Radial Compression Devices Market Is Highly Growing in Industry with Good Revenue by 2027

Some of the world's most important medical treatments, such as percutaneous coronary intervention (PCI), will continue to be performed non-surgically. Medical practitioners all across the world are now choosing for radial access to procedures like PCI in order to avoid operational repercussions. In developed healthcare markets such as the United Kingdom, radial access is used in more than 75% of PCI cases. Demand for radial compression devices has also increased in these areas, owing in part to an increase in the prevalence of radial artery blockage.

The global radial compression devices market is estimated to account for US$ 357.7 Mn in terms of value by the end of 2027.

The use of radial bands shortens hospital stays and so helps people save money on high-priced hospital expenses. This is precisely why band-based products are quickly gaining appeal over other traditional ways. This aspect is driving the band-based segment's acceptance and revenue growth in the global radial compression devices market. An increase in life expectancy leads to an increase in the global ageing population, implying an increase in the number of individuals suffering from cardiovascular illnesses. The growth in cardiovascular diseases as a result of higher life expectancy is likely to drive the development of the band-based segment during the forecast period. Radial access such as band based products provides faster mobility to patients as the incision is smaller and the chances of infection at the site is much lower in radial access as compared to transfemoral access. These factors are likely to fuel revenue growth of the band based segment over the forecast period. Market players also focussing on providing more improved radial compression devices.

Major players in the market are also focused on adopting M&A strategies to expand their product portfolio. For instance, in November 2019, Terumo Corporation announced its plans to acquire Aortica Corporation, a U.S.-based company dedicated to advancing the science of personalized vascular therapy.