital infrastructure along with favorable reimbursement policies propels the population to adopt transradial closure devices from hospitals, thus expanding the segment size. 

Product (Band/Strap, Knob, Plate Based)

The global transradial closure devices market is also segmented and analyzed for demand and supply by product into band/strap-based, knob-based, and plate-based. Out of these three segments, the band/strap-based segment is attributed to garner the highest segment share by 2037. The easy availability and ease to handle of band/strap-based transradial closure devices are considered to be the major factor in segment growth. Also, band/strap-based transradial closure devices have several advantages, such as the captivity to selectively compress the radial artery to enable blood flow while maintaining patency, the availability of preferred band lengths for an exact fit and enhanced patient comfort, and others, that make it an ideal medical product during surgical procedures.

Our in-depth analysis of the global market includes the following segments: