The global vascular guidewires market garnered $883 million in 2017 and is expected to reach $1,336 million by 2025, growing at a CAGR of 5.4% during the study period. The report provides a detailed analysis of drivers & opportunities, changing market trends, competitive landscape, key market segments, and market size & estimations.
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Increase in incidence of cardiac disorders, growth in geriatric population, rise in patient awareness, and presence of high unmet medical needs have fueled the growth of the global vascular guidewires market. On the other hand, risks and complications associated with guidewires have checked the growth to some extent. Nevertheless, use of nitinol in vascular guidewires has created multiple opportunities in the segment.
The report segments the market into application, coating type, end user and region. By application, the market is classified into Coronary Guidewires, Peripheral Guidewires, Urology Guidewires and Neurovascular Guidewires. By coating type, the market is bifurcated into coated and non-coated. By end-user, the market is divided into hospitals and ambulatory surgical centers. Finally, by geography, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Based on coating type, the hydrophilic coating segment accounted for more than half of the total market in 2017 and is expected to be dominant during the study period. Based on end user, the hospitals segment held the largest share in 2017, accounting for three-fifth of the total market.Based on region. Asia-Pacific is anticipated to grow at the highest CAGR of 6.2%. Presence of ample growth opportunities in terms of unmet medical needs for the treatment of vascular disorders has spurred the growth. On the other hand, in terms of volume, North America contributed to one-third of the total volume market in 2017. Development of cutting-edge devices, and growing adoption of minimally invasive surgeries have driven the growth.
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The players operating in the vascular guidewires market include B. Braun Melsungen AG, Dickinson and Company (C.R. Bard), Abbott Laboratories, Biotronik SE & Co. KG, Becton, Boston Scientific Corporation, Cardinal Health, Inc., Cook Medical Inc., Terumo Corporation, and Olympus Corporation. These key players are expanding the scope of their business operations by incorporating innovative products in their product portfolios. The other players analyzed in the value chain include Bard Peripheral Vascular, Inc., Teleflex Incorporated, AngioDynamics, Asahi Intecc USA, Inc., Stryker Corporation, and others.
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