The size of the North America Radial Compression Devices Market is estimated to be growing at a promising CAGR between 2022 to 2027.
Reduced hospital stays due to band use saves patients money on pricey hospital bills, which is one of the market's primary drivers in North America. The market's growth is further expected to be propelled forward by the growing older population and the increased frequency of cardiovascular illnesses. According to data from the American Heart Association on heart disease and stroke, cardiovascular diseases afflict 92.1 million persons in the United States. Because the incision site on band-based devices is smaller, the patient has more mobility, and the risk of infection is lower following surgery. As the cost of surgery falls, the market is expected to expand.
Radial compression devices assist patients in saving money on their medical bills by reducing their stay in the hospital. As a result, the use of radial bands increases, and the market grows. When opposed to transfemoral access, radial access bands allow patients to move around more quickly and have a lower risk of infection at the location. Players in the radial compression devices market should benefit from lower stent prices. Radial artery compression devices have become more popular as percutaneous coronary procedures have increased. The market for radial compression devices in North America is influenced by the rise in cardiovascular disorders due to longer life expectancy.
PCI operations can only be performed through the radial artery because it is smaller than the femoral artery. As a result, it is difficult for caregivers to use a catheter greater than 2 mm diameter. Radial access is not available when the catheter diameter is 2.5 mm. In addition, PCI procedures demand more significant, if not more, guidewire catheters, which is not possible with the radial technique. In North America, such restraints hinder the expansion of the radial compression devices market. The virus's breakout sparked a state-wide lockdown and transportation ban. A transit ban impacted the global supply chain for radial compression devices. Furthermore, the rigorous regulatory constraints imposed by Covid-19 limited the development of these devices.
This research report on the North American radial compression devices market has been segmented and sub-segmented into the following categories.
The radial compression devices market in North America has a wide range of growth potential, drawing new investors. The rise in the incidence of lifestyle disorders, government attempts to build novel technology, and the need for advanced medical services contribute to the market’s growth. Furthermore, the North American area is predicted to develop at the fastest rate during the projection period, owing to increased catheterization-related operations (PCI), a desire for minimally invasive solutions, and increased vascular treatments. VCDs have become more popular due to their convenience of use and fast hemostatic qualities and increased trans-radial artery access.
The United States is predicted to showcase a healthy CAGR during the forecast period. This is attributed to an increase in the prevalence of lifestyle disorders, an aging population, and rising demand for newly released items and innovative technologies. Radial access is used for less than 2% of invasive cardiovascular procedures, according to the American College of Cardiology's National Cardiovascular Data Registry (ACC-NCDR, 2018), demonstrating that the common femoral artery remains the most prevalent arterial access location in the United States.
After the United States, Canada has the largest North American Radial Compression Devices market. The rise of big manufacturing organizations and new domestic competitors who manufacture and distribute top-of-the-line radial compression devices has benefited the Canadian Radial Compression Devices market.
KEY MARKET PLAYERS:
A few major companies dominating the market by their products and services 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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