The size of the Asia Pacific Radial Compression Devices Market is predicted to be growing at a healthy rate between 2022 to 2027.
The demand for radial compression devices in the Asia Pacific dropped dramatically in the first half of 2020 due to lockdown and social distancing barriers imposed as a result of the spread of coronavirus disease throughout the region. However, one of the growing demands for safer coronary angiography procedures will boost growth in Asia Pacific developing countries. As a result, leading manufacturers and new domestic competitors have entered the market, producing and distributing superior-class radial compression devices.
Y-O-Y rise in the incidence of cardiovascular diseases is another significant factor promoting the growth rate of the radial compression devices market in the APAC region. Furthermore, radial access, such as band-based products, allows patients to move more quickly because the incision is smaller and the risk of infection at the site is much lower than with transfemoral access. In addition, Y-O-Y growth in the aging population across the APAC region, improved life expectancy, a greater focus on enhancing staff education, and decreased post-procedural complications, among other factors, are expected to accelerate the adoption of radial artery compression devices during the forecast period in this region.
The radial route for PCI treatments has been limited because the radial artery is narrower than the femoral artery. A catheter with a diameter greater than 2 mm is difficult for caregivers to use. Furthermore, when a catheter with a diameter higher than 2.5 mm is used, radial access is not permitted. Larger guidewire catheters or the deployment of more than two catheters simultaneously are required for some PCI procedures, which are not possible with a radial approach. As a result of these restrictions, growth is expected to be hindered during the forecast period.
This research report on the APAC radial compression devices market has been segmented and sub-segmented into the following categories.
The Asia Pacific radial compression devices market is predicted to accelerate at a healthy pace during the forecast period due to increased products and exports, with imports being the most important factor. In addition, improved patient safety and comfort, a large increase in the aging population, decreased post-procedural problems, and research and development activities. Therefore, companies operating in the radial artery compression devices market should ideally focus on extending their product portfolio, streamlining their product development processes, and rolling out new and improved radial artery compression devices in China and India. As a result, during the forecast period, pneumatic radial artery compression devices will outsell mechanical radial artery compression devices.
The regional radial compression devices market is likely to benefit from lower stent pricing, which would provide profitable growth possibilities. The high cost of cardiac stents has limited their use in emerging economies. However, the cost of stents has recently fallen in some Asia Pacific countries, which is likely to increase the affordability of PCI treatments in the region.
During the forecast period, China, followed by India, is expected to account for the most significant share in the APAC market.
KEY MARKET PLAYERS:
This report profiled companies that dominate the APAC radial compression devices market include Abbott Laboratories, Comed B.V., Terumo Corporation, Merit Medical, Inc., Vascular Solution Inc., Advanced Vascular Dynamics, and Beijing Demax Medical Technology co., Ltd.
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