Transradial Closure Devices Market Size

Transradial Closure Devices Market size was valued at USD 251.85 Million in 2023 and is set to exceed USD 819.46 Million by the end of 2036, registering over 9.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of transradial closure devices is evaluated at USD 273.38 Million. The growth of the market is primarily attributed to the escalating cases of cardiovascular diseases (CVDs) caused by unhealthy lifestyle choices, anxiety, stress, and other factors. As per the World Health Organization (WHO), 17.9 million people worldwide die from CVDs each year, accounting for 32% of all mortalities. The high prevalence of heart strokes, heart attacks, coronary heart diseases, and other CVD diseases is anticipated to increase the demand for transradial closure devices for radial artery closure in patients with maximum satisfaction and minimum irritation.

Transradial closure devices are an advanced medical product that is gaining popularity all over the world owing to their ability to provide a more convenient location for safe calibration while minimizing the risks associated and reducing discomfort for the patients. In addition, the increasing demand for minimally invasive and non-invasive medical procedures, along with the rapid technological breakthrough in large-bore vascular closure devices, are other growth factors that are attributed to creating a positive outlook for market expansion in the upcoming years. Also, massive investments in developing advanced medical products and rising expenditure on healthcare infrastructure development, especially in developing economies, are anticipated to drive market growth in the upcoming years.