Guidewires Market Overview

According to a new report by IMIR Market Research on Global Guidewires Market Size was valued at USD 1.6 Billion in 2022. The Guidewires market industry is projected to grow from USD 1.54 Billion in 2023 to USD 1.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.85% during the forecast period (2023 - 2032).

Minimally invasive surgical procedures are becoming more and more popular as a result of advantages like smaller incisions, quicker healing, and reduced pain, as well as technological advancements and an increase in the number of elderly people who are susceptible to a number of chronic diseases like cardiovascular diseases, urological diseases, and neurovascular disorders, are the key market drivers enhancing the market growth.

The Guidewires market research report comprises a thorough examination of the current and future scenario of this industry vertical. The research highlights major trends and opportunities, as well as challenges, for various segments and sub-segments, while broadening the company horizon. The study report also includes extensive information based on past and present patterns across several industry verticals to help find various expansion prospects. Throughout the forecast period, several estimations regarding market share, market size, and industry growth rate are presented. The research includes information on competitive analysis as well as consumption habits and pricing strategies depending on the Guidewires market.

Guidewires Market Trends

Increasing Demand for Minimally Invasive Surgeries (MIS) is driving the market growth

The popularity of minimally invasive surgery (MIS) is rising. These techniques lessen patient trauma and speed healing compared to invasive procedures like open heart surgery. Researchers' data that demonstrate how quickly open/invasive surgeries are being replaced with minimally invasive ones have been published by manufacturers (Ethicon Endo-Surgery, Inc.).

Unhealthy and evolving lifestyle patterns, such as consuming salt, saturated fats, and sweets; not exercising; abusing tobacco and alcohol; and not exercising, have increased the risk of developing chronic illnesses like obesity, cardiovascular disease, and metabolic disorders. The prevalence of cardiovascular, neurological, and urological problems is rising in part as a result of increasing rates of obesity, dietary aberrations, and smoking.

According to the WHO's 2018 estimate, 17.7 million people die each year as a result of cardiovascular diseases. Because of an increase in bad lifestyle choices like obesity and dietary aberrations, smoking, and other factors, the prevalence of cardiovascular disease is rising globally. The market is also expanding as a result of the steadily rising number of people suffering from congenital cardiac disease.

Guidewires are inserted to implant catheters, stents, and other medical devices. The growing number of catheter-associated infections that occur in hospitals is one issue that is projected to have an impact on catheter use. The growth of bacterial biofilm, especially in the case of indwelling catheters, is a factor in the development of diseases such catheter-associated urinary tract infections (CAUTI) and intravascular catheter-related infections.

It is projected that decreasing catheter use will have an impact on the market for guidewires as a result of growing public awareness of catheter-associated infections and their negative consequences on patients' quality of life. With the introduction of technological advancements targeted at limiting catheter-associated infections and FDA publications aimed at increasing knowledge about the proper use of catheters, it is projected that the market dynamics would move in favor of the guidewires market. Thus, driving the Guidewires market revenue.

Key Companies in the Guidewires market include

• Olympus Corporation
• Braun Melsungen AG
• Abbott
• Asahi Intecc, Co Ltd
• Medtronic
• Boston Scientific Corporation
• Terumo Corporation
• Stryker Corporation
• Cook Group
• AngioDynamicis Inc
• Cardinal Health

Guidewires Industry Developments

In April 2021: Boston Scientific Corporation has introduced the new KinetixTM Guidewire for percutaneous coronary intervention (PCI) treatments.

In January 2021: The value of Teleflex's ErgoPack® Complete upgrades to essential vascular access devices has been increased.

Guidewires Market Segmentation

Guidewires Product Outlook

• Coronary
• Peripheral
• Urology
• Neurovascular

Guidewires Coating Outlook

• Coated
• Non Coated

Guidewires Raw Materials Outlook

• Nitinol
• Stainless Steel
• Others

Guidewires Market Segment Insights

Guidewires Product Insights

The global Guidewires market segmentation, based on Product includes coronary, peripheral, urology, and neurovascular. Due to the increased demand for minimally invasive coronary operations, the coronary segment had the biggest revenue share at 44.8%. Hospital admissions of patients with atherosclerosis are significant, and the prevalence of cardiovascular disease is rising, both of which favor the segment's growth. According to the Heart Disease and Stroke Statistics 2018 study, about 92 million adult Americans had a cardiovascular disease in 2017.

Guidewires Coating Insights

The global Guidewires market segmentation, based on Coating, includes coated and non-coated. Due to strong demand, coated guidewire accounted for the majority of income. These materials reduce friction and maintain tactile sensitivity while facilitating simple access to blood vessels. There are coatings that are both hydrophilic and hydrophobic on the market. On the market are additional uncoated materials that are applied normally. However, the use of uncoated guidewires is rapidly declining as a result of the advantages that coated guidewires offer.

Guidewires Raw Materials Insights

The global Guidewires market segmentation, based on Raw Materials, includes nitinol, stainless steel, and others. The majority of the revenue share in terms of raw materials was made up of stainless steel. Due to its qualities, including strong corrosion resistance combined with antibacterial, non-magnetic, and non-staining features, stainless steel is a highly favored raw material. Strong support, push force transfer, and torque standards are provided by stainless steel. Paragon Diagnostic Guidewire (Integer Holdings Corporation), Amplatz Support Wire Guide (Cook), and True Form Reshapable Guide Wire (Merit Medical Systems) are a few examples of goods made of stainless steel.

Guidewires Regional Insights

Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. North America had the biggest market share in terms of sales in 2022 (45.80%). The primary causes of this are the increasing prevalence of cardiovascular diseases and the rise in coronary and peripheral treatments. One of the primary factors driving up demand locally is the rise in popularity of minimally invasive procedures like cardiothoracic and coronary bypass surgery. Existence of market leaders like Terumo Medical Corporation, Boston Scientific Corporation, Abbott, Cardinal Health, AngioDynamics, and B. Braun Melsungen AG is another indication of the market's existing great potential. Further, In the North American area, the U.S. Guidewires market had the biggest market share, while the Canada Guidewires market had the quickest rate of expansion.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

European surgeons are well respected throughout the world for their expertise in minimally invasive operations. France has constructed training facilities for these activities. As a safety measure, guidewires are used during minimally invasive coronary procedures. The use of technologically improved utilities for the treatment of target ailments, as well as favorable government policies, are some of the main drivers propelling market expansion in this area. On the European market, there are a number of significant competitors, including B. Braun Melsungen AG, Medtronic, Cook Medical, and Stryker. Further, In the European region, the German Guidewires market had the biggest market share, and the U.K. Guidewires market had the quickest rate of growth.

Asia Pacific is anticipated to experience a profitable CAGR over the course of the projection year due to factors like the rising senior population, the prevalence of cardiovascular disease, and the preference for cutting-edge minimally invasive surgery techniques that offer quicker results and higher accuracy. The business is also being boosted by unrealized potential in developing countries like China and India. Further, In the Asia-Pacific region, the Indian Guidewires market had the quickest rate of growth while China's Guidewires market had the greatest market share.

Global Guidewires Market Regional Analysis

North America accounted for the highest xx% market share in terms of revenue in the Guidewires market and is expected to expand at a CAGR of xx% during the forecast period. This growth can be attributed to the growing adoption of Guidewires. The market in APAC is expected to witness significant growth and is expected to register a CAGR of xx% over upcoming years, because of the presence of key Guidewires companies in economies such as Japan and China.

The objective of the report is to present comprehensive analysis of Global Guidewires Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.

Guidewires Market Report is also available for below Regions and Country Please Ask for that

North America

• U.S
• Canada

Europe

• Switzerland
• Belgium
• Germany
• France
• U.K
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Rest of Europe

Asia-Pacific

• India
• Australia
• Philippines
• Singapore
• South Korea
• Japan
• China
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Argentina
• Peru
• Colombia
• Brazil
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Points Covered in the Report

• The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 5 years data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
• The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Questions

• How much the global Guidewires Market valued?
• Which region has the largest share in 2023 for the global Guidewires Market?
• What are the driving factors for the market?
• Which is the leading segment in the global market?
• What are the major players in the market?

Research Scope of Guidewires Market

• Historic year: 2018- 2021
• Base year: 2022
• Forecast: 2023 to 2032
• Representation of Market revenue in USD Million

Guidewires Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends: