Vascular guidewires industry overview
According to the vascular guidewires market forecast, this 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.
Vascular guidewires market overview based on regions
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.
Vascular guidewires market growth analysis: 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 design, material, and simple stent delivery systems. Increasing technological innovations and product extensions will help maintain the level of competition during the four-year period.
Leading vendors in the vascular guidewires market
- Abbott Laboratories
- Boston Scientific
- Cordis
- Cook Medical
- Medtronic
- Terumo
Vascular guidewires market segmentation based on product type
- Coronary guidewires
- Peripheral guidewires
The market research analyst predicts that the coronary guidewires segment will dominate the total market share and grow at CAGR of around 5% during the forecast period. The extensive use of guidewires that improves visibility, navigation, and traceability will aid in the growth of this market segment.
Vascular guidewires market value based on end-user
- Hospitals
- Ambulatory surgical centers
During 2015, hospitals dominated the market, accounting for approximately 55% of the total market share. Based on the vascular guidewires market outlook, the growing number of multi-specialty hospitals providing exclusive services such as the procurement of medical products and therapeutic devices (stents and catheters) will result in the growth of this market segment during the estimated period.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global vascular guidewires market?
- What are the key market trends impacting the growth of the global vascular guidewires market?
- What are the challenges to market growth?
- Who are the key vendors in the global vascular guidewires market?
- What are the market opportunities and threats faced by the vendors in the global vascular guidewires market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global vascular guidewires market?
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Table of Contents
PART 01: Executive summary
PART 02: Scope of the report
- Market overview
- Top-vendor offerings
PART 03: Market research methodology
- Research methodology
- Economic indicators
PART 04: Introduction
PART 05: Vascular guidewires: An overview
- Background
- Basics of guidewire technology
- Definition
- Regulatory environment
PART 06: Market landscape
- Market overview
- Market size and forecast
- Five forces analysis
PART 07: Market segmentation by product type
- Coronary guidewires
- Peripheral guidewires
PART 08: Global coronary guidewires market
- Market overview
- Market size and forecast
PART 09: Global peripheral guidewire market
- Market overview
- Market size and forecast
PART 10: Market segmentation by end-user
PART 11: Geographical segmentation
- Vascular guidewires market in Americas
- Vascular guidewires market in EMEA
- Vascular guidewires market in APAC
PART 12: Buying criteria
PART 13: Market drivers
- Increasing incidences of cardiac disorders and rise in older population
- Rise in adoption of vascular procedures
- Growing demand for MI procedures
- Favorable reimbursement policies
PART 14: Impact of drivers
PART 15: Market challenges
- Complications and risks associated with guidewires
- Growing complexities in manufacturing vascular guidewires
- Pricing pressure coupled with lack of product differentiation
PART 16: Impact of drivers and challenges
PART 17: Market trends
- Innovations in technology
- Growing need for cost-effective vascular guidewires
- Rise in demand for soft-tapered and non-tapered guidewires
- Rise in use of nitinol in vascular guidewires
PART 18: Vendor landscape
PART 19: Key vendor analysis
- Abbott Vascular
- Boston Scientific
- Cook Medical
- Cordis
- Medtronic
- Terumo
- Other prominent vendors
PART 20: Appendix
PART 21: Explore Technavio