[269 Pages Report] The global Neurovascular Guidewires Market is projected register CAGR of 4.0% during the forecast period 2022 to 2028. Increasing demand for straight tip guidewires for minimally invasive spine and cervical surgeries is accelerating the growth in the market.
| Attribute | Details |
|---|---|
| Neurovascular Guidewires Market Size Value in 2021 | US$ 303.4 Million |
| Neurovascular Guidewires Market Size Value in 2022 | US$ 316.2 Million |
| Neurovascular Guidewires Market Size Value in 2028 | US$ 399.1 Million |
| Neurovascular Guidewires Market Historical CAGR (2013 to 2021) | 3.4% |
| Neurovascular Guidewires Market CAGR (2022 to 2028) | 4.0% |
Expansion of the healthcare industry and rapid development of healthcare infrastructure across emerging economies are propelling the demand for neurovascular guidewires. Growing prevalence of aneurysms and neurological disorders will aid the growth in the market.
On account of this, the global neurovascular guidewires market size is expected to reach US$ 399.1 Mn by the end of 2028. In terms of product, straight tip guidewires are expected to dominate the market, followed by shapeable tip guidewires.
Backed by these factors, the demand for neurovascular guidewires is expected to account for over 8.5% of total sales in the global guidewires market.
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| Particulars | Details |
|---|---|
| H1, 2021 | 3.95% |
| H1, 2022 Projected | 3.96% |
| H1, 2022 Outlook | 3.86% |
| BPS Change - H1, 2022 (O) - H1, 2022 (P) | (-) 10 ↓ |
| BPS Change - H1, 2022 (O) - H1, 2021 | (-) 9 ↓ |
Future Market Insights present a comparative analysis related to the market growth rates and development prospects in the global neurovascular guidewires market. The effect of macro and industry factors have a significant impact on the market.
The market is subject to developments like novel product development such as DRIVEWIRE™, which provides efficient access in difficult neuro and peripheral vascular procedures and Zoom WireTM 14 guidewire line, which is used to acquire access during difficult neurovascular and peripheral vascular procedures, including ischemic and hemorrhagic stroke.
Such recent developments are happening among the key market players mainly to expand the portfolio of the products for the neurovascular guidewires market.
According to FMI analysis, the variation between the BPS values observed in the neurovascular guidewires market in H1, 2022 - Outlook over H1, 2022 Projected reflects a decline of 10 BPS units. As compared to H1-2021, the market is expected to dip by 9 BPS in H1 -2022.
Key reasons for this change in growth rate in the market are owed to the versatility of the guidewire and the high cost of the minimally invasive surgeries, which influenced the growth in the market.
In contrast with the mentioned aspects above, some driving points will have a positive impact on the industry growth, include rise in demand for advanced guidewires which are focused on less patient discomfort and ease of insertion and a rising number of interventional diagnostic procedures.
As per Future Market Insights (FMI), the sales in the global neurovascular guidewires market surpassed US$ 303.4 Mn by the end of 2021. With increasing sales of straight tip guidewires, the market is expected to grow two-fold between 2022 and 2028.
Rising number of minimally invasive spine and cervical surgeries, along with neurovascular neuroradiology procedures will propel the growth in the market. Besides this, advancements in technology and adoption of new equipment are some of the factors increasing the sales in the market.
As per FMI, regionally, East Asia is expected to dominate the global neurovascular guidewires market during the forecast period. Growth in the region is attributable to the growing demand for new treatment options and rising incidence of neurovascular diseases.
Furthermore, with growing preference for micro-sensors and fiber optics and need for high accuracy in neurovascular intervention procedures is resulting in demand for advanced laser straight tip guidewires.
“Rising Number of Minimally Invasive Spine and Cervical Surgery to Boost the Market”
According to the Centers for Disease Control and Prevention (CDC), nearly 90% of people in the U.S. suffer from ischemic strokes and around 10% of these strokes result in death. To decrease the rising burden, healthcare professionals are increasingly investing in development of advanced guidewires.
Also, as minimally invasive surgeries have lower risk of trauma, increasing number of patient in need for spine or cervical surgery are preferring these procedures. On the back of this, demand for these guidewires are expected to increase over the forecast period.
“Technological Advancements in Neuroradiology Procedures to Improve the Growth”
Aneurysm and arteriovenous malformations procedures require 1.7 to 1.8 cm guidewire per procedure. Hence, to improve the flexibility and accuracy, medical companies are investing in new technology innovations for the treatment of ischaemic stroke, such as stents.
This is expected to increase the demand for straight tip guidewires, driving the adoption of neurovascular guidewires. Also, growing use of straight tip guidewires in cannulation, bridging difficulties during navigating various vessels anatomies remains lucrative for the growth in the market.
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“Demand for Low-Cost Neurosurgeries to Increase Straight Tip Guidewires Sales”
As per Future Market Insights, North America and Europe are expected to collectively hold over 50% of global sales in 2022. Increasing demand for neurovascular guidewires in the U.K. is expected to augment the sales in Europe.
Rising prevalence of neurological procedures in the country is providing impetus to the demand for neurovascular straight tip guidewires. Additionally, improved healthcare infrastructure in the U.K. is aiding the growth in the market.
Shifting preference for less-time consuming and low-cost neurosurgeries is driving the adoption of straight tip guidewires in the U.K. On the back of this, the U.K. is expected to spearhead the growth in the Europe market.
“Preference for Minimally Invasive Spine Surgeries to Propel Neurovascular Guidewires Sales”
As per Future Market Insights, India is expected to witness fastest growth in the South Asia neurovascular guidewires market. The demand for neurovascular guidewires in India is expected to surge on the back of favourable government reimbursement policies and developing healthcare infrastructure.
Increasing prevalence of neurological disorders in India is expected to create growth opportunities for neurovascular guidewires market players. Also, growing geriatric population is resulting in increasing demand for minimally invasive spine surgeries in the country.
As per FMI, South Asia will account for significant share, followed by East Asia in the global neurovascular guidewires market through 2028.
“Rising Prevalence of Neurological Surgeries to Augment Neurovascular Guidewires Sales”
In the U.S. over 1.2 million neurological surgeries were performed until 2019, as per the Stanford Healthcare Report. The number of neurological surgeries are expected to increase with rising prevalence of neurological disorder.
Also, increasing health consciousness and growing preference for minimally invasive surgeries will fuel the demand for neurovascular guidewires in the U.S. Besides this, rapid development in the U.S. healthcare infrastructure and growing demand for advanced equipment will fuel the sales in the U.S.
Based on these factors, the U.S. is expected to dominate the North America neurovascular guidewires market between 2022 and 2028.
“Over 36.1% of Neurovascular Guidewires Sales to be Contributed by Straight Tip Guidewires”
According to FMI, the straight tip guidewires segment is expected to account for more than 1/3rd of total sales through 2028. Healthcare professionals prefer straight tip for neurovascular guidewires as they have flexible tips.
The risk of trauma to the blood vessel, with straight tip, is very less. Flexible tip of guidewires at the proximal end have bent tip at the distal end, which provides even more flexibility and protection for the vessel during insertion.
Hence, demand for these guidewires is expected to increase the sales in the market, opines Future Market Insights.
“Preference for Minimally Invasive Spine Surgery to Fuel Neurovascular Guidewires Sales”
Based on application, aneurysms and intra-and extra-cranial angioplasty segment reflected highest applicability of neurovascular guidewires. However, with going preference for minimally invasive surgeries, especially among geriatric population, will propel the growth in the segment.
According to the Centers for Disease Control and Prevention, over 87% of all strokes are ischemic strokes and nearly 10% of these strokes result in death within a period of one month.
Also, every year around 800,000 people in the U.S. suffer from annual stroke and nearly 130,000 succumb to the same, states the American Stroke Association. Hence, rising prevalence of neurovascular diseases such as cerebral infarctions is increasing the number of surgical procedures.
Backed by these factors, application of neurovascular guidewires for minimally invasive spine surgeries will aid the growth in the market.
“Attributes such as Accuracy and Flexibility to Increase Hydrophilic Guidewires Sales”
In terms of coating type, FMI estimates, hydrophilic guidewires to dominate the market during the forecast period. Increasing demand for these guidewires across hospitals and neurology centers will continue to boost the sales in the segment.
Improved accuracy and speed provided by hydrophilic guidewires during surgeries is the major factor underpinning the growth in the segment. Hydrophilic guidewires are coated with a coating that becomes slicker when exposed to water or blood.
Due to the flexibility and easy to use attributes of these wires, demand for hydrophilic neurovascular guidewires is expected to increase over the forthcoming years. Hence, key companies such as Boston Scientific are developing hydrophilic guidewire to capitalize on surging demand.
“Increasing Number of Minimally Invasive Cervical Surgeries Conducted in Hospitals to Boost Sales”
With increasing prevalence of neurological disorders, along with increasing number of neurovascular neuroradiology procedures in hospitals will create growth opportunities for the market.
Additionally, increasing use of neurovascular guidewires for performing minimally invasive spine and cervical surgery will propel the demand in the market. Besides this, rapid development of healthcare infrastructure across the globe will aid the growth in the segment
Subsequently, governments in emerging economies such as India and China are investing extensively to upgrade the healthcare facilities and equipment will further boost the growth in the segment.
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Leading healthcare companies operating in the neurovascular guidewires market are focusing on strategic mergers, acquisitions, and collaborative agreements to strengthen their sales and distribution networks.
Meanwhile, some of the other players are investing in research and development activities to develop advanced products and gain competitive edge in the market.
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| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2028 |
| Historical Data Available for | 2013 to 2021 |
| Market Analysis | US$ Million for Value |
| Key Regions Covered | North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Nordic, Russia, Poland, China, India, Thailand, Indonesia, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, others. |
| Key Market Segments Covered | Product, Application, Coating Type, End User, and Region |
| Key Companies Profiled |
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| Pricing | Available upon Request |
Product:
Application:
Coating Type:
End User:
Region:
The market expanded at a CAGR of 4.0% through 2028.
The neurovascular guidewires market is predicted to register a valuation of US$ 399.1 million through 2032.
Preference for minimally invasive spine surgeries makes India the leading market.
Aneurysms and intra-and-extra-cranial angioplasty segments reflected the highest applicability of neurovascular guidewires.
Hospitals are the primary end user in the neurovascular guidewires market.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand Side Trends 1.3. Supply Side Trends 1.4. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Key Market Trends 3.1. Key Trends Impacting the Market 3.2. Product Innovation / Development Trends 4. Key Success Factors 4.1. Reimbursement Scenario 4.2. Regulatory Scenario 5. Global Neurovascular Guidewires Market - Pricing Analysis 5.1. Regional Pricing Analysis by Product Type 5.2. Pricing Break-up 5.2.1. Manufacturer Level Pricing 5.2.2. Distributor Level Pricing 5.3. Global Average Pricing Analysis Benchmark 6. Global Neurovascular Guidewires Market Demand (in Value or Size in US$ Mn) Analysis 2013-2021 and Forecast, 2022-2028 6.1. Historical Market Value (US$ Mn) Analysis, 2013-2021 6.2. Current and Future Market Value (US$ Mn) Projections, 2022-2028 6.2.1. Y-o-Y Growth Trend Analysis 6.2.2. Absolute $ Opportunity Analysis 7. Market Background 7.1. Macro-Economic Factors 7.1.1. Global GDP Growth Outlook 7.1.2. Global Healthcare Expenditure Outlook 7.2. Forecast Factors - Relevance & Impact 7.2.1. Top Companies Historical Growth 7.2.2. Technology Advancement 7.3. Value Chain 7.4. Market Dynamics 7.4.1. Drivers 7.4.2. Restraints 7.4.3. Opportunity Analysis 8. Global Neurovascular Guidewires Market Analysis 2013-2021 and Forecast 2022-2028, by Product Type 8.1. Introduction / Key Findings 8.2. Historical Market Size (US$ Mn) and Volume Analysis by Product Type, 2013 - 2021 8.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast by Product Type, 2022 - 2022 8.3.1. Shapeable Tip Guidewires 8.3.2. Straight Tip Guidewires 8.3.3. Angled Tip Guidewires 8.3.4. Round Curve Tip Guidewires 8.4. Market Attractiveness Analysis by Product Type 9. Global Neurovascular Guidewires Market Analysis 2013-2021 and Forecast 2022-2028, by Coating Type 9.1. Introduction / Key Findings 9.2. Historical Market Size (US$ Mn) and Volume Analysis by Coating Type, 2013 - 2021 9.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast by Coating Type, 2022 - 2022 9.3.1. Hydrophilic Guidewires 9.3.2. Hydrophobic Guidewires 9.4. Market Attractiveness Analysis by Product Type 10. Global Neurovascular Guidewires Market Analysis 2013-2021 and Forecast 2022-2028, by Application 10.1. Introduction / Key Findings 10.2. Historical Market Size (US$ Mn) and Volume Analysis by Application, 2013 - 2021 10.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast by Application, 2022 - 2022 10.3.1. Arteriovenous malformations 10.3.2. Intracranial and extracranial angioplasty 10.3.3. Aneurysms 10.3.4. Minimally Invasive Spine Surgery 10.3.5. Cerebral Angiography 10.4. Market Attractiveness Analysis by Application 11. Global Neurovascular Guidewires Market Analysis 2013-2021 and Forecast 2022-2028, by End User 11.1. Introduction / Key Findings 11.2. Historical Market Size (US$ Mn) and Volume Analysis by End Use, 2013 - 2021 11.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast by End Use, 2022 - 2022 11.3.1. Hospitals 11.3.2. Ambulatory Surgical Centers 11.3.3. Neurology Centers/Independent Cath Labs 11.4. Market Attractiveness Analysis by End User 12. Global Neurovascular Guidewires Market Analysis 2013-2021 and Forecast 2022-2028, by Region 12.1. Introduction 12.2. Historical Market Size (US$ Mn) and Volume Analysis by Region, 2013 - 2021 12.3. Current Market Size (US$ Mn) and Volume Analysis and Forecast by Region, 2022 - 2022 12.3.1. North America 12.3.2. Latin America 12.3.3. Europe 12.3.4. Middle East and Africa (MEA) 12.3.5. East Asia 12.3.6. South Asia 12.3.7. Oceania 12.4. Market Attractiveness Analysis by Region 13. North America Neurovascular Guidewires Market Analysis 2013-2021 and Forecast 2022-2028 13.1. Introduction 13.2. Pricing Analysis 13.3. Historical Market Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2013 - 2021 13.4. Market Size (US$ Mn) and Volume Forecast by Market Taxonomy, 2022 - 2028 13.4.1. by Country 13.4.1.1. U.S. 13.4.1.2. Canada 13.4.2. by Product Type 13.4.3. by Application 13.4.4. by Coating Type 13.4.5. by End Use 13.5. Market Attractiveness Analysis 13.5.1. by Country 13.5.2. by Product Type 13.5.3. by Application 13.5.4. by Coating Type 13.5.5. by End Use 13.6. Market Trends 13.7. Key Market Participants - Intensity Mapping 13.8. Drivers and Restraints - Impact Analysis 14. Latin America Neurovascular Guidewires Market Analysis 2013-2021 and Forecast 2022-2028 14.1. Introduction 14.2. Pricing Analysis 14.3. Historical Market Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2013 - 2021 14.4. Market Size (US$ Mn) and Volume Forecast by Market Taxonomy, 2022 - 2028 14.4.1. by Country 14.4.1.1. Brazil 14.4.1.2. Mexico 14.4.1.3. Rest of Latin America 14.4.2. by Product Type 14.4.3. by Application 14.4.4. by Coating Type 14.4.5. by End User 14.5. Market Attractiveness Analysis 14.5.1. by Country 14.5.2. by Product Type 14.5.3. by Application 14.5.4. by Coating Type 14.5.5. by End User 14.6. Market Trends 14.7. Key Market Participants - Intensity Mapping 14.8. Drivers and Restraints - Impact Analysis 15. Europe Neurovascular Guidewires Market Analysis 2013-2021 and Forecast 2022-2028 15.1. Introduction 15.2. Pricing Analysis 15.3. Historical Market Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2013 - 2021 15.4. Market Size (US$ Mn) and Volume Forecast by Market Taxonomy, 2022 - 2028 15.4.1. by Country 15.4.1.1. Germany 15.4.1.2. Italy 15.4.1.3. France 15.4.1.4. U.K. 15.4.1.5. Spain 15.4.1.6. BENELUX 15.4.1.7. Russia 15.4.1.8. Rest of Europe 15.4.2. by Product Type 15.4.3. by Application 15.4.4. by Coating Type 15.4.5. by End User 15.5. Market Attractiveness Analysis 15.5.1. by Country 15.5.2. by Product Type 15.5.3. by Application 15.5.4. by Coating Type 15.5.5. by End User 15.6. Market Trends 15.7. Key Market Participants - Intensity Mapping 15.8. Drivers and Restraints - Impact Analysis 16. South Asia Neurovascular Guidewires Market Analysis 2013-2021 and Forecast 2022-2028 16.1. Introduction 16.2. Pricing Analysis 16.3. Historical Market Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2013 - 2021 16.4. Market Size (US$ Mn) and Volume Forecast by Market Taxonomy, 2022 - 2028 16.4.1. by Country 16.4.1.1. India 16.4.1.2. Thailand 16.4.1.3. Indonesia 16.4.1.4. Malaysia 16.4.1.5. Rest of South Asia 16.4.2. by Product Type 16.4.3. by Application 16.4.4. by Coating Type 16.4.5. by End User 16.5. Market Attractiveness Analysis 16.5.1. by Country 16.5.2. by Product Type 16.5.3. by Application 16.5.4. by Coating Type 16.5.5. by End User 16.6. Market Trends 16.7. Key Market Participants - Intensity Mapping 16.8. Drivers and Restraints - Impact Analysis 17. East Asia Neurovascular Guidewires Market Analysis 2013-2021 and Forecast 2022-2028 17.1. Introduction 17.2. Pricing Analysis 17.3. Historical Market Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2013 - 2021 17.4. Market Size (US$ Mn) and Volume Forecast by Market Taxonomy, 2022 - 2028 17.4.1. by Country 17.4.1.1. China 17.4.1.2. Japan 17.4.1.3. South Korea 17.4.2. by Product Type 17.4.3. by Application 17.4.4. by Coating Type 17.4.5. by End Use 17.5. Market Attractiveness Analysis 17.5.1. by Country 17.5.2. by Product Type 17.5.3. by Application 17.5.4. by Coating Type 17.5.5. by End User 17.6. Market Trends 17.7. Key Market Participants - Intensity Mapping 17.8. Drivers and Restraints - Impact Analysis 18. Oceania Neurovascular Guidewires Market Analysis 2013-2021 and Forecast 2022-2028 18.1. Introduction 18.2. Pricing Analysis 18.3. Historical Market Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2013 - 2021 18.4. Market Size (US$ Mn) and Volume Forecast by Market Taxonomy, 2022 - 2028 18.4.1. by Country 18.4.1.1. Australia 18.4.1.2. New Zealand 18.4.2. by Product Type 18.4.3. by Application 18.4.4. by Coating Type 18.4.5. by End User 18.5. Market Attractiveness Analysis 18.5.1. by Country 18.5.2. by Product Type 18.5.3. by Application 18.5.4. by Coating Type 18.5.5. by End User 18.6. Market Trends 18.7. Key Market Participants - Intensity Mapping 18.8. Drivers and Restraints - Impact Analysis 19. Middle East and Africa Neurovascular Guidewires Market Analysis 2013-2021 and Forecast 2022-2028 19.1. Introduction 19.2. Pricing Analysis 19.3. Historical Market Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2013 - 2021 19.4. Market Size (US$ Mn) and Volume Forecast by Market Taxonomy, 2022 - 2028 19.4.1. by Country 19.4.1.1. GCC Countries 19.4.1.2. Northern Africa 19.4.1.3. South Africa 19.4.1.4. Rest of Middle East and Africa 19.4.2. by Product Type 19.4.3. by Application 19.4.4. by Coating Type 19.4.5. by End Use 19.5. Market Attractiveness Analysis 19.5.1. by Country 19.5.2. by Product Type 19.5.3. by Application 19.5.4. by Coating Type 19.5.5. by End User 19.6. Market Trends 19.7. Key Market Participants - Intensity Mapping 19.8. Drivers and Restraints - Impact Analysis 20. Emerging Countries Neurovascular Guidewires Market Analysis 2013-2021 and Forecast 2022-2028 20.1. Introduction 20.1.1. Market Value Proportion Analysis, by Key Countries 20.1.2. Global Vs. Country Growth Comparison 20.2. China Neurovascular Guidewires Market Analysis 20.2.1. Introduction 20.2.2. Market Value Proportion Analysis by Market Taxonomy 20.2.3. Market Volume (Mn Units) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy 20.2.3.1. by Product Type 20.2.3.2. by Coating Type 20.2.3.3. by End User 20.2.3.4. by Application 20.2.4. China Neurovascular Guidewires Market - Competition Landscape 20.2.5. China - Trade Analysis 20.3. India Neurovascular Guidewires Market Analysis 20.3.1. Introduction 20.3.2. Market Value Proportion Analysis by Market Taxonomy 20.3.3. Market Volume (Mn Units) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy 20.3.3.1. by Product Type 20.3.3.2. by Coating Type 20.3.3.3. by End User 20.3.3.4. by Application 20.3.4. India Neurovascular Guidewires Market - Competition Landscape 20.4. Brazil Neurovascular Guidewires Market Analysis 20.4.1. Introduction 20.4.2. Market Value Proportion Analysis by Market Taxonomy 20.4.3. Market Volume (Mn Units) and Value (US$ Mn) Analysis and Forecast by Market Taxonomy 20.4.3.1. by Product Type 20.4.3.2. by Coating Type 20.4.3.3. by End User 20.4.3.4. by Application 20.4.4. Brazil Neurovascular Guidewires Market - Competition Landscape 21. Market Structure Analysis 21.1. Market Analysis by Tier of Companies (Neurovascular Guidewiress) 21.2. Market Concentration 21.3. Market Share Analysis of Top Players 21.4. Market Presence Analysis 21.4.1. by Regional footprint of Players 21.4.2. Product foot print by Players 21.4.3. Channel Foot Print by Players 22. Competition Analysis 22.1. Competition Dashboard 22.2. Pricing Analysis by Competition 22.3. Competition Benchmarking 22.4. Competition Deep Dive 22.4.1. Asahi Intecc Co., Ltd 22.4.1.1. Overview 22.4.1.2. Product Portfolio 22.4.1.3. Profitability by Market Segments (Product/Channel/Region) 22.4.1.4. Sales Footprint 22.4.1.5. Strategy Overview 22.4.1.5.1. Marketing Strategy 22.4.1.5.2. Product Strategy 22.4.1.5.3. Channel Strategy 22.4.2. Stryker Corporation 22.4.3. Medtronic plc 22.4.4. Boston Scientific Corporation 22.4.5. B. Braun Melsungen AG 22.4.6. Cardinal Health, Inc 22.4.7. Cook Medical Inc 22.4.8. Smiths Group plc 22.4.9. Integra LifeSciences Corporation 22.4.10. Conmed Corporation. 23. Assumptions and Acronyms Used 24. Research Methodology
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Neurovascular Guidewires Market
