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 thevascular guidewires market
Vascular guidewires market segmentation based on product type
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
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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