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The global guidewires market size is estimated to grow by USD 749.95 million between 2022 and 2027, accelerating at a CAGR of 5.99%. The prevalence of chronic disorders such as cardiac, urological, and neurovascular disorders is driving the growth of the guidewire market. Urological conditions like bladder cancer, prostate cancer, bladder prolapse, painful bladder syndrome, erectile dysfunction, overactive bladder, hematuria, and prostatitis are on the rise, leading to a higher rate of hospitalization among affected individuals. The risk of cardiac arrest is higher for individuals aged 40 and above, and the number of people with cardiac diseases is increasing globally. Trauma, overdose, drowning, asphyxia, and other non-cardiac events contribute to approximately 70-85% of cardiac arrest cases and drive sales.
The sales of neurovascular and urological type also contribute to the overall market growth. Prostate cancer, enlargement of the prostate, and urolithiasis are leading causes of morbidity and mortality, and the incidence of urolithiasis is increasing due to factors like low diet, less fluid intake, obesity, and metabolic syndrome. Thus, the growing prevalence of chronic conditions is driving the growth of the guidewire market.
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This market report extensively covers market segmentation by Product (coronary guidewires, peripheral guidewires, urology guidewires, and neurovascular), End-user (cardiac catheterization laboratories, hospitals, specialty clinics, and ambulatory surgical centers), and Geography (North America, Europe, Asia, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges.
The market share growth of the coronary guidewires segment will be significant during the forecast period. The global coronary guidewires market segment is growing at a significant pace owing to the rising volume of vascular intervention procedures and the increased usage due to the high prevalence of CADs. The end-users shift from conventional procedures to MI surgeries and the implementation of initiatives to diagnose stenosis, occlusion, and other new indications have a positive impact on segment growth.
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Cardiac catheterization laboratories are the second largest segment in the end-user segment. The increasing number of cardiac diseases, heart attacks, and strokes is driving the growth of the segment. The increasing number of cardiac catheterization laboratories centers in Europe and North America is expected to drive the demand for the market during the forecast period.
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North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The guidewires market in North America is witnessing steady growth owing to the increase in the volume of surgeries where a broad range are used as support devices. The US is the major revenue contributor to this region. The rising awareness about various surgical procedures such as nephrectomy, cystectomy, pyeloplasty, and prostatectomy drives the growth of the market in the region. The increased MI procedures in this region owing to the high prevalence of cardiovascular and urological procedures and the increased usage of advanced devices such as guidewires, catheters, and retrieval devices to perform safe and accurate procedures have significantly increased the demand. The growing number of urological procedures has significantly increased the usage of urology.
The market is driven by the increasing prevalence of cardiovascular diseases and the growing adoption of minimally invasive procedures. Technologically advanced products like hybrid guidewires and hydrophilic guidewires are gaining traction due to their effectiveness in image-guided procedures and minimally invasive surgeries. Furthermore, the demand for peripheral guidewires is rising alongside the expansion of healthcare infrastructure and hospitals, facilitating the growth of product manufacturing facilities and driving strategic acquisitions in the catheters market. The trend towards minimally invasive interventional procedures and the need for straight tips and stainless steel guidewires reflect the market's focus on enhancing patient outcomes and reducing procedural risks. Additionally, sales analysis plays a crucial role in identifying market trends and optimizing product offerings to meet the evolving needs of chronic disease patients and those undergoing cardiovascular procedures. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The market is being driven by the surge in minimally invasive (MI) surgeries, particularly in chronic surgeries like urological and cardiovascular procedures. Advancements in coronary and peripheral interventions have spurred clinical trials and new product launches, facilitating the placement of balloon dilatation catheters during procedures such as percutaneous transluminal coronary angioplasty (PTCA) and percutaneous transluminal angioplasty (PTA) for coronary interventions. Urology procedures, including HoLEP, prostatic stenting, and ureteroscopic stone management, have contributed to increased sales. Laparoscopic and angioplasty surgeries, aided by various instruments and tools, are driving demand, with robot-assisted systems gaining popularity. MI procedures offer numerous benefits such as faster recovery, reduced pain, shorter hospital stays, and minimal complications, further fueling market growth.
The choice of materials in guidewires is crucial for their process and therapeutic devices. Nitinol-based ones have seen a surge in demand compared to stainless steel and polymers. With over 60% of interventional procedures requiring guidewires, the use of nitinol offers advantages such as unique characteristics in undergoing phase transformation, greater shape memory, and super elasticity. Nitinol also provides better biocompatibility, elongation recovery, visibility, and radiopacity under X-ray fluoroscopy. Despite using different materials in the outer coil and core areas, nitinol is highly adopted in the production of vascular and urology guidewires. The market growth is expected to increase due to the rise in nitinol material usage in guidewire manufacturing.
Urological, vascular, and neurovascular procedures often require devices like stents and catheters, which require guidewire usage to facilitate correct placement. The choice depends on the patient's medical condition and the surgeon's recommendation. Unfortunately, losing guidewires during procedures can lead to serious complications, including death. Surgeons must be cautious during guidewire retrieval, attempting all possible maneuvers to prevent such outcomes. While a 3D snare device can aid in retrieval, the need for an additional device can limit guidewire usage and hinder market growth.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Abbott Laboratories - The company manufactures and offers TigerWire steerable guide wires that are stainless steel supportive workhorse guide wires designed and developed for exceptional steering.
The report also includes detailed analyses of the competitive landscape of the market and information about prominent and key market players, including:
Technavio’s report consists of a holistic analysis of the key development analysis, development stage, key market players, their marketing strategies, and powerful innovations to help any client gain a competitive edge.
The market is witnessing substantial growth fueled by the demand for technologically advanced products in cardiovascular procedures. With the increasing prevalence of cardiovascular diseases and chronic conditions, minimally invasive interventional procedures are on the rise, driving the demand for guidewires. Key players like Teleflex Incorporated are leveraging strategic acquisitions to expand their product portfolio and manufacturing facilities. The market is characterized by innovations such as hybrid guidewires and ultrasound navigation, catering to the needs of healthcare infrastructure and geriatric populations. Challenges like device mechanism issues are being addressed through advancements in product design and FDA regulations, ensuring the safety and efficacy of guidewire usage in surgical procedures.
Additionally, the market is experiencing significant growth driven by the increasing demand for minimally invasive procedures, particularly in cardiovascular interventions like Percutaneous Coronary Intervention (PCI) procedures and Transcatheter Aortic Valve Replacement (TAVR). With a focus on catering to chronic disease patients, innovative products like hydrophilic guidewires and hybrid imaging facilities are gaining traction. However, challenges such as guidewire failures persist, urging manufacturers like Rapid Medical to enhance product quality and reliability. The market is further propelled by advancements in endoscopic surgical procedures and the expansion of product manufacturing facilities to meet the growing demand for interventional guidewires in surgical cardiovascular procedures.
Also, the market is thriving with advancements in minimally invasive surgical procedures like Balloon Aortic Valvuloplasty (BAV) and Chronic Total Occlusion Percutaneous Coronary Intervention (CTO PCI). The demand is driven by the increasing prevalence of cardiovascular diseases, neurovascular conditions, and Peripheral Artery Disease (PAD). Direct sales force and sales analysis play vital roles in market expansion, alongside innovations in hybrid imaging facilities and image-guided procedures. Stainless Steel Guidewires with straight tips are preferred for their reliability in navigating catheters, addressing challenges posed by unhealthy standard of living and urological disorders.
The market is expanding rapidly with the rise in minimally invasive surgeries and non-invasive procedures for cardiovascular diseases like coronary heart disease. Innovative technologies like hybrid imaging facilities and image-guided procedures, along with advanced guidewires like the Wattson Temporary Pacing Guidewire, are driving market growth in the catheters market. The hybrid imaging facility integrates advanced technology for image-guided procedures, enhancing accuracy in diagnosis and treatment within the acquisition space.
In the realm of healthcare, the landscape is constantly evolving, and one significant aspect of this transformation is the BPS change. This shift encompasses various facets, including advancements in technology and improvements in patient care. One area where these changes are particularly impactful is in the management of cardiovascular diseases. With a growing patient pool affected by such conditions, healthcare providers are continually seeking innovative solutions to enhance treatment outcomes. Enter drivewire technology and image-guided procedures. These cutting-edge tools and techniques revolutionize the way cardiovascular interventions are performed, offering precision and efficiency like never before. By seamlessly integrating these advancements into clinical practice, healthcare professionals can provide patients with optimal care while navigating the complexities of cardiovascular disease management in the modern era.
Guidewires Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2022 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.99% |
Market growth 2023-2027 |
USD 749.95 million |
Market structure |
Fragmented |
YoY growth (%) |
5.18 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 39% |
Key consumer countries |
US, Germany, France, Japan, and China |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Abbott Laboratories, Amecath, AngioDynamics Inc., Asahi Intecc Co. Ltd., B. Braun SE, Becton Dickinson and Co., BIOTRONIK SE and Co. KG, Boston Scientific Corp., Cardinal Health Inc., Cook Group Inc., Cryolife Inc., Lepu Medical Technology Beijing Co. Ltd., Medtronic Plc, Merit Medical Systems Inc., ROCAMED, RONTIS AG, SP Group AS, Stryker Corp., Teleflex Inc., and Terumo Corp. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
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