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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.
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.
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.
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.
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.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Vascular guidewires: An overview
PART 06: Market landscape
PART 07: Market segmentation by product type
PART 08: Global coronary guidewires market
PART 09: Global peripheral guidewire market
PART 10: Market segmentation by end-user
PART 11: Geographical segmentation
PART 12: Buying criteria
PART 13: Market drivers
PART 14: Impact of drivers
PART 15: Market challenges
PART 16: Impact of drivers and challenges
PART 17: Market trends
PART 18: Vendor landscape
PART 19: Key vendor analysis
PART 20: Appendix
PART 21: Explore Technavio
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