Transparency Market Research in its new report titled, “Neurovascular Guidewires Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the neurovascular guidewires market. The TMR report anticipates that the rise in prevalence of cardiovascular diseases, increase in number of interventional diagnostic procedures, surge in demand for minimally invasive surgeries, and favorable reimbursement scenario will drive the neurovascular guidewires market during the forecast period i.e, 2018-2026. However, high cost of minimally invasive surgeries and complications in guidewire usage are likely to hamper the growth of the global neurovascular guidewires market, says the report.
The TMR report has segregated the global neurovascular guidewires market based on product type, coating type, material, application, end-user, and region. On the basis of product type, the market is bifurcated into solid guidewire and wrapped guidewire. In terms of coating type, the global neurovascular guidewires market is 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. Based on material, the market is split 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. In terms of application, the global neurovascular guidewires market is 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.
From a regional standpoint, the global neurovascular guidewires market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market in 2017 owing 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. Some of the major players operating in the global neurovascular guidewires market are profiled in this report to give a better competitive analysis of the market and these players 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.
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