Guidewires market is expected to witness growth in upcoming years due to factors such as rise in incidence of target diseases, continuous launch of products from manufacturing industries and favorable reimbursement policies in developed countries.
Guidewires technology is used in accessing the vascular targets with more accuracy and precision. Guidewire technology has enhanced the quality of diagnostics and surgical procedures. It has its usage in cardiovascular, gastrointestinal and interventional radiology applications. Characteristics of guidewires such as advanced tip, stiffness, shape and coatings help the surgical specialists to diagnose and treat the lesions in complex anatomical structure. Also, steerability and superior vision has improved the outcome for the guidewire procedure. Guidewire is a flexible, thin tube which guides the catheter in affected artery for corrected placement. Guidewires are manufactured mostly from steel with elastic coil tip to avoid damage to the blood vessels.
COVID-19 scenario analysis:
To take care of infected population the demand for medical supplies is increasing. Respiratory support devices such as atomizer, life-support machine, oxygen generator, and monitor are among the majorly used medical devices in primary clinical treatment. Moreover, COVID-19 has led to a huge surge in demand for medical supplies such as personal protective equipment including masks, gloves, and protective eyeglasses. With rise in number of COVID-19 cases worldwide, the need for medical supplies keeps on rising among, both from healthcare professionals and civil population for precautionary measures. Manufacturers of these products have a chance to capitalize this increased demand of medical supplies to ensure adequate and continuous supply of personal protective equipment in the market. Considering these factors, COVID -19 is expected to have significant impact on Guidewires Market.
Top Impacting factors:
- Factors such as increase in preference for minimally invasive surgeries due to its advantages like smaller incisions, reduced pain and fast recovery time is expected to boost the market growth for guidewires.
- Technological advancements made in the guidewires and increase in geriatric population across the world has increased incidence for chronic diseases such as cardiovascular diseases, neurovascular disorders, and urological disorders, which are driving the growth for the guidewires market.
- Rise in number of lifestyle disorders such as obesity and diabetes, in developing countries is driving the growth for the guidewires market.
- Favorable reimbursement policies in developed countries and growth in healthcare expenditure is expected to boost the growth for the guidewires market.
- However, factors such as high cost associated with guidewires, lack of skilled healthcare professionals in developing countries, risk associated with usage of guidewires and preference for drugs over devices are the factors expected to hamper the growth of guidewires market during the forecast period.
New Product Launch / News:
- In October 2019, Cardiovascular Systems Inc. announced the approval of the U.S. FDA to pre-market their product Viper Wire - Advance Coronary Guide Wire. This new product launch helped the company to expand its product offerings.
- In May 2019, Medtronic launched Telescope Guide Extension Catheter for providing additional backup support as well as access to distal lesions. This telescopic guide is a combination of solid pushwire with a hydrophilic-coated distal segment.
- In January 2018, Microbot Medical Inc., a medical device company specializing in micro-robotic medical technologies, acquired a patent-protected technology from CardioSert Ltd., a medical device company. CardioSert’s technology includes guidewire delivery system.
Key benefits of the report:
- This study presents the analytical depiction of the Guidewires Market along with the current trends and future estimations to determine the investments.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the guidewires market share.
- The current market is quantitatively analyzed to highlight the Market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the guidewires market.
- The report provides a detailed Guidewires Market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Guidewires Market Report:
- What are the leading market players active in Guidewires Market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the Guidewires Market?
- What are the projections for the future that would help in taking further strategic steps?
- What Segments and region will drive the Guidewires Market growth & why?
Key Market Segments
- By Material
- Nitinol Guidewires
- Stainless Steel Guidewires
- Hybrid Guidewires
- By Product
- Surgical Guidewires
- Hydrophilic Surgical Guidewires
- Hydrophobic Surgical Guidewires
- Diagnostic Guidewires
- Hydrophilic Diagnostic Guidewires
- Hydrophobic Diagnostic Guidewires
- By Application
- Cardiology Applications
- Vascular Applications
- Neurology Applications
- Urology Applications
- Gastroenterology Applications
- Oncology Applications
- Otolaryngology Applications
- By End Users
- Hospitals, Diagnostic Centers, and Surgical Centers
- Ambulatory Care Centers (ACC)
- Research Laboratories & Academic Institutes
- By Region
- North America
- Europe
- Germany
- France
- UK
- Spain
- Italy
- rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- rest of LAMEA
Key Market Players
- Angiodynamics
- C.R. Bard Inc.
- Abbott Laboratories
- Cardinal Health
- Terumo Corporation
- Cook Group
- B. Braun Melsungen AG
- Boston Scientific Corporation
- Medtronic
- Teleflex Incorporated
- Johnson & Johnson
- Stryker Corporation
- Olympus Corporation
