Transradial Closure Devices Market Share

North American Market Forecast   

 North America industry is likely to account for largest revenue share of 37% by 2037, driven by high prevalence of heart disease in the region along with the increasing geriatric population, and accessibility of advanced healthcare facilities.According to the Centers for Disease Control and Prevention, cardiovascular disease claims one life in the United States every 34 seconds. Moreover, in 2020, approximately 697,000 people in the United States died from heart disease, accounting for 1 out of every 5 deaths. Also, the rising cases of chronic diseases, along with the increased number of patients diagnosed with cardiovascular diseases are anticipated to increase the utilization rate of transradial closure devices for performing surgeries such as coronary artery bypass grafts during the analysis period. Further, the presence of a strong healthcare network in the region, along with the availability of supportive policies by the regulatory bodies that promote the market players to opt for the development of advanced vascular closure devices to reduce the pain of patients and eliminate the associated risks, are also anticipated to contribute to the market’s growth in the region. In addition, the region's expanding healthcare industry and rising commercialization of medical products are also anticipated to boost market growth during the forecast period.

Europe Market Forecast

Furthermore, it is anticipated that the transradial closure device market in Europe will rank second, with a proportion of about 35% by the end of 2036. The market is benefiting from developments in key end-use sectors like hospitals, specialty clinics, independent catheterization centers, and others.  According to the WHO, cardiovascular disease is responsible for more than half of all deaths in Europe, and 80 percent of premature heart disease and stroke can be avoided. Additionally, as more people become aware of ways to improve cardiovascular health, there is a huge increase in demand for transradial closure devices.

APAC Market Statistics

Additionally, it is anticipated that by the end of 2037, the South Asia area will hold a satisfactory share of the market share among all other regions.  With consistent development in recent years, South Asia has emerged as a viable market for transradial devices. According to the World Health Organization, South Asia's healthcare sector is gradually expanding. Over the course of the forecast period, the South Asian transradial closure devices market is anticipated to grow owing to the growing use of these devices in surgical and diagnostic operations.