Technavio Announces the Publication of its Research Report Global Vascular Guidewires Market 2016-2020
Technavio recognizes the following companies as the key players in the global vascular guidewires market: Abbott Vascular, Boston Scientific, Cordis, Medtronic, and Terumo.
Other Prominent Vendors in the market are: Asahi Intecc, B. Braun Melsungen, Biotronik, BrosMed Medical, CR Bard, GaltNeedleTech, Gore Medical, JOTEC, Lepu Medical Technology, Merit Medical Systems, OptiMed and Volcano.
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Commenting on the report, an analyst from Technavios team said: Innovations in technology will be a key trend for market growth. The interventional vascular segment has been witnessing a drastic change with respect to new enhancement in design, feature, and maneuverability of guidewires used in the vascular stenting procedures. This has a significant impact on the vascular guidewires market. For instance, Cardiovascular Systems recently got the US FDA approval for its ViperWire Advance peripheral guidewire in 2015. This guidewire provides improved navigation and flexibility and ease-of-use to arteries that are hard to reach. Most key vendors are developing new technologies to fulfil the unmet medical needs in vascular interventional procedures.
According to the report, one of the key drivers for market growth will be rise in adoption of vascular procedures. The rise in volume of vascular intervention procedures has led to an increase in demand for vascular guidewires. The guidewires form the first line support and are the most integral part of a procedure. Guidewires help in guiding, coordinating, navigating, and monitoring the catheterization or stenting devices targeted on the specific site. The rise in vascular disorders has led to an increased sales of access devices in treating cardiac and peripheral disorders.
Further, the report states that complications and risks associated with guidewires will be a challenge for the market. Despite the advances in wire and stent technology, the risks associated with guidewire remains a challenge to most surgeons. The guidewires are subjected to high risk of perforation of the distal vessel if allowed to migrate into small side of adjacent branches. The surgeons must monitor and be careful in positioning the wire tip during the procedure. These wires can sometime get caged inside due to improper navigation and may cause risk of wire rupture during pullback.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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About Vascular Guidewires
Vascular guidewires are used in interventional procedures in guiding the catheters to target specific site for treatment. The growing older population is a major contributor to the growth of the market. WHO estimates that about two billion people will be aged 60 and above by 2050. The older adult population is susceptible to chronic diseases, and thus requires frequent care at healthcare facilities. The percutaneous transluminal coronary angioplasty (PTCA) is the most widely used procedure in which guidewires are extensively used followed by angioplasty.
Technavios analysts forecast the global vascular guidewires market to grow at a CAGR of 5.71% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global vascular guidewires market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of vascular guidewires to hospitals and ambulatory surgical centers (ASCs).
The market is divided into the following segments based on geography:
Technavio’s report, Global Vascular Guidewires Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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