Guidewires Market Size, Share, Growth, Global Trends, Industry Analysis and Forecast to 2027Price: 3200/- USD | Published Date: October 13, 2020 |
The global guidewires market size was accounted at around USD 2 billion in 2019 and projected to grow at the CAGR of 5.73 % market during 2020-2027. Growing demand for minimally invasive surgical procedures for targeted treatments is expected to drive demand for guidewires in the global markets. Minimally invasive procedures are rapidly taking over conventional open surgeries due to offered benefits such as quick procedural time, less risk of infections, less blood loss, rapid recovery time, and cost-efficiency. Due to these benefits, minimally invasive procedures are being increasingly adopted for treating chronic conditions, particularly in geriatric patient group.
Increasing demand for minimally invasive surgeries and the high prevalence of chronic diseases in both developed and developing nations are the key growth factors in the guidewires market. In 2019, coronary guidewires held the largest market in the guidewires product segment chiefly due to the increasing number of cardiac complications and the growing demand for angioplasty procedures. Nitinol held the largest market in the material segment as it is the most significant material type that is being increasingly used for manufacturing stents, ablation devices, atrial septal occlusion systems, heart port access devices, and other surgical equipment. Its physical properties allow the guidewires with the ability to adopt shape as per the temperature required and thus, offer better navigation and reach.
The guidewires market is currently dominated by North America due to the increasing number of patients suffering from a critical illness, increasing demand for minimally invasive surgeries, and supportive reimbursement policies. On the other hand, Asia Pacific is anticipated to be the fastest-growing market because of deep market penetration due to the presence of multiple players involved in guidewires manufacture, increasing prevalence of chronic diseases, medical tourism, and developing healthcare infrastructure.
Market Segment Insights:
The guidewires market is majorly segmented into the product (coronary, neurovascular, urological, and peripheral guidewires), coronary guidewires held the largest market in the product segment due to growth factors such as high usage rates of coronary guidewires in surgical procedures and favorable reimbursement for the products in the developed markets, along with steady prices of the available products. The material segment consists of (stainless steel, nitinol, and hybrid). Nitinol held the largest share in the material segment primarily due to their superelasticity and shape memory properties make nitinol an ideal material for navigation tools and miniature implants.
Global Guidewires Market Segmentation:
By Product, 2018–2027 ($ Million)
By Material, 2018–2027 ($ Million)
- Stainless steel
By Geography, 2018-2027 ($ Million)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
North America, Latin America, Europe, Middle East and Africa, and Asia Pacific, markets together form the major regional markets for guidewires. These regional markets are further sub-segmented into country-specific markets on the basis of demand and market growth of guidewires. Among the considered regional markets, North America currently dominates the global guidewires market, with the United States being the largest county-level market due to an increase in the geriatric pool, high prevalence of coronary and peripheral occlusions, and supportive reimbursement policies. On the other hand, Asia Pacific is anticipated to be the fastest-growing market for guidewires due to the huge population base suffering from occlusions, rising public awareness, and high disposable income.
Market Competition Assessment:
Key players in the global guidewires market are Abbott Laboratories, Angiodynamics, Asahi Intecc. Co., Ltd., B. Braun Cardiovascular, Boston Scientific Corporation, Codman Neurovascular, Cordis Corp., Cook Medical, Johnson and Johnson, Medtronic, Inc., St. Jude Medical, Stryker Corporation, Terumo Corporation, and other notable players.
List of Key Companies:
- Abbott Laboratories
- Asahi Intecc Co., Ltd.
- Braun Cardiovascular
- Boston Scientific Corporation
- Codman Neurovascular
- Cordis Corp.
- Cook Medical
- Johnson & Johnson
- Medtronic, Inc.
- Jude Medical
- Stryker Corporation
- Terumo Corporation
Key Questions Answered by Guidewires Market Report
- Global guidewires market forecasts from 2020-2027
- Regional guidewires market forecasts from 2020-2027 covering Asia-Pacific, North America, Europe, Middle East and Africa, and Latin America
- Country-level forecasts from 2020-2027 covering 15 major countries from the aforementioned regions
- Guidewires submarket forecasts from 2020-2027 covering the market by product, by material, and geography
- Various industry models such as SWOT analysis, Pestle Analysis, Porter’s Five Force model, Value Chain Analysis pertaining to guidewires market
- Analysis of the key factors driving and restraining the growth of the global, regional, and country-level guidewires markets from 2020-2027
- Competitive Landscape and market positioning of top 10 players operating in the guidewires market
Request a full PDF report sample for report presentation @ https://www.researchcorridor.com/request-sample/?id=6226
Table of Content:
Chapter 1 Preface
1.1 Report Description
1.2 Market Segmentation
1.3 Research Methodology
Chapter 2 Executive Summary
2.1 Global Guidewires Market, by Product Type, 2019 ($ Million)
2.2 Global Guidewires Market, by Material, 2019 ($ Million)
2.3 Global Guidewires Market Share, by Geography, 2019 (Value %)
Chapter 3 Global Guidewires: Market Dynamics and Outlook
3.1 Introduction, Facts and Figures
3.5 Major Commercial Events
3.6 Average Pricing Analysis
3.7 Attractive Investment Proposition
3.8 Competitive Analysis: Global Guidewires Market, by Key Market Players
Chapter 4 Global Guidewires Market, by Product Type, 2018-2027 ($ Million)
Chapter 5 Global Guidewires Market, by Material, 2018-2027 ($ Million)
5.2 Stainless Steel
Chapter 6 Global Guidewires Market, by Geography, 2018-2027 ($ Million)
6.1. North America
6.2.3. Rest of Europe
6.3. Asia Pacific
6.3.3. Rest of Asia Pacific
6.4. Latin America
6.4.3. Rest of Latin America
6.5. Middle East and Africa
6.5.2. Rest of Middle East and Africa
Chapter 7 Company Profiles
7.1. Abbott Laboratories
7.3. Asahi Intecc Co., Ltd.
7.4. B. Braun Cardiovascular
7.5. Boston Scientific Corporation
7.6. Codman Neurovascular
7.7. Cordis Corp.
7.8. Cook Medical
7.9. Johnson & Johnson
7.10. Medtronic, Inc.
7.11. St. Jude Medical
7.12. Stryker Corporation
7.13. Terumo Corporation
$4800/- Multi User License $6400/- Corporate License
- Markets in over 150 countries analyzed granularly
- 35% of our total client base has an annual subscription membership
- 100,000+ data points in our comprehensive database
- 24x5 availability - we are always there when you need us
- Our expert team will assist you with all research need and customization
- Our expert research analysts will resolve your every query before and after purchasing the report
- We focus on the accuracy and quality of the report
- Our analyst will provide deep insights into the report
Contact Person: Vijendra Singh