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Neurovascular Guidewires Market By Type (Solid Guide Wire, Wrapped Guide Wire), By Material Type (Stainless Steel, Nitinol, Others), By Application (Heart, Liver, Kidney, Others), By End User (Hospitals & Specialty Clinics, Neurology Centers, Ambulatory Surgical Centers) - Growth, Future Prospects And Competitive Landscape, 2018 – 2026

The neurovascular guidewires market is expected to exhibit lucrative growth during the forecast period

The global market for neurovascular guidewires was valued at US$ 265.4 million in 2017 and is expected to reach US$ 394.4 million by 2026. Rising cardiovascular disorders, along with demand for minimally invasive procedures, will drive the overall neurovascular guidewires market's growth globally. During the forecast period, the overall market would be driven by advancements in guidewire technology as well as rising acceptance for wrapped guidewires.

Market Synopsis

Wrapped guidewire segments are expected to register higher growth by the end of 2026

The global sale of neurovascular-wrapped guidewires is increasing significantly, mainly in Asia Pacific and Europe. The coating facilitates access to past obstructions and negotiates tortuous anatomy. It also provides a low coefficient of friction to facilitate progression and catheter tracking. Other major factors driving the growth include product expansion for guidewires with hydrophobic or hydrophilic coatings (guidewire technology) among neurologists, advancement in fluoropolymer coatings, and utilization of hybrid guidewires, along with higher precision and safety, which will drive the growth of the market.

The nitinol (nickel-titanium alloy) segment is expected to register higher growth by the end of 2026

Nitinol hydrophilic guidewires are slowly gaining traction in emerging markets. The properties of nitinol guidewires, such as flexibility, stiffness, low friction navigation, torqueability, and hydrophilic coating, play a vital role during treatment procedures. Other major factors enhancing the material type segment include increasing minimally invasive procedures in radiology, angiography, and cardiology procedures, reduced cost, and advanced guidewire technology.

Heart in the application segment generated the highest revenue share in 2018

As per the recent data provided by the Centers for Disease Control and Prevention, more than 800,000 individuals in the U.S. experience stroke every year. Around 50 million surgical procedures are performed every year in the U.S. Neurovascular guidewires are primarily utilized to carry catheters, stents, and balloons to cure cerebral aneurysms or arteriovenous malformations. Nearby 2% to 3% of the global population suffers from cerebral aneurysms.

During the forecast period, market growth will be driven by an aging population in developed countries

A growing population, as well as the prevalence of cardiovascular and neurological disorders, will drive hospital demand. Additionally, demand for minimally invasive treatment procedures due to their advantages over open surgeries—fewer complications and a shorter hospital stay—along with growing neurovascular cases, is generating a noteworthy revenue share in the global market. However, a deficiency of skilled physicians, less availability of branded products, high costs, and no or limited reimbursement are factors restraining the growth of the neurovascular guidewires market on a global scale.

Increasing demand for advanced products and the presence of established players hold the U.S. in a dominant position

The U.S. generated the largest revenue share in the global neurovascular guidewires market. Additionally, the swift commercialization of innovative medical devices will drive growth in North America. Partnerships, new technology expansion in guidewire technology, demand for hybrid products, and growing cardiovascular procedures will further spur revenue growth in the U.S. market. The massive patient population in emerging nations improved reimbursement structure, and medical device company partnerships will drive global market growth.

Dominance of multinational manufacturers with strong product portfolios in the developed regions

Major players in the neurovascular guidewires market are Stryker Corporation, Cardinal Health, Inc., Boston Scientific Corporation, Cook Medical Incorporated, Medtronic, Inc., Abbott Laboratories, Cordis Corp., ASAHI INTEC CO., LTD., St. Jude Medical, Inc., Lepu Medical Technology (Beijing) Co., Ltd., Terumo Medical Corporation, Integra LifeSciences Corporation, Conmed Corporation, and others. Companies are executing growth strategies through new guidewire technology, new product launches, and technology expansion into hospitals and neurological centers.

Periods of History and Forecast

This study report includes an analysis for each segment from 2016 to 2026, with 2017 as the base year. The compound annual growth rate (CAGR) for each of the respective segments is estimated for the forecast period from 2018 to 2026.

Report Scope by Segments

The current report also includes qualitative and quantitative market valuation factors such as key market drivers, market trends, restraints, and opportunities to provide a more comprehensive understanding of the global neurovascular guidewires market. Additionally, the report also comprises a graphical representation of the competitive landscape based on their market initiatives and strategies, product portfolios, and business strengths.

Key questions are answered in this report

  • What are the current market trends and dynamics in the neurovascular guidewires market, and what are the valuable opportunities for emerging players?
  • Which segment accounts for the fastest CAGR during the forecast period?
  • What is the impact of the high cost of neurovascular guidewires on the global market?
  • What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and the Middle East and Africa?

Frequently Asked Questions:

The market for Neurovascular Guidewires Market is expected to reach US$ 394.4 Mn by 2026.

The Neurovascular Guidewires Market is expected to see significant CAGR growth over the coming years, at XX%.

The report is forecasted from 2018-2026.

The base year of this report is 2017.

ASAHI INTEC CO., LTD., St. Jude Medical, Inc., Lepu Medical Technology (Beijing) Co., Ltd., Terumo Medical Corporation, Integra LifeSciences Corporation, Conmed Corporation, are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Apr 2019
Category:  Medical Devices
Report ID:   59680
Report Format:   PDF
Pages:   120
Rating:    4.3 (56)
Delivery Time: 24 Hours to 48 Hours   
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