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Transfemoral Compression Devices Market Volume Forecast and Value Chain Analysis 2016-2024

Transfemoral Compression Devices Market Volume Forecast

Transfemoral compression devices have been in the market for quite a while. These devices are not regularly used due to high cost as compared to manual compression. The most common access site used for angiography is the femoral artery. After the procedure, the closure of site is usually done by manual compression. These devices have been used in practice to improve the efficiency and safety of such procedures. Increased efficacy in comparison with manual compression has been observed. The first method used for closing the holes in the femoral artery was the use of manual compression. As the holes got bigger, constraints on physicians increased due to rising complications. The increase in complication has resulted in technological innovation and led to the use of transfemoral approach.

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The transfemoral approach is commonly used to obtain arterial access during coronary angiography and amputation procedures. Hemostasis is usually performed through manual compression after removal of sheath. Vascular access site complications arise due to insignificant morbidity which occur after coronary interventional procedures. The percentage of these complications is about 0.5% to 16.8% of procedures performed. The rate of complications depend on the physician experience, the type of intervention applied, and introducer size.

Transfemoral products such as shrinkers are used for above the knee (AKA) and below the knee amputees (BKA). These products are available in wide variety of materials with different compression gradient. These transfemoral devices are prescribed by physician after two to three days of post operation. These devices help to reshape the limb after amputation procedure by increasing the blood flow and reducing the fluid retention in the surrounding area of the amputee’s limb. These transfemoral devices are generally used in hospitals, ambulatory surgical centers, and specialty clinics.

Increasing awareness and benefits related to transfemoral devices in terms of reduction in occurrence of complications and increased efficiency is expected to drive the transfemoral compression devices market during the forecast period. Transfemoral compression devices are the first choice in a number of cardiac catheterization labs across the world, as these provide increased comfort to patients.

Studies have shown that these transfemoral devices have reduced the procedure cost considerably when compared to the femoral compression devices in terms of procedure and hemostasis time and cost of repeating catheterization.

Major drivers of the transfemoral compression devices market are increase in obese population, rise in incidence of chronic diseases, growing awareness, increase in health care expenditure, and technological advancement. The total cost of device, stringent regulatory scenarios, and lack of skilled surgeons are the major restraints of the market. Increased risk of infection during the procedure is likely to hamper the growth of the transfemoral compression devices market during the forecast period. According to the American Academy of Orthopedic Surgeons, the number of arthroplasty surgeries to be conducted in the U.S. by 2030 will reach approximately to 3 million. Therefore, considering the rise in number of procedures in the U.S. alone, the incidence of orthopedic conditions globally shall also increase at a rapid pace creating opportunities in the transfemoral compression devices market.

Geographically, the global transfemoral compression devices market has been segmented into five key regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America leads the global transfemoral compression devices market largely because of increasing population, rising number of neurological surgeries, and technological advancements. North America was closely followed by Europe and Asia Pacific. Asia Pacific is an emerging market for transfemoral compression devices because of increasing health care expenditure in the region and rising demand.

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Key players in the global trans-femoral compression devices market are Abbot Laboratories, 3M Health Care, Paul Hartman AG, BSN medical, Merit Medical Systems, Inc., Vascular Perspectives Ltd., Terumo Corporation, Vascular Solutions, Inc., and TZ Medical, among others.

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