Radial Compression Devices Market

Radial Compression Devices Market, By Product Type (Band/ Strap Based, Knob Based, and Plate Based), By Usage (Disposable Device and Reusable Device), By Application (Surgical Intervention and Diagnostics), By End User (Hospitals, Independent Catheterization Centers, Ambulatory Surgical Centers, and Specialized Clinics), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030

Radial compression devices are used to prevent bleeding at the radial artery access site after cardiovascular interventions. Tourniquets, mechanical compression devices, and air-inflatable bladder compression devices are among the types of radial compression devices available. By reducing the risk of complications like radial artery occlusion, these devices ensure that the radial artery can be used for future procedures and as a conduit for coronary artery bypass grafts. Radial compression devices are utilized to safely close radial access following percutaneous cardiovascular interventions. These devices offer a hands-free and dependable compression method while simultaneously providing support to the patient's hand to promote greater comfort. The primary objective of using these devices is to attain and uphold hemostasis after removing radial arterial sheaths that is crucial in preventing any complications that can arise from accessing the site. Increasing occurrence of cardiovascular diseases, combined with simplified post-procedural methods, is expected to drive the global radial compression device market growth in the near future.

Market Dynamics

In order to enhance their offerings and provide a wide range of radial compression devices, key market players are adopting growth strategies such as acquisition. This strategy includes adding advanced devices, disposable and reusable devices to their product portfolio. These strategies are intended to guarantee that consumers receive a wide range of radial compression devices. Such strategies have been attributed to the growth of the global radial compression device market. For instance, in December 2021, according to report published by American College of Cardiology/American Heart Association (AHA) Joint Committee on Clinical Practice Guidelines, The American Heart Association, in conjunction with the National Institutes of Health, annually reports a reduced risk of CVD mortality (25%–40% risk reduction), all-cause mortality (22%–35%), breast cancer (12%–17%), prostate cancer (9%–10%), and depression (17%–31%) while experiencing better quality of life, healthier aging trajectories, and improved cognitive functioning.

Key features of the study:

This report provides an in-depth analysis of the global radial compression devices market and provides market size (US$ Million) and compound annual growth rate (CAGR) for the forecast period (2023–2030), considering 2022 as the base year

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players

It profiles key players in the global radial compression devices market based on the following parameters–Company highlights, products portfolio, key highlights, financial performance, and strategies

Key companies covered as a part of this study include Terumo Corporation, Abbott Laboratories, Vascular Solutions Inc., Semler Technologies, Inc., Comed B.V., Merit Medical Systems Inc., Beijing Demax Medical Technology Co., Ltd., Cardinal Health, and Medtronic, Plc.

Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.

The study on the global radial compression devices market serves a range of industry participants, including financiers, suppliers, manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global radial compression devices market.

Detailed Segmentation:

Global Radial Compression Devices Market, By Product Type:

Band/Strap Based

Knob Based

Plate Based

Global Radial Compression Devices Market, By Usage:

Disposable Device

Reusable device

Global Radial Compression Devices Market, By Application :

Surgical Intervention

Diagnostic

Global Radial Compression Devices Market, By End User:

Hospitals

Independent Catheterization

Ambulatory Surgical Centers

Specialized Clinics

Global Radial Compression Devices Market, By Region:

North America

By Country:

U.S.

Canada

Latin America

By Country:

Brazil

Mexico

Argentina

Rest of Latin America

Europe

By Country:

Germany

U.K.

France

Italy

Spain

Russia

Rest of Europe

Asia Pacific

By Country:

China

India

Japan

Australia

South Korea

ASEAN

Rest of Asia Pacific

Middle East

By Country:

GCC

Israel

Rest of Middle East

Africa

By Country/Region:

South Africa

Central Africa

North Africa

Company Profiles

Terumo Corporation*

Company Highlights

Products Portfolio

Key Highlights

Financial Performance

Strategies

Abbott Laboratories

Vascular Solutions, Inc.

Semler Technologies, Inc.

Comed B.V.

Merit Medical Systems, Inc.

Beijing Demax Medical Technology Co., Ltd.

Cardinal Health

Medtronic, Plc.

“*” marked represents similar segmentation in other categories in the respective section.