Increasing cases of Cardiovascular Diseases will foster the Radial Compression Devices Market Growth

The research report " Global Radial Compression Devices Market: By Product Type (Band/Strap Based, Knob Based, Plate Based By Technology, Disposable, Reusable), By Application (Diagnostic, Surgical Intervention), By End User (Hospitals, Cardiac Care Centers, Ambulatory Surgical Centers), and Geography– Global/Region/Country Forecast to 2027", The Global Radial Compression Devices market is estimated to reach US$ 793.4 Mn till 2026 and is anticipated to grow at prominent growth rate over the forecast period 2021-2027.

Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on " Global Radial Compression Devices Market: By Product Type (Band/Strap Based, Knob Based, Plate Based By Technology, Disposable, Reusable), By Application (Diagnostic, Surgical Intervention), By End User (Hospitals, Cardiac Care Centers, Ambulatory Surgical Centers), and Geography– Global/Region/Country Forecast to 2027",

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Overview on Prominent key factors affecting Global Radial Compression Devices Market Growth:
The Global Radial Compression Devices market is estimated to reach US$ 793.4 Mn till 2026 and is anticipated to grow at prominent growth rate over the forecast period 2021-2027. A radial compression device is a band recommended after angiography and angioplasty to get rid of bleeding problem. This device also tells about reduced rates of radial artery occlusion after going through invasive coronary procedure. Global radial compression devices Market is witnessing significant CAGR over 2021-2027 due to the key factors such as favorable reimbursement policies, product approvals for new devices, sophisticated healthcare infrastructure in developing countries and low-price procedure cost. The major factor driving the global radial compression devices market is growing aged population, congestive heart breakdown due to the change in lifestyle and prevalence of cardiac disorders like congestive heart failure, angina pectoris as well as myocardial ischemia. For example, almost 17.9 Mn people died due the cardiac illnesses in the year 2016 according to World Health Organization. A few more factors that will impel the market growth are growing adoption of radial compression devices in emerging economies and increasing demand for early stage disease diagnosis. Reduced stay in hospitals with the use of radial compression devices is another major factor to drive the market during forecast period. In 2020, band/strap based segment accounted for larger revenue share and projected to grow with a CAGR of 11.9% from 2021-2027 owing to launch of newer products into market. Hospitals segment expected to create demand for global radial compression devices market over the forecast period. Hospitals segment expanding at a CAGR of 10.9% over the forecast period to reach US$ 271.9 Mn by 2026.

Europe to record huge revenue share in global radial compression devices market:
Europe recorded huge revenue share in 2018 in this industry. This region also recorded a CAGR of 10.6% during the forecast duration owing to the increasing cases of cardiac diseases in the region and rising adoption of trans-radial approaches in UK, Germany and France. For example, nearly 80% of percutaneous interventions are performed by radial approach in France and UK. On the other hand, North America considered to be the second biggest revenue share obtainer in the global compression devices market and anticipated to witness huge growth over the forecast period due to the wide range of key players operating in the region and growing adoption of trans-radial approach in USA.

Launch of Newer Products into Market:
Development and launch of innovative radial compression devices enhance the revenue of the market over the forecast timeframe. For instance, In February 2019, company launched PreludeSYNC DISTAL Compression Device in the United States, European, Middle Eastern, African and Asia-Pacific markets. In February 2017, Medtronic plc launched FDA and CE approved Diagnostic Angiography Catheter line and several transradial-specific products including TRAcelet, a radial compression device.

Competitive Assessment:
Industry players are giving more focus on new product launchings and partnership strategies survive and make the crucial place in the global market. Some of the key players working in the global market are Merit Medical Systems, Perouse Medical, Terumo Corporation, Comed B.V., Medtronic plc and Advanced Vascular Dynamics.

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