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Guidewires Market 2020 By Regional Trend & Growth Forecast To 2026

Author : Ronak Bora | Published Date : 2020-09-03 

Guidewires Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Global guidewires market revenue is estimated to witness a significant surge in the coming years, driven by rising application in minimally invasive surgeries. Additionally, increasing geriatric population leading to a rise in the occurrence of chronic diseases such as cardiovascular, neurovascular and urological disorders is likely to benefit the market growth in the coming years.

As per the World Health Organization (WHO), the worldwide geriatric population by the end of 2050 is estimated to rise by nearly 15%. The introduction of advanced, reliable and safe guidewires technologies such as frictionless hydrophilic coated guidewires, medical infusion, and magnetic navigation solutions is likely to drive the production development.

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Reports estimate that guidewires market size is likely to surpass USD 1.2 billion globally by the end of 2026, in terms of the annual value. In 2019, based on the volume the market share was estimated to be at nearly 9 million units. Traditional stainless- steel based guidewires are widely used in the under-developed regions owing to severe cost constraints. Estimates suggests that global guidewires market size will surpass USD 1.2 billion in terms of annual revenues by 2026.

The growing burden of chronic diseases and lifestyle disorders has resulted in rising number of surgeries. However, masses are more inclined towards minimally invasive procedures, which is fueling the adoption of guidewires.

Growing demand for advanced surgeries and medical equipment has spurred the need for development of advanced products like hybrid guidewires. The introduction of novel cost efficient materials like nitinol may further boost product development in the coming years.

Stainless steel guidewires are traditional guidewires that are commonly utilized in majority of underdeveloped economies on account of cost constraints. In 2019, stainless steel segment held over 22% of the total guidewires market share. This can be attributed to growing disease burden in underdeveloped nations.

Stainless steel guidewires offer efficient push ability, shape as well as torque ability. However, due to low flexibility of the product, nitinol guidewires have witnessed a drop in use in the last few years.

The rising incidence of target diseases among masses has fueled the demand for more research related to drug and therapy discovery. Currently, the potential of guidewires in novel materials and varied applications specific to diagnostic and surgical procedures is under study.

Guidewire industry size from their use in research laboratories is poised to grow at nearly 5 % rate over the projected timeframe.

As per EHN (European Heart Network) 2017 estimates, cardiovascular diseases account for about 3.9 million deaths in Europe and for around 45% of the total deaths in the region. Key factor driving European guidewires market is the availability of novel technologies and advanced medical equipment in European healthcare facilities which are not easily available in developing regions.

A rapid adoption of percutaneous coronary intervention procedure has been witnessed in most of the hospitals across the region over the last few decades.  This can be attributed to advantages of advanced guidewire systems that aid in improving precision as well as control of surgical procedure, imparting higher quality of operating interventions in patients. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/guidewires-market-report

Partial Chapter of the Table of Content 

Chapter 5.  Guidewires Market, By Coating

5.1. Key segment trends

5.2. Coated

5.2.1.  Market size, by region, 2015-2026 (USD Million)

5.2.2.  Hydrophilic Coating

5.2.2.1.    Market size, by region, 2015-2026 (USD Million)

5.2.3.  Anti-thrombogenic/Heparin coating

5.2.3.1.    Market size, by region, 2015-2026 (USD Million)

5.2.4.  Hydrophobic Coating

5.2.4.1.    Market size, by region, 2015-2026 (USD Million)

5.2.5.  Silicone Coating

5.2.5.1.    Market size, by region, 2015-2026 (USD Million)

5.2.6.  Tetrafluoroethylene (TFE) Coating

5.2.6.1.    Market size, by region, 2015-2026 (USD Million)

5.3. Non-coated

5.3.1.  Market size, by region, 2015-2026 (USD Million)

Chapter 6.  Guidewires Market, By Application

6.1. Key segment trends

6.2. Coronary Guidewires

6.2.1.  Market size, by region, 2015-2026 (USD Million)

6.2.2.  Market size, by region, 2015 – 2026 (‘000 Units)

6.3. Peripheral Guidewires

6.3.1.  Market size, by region, 2015-2026 (USD Million)

6.3.2.  Market size, by region, 2015 – 2026 (‘000 Units)

6.4. Urology Guidewires

6.4.1.  Market size, by region, 2015-2026 (USD Million)

6.4.2.  Market size, by region, 2015 – 2026 (‘000 Units)

6.5. Neurovascular Guidewires

6.5.1.  Market size, by region, 2015-2026 (USD Million)

6.5.2.  Market size, by region, 2015 – 2026 (‘000 Units)

6.6. Others

6.6.1.  Market size, by region, 2015-2026 (USD Million)

6.6.2.  Market size, by region, 2015 – 2026 (‘000 Units)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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