The global vascular guidewires market was estimated at $1.0 billion in 2015 and is expected to hit $1.6 billion by 2022, registering a CAGR of 6.2% during the forecast period.
“The failure rate for interventional cardiology procedures was high a decade ago, but due to the improved guidewire technology along with improved stent & balloon platforms the failure rate is reduced to less than 1% in the current scenario. This has increased the adoption of minimally invasive vascular procedures among patients as well as healthcare providers.”
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Growing incidences of cardiac disorders, rise in geriatric population, increasing patient awareness about coronary diseases, and presence of high unmet medical needs have fueled the growth of the global vascular guidewires market. On the other hand, several risks & complications associated with guidewires and preference for drugs over treatment devices have happened to restrict the growth to some extent. Nevertheless, growing opportunities in emerging economies and rise in the use of nitinol in vascular guidewires have escalated the growth yet more.
Based on product type, the coronary guidewires segment is anticipated to be dominant throughout the forecast period. The prevalence of cardiac disorders globally has spurred the cause. On the other hand, Peripheral guidewires segment is expected to grow at the highest CAGR of 7.7% during the study period. This growth has been driven by the increased demand for minimally invasive procedures for peripheral interventions. Based on end user, the hospitals segment held the major share, accounting for three-fifth of the total market in 2015. Based on coating type, the hydrophilic segment contributed more than half of the total market in 2015 and is expected to dominate during the study period. By geography, North America held nearly two-fifth of the total market share, thereby coming out as the major shareholder in 2015.
The global vascular guidewires market is divided into product, coating type, end user and region. The report segments the product type into coronary guidewires and peripheral guidewires. Based on coating type, the market is segmented into coated, hydrophilic coating, hydrophobic coating, and non-coated. Based on end-user, the market is bifurcated into hospitals and ambulatory surgical centers. By region, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA.
The report also profiles the key players involved in the global vascular guidewires market and they include B. Braun Melsungen AG, Cook Medical, Inc., Biotronik SE & Co. KG, Boston Scientific Corporation, Terumo Corporation The Spectranetics Corporation C. R. Bard, Inc., Cardinal Health, Inc., Abbott Laboratories, and Medtronic plc. They have adhered to various strategies including mergers & acquisitions, collaborations, partnerships, and others to maintain their stand in the industry. The other players in the value chain take in Ltd., ASAHI INTECC CO., LTD., Optimed Medizinische Instrumente GmbH, BrosMed Medical Co., Ltd, Lepu Medical Technology (Beijing) Co., and JOTEC GmbH.
KEY FINDINGS OF VASCULAR GUIDEWIRES MARKET:
- Based on end user, hospitals segment accounted for three-fifths of the total market in 2015.
- Based on coating type, hydrophilic coating accounted for more than half of the total market in 2015.
- Asia-Pacific is expected grow at the highest CAGR of 7.0%, owing to the presence of ample growth opportunities in terms of unmet medical needs for the treatment of vascular disorders
- In terms of procedure volumes, North America accounted for one-third of the total volume market in 2015.
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