The latest market report published by Acute Market Reports, Inc. “Neurovascular Guidewires Market: Growth, Future Prospects, and Competitive Analysis, 2018 – 2026” the global neurovascular guidewires market was valued at US$ 265.4 Mn in 2017 and expected to reach US$ 394.4 Mn by 2026 at a CAGR of 4.5% during the forecast period from 2018 to 2026.
The global neurovascular guidewires market shows dynamic growth during the forecast period from 2018 to 2026. Neurovascular guidewires support in the treatment of numerous disorders related to heart, kidney, liver and others. Growing geriatric population, advancement in guidewire technology, and demand for minimally invasive procedures are major factors driving the market growth. Heart-related disorders or surgical procedures in the application segment holds the major share in the neurovascular guidewires market in 2018. Increase in demand for advanced neurovascular guidewires with enhanced lubrication, simple & easy insertion, and very less patient discomfort has generated a productive opportunity for research and development in the global market.
Growing incidences of cerebral arteriovenous malformations and aneurysms mainly in the elderly population will drive the growth of the market. Additionally, upsurge in interventional diagnostic procedures in hospitals, flow in demand for minimally invasive surgical procedures, and satisfactory reimbursement structure will further spur revenue growth during the forecast period. However, high costs of advanced devices, burden of cardiovascular diseases with very fewer treatment options, lack of skilled professionals, less awareness and unstructured reimbursement scenario are factors limiting the market growth during the forecast period. The neurovascular guidewires market in North America is witnessing stable growth due to the presence of multispecialty clinics & hospitals, neurovascular centers, and the availability of top quality treatment options. Additionally, the remarkable adoption of wrapped guidewires and the huge presence of neurovascular medical device manufacturers in the U.S. will drive the market growth globally.
Key Market Movements:
- Globally, the neurovascular guidewires market remains to exhibit a lucrative growth with a CAGR of 4.5 % for the period from 2018 to 2026
- Based on the material type, the nitinol (nickel- titanium alloy) segment shows lucrative growth with increasing applications in the end user industry
- Increasing number of hospitals, availability of branded products with enhanced applications, and growing healthcare expenditure in the emerging nations will further drive the growth of the neurovascular guidewires market globally
- Major players in this vertical are Stryker Corporation, Cardinal Health, Inc., Boston Scientific Corporation, Cook Medical Incorporated, Medtronic, Inc., Abbott Laboratories, Cordis Corp., ASAHI INTECC CO., LTD., St. Jude Medical, Inc., Lepu Medical Technology (Beijing) Co., Ltd., Terumo Medical Corporation, Integra LifeSciences Corporation, Conmed Corporation and others