The size of the Latin America Radial Compression Devices Market is estimated to hike at a steady CAGR during the forecast period.
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. Factors such as growing demand for safer coronary angiography procedures and a rise in cardiovascular diseases resulting from increased life expectancy are primarily expected to boost the growth of the radial compression devices market in the Latin American region. As a result, leading manufacturers and new domestic competitors have entered the market, producing and distributing superior-class radial compression devices.
Y-O-Y growth in the aging population in the Latin American 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 are further encouraging the growth rate of the market.
The demand for radial compression devices in Latin America 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 countries of Latin America.
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.
This research report on the Latin American radial compression devices market has been segmented and sub-segmented into the following categories.
Geographically, the Latin American market accounted for a moderate share in the global market in 2020 and is predicted to grow at a healthy CAGR 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 significant increase in the aging population, decreased post-procedural problems, and research and development activities contribute to market expansion.
In the radial artery compression devices market, companies should ideally focus on extending their product portfolio, streamlining their product development processes, and rolling out new and improved radial artery compression devices in countries like Mexico and Brazil. During the forecast period, pneumatic radial artery compression devices will outsell mechanical radial artery compression devices.
KEY MARKET PLAYERS:
Abbott Laboratories, Comed B.V., Terumo Corporation, Merit Medical, Inc., Vascular Solution Inc., Advanced Vascular Dynamics, and Beijing Demax Medical Technology co., Ltd. are some of the noteworthy companies operating in the Latin American radial compression devices market profiled in this report.
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