MEA Radial Compression Devices Market

The MEA Radial Compression Devices Market size is expected to grow at a sluggish rate during the forecast period.

Radial access, such as band-based devices, allows patients to move more quickly because of the smaller incision. Due to these factors, the possibility of infection at the site is significantly lower in radial access than transfemoral access. Therefore, the market is expected to rise. The growing demand for safer angiography procedures is likely to accelerate the radial compression devices market growth during the forecast period. Also, the growing geriatric population is influencing the market because older people are more prone to various chronic diseases such as cardiovascular diseases. The rise in cardiovascular diseases due to increased life expectancy is expected to propel the development of the market.

The leading market players and manufacturers are developing innovative devices to beat the market competitiveness. In addition, the various market strategies like partnerships, mergers, and acquisitions help to gain the market. The use of radial bands shortens hospital stays and helps people save money on high-priced hospital expenses; this is precisely why band-based products are quickly gaining appeal over other traditional ways. This aspect drives the band-based segment's acceptance and revenue growth in the MEA radial compression devices market. In addition, the decrease in stent costs is expected to generate significant growth prospects for industry participants. Furthermore, the cost of stents has been reduced in emerging countries such as Saudi Arabia and the United Arab Emirates, which is expected to accelerate the affordability of PCI procedures in the Middle East and Africa. The market strategies such as mergers, partnerships, and acquisitions strengthen regional market growth. 

However, PCI treatments necessitate larger guidewire catheters or several catheters, which are impossible with the radial approach, limiting market expansion.

This research report on the MEA radial compression devices market has been segmented and sub-segmented into the following categories.

By Product:

• Band/ Strap Based Device
• Knob Based Device
• Plate Based

By Usage:

• Disposable 
• Reusable Devices

By End-user:

• Hospitals
• Independent Catheterization Labs
• Ambulatory Surgery Centres
• Specialized Clinics

By Country:

• KSA
• UAE
• Israel
• rest of GCC countries
• South Africa
• Ethiopia
• Kenya
• Egypt
• Sudan
• rest of MEA

The MEA market is projected to grow at a moderate CAGR during the forecast period. However, the market is expected to receive strong support from factors such as the developments in the healthcare infrastructure, the presence of significant market players, and high healthcare expenditure. In addition, the demand for radial compression devices is increasing due to the region's Y-O-Y growing population. As a result, emerging countries such as UAE, Saudi Arabia, and South Africa are witnessing a spike in the usage of radial compression devices over the forecast period.

South Africa recorded the largest market share in 2020 and is likely to continue during the forecast period. The factors such as the high prevalence of cardiovascular diseases, technological advancements, and rising healthcare spending boost market growth.

UAE is one of the key markets in the MEA. Influential growth factors such as the growing geriatric population, increasing awareness among end-users, government initiatives, and leading pharmaceutical companies contribute to market growth.

On the other hand, Saudi Arabia is estimated to register a promising share in the market. The increasing patient population, the proliferation of diseases, and new product launches by the market players are propelling the market growth.

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 a few of the notable companies operating in the MEA radial compression devices market profiled in this report.