April 10, 2019 — According to a new research study, 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. The report from Future Market Insights notes that aneurysms and intra-and extra-cranial angioplasty reflect highest applicability of neurovascular guidewires.
Furthermore 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, according to the FMI report.
Increasing Number of Neurovascular Disease Treatment Alternatives
Neurovascular guidewires, among the latest innovations in the neurovascular disease treatment landscape, have 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 new technology has increased the number of treatment options for neurovascular diseases, treatment with neurovascular guidewires is gaining ground rapidly. This is owing to the relatively lower risk associated with surgical treatment over conventional surgeries. The usage of guidewires, along with new technologies such as coating-based guidewires, 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. The number of neurovascular interventions is increasing with growing awareness among surgeons about the cost benefit associated with neurovascular guidewires. In addition, reimbursement policies for outpatient surgeries are also expected to propel 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 and 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 guidewires during the forecast period. Similarly, increasing incidence of arteriovenous malformations is also contributing to growth in demand for neurovascular guidewires, as well as the increasing prevalence of intracranial and extracranial angioplasty.
Modifications in reimbursement policies are encouraging the number of outpatient procedures with neurovascular guidewires in developed countries. Government initiatives and local reimbursement policies pertaining to the usage of neurovascular guidewires are also expected to boost the market over the forecast period.
Rising awareness about cerebral infarction is also estimated to contribute to the growth of the market. Reimbursement policies for the treatment of brain aneurysm are also contributing as 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:
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Boston Scientific Corp.;
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Medtronic;
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Penumbra;
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Stryker;
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Asahi Intecc;
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Integer Holding Corp;
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Cordis Corp;
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CONMED Corp;
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phenox GmbH; and
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Integer Holding Corp., among others.
Watch the VIDEO: Basics of Interventional Guidewire Design and Function, an interview with Dimitri Karmpaliotis, M.D., Ph.D., FACC
For more information: www.futuremarketinsights.com
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