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Guidewires Market is valued at USD 621.5 Million in 2018 and expected to reach USD 854.3 Million by 2025 with the CAGR of 4.65% over the forecast period.
Increasing prevalence of chronic total occlusion (CTO), surge in clinical practices, new advances in interventional radiology and rise in coronary angiographic surgeries are some of the major factors driving the growth.
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Scope of the Global Guidewires Market Report:
A guidewire is a long and flexible spring that is used as a guide for placement of a larger device or prosthesis such as a catheter or intramedullary pin. This device is used to enter tight spaces such as obstructed valves, within the body and to help in inserting, positioning, and moving a catheter. Guidewires come in various sizes, length, stiffness and composition. Guidewires are generally single use devices and important for intravascular imaging, placed close to a large diameter catheter, because they allow interventional and flushing catheters to pass over them. Guidewire provides great combination of durability, maneuverability, crossability and support to reach and cross the target lesion. They are available in two basic configurations such as solid steel or nitinol core wires and solid core wire wrapped in a smaller wire coil or braid.
Key players of the guidewires market are,
Abbott, Boston Scientific Corporation, Medtronic, Terumo Medical Corporation, Cook, ENDO-FLEX GmbH, Cardinal Health, BD, ASAHI INTECC CO., LTD, Merit Medical Systems, BTG International Ltd, UroMed, Teleflex Incorporated, Others.
Global Guidewires market is segmented on the basis of type, core material, and application and by region & country level. Based on type, the market is segmented into hydrophilic guidewire, hydrophobic guidewire, surgical guidewire, diagnostic guidewire and others. Based on core material, the market is segmented into nitinol, stainless steel, hybrid and others. Furthermore, on the basis of application, the market is segmented into cardiology, urology, neurology, oncology, gastroenterology and others.
The regions covered in this guidewires market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of guidewires market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Guidewires Market Dynamics-
Increasing prevalence of chronic total occlusion (CTO), surge in clinical practices, new advances in interventional radiology and rise in coronary angiographic surgeries are some of the major factors expected to drive the growth of guidewires market within the forecast period. For example; cardiovascular disease (CVD) remains the leading cause of death in the United States, represented for about 840,768 deaths in 2016. In addition, cardiovascular disease is the leading cause of death globally, accounted for over 17.6 million deaths per year in 2016 and this number is expected to grow to more than 23.6 million by the end of 2030. In addition, increasing customers’ inclination towards the minimally invasive techniques is also leading to an increased demand for guidewires. However, most operators do not have a deep knowledge of this guidewires and it needs certifications of medical device authority which may act as a barrier for the growth of this market. In spite of that, with the emergence of novel techniques coupled with new treatment techniques can provide the great opportunities for this market in near future.
Global Guidewires Market Segmentation:–
By Type: Hydrophilic Guidewire, Hydrophobic Guidewire, Surgical Guidewire, Diagnostic Guidewire, Others
By Core Material: Nitinol, Stainless Steel, Hybrid, Others
By Applications: Cardiology, Urology, Neurology, Oncology, Gastroenterology, Others
North America is Expected to Dominate the Global Guidewires Market
North America is expected to dominate the global guidewires market due to the well established healthcare infrastructure, rising incidences of coronary heart disease and increasing healthcare expenditure in this region. For example; heart Disease including coronary heart disease and hypertension will remain the No. 1 cause of death in the US. In 2016, coronary heart disease accounted for about 13% of deaths in the US caused approximately 363,452 deaths. Asia pacific is likely to grow at the highest CAGR owing to the favorable government’s support to lessen the overall burden of cardiovascular diseases by adopting non invasive techniques, growing number of medical procedures and rapid economic growth is also accountable in better accessibility to interventional treatment.
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