The global Guidewires Market was worth US$ 3.7 Billion in the year 2022 and is expected to reach US$ 5.9 Billion by the year 2030 at a CAGR of 6.1% between 2022 and 2030.
With more of the desk jobs all over, the end-consumers are at a higher risk of diabetes, obesity, and cardiovascular diseases as they end up with an unnecessary intake of sugars and saturated fats. This calls for surgeries; wherein the minimally-invasive version is preferred over something like open heart surgery.
Guidewires are used when placement of stents, catheters, and the other medical devices comes into picture. Growing incidences of catheter-related infections that too, acquired in hospitals are amongst the factors driving the guidewires market and the scenario is expected to remain unchanged even going forward.
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Neurovascular diseases like dural arteriovenous fistula, arteriovenous malformations, aneurysms, cavernoma, cerebral hemorrhage, and stroke are asking for guidewires on the part of treatment. Hydrophilic coating is drawing maximum revenue and as far as raw material is concerned, stainless steel witness’s maximum demand. However, nitinol is expected to overpower stainless steel in the years to come. This could be attributed to better flexibility coupled with better kink resistance.
At the same time, limitations like blood clots on guidewire, catheter tip flaring, and abrasion of vessels, and risk of unraveling could restrain the guidewires market going forward.
Future Market Insights has walked through these facts with insights in its latest market study entitled ‘Guidewires Market’. It has its set of analysts and consultants to execute through macros and micros.
“With quicker recovery time, smaller incisions, and lessened pain, the global guidewires market is expected to grow on an astounding note in the forecast period”, says an analyst from Future Market Insights.
Key Takeaways from Guidewires Market
- North America holds the largest market share with the US witnessing a growing inclination toward minimally invasive surgical procedures.
- Europe holds the second-largest market share with Germany ruling the roost. This could be credited to the country being subject to an unprecedented rise in the number of chronic conditions coupled with sedentary lifestyle.
- The Asia-Pacific is expected to grow at the fastest rate in the guidewires market going forward with China spending excessively on modern-day medical tools and devices for improving surgical outcomes and enhancing patients’ lives.
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Competitive Guidewires
- Teleflex, in January 2021, did expand value of ErgoPack Complete improvements to the vascular access products that are critical to function.
- Boston Scientific Corporation, in April 2021, did announce launching Kinetix Guidewire for utilization in the PCI (percutaneous coronary intervention) procedures.
- Cardiovascular Systems Inc., in October 2019, received approval from the US FDA for ViperWire Advance Coronary Guide Wire. This guidewire is abreast with Diamondback 360 orbital atherectomy system; thereby facilitating outcomes of treatment and navigation.
What does the Report Cover?
- The research study is based on interventional guidewires (hydrophilic guidewires and hydrophobic guidewires) and diagnostic guidewires (hydrophilic guidewires and hydrophobic guidewires)), application (coronary guidewires, peripheral guidewires, urology guidewires, radiology guidewires, neurovascular guidewires, gastroenterology guidewires, and likewise), material type (nitinol guidewires, PTFE guidewires, stainless steel guidewires, and hybrid guidewires), tip shape (J tip, angled tip, and straight tip), and end-user (hospitals, Ambulatory Surgical Centers, cardiac catheterization laboratories, and specialty clinics).
- With growing incidences of chronic ailments like cardiovascular diseases, neurovascular diseases, and urological diseases in the wake of exploding geriatric population, the global guidewires market is bound to grow stupendously in the forecast period.
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Key Companies Profiled:
- Boston Scientific Corporation
- Terumo Corporation
- Cardinal Health Inc.
- Cook Medical Inc.
- Johnson & Johnson
- Medtronic PLC
- Teleflex Corporation
- Stryker Corporation
- B. Braun Melsungen AG
- Abbott Laboratories
- Olympus Corporation
- Merit Medical Inc.
- Becton, Dickinson and Company
Key Market Segments Covered In Guidewires Industry Research
By Product:
- Interventional Guidewires
- Hydrophilic Guidewires
- Hydrophobic Guidewires
- Diagnostic Guidewires
- Hydrophilic Guidewires
- Hydrophobic Guidewires
By Application:
- Coronary Guidewires
- Peripheral Guidewires
- Urology Guidewires
- Radiology Guidewires
- Neurovascular Guidewires
- Gastroenterology Guidewires
- Others
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By Material Type:
- Nitinol Guidewires
- PTFE Guidewires
- Stainless Steel Guidewires
- Hybrid Guidewires
By Tip Shape:
- J Tip
- Angled Tip
- Straight Tip
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Cardiac Catheterization Laboratories
- Specialty Clinics
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 09-years.
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