The guidewire is medical devices used in surgical procedures such as surgical cardiology, surgical radiology, gastroenterology, vascular surgery, and much more. They are made of stainless-steel structures, which are used to direct the placement of the pipe.
Therapeutic medical guidewire is used for treating diseases such as neurovascular, peripheral artery, urological and cardiovascular. The guidewire is used to guide larger catheters to increase easier delivery of the treatment site. The guidewire has two types wrapped guide wire and solid guidewire and can be J-shaped, angled or straight depending on the type of surgery as well as type of disease.
Impact of COVID-19 on Therapeutic Medical Guidewire Market
There has been an increase in the demand for medical supplies to take care of the infected population. Respiratory support devices such as atomizers, life-support machines, oxygen generators, and monitors 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. There is an increase in the need for medical supplies, both from healthcare professionals and the civil population for precautionary measures, owing to the rise in the number of COVID-19 cases worldwide.
Manufacturers of these products have a chance to capitalize increased demand for medical supplies to ensure an adequate and continuous supply of personal protective equipment in the market. Therefore, COVID 19 is expected to have a significant impact on the therapeutic medical guidewire market.
COVID-19 has a huge impact on the therapeutic medical guidewire market because of government restrictions on the manufacturing as well as the huge excise duty that is involved in the transportation of the guidewire.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
- The therapeutic medical guidewire market is growing with the increase in the number of diseases and increase in the number of minimally invasive surgical procedures. The growing use of guidewire for surgeries to access or to navigate the vessels to reach a vessel segment for easier delivery of the treatment.
- The growing demand for minimally invasive surgeries as the number of diseases increases, the rising technology in guidewire in terms of materials used, the shape of the wire as well as the increasing number of applications of the guidewire are factors that drive the market. Also, the continuous increase of new product launches, the high healthcare expenditure in major regions, government initiatives to control the infections associated with the healthcare sector, medical reimbursements in developing countries, as well as the increase in the research and development for new and innovative guidewire are factors that give rise to the therapeutic medical guidewire market.
- The factors that hinder the growth of the market include the high cost associated with the guidewire as it is required skilled surgeons to perform the surgery as well as the high spending cuts & excise duties make the guidewire surgery expensive, lack of skilled surgeons to conduct minimally invasive surgeries as it requires skilled surgeons to operate and the problems associated with the procedure of guidewires such as infection, improper catheter position, and arterial punctures.
- North America has the largest share in the market because of the rising availability of reimbursements for guidewires, increasing patient preference for minimally invasive surgical procedures, and the strong market presence of key players. Europe and Asia-Pacific are expected to grow at a lower pace because of the rising presence of poor and slow developing countries in this region.
Terumo introduced a new AZUR Vascular Plug and PG Pro Peripheral Microcatheter Embolization System on July 14, 2021, which is a next-generation technology and can treat large and more difficult vessels through smaller delivery options.
Terumo Acquired Quirem Medical to enhance its interventional Oncology field on July 15, 2020. This acquisition will develop next-generation microspheres for Selective Internal Radiation Therapy (SIRT) for the treatment of liver tumors.
Key Benefits of the Report
- This study presents the analytical depiction of the therapeutic medical guidewire market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the therapeutic medical guidewire market share.
- The current market is quantitatively analyzed to highlight the Therapeutic medical guidewire Market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Therapeutic medical guidewire Market analysis based on competitive intensity and how the competition will take shape in coming years
Questions Answered in the Therapeutic Medical Guidewire Report
- Who are the leading players active in the therapeutic medical guidewire market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What is "therapeutic medical guidewire"?
- What is the "therapeutic medical guidewire” market prediction in the future?
Therapeutic Medical Guidewire Market Report Highlights
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Key Market Players
Stryker Corporation., Infiniti Medical.,, SP Medical A/S., BIOTRONIK SE & Co KG.,, Cardinal Health, Inc.,, Boston Scientific Corporation.,, B. Braun Melsungen AG, Terumo Medical Corporation, Amneal Pharmaceuticals, Inc., Teleflex Incorporated.,, AngioDynamics, Inc.,