About Vascular Guidewires
The factors attributed to the high growth of the market are the increasing number of neurological disorders and the growing adoption of minimally invasive surgeries. Guidewires are an integral part of vascular intervention. They are utilized to access target vessels, cross lesions, and deliver definitive interventional therapy. Rising adoption of guidewires among specialist owing to procedural and technical benefits offered by nitinol materials used for manufacturing guidewires such as biocompatibility, recovering elongation, resistivity, steerability, and super elasticity.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | North America |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Vascular Guidewires market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Abbott Laboratories (United States), Boston Scientific (United States), Cordis (United States), Cook Group (United States), Medtronic plc (Ireland), Terumo Corporation (Japan), ASAHI INTECC CO., LTD. (Japan), B. Braun Melsungen AG (Germany), Biotronik (Germany), Brosmed Medical (China), C.R. Bard Inc. (United States), GaltNeedleTech (United States), Gore Medical (United States) and Jotec (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Lepu Medical Technology (China), Merit Medical (United States) and OptiMed (United States).
Segmentation Overview
AMA Research has segmented the market of Global Vascular Guidewires market by Type (Coronary Guidewires, Peripheral Guidewires, Urology Guidewires and Neurovascular Guidewires) and Region.
On the basis of geography, the market of Vascular Guidewires has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2023. If we see Market by Material, the sub-segment i.e. Nitinol will boost the Vascular Guidewires market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Coating, the sub-segment i.e. Coated will boost the Vascular Guidewires market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Hospitals will boost the Vascular Guidewires market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rapid Technological Advancements in Guidewires
Market Growth Drivers:
Increasing Prevalence of Cardiovascular Disorders and Rising Adoption of Minimally Invasive Surgical Procedures Across Major Countries
Challenges:
Dearth of Skilled Surgeons to Conduct Minimally Invasive Surgeries and Availability of Effective Conventional Treatment Options
Restraints:
High Cost of Guidewires and Risks & Complications Associated with Guidewires
Opportunities:
Increase in Use of Nitinol in Vascular Guidewires and Growth Opportunities in the Emerging Economies
Market Leaders and their expansionary development strategies
In April 2023, Guangdong Hicicare Science (Hicicare) and Zylox-Tonbridge Medical Technology (Zylox-Tonbridge) have formed a strategic partnership aimed at facilitating the commercialisation of vascular guidewire products under a co-branded label in China.The partnership’s goal is to bring innovative vascular access solutions to Chinese physicians and patients by launching products for neuro and peripheral-vascular interventional device market segments.
In Dec 2020, Rapid Medical, a company focused on the development of the first class of responsive, adjustable neurovascular devices, announces the FDA clearance of DRIVEWIRE, a novel guidewire with a steerable distal tip that handles complex anatomical turns with ease. This device is named Columbus outside of the United States. and In 2020, Philips launches OmniWire, the world's first solid-core pressure guidewire for coronary interventions
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planner, Vascular Guidewires Manufactures, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.