Radial Artery Compression Devices Market Size (2024 - 2029)

Radial Artery Compression Devices Market Analysis

The Radial Artery Compression Devices Market size is estimated at USD 214.30 million in 2024, and is expected to reach USD 303.10 million by 2029, growing at a CAGR of 7.20% during the forecast period (2024-2029).

Radial artery compression devices achieve hemostasis (stop bleeding) and maintain pressure at the radial artery puncture site following diagnostic or interventional procedures performed through radial artery access. These devices are specifically designed to provide controlled compression and ensure the seal of the radial artery. An increase in the number of surgeries and innovative product launches are some factors that drive the market.

• Cardiovascular diseases, like peripheral artery disease, are global health concerns. For instance, as per the data published by the National Center for Chronic Disease Prevention and Health Promotion in November 2023, globally, an estimated 523 million were living with cardiovascular diseases (CVD) in 2022, and this is expected to increase over the coming years due to the various lifestyle changes such as smoking, alcohol consumption, etc. Thus, the rising burden of cardiovascular disease cases is expected to drive the demand for radial artery compression devices as the device helps reduce bleeding complications associated with radial artery access procedures during cardiovascular interventions.
• Furthermore, as the demand for radial artery compression devices continues to rise, companies are adopting different strategies, such as new product development and geographical expansion, by setting up manufacturing facilities to cater to the increasing requirements of patients worldwide. For instance, in February 2024, Terumo Medical Corporation opened a new manufacturing facility in Caguas, Puerto Rico, to expand production to meet the growing demand for the company's Angio-Seal vascular closure device. The expansion of the manufacturing facility boosts product volume, increasing the number of devices available in the market. This is expected to meet the growing requirement of the devices and drive the market.
• Therefore, the continuous increase in cardiovascular disease cases and the expansion of various manufacturing facilities of market products are projected to drive the market's growth over the coming years. However, variability in reimbursement policies across countries and potential complications at the body's access site, like hematoma, are some factors expected to hinder the market's growth during the forecast period.

Radial Artery Compression Devices Industry Segmentation

As per the report's scope, a radial artery compression device is designed to assist in hemostasis of the radial artery after specific medical procedures, particularly cardiac catheterization or coronary angiography. The device reduces bleeding complications and provides functionality and consistent performance after surgical procedures.

The radial artery compression devices market is segmented into products, usage, applications, end-user, and geography. By product type, the market is segmented into band/strap-based, knob-based, and plate-based. By usage, the market is segmented into replaceable devices and reusable devices. By application, the market is segmented into surgical intervention and diagnostics. By end-user, the market is segmented into hospitals, ambulatory surgical centers, and others (research institutes and cath labs, among others). By Geography, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD) for the above segments.