A guidewire performs the role of a guide toward the insertion of a larger device, such as catheter, into a patient’s body. Technological advancements in guidewires over the last few years have encouraged major companies in the market to offer a wide range of guidewires with diverse properties that help interventional cardiologists accurately reach their vascular target in time without leading to any complications. The material generally used in making guidewire is core steel with a coating applied over the core. A hydrophilic or hydrophobic polymer is used as coating. 

Rise in prevalence of coronary disorders, increase in geriatric population, high demand for minimally invasive procedures, and technological advancements in guidewires are factors propelling the vascular guidewires market. However, various risks and complications are linked with the usage of guidewires. Availability of effective conventional treatment alternatives is hampering the global vascular guidewires market. There has been an increase in the usage of nitinol in vascular guidewires. Large amount of growth opportunities in emerging economies of the Asia Pacific and LAMEA are expected to provide several opportunities for the market during the forecast period. 

The global vascular guidewires market has been segmented depending upon material, application, coating type, end-user, and region. In terms of material, the vascular guidewires market can be divided into nitinol, stainless steel, and hybrid. Based on application, the vascular guidewires market can be segregated into peripheral guidewires, coronary guidewires, urology guidewires, and neurovascular guidewires. Based on coating type, the global vascular guidewires market can be bifurcated into coated and non-coated. Depending upon end-user, the global vascular guidewires market can be categorized into hospitals and ambulatory surgical centers.

In terms of application, the coronary guidewires segment is expected to maintain its major share of the market throughout the forecast period, owing to the rise in prevalence of cardiac disorders across the globe. Based on coating type, the coated segment is anticipated to expand at a rapid pace during the forecast period owing to its track ability and torque.

Based on region, the global vascular guidewires market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is estimated to account for major share of the market in the near future owing to the vast potential patient pool, availability of innovative devices, high rate of adoption of minimally invasive surgeries, and rise in mergers & acquisitions to attain novel technologies. However, the market in Asia Pacific is estimated to expand at a high CAGR due to the rapid growth in medical tourism, introduction of automated IVF processes, and gradual shift toward minimally invasive or non-invasive IVF procedures in the region. 

Key players operating in the global vascular guidewires market include Boston Scientific, Abbott Laboratories, Medtronic, Terumo Corporation, Cardinal Health, Olympus, Johnson & Johnson, B. Braun, C.R. Bard, and Cook Group.  These companies have been adopting market expansion, product development & commercialization, acquisition, and agreements & collaborations as its business strategies in order to ensure supremacy in the market.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players 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.

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Vascular Guidewires Market

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