The cost-effectiveness of the approach and increasing chronic disease prevalence, preference for radial artery access during interventional procedures, chemotherapy procedure volume, radial access device use on high-risk and geriatric patients, and healthcare expenditure are the major reasons behind the transradial access devices market advance. Subsequently, the industry will grow at an 8.4% CAGR during 2018¬–2023 (forecast period) to reach $24.1 billion by 2023 from $14.9 billion in 2017.
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On the basis of product, the transradial access devices market is categorized into guidewires, catheters, accessories, and sheaths and sheath introducers. Among these, the catheters category dominated the market during the historical period (2013–2017), with a value share of over 40.0% in 2017. Due to the increasing prevalence of coronary artery disease, the volume of angiography and interventional procedures is rising. During the former, a contrast agent is delivered to the coronary artery via the catheter, so the blood flow and exact location of the blockage can be detected via X-ray.
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One of the key reasons behind the growing transradial access devices market is the increasing usage of the transradial approach over the transfemoral alternative. Years of extensive studies have revealed the former approach to be more suitable for high-risk, morbidly obese, and elderly patients, especially women. Furthermore, the transfemoral approach in patients taking anticoagulants via the mouth (parenterally) brings with it a significant risk of vascular bleeding at the access site, which is why the transradial approach is now being adopted more.
In 2017, Europe held the largest share in the transradial access devices market, of more than 40.0%. This is attributed to the widespread adoption of transradial interventions (TRI) for percutaneous coronary interventions (PCI). Additionally, a large number of same-day-discharge clinics have opened up in the region, which use the TRI approach, which is cost-effective and quicker than the transfemoral alternative. Based on country, the U.S. would witness the highest CAGR, of 11.8%, during the forecast period, owing to the increasing awareness about the benefits of the transradial approach over the transfemoral approach.
According to research report the Contrast Media Contrast Agent Market is expected to reach USD 6.0 billion by 2024 from an estimated USD 5.0 billion in 2019, growing at a CAGR of 3.8% during the forecast period.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=911Growth in the market can primarily be attributed to the rising volume of CT and MRI examinations globally, and the rapidly growing cancer and CVD population across the globe, increasing number of approvals of contrast agents.
Rising research activities on contrast agents & their applications are the key areas of opportunity in this marketGE Healthcare (US), Bracco Imaging (Italy), Bayer HealthCare (Germany), and Guerbet (France) are some of the leading players in the Contrast Media Contrast Agent Market.
Other prominent players in the market are Lantheus (US), Daiichi Sankyo (Japan), Unijules (India), J.B.
Chemicals (India), Sanochemia (Austria), Taejoon Pharm (South Korea), Jodas (India), and Magnus Health (India).Recent Developments:> In 2017, GE Healthcare (US) launched a new Macrocyclic MRI contrast agent, Clariscan, in Europe.> In 2019, Bayer AG (Germany) received FDA approval for Gadavist as the first contrast agent for cardiac MRI.> In 2019, Guerbet Group partnered with IBM Watson Health for AI in medical imaging to support liver cancer diagnostics, utilizing CT and MRI imaging.Based on type, the contrast media market is segmented into iodinated contrast media, gadolinium-based contrast media, barium-based contrast media, and microbubble contrast media.
In 2019, the iodinated contrast media segment is estimated to account for the largest share of the contrast media industry.
The large share of this segment can be attributed due to its high usage in CT examinations coupled with the fact that it can be used in almost all body parts.Based on modality, the contrast agent market is segmented into X-ray/CT, MRI, and ultrasound procedures.
The global blockchain technology in healthcare market size is expected to reach USD 11.5 billion by 2026, according to a new report by Grand View Research, Inc.
Furthermore, technological advancements and untapped opportunities in the healthcare sector are some of the major factor leading to the adoption of the technology.Blockchain technology has grown at a rapid pace in the past few years.
The technology has been utilized by the big corporations for profit maximization and cost cutting.
Many leading healthcare and life science companies including Pfizer Inc.; Amerisource Bergen Corporation; McKesson Corporation; and Premier Inc. have all recently joined blockchain-powered project MediLedger to tackle the inadequacies of supply chain.
Reduction or elimination in frauds and errors, reduction in delays from paperwork, identification of issues rapidly, minimization of courier costs, improvement in inventory management, and increase in consumer and partner trust are some of the purported benefits of blockchain technology facilitating supply chain management.Furthermore, the pharmaceutical industry is only one part of the overall healthcare ecosystem which is vigorously exploring the use cases of the blockchain and many of the ideas already have the proof-of-concept implementations.
The hindrances and challenges that arise in multiple level authentication can also be eliminated through the adoption of blockchain.
