Overview of the global vascular guidewires market
The market research analyst at Technavio predicts that the global vascular guidewires market will grow steadily and post a moderate CAGR of around 6% by 2020. One of the major factors positively affecting this market’s growth will be the growing demand for minimally invasive (MI) procedures. The rising demand for MI procedures will be due to benefits such as faster recovery time, less pain, fewer post-surgery infections, reduced hospital stays, reduced incision marks, bleeding control, minimal complications, and heightened accuracy. Advances in surgical techniques and improvements in equipment handling results help in enhancing surgical precision with a 3D view of the patient; thus, allowing manipulation of small surgical tools for the placement of stents in the individual's body. Also, the usage of guidewires made of materials that provide better flexibility, support, and tracking of the stent during the procedure will lead to the accurate placement of stents as they allow distal device delivery and catheter exchange without the loss of distal wire position.
During 2015, the Americas dominated the market, accounting for approximately 48% of the total market share. The adoption of technologically advanced interventional vascular devices will contribute to the growth of the market. The vendors will invest in research and development of services with advanced medical technologies that will help improve patient outcomes during surgeries, which, in turn, will lead to the progression of the market during the forecast period.
Competitive landscape and key vendors
The market appears fragmented due to the presence of several vendors consisting of both regional and local players who compete to introduce low-cost vascular guidewires. Vendors are investing in resources for the development of products with advanced features such as
Overview of the global angioplasty balloons market
Comprehensive market research carried out by the analysts at Technavio has shown that the global market for angioplasty balloons will grow at a moderate CAGR of over 3% during 2016 to 2020. Much of this market’s growth can be attributed to the recent emergence of digital cath labs in hospitals. Cath labs or cardiac catheterization laboratories in hospitals have the capability to carry out diagnostic and therapeutic procedures, and can also be used to conduct normal procedures such as the monitoring of blood flow and heart pressure. Recent advances in technology, especially in the area of catheterization, like robot-assisted catheterization for percutaneous coronary intervention (PCI), has led to the development of advanced digital imaging systems. As these systems help to improve the detection and intervention of cardiac diseases, its demand among the healthcare end users will rise substantially over the next four years.
This market study considers three key regions to estimate this market’s growth rate during the forecast period. Out of the three regions considered for estimating this market’s growth potential, the Americas is predicted to account for more than 40% of the overall market share by 2020. The strong growth of this market in the Americas can be attributed to the high adoption of balloon angioplasty devices for carrying out angiographic procedures as they are minimally invasive. Since these devices improve the quality of life, offer better patient healthcare benefits, and minimize hospital stays, its demand among the patients will increase substantially during the predicted period.
Competitive landscape and key vendors
The global angioplasty balloons market will exhibit steady growth and is characterized by the presence of
Overview of the global ventricular assist devices (VADs) market
According to the market research analysts at Technavio, the ventricular assist devices (VADs) market is expected to witness rapid growth at a staggering CAGR of more than 12% over the forecast period. Due to an impending shortage of heart donors and the high cost of heart transplantation, the VADs market is anticipated to have a positive outlook in the coming years. Cardiovascular diseases sometimes lead to heart failure, and it becomes imperative for the patient to undergo heart transplantation. However, it is quite difficult to get a heart transplant due to the shortage of heart donors. It has been observed that with each year, the number of people who require heart transplants is rising, while only a few donors are available. This has resulted in an increase in the average waiting time for heart transplantation. Moreover, heart transplantation procedures are very expensive, making them unaffordable for many people, thereby leading to an augmented demand for VADs. Many people are using VADs due to their cost-effectiveness and easy availability. Unlike artificial hearts, VADs help the heart rest after cardiac surgeries and can also be implanted in people awaiting donor hearts and for long-term use in individuals with advanced congestive heart failure.
Small companies are forming partnerships with hospitals and other companies to develop advanced technologies for market entry. However, only a few products are in their development stage or have received regulatory approval in one region. These products are highly advanced and specific to the preference of physicians. Post approval, these advanced devices will be increasingly adopted and will pose a serious threat to large companies such as Thoratec and ABIOMED. This will bolster the growth prospects for this market during the predicted period.
Overview of the global flow diversion aneurysm treatment market
Technavio’s market research analyst have predicted that the global flow diversion aneurysm treatment market will grow at a CAGR of more than 14% by 2020. Flow diversion aneurysm stenting is one of the most widely accepted minimally invasive (MI) procedures for the treatment of intracranial aneurysm. Surgeons, interventional cardiologists, radiologists, and neurologists have the expertise to perform this procedure. The growing acceptance of flow diverters by physicians across the globe has led to the increased use of other endovascular stents. Many hospitals and healthcare centers worldwide are recommending the procedure to people with carotid artery stenosis. Also, several vendors are focusing on getting clinical data and findings that support the adoption of flow diverters, which will enable manufacturers and researchers to develop new technologies for treating intracranial aneurysm. The growing demand for minimally invasive endovascular surgeries will significantly contribute to the growth of the global flow diversion aneurysm treatment market during the predicted period.
According to this market research report, the products available for flow diversion aneurysm treatment are in the initial stages of approval, and over 80% of the products present in the market have got CE mark approval. Regions such as Germany and Western Europe account for the maximum number of flow diversion aneurysm treatment diverters in the market. Several pure play companies such as Phenox and Acandis are performing rigorous clinical testing to
Overview of the global atherectomy devices market
Atherectomy is a minimally invasive surgical procedure for the plaque that blocks vein grafts or coronary arteries. The recent rise in the incidence of peripheral artery disease across the globe, especially among the aging population, has boosted the demand for atherectomy procedures during the forecast period. Since many medical facilities are using atherectomy procedures to treat the peripheral artery disease, it will increase the demand and sales of atherectomy devices in the next few years. Technavio’s market research analyst predicts that the global atherectomy devices market will grow at a CAGR of more than 5% by 2020.
Owing to technological advancements and product innovations, vendors have been compelled to replace traditional atherectomy devices with new technologies like laser-based atherectomy devices. These advanced devices are more efficient and have minimal complications. Vendors have also come up with devices that offer advanced features such as improved physician controls, ergonomics, and manufacturability. For instance, Avinger’s advanced version of Pantheris lumivascular atherectomy system is the first image-guided atherectomy device. The increase in demand for such innovative devices among physicians will augment this market’s growth potential during the forecast period.
Segmentation by technology and analysis of the atherectomy devices market
- Directional atherectomy
- Rotational atherectomy
- Orbital atherectomy
- Laser atherectomy
Orbital atherectomy is an advanced technology that helps remove plaque in difficult-to-treat patient population. The high revolving speed of orbital atherectomy devices makes the tissue remains small for their harmless excretion through the circulatory system and restricts any possibility for distal embolic complications. These
Market outlook for embolic protection devices
The global market for embolic protection devices will exhibit impressive growth during the estimated period and will be positively affected by the preference for minimally invasive procedures with improved medical imaging. At present, medical facilities from across the globe have started shifting toward minimally invasive procedures that involve the use of radiotherapy and imaging technologies; thus, expanding the treatment options for peripheral vascular diseases (PVDs), such as deep vein thrombosis. If left untreated, PVD can cause heart attacks and strokes. To treat the disease, physicians perform angioplasty or insert stents in the blood vessels through small incisions during minimally invasive surgeries. Such methods help minimize trauma and pain and reduce the risks of infection in the blood vessels. According to Technavio’s market research analyst, the global embolic protection devices market will grow at a CAGR of almost 10% by 2020.
In terms of geography, it is estimated that the Americas will continue its market dominance until the end of 2020 and will account for almost 49% of the overall market share by the end of the forecast period. Much of this region’s growth can be attributed to the extensive use of embolic protection devices through distal or proximal insertion with subsequent aspiration for angiographic procedures. The volume of angiography is increasing due to the adoption of these devices for minimally invasive procedures, with most people preferring cath-labs for such techniques.
Competitive landscape and key vendors
At present, this market is growing steadily and is envisaged to exhibit rapid growth over the next few years due to the presence of many global and regional vendors that offer a wide range of embolic protection devices. In 2015, Medtronic, Abbott Laboratories, Boston Scientific, and Cardinal
The market for cardiovascular devices is expanding with the rising burden of cardiovascular disease. Developed countries currently dominate the market. However, the market is expected to grow significantly in developing countries due to an increased number of patients affected by cardiovascular diseases. Changing lifestyles and chronic conditions such as obesity are contributing to the growth of this market.
Vendors in the cardiovascular medical device market are focusing on developing new and improved products and technologies to address the changing market dynamics.