Albany, NY -- (SBWIRE) -- 01/23/2020 -- Artery Compression Devices Market: Overview
Hemostasis is a process that keeps blood within the damaged blood vessel, which gradually stops bleeding. Artery compensation devices are commonly utilized to perform hemostasis. Presently, artery catheterization is a widely used method of disease management. Radial arteries is the most preferred location for catheterization, due to the comparative ease of use and less complications. Overall catheterization is frequently associated with severe complications such as excessive bleeding, hematoma, and vascular occlusion.
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Compression devices are extensively utilized to control complications. Artery compression devices consists of unilateral valve, tubing, compression balloons, and adjustable belt. In this device, the unilateral valve is used to control air flow by connecting it to compression balloons on one side and pneumatic system on the other side. Hemostasis is achieved with the help of pneumatic pressure that is generated by compression balloons. The plastic belt is used to appropriately position the compression device over the target area.
Artery Compression Devices Market: Key Trends
The global artery compression devices market is expected to expand at a rapid pace in the near future. Moreover, increase in demand and better efficacy are key factors that are likely to fuel the demand for the device. Previously, traditional hemostasis is attained by taping and physical compression, which is time-consuming and labor-intensive procedure. Traditional devices may create severe complications. Currently, different types of users frequently utilize artery compression devices, as they are comparatively safer, has high patient compliance, enable quick recovery, and are cost-effective.
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All these factors contribute to the rapid expansion of the global artery compression devices market. Increase in geriatric population, technological advancements, and rise in chronic diseases are other key factors that are anticipated to boost the global artery compression devices market. For instance, according to China National Committee report on ageing, approximately 190 million people were above 65 years of age in 2015, and this figure is expected to reach approximately 500 million by the end of 2050. The geriatric population is more prone to chronic diseases, such as kidney diseases, arthritis, and cardiovascular diseases, which is likely to propel the market in the near future. However, stringent regulatory compliance by each governing body of different countries is expected hinder the market.
Artery Compression Devices Market: Segmentation
The global artery compression devices market can be segmented based on usage, product type, and end-user. Based on usage, the global artery compression devices market can be bifurcated into reusable and disposable devices. Based on product type, the global artery compression devices market can be divided into knob-based devices, plate-based devices, band/strap based devices, and others. In terms of end-user, the global artery compression devices market can be classified into hospitals, ambulatory surgical centers, clinics, and others.
Artery Compression Devices Market: Regional Anlaysis
Based on region, the global artery compression devices market can be divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America is anticipated to hold a leading share of the global artery compression devices market, primarily due to technological advancements, better reimbursement scenario, and rapid rate of adoption of new technologies in the region as compared to that in other regions. Europe and Asia Pacific are expected to follow North America in terms of share of the global artery compression devices market.
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Presence of key players, rapid increase in geriatric population, unmet needs, and government initiatives are estimated to boost the global artery compression devices market For instance, in Asia Pacific, governments of India and China are undertaking numerous awareness programs that are intended toward prevention and treatment of cardiovascular disorders. This, in turn, is projected to propel the market in Asia Pacific at a substantial CAGR in the next few years.
Artery Compression Devices Market: Key Players
Prominent players operating in the global artery compression devices market are Merit Medical Systems, BenQ Materials Corporation, Medtronic plc, and Terumo Europe NV.