Manufacturers are developing next-generation guidewires to increase their sales strategically
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five leading vendors for the global vascular guidewires market in their latest research report. This report also lists 11 other prominent vendors who are expected to contribute to this market’s growth between 2016-2020.
To identify the top vendors, Technavio’s market research analysts have taken into account the revenue generated by the sales of the following vascular guidewires to hospitals and ambulatory surgical centers (ASCs). .
- Coronary guidewires: These are tube-like structures used as a guide to implant a stent through a catheter in the coronary artery that supplies blood to the heart. This procedure is also known as a percutaneous coronary intervention (PCI).
- Peripheral guidewires: These are a vital part of the peripheral vascular stenting procedure performed to improve blood flow in the arteries and veins. This procedure is widely used in supporting or guiding peripheral vascular stents in peripheral artery angioplasty.
This Technavio report, under cardiovascular devices vertical, is based on the synthesis, analysis, and interpretation of information about the global vascular guidewires market collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
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Competitive vendor landscape
The established vendors are focusing on expanding their product portfolio to intensify the competition in the market. Many regional and local sellers are introducing low-cost vascular guidewires to sustain the competition in the market. The manufacturers are strategically presenting products with advanced features such as design, material, and easy stent delivery system to increase the customer base. The vendors are adopting competitive pricing and offering cost-effective equipment to create their space in the fierce market. They are introducing products with better quality, special features, and are integrating blood pressure monitors to increase their global footprint. The competition in the market is expected to intensify during the forecast period with the rising technological innovations and product extensions through mergers and acquisitions.
“The vendors are introducing customized guidewires to reduce surgery time, injuries, and associated risks. They are also forming strategic partnerships with contract research organizations for research and development of low-cost guidewire systems. The increasing collaborations among vendors to raise direct sales of guidewires is changing the global vascular guidewires market landscape,” says Barath Palada, a lead analyst at Technavio for research on cardiovascular devices.
Top five vendors in the vascular guidewires market space
Abbott Vascular
The company develops, manufactures, and markets a diversified line of health care products and services. It also sells items worldwide through affiliates and distributors that include diagnostics, pharmaceuticals, nutritional, and vascular products. The company offers extensive reimbursement and health economic expertise to its customers. It focuses on delivering clinical evidence on unmet needs with a comprehensive menu of lab solutions, expanding its product portfolio, and improving the existing product portfolio.
Some of the key products: Coronary guidewires (HI-TORQUE balance middleweight Elite guide wire peripheral guidewires and HI-TORQUE PILOT guide wire), ASAHI series (ASAHI confianza guide wires and ASAHI grand slam), and Peripheral intervention (Hi-Torque command guide wire and Hi-Torque Winn guide wire).
Boston Scientific
The company develops, manufactures, and markets medical devices for interventional medical specialties worldwide. It has a diverse guidewires product portfolio and offers different varieties of guidewires with innovative technology. Their main facilities are located in Ireland, Costa Rica, and Puerto Rico. In the recent times, the company collaborated with ASAHI INTECC to improve the care for individuals with CHDs and announced the launch of new atherectomy guidewires.
Some of the key products: Vascular surgery guidewires (Amplatz Super Stiff guidewire and Magic Torque guidewire) and Interventional cardiology guidewires (ChoICE extra support guide wire, Forté extra support guide wire, Kinetix guidewire, and SENTAI guide wire)
Cook Medical
Cook Medical designs, manufactures, and sells equipment for surgical, dental, hospital, and electromedical applications. The company sells its products through a vast network of distribution partners and supply chain customers. It offers medical devices for therapeutic and diagnostic procedures. The products offered are used for the treatment of symptomatic vascular disease of the iliac arteries, and atherosclerotic disease of the renal arteries.
Some of the key products: Access- wire guides (Cope Mandril wire guide, Fixed-Core wire guide, and Micropuncture nitinol wire guide), Diagnostic – wire guides (Fixed-Core wire guide, Movable-Core wire guide, and Newton wire guide), and Speciality – wire guides (McNamara Renal-Exchange wire guide, Reuter Tip-Deflecting wire guide, and Roadrunner extra support wire guide).
Cordis
The company develops, manufactures, and distributes drug-eluting stents, catheters, guidewires for interventional medicine, marginally invasive computer-based imaging, and electrophysiology applications. It offers a complete platform of steerable guidewires for a given specific clinical situation. AQUATRACK hydrophilic nitinol guidewire is one of such innovative products the company offers.
Some of the key products: EMERALD diagnostic guidewire, VISTA BRITE TIP guiding catheter, ATW all track wire, SHINOBI plus steerable guidewires, REFLEX steerable guidewires, and STORQ steerable guidewire.
Medtronic
Medtronic manufactures and trades image-guided surgery, intra-operative imaging systems, and offers web-based therapy management software solutions. Its manufacturing facilities are situated in Arizona, California, Colorado, Connecticut, Florida, Indiana, Massachusetts, Minnesota, and New Jersey. The company is focusing on expanding and marketing its products by increasing promotional support and advertisement. Recently, Medtronic collaborated with Covidien to maximize cross-selling opportunities.
Key products: Cougar guidewire, Intuition guidewire, ProVia guidewire, Thunder guidewire, and Zinger guidewire.
Other prominent vendors in this market include Asahi Intecc, B Braun, Biotronik, Brosmed Medical, CR Bard, GaltNeedleTech, Gore Medical, Jotec, Lepu Medical Technology, Merit Medical, OptiMed, and Volcano.
A more detailed analysis is available in the Technavio report, Global Vascular Guidewires Market 2016-2020. Technavio also customizes reports by other regions and specific segments upon request.
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