Neurovascular Guidewires Market is expected to register a CAGR of 4.0% during the forecast period 2022-2028

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The global demand for neurovascular guidewires will reach the valuation of nearly US$280 million in 2022, an estimated increase of 3.6% from 2022. Over the period 2022-2028, the global demand Neurovascular Guidewires Market revenues are expected to increase by 1.5 times.

According to a new research study by Future Market Insights,

  • Straight-tip guidewires, with a current share of more than one-third of the total market value, will retain the dominant position in the neurovascular guidewire market through 2028.
  • Intra- and extra-cranial aneurysms and angioplasty reflect the greatest applicability of neurovascular guidewires.
  • Hospitals, though expected to reflect limited investment opportunities in the neurovascular guidewires market, will remain the major end-use segment with the maximum share in terms of revenue generation.

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The growing number of treatment alternatives for neurovascular disease

Neurovascular guidewires, among the latest innovations in the landscape of neurovascular disease treatment, have increased the number of neurovascular surgeries since their introduction. According to the report, this will remain a key factor in sustaining the demand for neurovascular guidewires in the global market over the coming years.

As the advent of technology used in neurovascular surgeries has greatly increased the number of treatment options for neurovascular disease, treatment using neurovascular guidewires is rapidly gaining traction due to the relatively lower risk associated. to surgical treatment, compared to conventional surgeries. The use of guidewires is the mainstay of neurovascular therapy, along with new technologies such as coated-based guidewires, which have significantly contributed to treatment options for complex lesions that are treated surgically.

The growing number of neurovascular neuroradiology procedures is also driving the demand for access products, which is another factor driving the neurovascular guidewires market. The number of neurovascular procedures is increasing with the growing awareness among surgeons of the cost-benefit associated with neurovascular guidewires. In addition, outpatient surgery reimbursement policies are also expected to propel neurovascular guidewires market revenue. In addition, an increase in the number of end users such as ambulatory surgery centers in underdeveloped and developing countries is increasing the number of outpatient cases, which is also expected to drive the overall neurovascular guidewire market.

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Favorable repayment scenario and government support

The increasing prevalence and incidence of cerebral infarctions, aneurysms and strokes are expected to fuel the demand for neurovascular guidewires. It is also estimated that growing number of ischemic stroke patients globally will drive the adoption of neurovascular guidewire and contribute to the growth of the global neurovascular guidewire market over the forecast period.

Likewise, the increasing incidence of arteriovenous malformations is also contributing to the growth in demand for neurovascular guidewires. The rising prevalence of intracranial and extracranial angioplasty is another factor expected to drive the neurovascular guidewires market.

Neurovascular guidewires are effective and safe devices in neurovascular interventional procedures for patients with neurovascular diseases. Changes in reimbursement policies are encouraging the number of outpatients in developed countries. Government initiatives and local reimbursement policies for the use of neurovascular guidewires are also expected to drive the neurovascular guidewires market over the forecast period.

Rising awareness of cerebral infarction is also estimated to contribute to the growth of the market. Reimbursement policies for cerebral aneurysm treatment are also contributing to the growth of the neurovascular guidewires market as patients are not required to pay out of pocket.

The IMF report follows some of the major companies operating in the neurovascular guidewires market including 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.

Neurovascular Guidewires Market by Category

Product:

  • Formable tip guide wires
  • Straight Tip Guidewires
  • Bent Tip Guidewires
  • Round Curve Tip Guidewires

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Application:

  • Arteriovenous malformations
  • Intracranial and extracranial angioplasty
  • Aneurysms
  • Minimally invasive spine surgery
  • Cerebral angiography

Type of coating:

  • Hydrophilic Guidewires
  • Hydrophobic Guidewires

Final user:

  • Hospitals
  • Laboratories
  • Research institutes
  • Biopharmaceutical companies
  • Others

Region:

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

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