Guidewires Market: Global Industry Analysis and Forecast (2021-2027) Trends, Statistics, Dynamics, Segmentation by Product, Material, Application, End-User, and Region.

Guidewires Market reached a value of US $ 2128.9 Mn. in 2020. Global Guidewires Market size is estimated to grow at a CAGR of 6.1%.

Guidewires Market Overview:

Guidewires are life-saving medical devices that are utilized in critical surgeries. Guidewires are commonly used to get access to vascular targets with higher precision and accuracy. The guidewire is a device that helps surgeons and doctors do better surgical and diagnostic procedures. It's mostly employed in cardiology, interventional radiology, and gastrointestinal procedures. The enhanced tip, stiffness, coating, and shape of the device allow a surgical professional to diagnose and treat lesions with inadequate anatomical structures. In addition, incorporating modern technology into Guidewire, such as steerability vision, can help to improve procedure outcomes. Guidewires Market To know about the Research Methodology :- Request Free Sample Report Guidewires are utilized to reach lesions in the blood artery and are coated with hydrophilic and hydrophobic chemicals to promote lubrication during vascular interventions and minimally invasive (MI) procedures. They are widely used in cardiovascular, gastrointestinal, urological, and interventional radiology operations, as these wires increase device delivery and reduce the danger of vascular damage. 2020 is considered as a base year to forecast the market from 2021 to 2027. 2020’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years' trends are considered while forecasting the market through 2027. 2020 is a year of exception and analyzed especially with the impact of lockdown by region.

Guidewires Market Dynamics:

Growing concerns of chronic diseases across the globe are driving the Guidewires Market growth. According to World Health Organization research, 15 million individuals have a stroke every year, resulting in 17.9 million fatalities in 2019, accounting for 32% of all CVD-related deaths worldwide. These figures reflect well for the guidewire market, as the prevalence of cardiovascular illnesses continues to rise, necessitating the use of sophisticated guidewire technology for faster diagnosis and more precise treatment of these conditions. Guidewires are generally utilized to perform bariatric procedures as well as to diagnose and treat a variety of neurological and cardiovascular illnesses (CVDs), such as ischemic heart disease, brain aneurysms, and nephrolithiasis. Furthermore, these devices are significant in the diagnosis of gastrointestinal problems, which will increase their demand in the healthcare industry. The growing geriatric population is fueling the growth of the guidewires market across the globe. According to the World Health Organization, the worldwide elderly population would double from 12% to 22% between 2015 and 2050, reaching more than 1600 million people. These figures show that product demand is likely to expand as a result of people's growing acceptance of technology innovations that strive to improve their lives. The prevalence of cardiovascular illnesses rises with age, which is predicted to increase the demand for surgical guidewires. According to the World Health Organization, Non-Communicable Diseases (NCD) are responsible for 70% of all fatalities each year. Furthermore, NCDs such as diabetes, cancer, mental health, and cardiovascular illnesses account for approximately 85% of deaths worldwide in middle- and low-income nations. Furthermore, NCDs are responsible for the majority of total deaths in the Asia Pacific, particularly in South-East Asia. These NCDs progress over time and have a negative impact on functional capacities. According to the WHO, mortality from NCDs is expected to increase by 15% between 2010 and 2020, resulting in 44 million deaths, of which 10.4 million are reported from South Asia alone. The minimally invasive operations are critical in mentioned facts, which is expected to boost the guidewires market during the forecast period. However, the high cost of guidewires is expected to hinder the market growth during the forecast period. Medical equipment prices are increasing as R&D and introduction expenses for sophisticated surgical instruments are growing, which are expected to raise overall healthcare expenses and have the potential to lower the adoption rates. According to the Fractional Flow Reserve versus Angiography for Multivessel Evaluation (FAME) study the average cost of percutaneous coronary intervention utilizing guidewires was around USD 14,315. The high cost of percutaneous coronary intervention surgery is expected to overall healthcare spending increased, which is expected to stifle the market's growth.

Top Companies that use Guidewire by Country:

Guidewires Market 1

Global Guidewires Market Segment Analysis:

Based on the Material, the Guidewires Market is segmented into Nitinol, Stainless Steel, and Hybrid. The Nitinol segment held the largest market share, accounting for 46% in 2020. The segment growth is attributed to its advantages such as higher flexibility and kink resistance over stainless steel material. The ability of Nitinol-based goods to resist deformations in convoluted anatomies is driving the guidewires market growth for this segment. The stainless steel segment is expected to witness significant growth at a CAGR of xx% during the forecast period. Stainless steel is a highly preferred raw material as it has antibacterial, non-magnetic, and non-staining features, along with its strong corrosion resistance. Stainless steel is a suitable choice for support, force transmission, and torque standards. Amplatz Support Wire Guide, Paragon Diagnostic Guidewire, and True Form Re-shapable Guide Wire are examples of stainless steel-based devices. Guidewires Market 2 Based on the Application, the Guidewires Market is segmented into Coronary, Peripheral, Urology, Neurovascular, Gastroenterology, and Others. The Coronary segment held the largest market share, accounting for 44.2% in 2020. The segment growth is attributed to the growing demand for minimally invasive coronary procedures. A substantial number of atherosclerosis patients are admitted to hospitals, and the prevalence of the cardiovascular disease is on the rise. According to the World Health Organization, cardiovascular disease accounted for 32.0 % of global fatalities in 2019. The introduction of new technologies is expected to fuel the segment growth during the forecast period. The availability of favorable reimbursement schemes for cardiovascular procedures is further boosting the market for guidewires. Galeo coronary guidewires (Biotronik) and Teleflex's Spectre guidewire are two new devices of coronary guidewires that have been introduced in 2019. The Neurovascular segment is expected to grow at the fastest rate at a CAGR of 6.3 % during the forecast period. The high prevalence of neurovascular diseases affecting the spinal cord and cerebral vascular systems, such as dural arteriovenous fistula, aneurysms, arteriovenous malformations, cerebral haemorrhage, cavernoma, and stroke. The presence of essential blood arteries makes treating such illnesses is difficult. The increased use of these devices is extremely difficult neuro-vascular minimally invasive surgeries, which are boosting the guidewire market growth for this segment. Guidewires Market 3

Global Guidewires Market Regional Insights:

North America region held the largest market share accounted for 39% in 2020. An increase in the number of coronary and peripheral interventions, as well as a higher prevalence of cardiovascular disorders, are driving the need for guidewire devices for treatment. A growing preference for less invasive surgeries such as coronary bypass and cardiothoracic surgery is also boosting the market growth for this region. In addition, the high presence of prominent market players is expected to boost the growth of the guidewires industry in the North America region. Asia Pacific region is expected to witness significant growth at a CAGR of 7.2% during the forecast period. The increased governmental and private sector investments improved healthcare infrastructure, and rising disposable income are driving the market growth in the region. In addition, the Availability of healthcare institutions, availability of the product, and emphasis on the utilization of modern healthcare technology are expected to fuel the guidewire market growth during the forecast period. The objective of the report is to present a comprehensive analysis of the Guidewires Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Guidewires Market dynamic, structure by analyzing the market segments and projecting the Guidewires Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Guidewires Market make the report investor’s guide.

Global Guidewires Market Scope: Inquire before buying

Global Guidewires Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $ 2128.9 Mn.
Forecast Period 2021 to 2027 CAGR: 6.1% Market Size in 2027: US $ 2396.5 Mn.
Segments Covered: by Product • Surgical • Diagnostic
by Material • Nitinol • Stainless Steel • Hybrid
by Application • Coronary • Peripheral • Urology • Neurovascular • Gastroenterology • Others
by End-User • Hospitals • Ambulatory Surgical Centres

Global Guidewires Market by Region

• North America • Europe • Asia Pacific • South America • The Middle East and Africa

Global Guidewires Market Key Players

Boston Scientific Corporation • Terumo Interventional Systems • Medtronic • Abbott • UROMED Kurt Drews KG • GaltNeedleTech • Olympus Corporation • Teleflex Incorporated • Cordis • Stryker • Johnson & Johmson • B Braun Melsungen • C. R. Bard Inc. • Codman neuro • ASAHI INTECC Inc. • Cook group

Frequently Asked Questions:

1] What segments are covered in the Guidewires Market report? Ans. The segments covered in the Guidewires Market report are based on Product, Material, Application, and End-Use. 2] Which region is expected to hold the highest share in the Guidewires Market? Ans. The North American region is expected to hold the highest share in the Guidewires Market. 3] What is the market size of the Guidewires Market by 2027? Ans. The market size of the Guidewires Market by 2027 is US $ 2396.5 Mn. 4] What is the forecast period for the Guidewires Market? Ans. The Forecast period for the Guidewires Market is 2020-2027. 5] What was the market size of the Guidewires Market in 2020? Ans. The market size of the Guidewires Market in 2020 was US $ 2128.9 Mn.
1. Global Guidewires Market Size: Research Methodology 2. Global Guidewires Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Guidewires Market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Guidewires Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-19 Impact 4. Global Guidewires Market Size Segmentation 4.1. Global Guidewires Market Size, by Product (2020-2027) • Surgical • Diagnostic 4.2. Global Guidewires Market Size, by Material (2020-2027) • Nitinol • Stainless Steel • Hybrid 4.3. Global Guidewires Market Size, by Application (2020-2027) • Coronary • Peripheral • Urology • Neurovascular • Gastroenterology • Others 4.4. Global Guidewires Market Size, by End-User (2020-2027) • Hospitals • Ambulatory Surgical Centres 5. North America Guidewires Market (2020-2027) 5.1. Global Guidewires Market Size, by Product (2020-2027) • Surgical • Diagnostic 5.2. Global Guidewires Market Size, by Material(2020-2027) • Nitinol • Stainless Steel • Hybrid 5.3. Global Guidewires Market Size, by Application (2020-2027) • Coronary • Peripheral • Urology • Neurovascular • Gastroenterology • Others 5.4. Global Guidewires Market Size, by End-User (2020-2027) • Hospitals • Ambulatory Surgical Centres 5.5. North America Guidewires Market, by Country (2020-2027) • United States • Canada • Mexico 6. European Guidewires Market (2020-2027) 6.1. European Guidewires Market, by Product (2020-2027) 6.2. European Guidewires Market, by Material (2020-2027) 6.3. European Guidewires Market, by Application (2020-2027) 6.4. European Guidewires Market, by End-User (2020-2027) 6.5. European Guidewires Market, by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Guidewires Market (2020-2027) 7.1. Asia Pacific Guidewires Market, by Product (2020-2027) 7.2. Asia Pacific Guidewires Market, by Material (2020-2027) 7.3. Asia Pacific Guidewires Market, by Application (2020-2027) 7.4. Asia Pacific Guidewires Market, by End-User (2020-2027) 7.5. Asia Pacific Guidewires Market, by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. The Middle East and Africa Guidewires Market (2020-2027) 8.1. The Middle East and Africa Guidewires Market, by Product (2020-2027) 8.2. The Middle East and Africa Guidewires Market, by Material (2020-2027) 8.3. The Middle East and Africa Guidewires Market, by Application (2020-2027) 8.4. The Middle East and Africa Guidewires Market, by End-User (2020-2027) 8.5. The Middle East and Africa Guidewires Market, by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Guidewires Market (2020-2027) 9.1. Latin America Guidewires Market, by Product (2020-2027) 9.2. Latin America Guidewires Market, by Material (2020-2027) 9.3. Latin America Guidewires Market, by Application (2020-2027) 9.4. Latin America Guidewires Market, by End-User (2020-2027) 9.5. Latin America Guidewires Market, by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. Boston Scientific Corporation 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Terumo Interventional Systems 10.3. Medtronic 10.4. Abbott 10.5. UROMED Kurt Drews KG 10.6. GaltNeedleTech 10.7. Olympus Corporation 10.8. Teleflex Incorporated 10.9. Cordis 10.10. Stryker 10.11. Johnson & Johmson 10.12. B Braun Melsungen 10.13. C. R. Bard Inc. 10.14. Codman neuro 10.15. ASAHI INTECC Inc. 10.16. Cook group

About This Report

Report ID22402
Category Medical Devices
Published DateJan 2019
Updated DateNov 2021
Contact Us