Neurovascular Guidewires Market

Neurovascular Guidewires Market: Positive Clinical Trial Outcomes Boosting the Rate of Adoption: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2028

Neurovascular Guidewires Market - Key Research Findings

  1. Global neurovascular guidewires market size in 2018 – Nearly US$ 262 Mn
  2. Neurovascular guidewires market is projected to record a CAGR of 3.9% during the forecast period (2018–2028).
  3. According to the Centers for Disease Control and Prevention (CDC),
    • The prevalence of ischemic strokes (2016) was approximately 87% in the US alone.
  4. North America and Europe will remain the largest regional markets for neurovascular guidewires.
    • The rising number of minimally invasive surgeries & neurovascular neuroradiology procedures, advancements in technology, the adoption of new equipment, and the rising prevalence of neurovascular diseases are among the key factors that are likely to assist growth of the neurovascular guidewires market.
  5. East Asia holds a high growth potential for the neurovascular guidewires market, as the demand for new treatment options is rapidly increasing, driven by the rising burden of aneurysm and neurovascular diseases in the region.
  6. Straight tip guidewires are likely to witness maximum growth rate in the neurovascular guidewires market through 2028.
    • The nature of micro-sensors and fiber optics, ease of operability, and high accuracy in neurovascular intervention procedures have resulted ain extensive usage of laser straight tip guidewires.

Top 4 Factors Shaping the Neurovascular Guidewires Market

  • Rising number of minimally invasive surgeries and neurovascular neuroradiology procedures

    According to the Centers for Disease Control and Prevention, about 87% of all strokes are ischemic strokes and around 10% of these strokes result in death within a period of one month. According to the American Stroke Association, the annual stroke prevalence in the US reach around 800,000 – resulting in approximately 130,000 deaths, every year.

    The World Health Organization claims that one death by stroke occurs every 10 seconds around the world. The rising prevalence of neurovascular diseases, especially strokes & cerebral infarctions, and the requirement of surgical procedures, are expected to drive the neurovascular guidewire market.

    More than 50 million surgical procedures were performed in the US in 2016 and every year, the number of surgical procedures is growing. Moreover, the preference for minimally invasive surgeries is increasing. Neurovascular guidewires are used in various minimally invasive surgeries because of their specifications such as their thinness and flexibility, which enables them to be easily inserted into the body to guide larger equipment or instruments such as feeding tubes, catheters, and others. Improvements in surgical procedures and the increasing demand for minimally invasive surgeries is boosting the usage of neurovascular guidewires during minimally invasive interventional procedures.

  • Rising prevalence of neurovascular diseases is likely to boost the neurovascular guidewires market

    At present, around 87% of the people worldwide are suffering from stroke, according to the Centers for Disease Control and Prevention. The incidence of ischemic stroke is predicted to increase, especially in the lower to middle-income or underdeveloped countries, according to the World Bank Group. Micro-sensors and fiber optic guidewires improve the results of several surgical procedures, thus broadening the utilization of guidewires from neurovascular diseases to coronary & urological diseases.

  • Positive outcomes of clinical trials are expected to contribute to the expansion of neurovascular guidewires market

    Clinical trials have demonstrated the benefits of guidewires such as lubricious coating, sterility, and biocompatibility, efficacy in the treatment procedure of aneurysm, cerebral infarction, and ischemic stroke, which is another factor estimated to the boost the neurovascular guidewires market.

    The ongoing studies of new technologies to improve the quality of treatment with the help of neuro-intervention procedures, such as a gold coil at the tip for radio capacity and a distal tip that is specially engineered for neuro-intervention procedures, are expected to support the growth of neurovascular guidewires market.

  • Increasing number of neurovascular neuroradiology procedures and technological advancements

    The increasing number of neurovascular neuroradiology procedures is boosting the demand for access products, which is driving the usage of guidewires. Aneurysm and AVM procedures require 1.7 to 1.8 cm guidewire per procedure, and new technology innovations for the treatment of ischaemic stroke, such as stents, are driving the adoption of neurovascular guidewires. Neurovascular guidewires improve the distal navigation and trackability features of the guidewires that are used in various complex neurovascular intervention procedures.

    Significant advancements have been witnessed in guidewire technology, which have resulted in the initial success rates, as well as decreased the difficulties pertaining to the usage of guidewires. Developments in guidewire technology as well as in their framework have resulted in enhanced the efficacy and safety of movable wire systems.

Neurovascular Guidewires Market Structure Analysis

  • Tier 1 companies are focusing on strategic mergers, acquisitions, and collaborative agreements in an effort to strengthen sales and distribution networks.
  • Asahi Intecc Co., Ltd recently signed an agreement with another industry giant, Medtronic plc, over distribution of neurovascular guidewires. The company also announced direct sales of percutaneous transluminal coronary angioplasty (PTCA) guidewires in the US.
  • Stryker Corporation recently announced the acquisition of K2M Group Holdings Incorporation, over a minimally invasive solutions range.

Neurovascular Guidewires – Potent Innovation in Neurointervention Space

Healthcare providers’ growing gravitation towards advanced and minimally invasive surgical instruments has paced up the demand for neurovascular guidewires. Wide prevalence of neurovascular diseases, especially strokes and cerebral infarctions, coupled with the growing need for surgical procedures is sustaining growth in neurovascular guidewires market. The neurovascular guidewires market is expected to expand on the back of various neurointervention-associated on-going clinical trials and the positive results of existing studies.

Strong Safety & Utility Profile - Neurovascular Guidewires Capturing Limelight

Neurovascular guidewires improve trackability and facilitate the advancement of neurovascular access catheters via complicated anatomies during the neurovascular intervention. Shifting preference for less-time consuming and low-cost neurosurgeries is driving the adoption of hybrid guidewires. Sales of neurovascular guidewires are likely to remain upheld by the dire need for minimally invasive surgical procedures that prevent post-operative trauma and complications.

North America & Europe to Collectively Hold Over 50% Market Share

North America and Europe will continue to remain the largest regional markets for neurovascular guidewires due to favorable reimbursement scenario and the availability of technologically advanced base for neuro-health services. Lack of awareness about technologically advanced neuro-procedures and instruments anticipated to restrict sales in the developing regions.

The Broader Perspective

Hospitals and neurology centers or independent cath labs will continue to use hydrophilic- and hydrophobic- coated neurovascular guidewires, given that innovative instruments hold benefits in terms of accuracy and speed during surgeries. Growing need for highly flexible, easy to use, and easy access to the surgeon is fueling the sales of different types of neurovascular guidewires.

Precision & Ease of Operability – Key Factors Driving Sales of Straight Tip Guidewires

Hospitals and neurology centers are considerably leveraging convenience-ensuring laser straight tip guidewires that offer ease of operability, and high accuracy in neurovascular intervention procedures. Growing use of straight tip guidewires in cannulation, bridging difficulties during endoscopic retrograde cholangiopancreatography, and navigating various vessels anatomies remains lucrative for market growth.

Key Segment

The global neurovascular guidewires market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach in front of the reader.

By Product

  • Shapeable Tip Guidewires
  • Straight Tip Guidewires
  • Angled Tip Guidewires
  • Round curve Tip Guidewires 

By Application

  • Arteriovenous Malformations
  • Intracranial and Extra-Cranial Angioplasty
  • Aneurysms
  • Minimally Invasive Spine surgery
  • Cerebral Angiography

By Coating Type

  • Hydrophilic Guidewires
  • Hydrophobic Guidewires

By End User

  • Hospitals
  • Laboratories
  • Research Institutes
  • Biopharmaceutical Companies
  • Others

By Region

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • MEA

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Neurovascular Guidewires Market