Guidewires Market – Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017–2025

coherentmarketinsights

Guidewires are flexible and thin tubes that guide a catheter for placement in the diseased organ. Guidewires are used to open the target vessels, cross lesions and provide definitive interventional therapy to patients. Guidewires are the crucial components of vascular intervention with indispensable uses in the field of minimally invasive surgeries due to its capacity of rendering precise and effective results. Guidewires are of several types as various clinical presentations need different device features. An appropriate guidewire for a particular condition can improve device delivery, enhance crossing success, restrict expenses and limit the risk of vascular injury. Guidewires are mainly manufactured from stainless steel with an elastic coil tip to prevent blood vessel from damage. The guidewires are reusable products in nature with low cost stainless steel mainly used as a raw material by manufacturers. A robust range of wire configurations and tip shapes makes it possible for healthcare professionals in choosing the right tool for surgical procedures. Biomechanical properties of the guidewires in the medical device industry contributes to its rapid growth.

Extensive use of guidewires in surgical interventions is expected to fuel the growth of guidewires market

According to the Journal of American College of Cardiology, an estimated 422.7 million prevalent cases of cardiovascular diseases were recorded globally in 2015, with 8.9 million deaths observed due to Ischemic Heart Disease (IHD). The higher occurrence of cardiovascular diseases is attributed to the shift in lifestyle habits including dietary irregularities and smoking which results in growing incidences of obesity, thus resulting in the global guidewires market demand. Also, the demand for guidewires is increasing by the rise in patient awareness about the advantages of minimally invasive procedures like decreased traumatic surgical experience, faster recovery, fewer post-surgery complications, reduced incision wounds and higher patient satisfaction. Additionally, growing acceptance of guidewires among medical practitioners, rising research and development investments and surging number of market entrants are the factors propelling guidewires market. Growing use of guidewires for diagnostic and interventional purposes of cardiological diseases is expected to stimulate guidewires market over the forecast period.

Coronary guidewires are largely used guidewires owing to the high volumes of minimally invasive coronary procedures

The global guidewires market is segmented on the basis of product type, application, end user and geography.

On the basis of product type, the global guidewires market is segmented into:

  • Stainless Steel Guidewires

  • Nitinol Guidewires

  • Hybrid Guidewires

On the basis of application, the global guidewires market is segmented into

  • Interventional cardiology

  • Infusion therapy

  • Vascular access

  • Interventional neuroradiology

  • Endourology

  • Gastroenterology

On the basis of end user, the global guidewires market is segmented into:

  • Hospitals

  • Ambulatory Surgical Centers

  • Others

The rise of peripheral vascular diseases fuels the guidewires market in Asia Pacific

Regional segmentation of the global guidewires market by Coherent Market Insights comprises North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa. According to Centre for Disease Control and Prevention in 2016, approximately 8.5 million people in the U.S. have peripheral artery disease and is expected to reach 19 million by 2050. Thus, North America holds a dominant position in the global guidewires market. The major driving factors for the growth of the guidewires market in North America, include rise in lifestyle diseases such as heart attack, strokes, myocardial infarction, ischemic stroke, atherosclerosis and neuro vascular diseases. Asia Pacific market is developing at a rapid rate owing to economic development, improving healthcare amenities and government initiatives in the emerging economies. Also, a large group of patients suffering from peripheral vascular diseases leads to an increase in the endovascular procedures in densely populated countries of India and China.

Rapid technological advancements like navigation with a magnetic guidewire is expected to created immense growth opportunities for industry participants

Key players operating the guidewires market are Boston Scientific Corporation, ASAHI INTECC Inc., Cordis Corporation and C.R. Bard. The launch of Glidewire product by Terumo is rapidly gaining popularity in the global market owing to its higher efficiency in vascular access and coronary intervention procedures.  Other leading vendors have adopted technological innovation and advancements for manufacturing novel guidewires in terms of flexibility, construction and tip retention are Terumo Corporation, Medtronic Inc., Abbott Laboratories, Covidienplc, Braun Melsungen and Cook Medical.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity

Contact Us:

Mr.Shah

Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154

Tel: +1–206–701–6702

E-mail:sales@coherentmarketinsights.com

Pranali is a BCA in computer science by education and a technology enthusiast by passion. She has a stint of experience in Blogging and SEO and loves to write.

Guidewires Market is Expected to grow at a Significant Pace till 2024

Hexa Research

Guidewires are flexible tubes used to guide a catheter to a diseased artery in the heart. They are used for the diagnosis of cardiovascular diseases. It will face huge demand due to the recent trend of minimally invasive procedures. Benefits of these procedures such as fast recovery, reduced hospital stay, and a painless surgical experience will favor the Guidewires Market.

The growing geriatric population and presence of prevalent coronary diseases are factors that can result in increased demand. The guidewires market is projected to grow at a rapid rate from 2016 to 2024 (forecast phase). Reservations by reimbursement companies will hamper the market growth.

Coronary, peripheral, neurovascular, and urology guidewires are the 4 products currently offered in the market. All these products will be of prominent use in the medical sector in the years ahead. In 2013, Terumo Corporation dominated the peripheral guidewires market on account of its expansive product portfolio. Additionally, prominent players of neurovascular guidewires include ASAHI INTECC and Codman Neurovascular.

Regions include North America, Latin America, Asia Pacific, Europe, and Middle East & Africa (MEA). North America will lead the guidewires market over the next eight years. This can be attributed to the advanced health infrastructure and cardiovascular and neurovascular diseases in the region. Presence of large manufacturers and their respective specialty products will also favor the regional market growth. Asia Pacific will be the fastest growing market, owing its growth to the economies of China and India.

Research and development play a key role pertaining to the growth of the global market. The companies involved have tried to create cost-effective products to prevent any product recalls. Tip shape retention and flexibility are the prime requirements of health practitioners while handling guidewires. Well-known players in the market are ASAHI INTECC, Terumo Corporation, Boston Scientific Corporation, and Abbott Laboratories.

New product launches and collaborations with healthcare practitioners are a common strategy followed by these players. For instance, Boston Scientific has launched Safari preshaped TAVI guidewires, Fathom Steerable Guidewires, choice Floppy guidewires, Journey Guidewire, and Kinetix Guidewires. The Fathom series has advanced micro fabrication technology which can be used to treat tortuous vasculature. Safari series can retain its shape and comes in three sizes.

Browse Related Category Market Reports @ https://www.hexaresearch.com/research-category/medical-devices-industry

Sara James is Market Research Analyst, Conducting in-depth data analyses using traditional and advanced methods Build a detailed database for the understanding of the target market and industry.