Global Report of Cardiac Guidewire and Catheters Market Size, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2016 and Forecast 2017-2024
Global Cardiac Guidewire and Catheters Market:
Cardiovascular diseases are one of the leading diseases worldwide. Cardiac guidewires and catheters are used to diagnosis and prevention of the cardiac diseases and process are known as cardiac catheterization. Catheters are usually hallowed flexible tube that can be inserted into a body cavity, duct or vessel. Catheters allow injecting fluids, distend a passageway for surgical instruments. Guide wires are stainless steel or metallic alloys that guide the cardiac catheter for placement.
The market for Cardiac Guidewire and Catheters is expected to grow at significant rate owing to increased cases of cardiovascular diseases. According to CDC, heart disease is the leading cause of death for both men and women. In addition, factors such as, increase in awareness about different cardio devices, less traumatic surgical experience, reduced hospital stay, and faster recovery are expected to boost the global cardiac guidewire and catheters market. However, high cost, lack of experienced healthcare professionals, and recent product recalls are hampering the cardiac guide wire and catheters market.
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The global Cardiac guidewire and catheters market has been divided into following categories-
- Product type
- Coronary Balloons
- Diagnostic Catheters
- Aspiration Catheters
- Guide catheter
- End-users
Hospitals, ambulatory Surgical Centers and cardiac centers.
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And lastly, on the basis of geographical regions, the global cardiovascular guidewire and catheters market have five major regions- North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America has emerged as a major market for owing to increase in demand for less invasive techniques, a prevalence of the cardiovascular diseases, and awareness about the cardiac diseases. Europe market is expected to grow at significant rate owing to increase in cardiac disease prevalence rates. Asia-Pacific region is expected to grow at faster rates due to developing healthcare infrastructure and increase in healthcare spending in the region.
Some of the key players in global cardiac guidewire and catheters market are Abbott Laboratories (U.S), Boston Scientific Corporation (U.S), Maquet (Germany), Medtronic (U.S), LivaNova PLC. (U.K), Terumo Medical Corporation (Japan), Johnson & Johnson Services Inc., (U.S), Biotronik (Germany) and Cordis Corporation (U.S) to name a few. In 2017, USFDA approved Abbott’s new sensor-enabled FlexAbility ablation catheter, designed to work with EnSite Precision cardiac mapping system and MediGuide Technology to safely treat atrial flutter (condition similar to atrial fibrillation) and heart rhythm disorder.
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The market competition is expected to grow higher with the rise in technological innovation and mergers and acquisition activities. Moreover, many local and regional vendors are offering specific application products for varied end-users. For instance, in 2014, Abbott laboratories acquired, an electrophysiology technology company Topera, Inc., by this acquisition enabled Abbott entered into catheter-based electrophysiology market.
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