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Market research analysts at Technavio predict that the global coronary guidewires market will grow steadily over the forecasted period and post a CAGR of more than 5% by 2021. This market research analysis identifies the increasing incidence of cardiac disorders and rises in the geriatric population as one of the primary growth factors for this market.
The growing geriatric population is responsible for high incidence of cardiac disorders as with old age, they become susceptible to disorders associated with the heart such as CADs, carotid artery stenosis, and myocardial infarction, in addition to, suffering from obesity and diabetes. The risk of strokes and heart attacks increases due to lack of physical activity, unhealthy diet, tobacco consumption, and high blood cholesterol
Nitinol utilization has increased tremendously in surgical and medical specialties, both on therapeutic and diagnostic sides, due to its biocompatibility and thermo-mechanical characteristics. Nitinol can overcome a wide range of design and technical issues. Nitinol provides excellent biocompatibility, recovering elongation, resistivity, steerability, and superelasticity, which are favorable in manufacturing the vascular guidewires. The market analysis identifies the rise in the use of nitinol in coronary guidewires as one of the key trends behind the growth of this market.
Coronary guidewires market growth: Competitive landscape and key vendors
The market is moderately competitive and fragmented due to several global and regional players competing in terms of quality, features, and capability. The vendors adopt competitive pricing to secure their market share and engage in M&A’s to grow inorganically by acquiring regional or local players. The competition will further increase due to technological innovations, product extensions, and an increase in M&A’s.
Stainless steel is used as the central core material as it provides steerability and support to the wires, enables easy steering through challenging vessels with torque response, and the hydrophilic coating ensures low friction and smooth tracking. Stainless steel cores are easy to weld, optimize torque transmission, and offers great support for the delivery of medical devices.
Coronary guidewires are used primarily in hospitals that engage closely with many suppliers to procure therapeutic devices and medicinal products (guidewires, catheters, and stents) and with government organizations to aid the treatment of patients. Hospitals will account for the major shares of this market throughout the forecast period.
Key questions answered in the report include
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by core material
PART 07: Market segmentation by end-user
PART 08: Geographical segmentation
PART 09: Decision framework
PART 10: Drivers and challenges
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Key vendor analysis
PART 14: Appendix
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