Neurovascular Guidewires Market: Structure and Overview of Key Market Forces Propelling Market
The global demand for
neurovascular guidewires will reach the valuation of nearly US$ 280
million in 2019, witnessing an estimated increase of 3.6% over 2018. Over
2018-2028, the global neurovascular
guidewires market revenue is
likely to expand 1.5X.
According to a new
research study of Future Market Insights,
- Straight tip guidewires, with a
current share of more than a third of the total market value, will retain
the dominant position in neurovascular guidewires market through 2028.
- Aneurysms and intra-and
extra-cranial angioplasty reflect highest applicability of neurovascular
guidewires.
- Hospitals, though anticipated
to reflect limited investment opportunities in the neurovascular guidewire
market, will remain the leading end-use segment with the maximum share in
terms of revenue generation.
The Increasing Number
of Neurovascular Disease Treatment Alternatives
Neurovascular
guidewires, among the latest innovations in the neurovascular disease treatment
landscape, has been pushing the number of neurovascular surgeries since
introduction. This according to the report will remain a key factor sustaining
demand for neurovascular guidewires in the global market over the coming years.
As the advent of
technology used in neurovascular surgeries has significantly increased the
number of treatment options for neurovascular diseases, the treatment by using
neurovascular guidewires is gaining ground rapidly owing to the relatively
lower risk associated with surgical treatment, over conventional surgeries. The
usage of guidewires is the mainstay for neurovascular therapy, along with new
technologies such as coating-based guidewires, which has contributed
substantially to the treatment options for complex lesions that are treated
surgically.
The increasing number
of neurovascular neuroradiology procedures is also boosting the demand for
access products, which is another factor driving the neurovascular guidewires
market. The number of neurovascular interventions is increasing with growing
awareness among surgeons about the cost benefit associated with the
neurovascular guidewires. Besides, reimbursement policies for outpatient
surgeries are also expected to propel the neurovascular guidewires market
revenue. Furthermore, an increase in the number of end users such as ambulatory
surgical centers in underdeveloped and developing countries is boosting the
number of outpatients cases, which is also expected to drive the overall market
for neurovascular guidewires.
Favorable
Reimbursement Scenario & Government Support
The growing prevalence
and incidence of cerebral infarction, aneurysm, and stroke is projected to fuel
the demand for neurovascular guidewires. Growth in the number of patients
suffering from ischemic stroke across the world is also estimated to boost the
adoption of neurovascular guidewire and contribute to the growth of the global
neurovascular guidewire market during the forecast period.
Similarly, increasing
incidence of arteriovenous malformations is also contributing to growth in the
demand for neurovascular guidewires. The increasing prevalence of intracranial
and extracranial angioplasty is another factor that is expected to drive the
neurovascular guidewires market.
Neurovascular
guidewires are effective and safe devices in neurovascular intervention
procedures for patients suffering from neurovascular diseases. Modifications in
reimbursement policies are encouraging the number of outpatients in developed
countries. Government initiatives and local reimbursement policies pertaining
to the usage of neurovascular guidewires are also expected to boost the
neurovascular guidewire market over the forecast period.
Rising awareness about
cerebral infarction is also estimated to contribute to the growth of the
market. The reimbursement policies for the treatment of brain aneurysm are also
contributing to the growth of the neurovascular guidewires market as the
patients are not required to pay from their own pocket.
FMI's report tracks
some of the key companies operating in the neurovascular guidewire market,
which include Boston Scientific Corporation, Medtronic, Penumbra Inc., Stryker,
Asahi Intecc Co. Ltd, Integer Holding Corporation, Cordis Corporation, CONMED
Corporation, phenox GmbH, and Integer Holding Corporation, among others.
About Us
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616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
T (UK): + 44 (0)20-7692-8790
Sales: sales@futuremarketinsights.com
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