Guidewires are essential tools to track through a vessel, and allow access and ability to cross the lesion with interventional devices. Neurovascular guidewires are of different types based on material coating, size, and design. Neurovascular guidewires are medical devices used to carry stents, catheters, and balloons to cure intracranial blood vessel diseases such as cerebral arteriovenous malformations and aneurysms. Guidewires can be coated with polymers to make them hydrophilic or hydrophobic. Neurovascular guidewires are metallic and non-metallic structures, which guide a catheter through the blood vessels for placement in cardiology and radiology angiographic procedures. The global neurovascular guidewires market is expected to grow at a rapid pace due to a number of factors. Demand for minimally invasive procedures is increasing due to benefits over open surgeries such as minimal bleeding, lesser postoperative infection, fewer complications, shorter hospital stay, and early recovery. Rise in demand for advanced guidewires with improved lubrication, ease of insertion, and less patient discomfort has created a lucrative opportunity for research and development in this field.
The global neurovascular guidewires market is driven by rise in prevalence of cardiovascular diseases, increase in number of interventional diagnostic procedures, surge in demand for minimally invasive surgeries, and favorable reimbursement scenario. However, high cost of minimally invasive surgeries and complications in guidewire usage are likely to hamper the growth of the global neurovascular guidewires market.
The global neurovascular guidewires market can be segmented based on product type, coating type, material, application, end-user, and region. In terms of product type, the market can be bifurcated into solid guidewire and wrapped guidewire. Based on coating type, the global neurovascular guidewires market can be classified into hydrophobic and hydrophilic. The hydrophobic neurovascular guidewires segment is likely to account for the major share of the market due its wide applications and accessibility. In terms of material, the market can be categorized into stainless steel, nitinol, and hybrid. Nitinol has various advantages over stainless steel and the segment is anticipated to expand at a faster CAGR during the forecast period. Based on application, the global neurovascular guidewires market can be divided into diagnosis and treatment. End-users of neurovascular guidewires are hospitals, ambulatory surgical centers, cardiac catheterization laboratories, and others. The hospitals segment is likely to hold major share of the global neurovascular guidewires market, as these are major channel of distribution of devices manufactured by key players and due to favorable reimbursement policies.
Geographically, the global neurovascular guidewires market can be segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market in 2017 due to high prevalence of cardiovascular diseases and presence of key players. Technological innovations, rise in adoption of minimally invasive surgeries, and presence of top class health care infrastructure with skilled physicians drive the neurovascular guidewires market in Europe. Surge in demand for advanced neurovascular guidewires in emerging economies such as China and India, and increase in small and domestic players boosts market growth in Asia Pacific. Brazil and Mexico have significant growth potential owing to favorable government policies for new entrants. The market in Middle East & Africa is in a development phase and presents significant opportunities in the neurovascular guidewires market owing to increase in demand for interventional procedures performed.
Key players operating in the global neurovascular guidewires market include Abbott Vascular, Boston Scientific Corporation, CONMED Corporation, Cardinal Health, Inc., Stryker Corporation, Medtronic plc, B. Braun Melsungen AG, Cook Medical LLC, Terumo Corporation, and Asahi Intecc Co. Ltd.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.