Published On : 04 December, 2017
Therapeutic Medical Guide wire: Market Introduction
The current landscape of pharmaceutical and healthcare operates under the scaffolds of medical devices and instruments which make the treatment precise and potent. Medical guide wire is a medical device used in multiple surgical interventions such as, interventional cardiology, interventional radiology, gastroenterology, vascular surgery, and many others. The main purpose of guide wire is to guide the catheter for placement. Majorly, there are two type of guide wires, i.e. solid guide wire, and wrapped guide wire. Both the types has one end rigid and other end flexible. The flexible tip enters the blood vessel first to prevent damage to the vessel. There are numerous players operating in this global therapeutic medical guide wire market. Boston Scientific has been recognized as a global leader with a broad range of products serving the medical devices industry. The company has a huge brand image, broad product portfolio, and strong distribution network around the globe. Boston Scientific is known for its investment in infrastructure in emerging markets to strengthen their sales. The company has also entered various acquisition and collaborations to broaden their product portfolio. For instance, Boston Scientific acquired Sadra Medical, Inc. to develop repositionable and retrievable device for the treatment of patients with severe aortic stenosis. Medtronic plc is another well-established player in the therapeutic medical guide wire market. The company is the global leader in medical technology services. Medtronic Public Limited Company develops, manufactures and markets their medical devices to clinics & hospitals in approx. 160 countries. The company is well-known for their broad range of therapeutic offerings in the medical devices industry. Their position among the key medical guide wire manufacturers is due to their considerable global footprint through distributors and agents.
Future Hold for Mergers and Acquisitions Activity
In today's dynamic environment, many businesses are on the hunt for companies in the same industry for horizontal mergers, and acquisitions. Integration among companies offer various benefits such as diversification of products and services, selling of products to larger market, reduction in the cost of production, and the amount of external competition. Terumo Medical Corporation holds a strong position in therapeutic medical guide wire market. Terumo Medical Corporation also known as Sekisen Ken-onki Corporation by a group of medical scientists led by Dr. Kitasato Shibasaburō to produce medical thermometers in Japan. The company has profoundly evolved by expanding market in the developing regions. Terumo Corporation has launched three major guide wire products i.e. Radifocus Guidewire M Stiff type – Guidewire, Radifocus Guidewire M Shapeable – Guidewire, and Radifocus Guidewire M Standard type – Guidewire. Medtronic plc is also found to be inclined towards acquisition, and collaboration with other organizations as integration with other organization helps in expanding the present product portfolio. For instance, in 2016, Medtronic teamed up with HeartWare International, Inc., to broaden their product portfolio, and in the same year the company acquired Smith & Nephew’s gynecology business for $350 million. Additionally, the company has a huge product portfolio and good brand identity. Prior to this, the integration of Medtronic and Covidien was in the news, in 2015. Medtronic plc. acquired Covidien for $42.9 billion. Medtronic plc is driven by globalization, therapy innovation, and economic value. In 2017, the company launched StealthStation,
Products tapping on the new opportunities in therapeutic medical guide wire market
Guide wires represent the most important class of devices. So, researchers, and manufactures are continuously focusing on developing an efficient guide wire to smoothen the surgical interventions. On considering the efficiency of guidewires, various surgical instruments are developed based on specific guidewires. For instance, Percuflex Helical Ureteral Stent, by Boston Scientific Corporation, is a 3 Fr stent based on a guidewire delivery system. Abbott has also come up with various new guide wires in the market such as HI-Torque steelcore peripheral guide wire, HI-Torque command peripheral guide wire, HI-Torque winn peripheral guide wires, .035 LOC guide wire extension, HI-Torque supra core peripheral guide wire. Guide wire introduced by Cook Medical has also attracted a great deal of attention. In 2015, Cook Medical launched and advanced medical guide wire i.e. APEX double curve guide wire. Cook Medical also includes other guide wire products such as, Lunderquist® Extra-Stiff Wire Guide, Savary-Gilliard® Wire Guide, Fixed-Core Wire Guide, and Amplatz Support Wire Guide.