Global Vascular Guidewires Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

The Global Vascular Guidewires Market is estimated to be USD 1.03 Bn in 2023 and is expected to reach USD 1.5 Bn by 2028 growing at a CAGR of 7.91%.

Market Dynamics

The rising prevalence of cardiac diseases leading to increased cardiac procedures such as angioplasty endovascular aneurysm repair stent grafts, plaque modification devices, hemodynamic flow alteration devices, etc., are the major factors increasing the vascular guidewires market growth. In addition, the rising geriatric population, increasing unhealthy lifestyle, and increasing awareness of minimally invasive procedures have increased the vascular guidewires market. Furthermore, increasing healthcare expenditure and advanced medical technology in treating cardiac diseases are fuelling the market growth. However, the high cost of cardiac procedures and product recalls are anticipated to hinder the market growth.

Rising government initiatives in healthcare in emerging countries are expected to create new opportunities for the vascular guidewires market.

Market Segmentation

• The Global Vascular Guidewires Market is segmented further based on Material, Coating, Product, Application, End-User, and Geography.
• By Material, the market is classified into nitinol guidewires, stainless steel guidewires, and hybrid guidewires. Amongst all, the nitinol guidewires segment is estimated to hold the highest market share during the forecast period.
• By Coating, the market is classified as Coating and non-coating. Amongst the two, the coating segment is estimated to hold the highest market share during the forecast period.
• By Product, the market is classified as surgical guidewires and diagnostic guidewires. Amongst all, the surgical guidewires segment is estimated to hold the highest market share during the forecast period.
• By Application, the market is classified as coronary, peripheral, urology, neurovascular, and others. Amongst all, the coronary segment is estimated to hold the highest market share during the forecast period.
• By End User, the market is classified as hospitals, and ambulatory care centers (ACC). Amongst all, the hospital's segment is estimated to hold the highest market share during the forecast period.
• By Geography, North America is projected to lead the market.

Recent Developments

1. Scientia Vascular, an innovator in the field of neurovascular treatment technology, received U.S. FDA clearance for its Zoom Wire 14 guidewire line of interventional guidewires, which are used to gain access during the ischemic and hemorrhagic stroke and other challenging neurovascular and peripheral vascular procedures. - 28th September 2020.
2. Philips introduces OmniWire, the world's first solid core pressure guidewire for coronary artery interventional procedures. - 17th August 2020.

Company Profiles

Some of the companies covered in this report are Terumo Medical Corporation, Boston Scientific Corporation, Abbott Laboratories, Asahi Intecc Co. Ltd, Cardinal Health, B. Braun Melsungen AG, AngioDynamics, etc.

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Vascular Guidewires Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter's 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains the competitive analysis using Positioning Quadrants, the Proprietary competitive positioning tool.

Report Highlights:

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market