According to a new report from Transparency Market Research, the global demand for guidewires is driven by the rising preference for minimally invasive surgeries, as minimally invasive techniques are now commonly used for inserting an arterial line. The report, titled ‘Guidewires Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,’ presents a thorough overview of the historical development of the global guidewires market in order to explain the present condition of the market. Based on a solid analysis of the past and present performance of the guidewires, the report provides reliable forecasts regarding its development in the coming years.
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Guidewires are a vital medical tool required to insert catheters in diseased arteries. They are thin, highly flexible, and hollow tubes that allow easy placement of the catheter. Guidewires are usually made of low-cost stainless steel, as they are reusable. However, the tip of the guidewire is lined with elastic material in order to prevent damage to the blood vessels.
Guidewires have experienced a steady rise in demand in the last few years due to the rising preference for minimally invasive surgeries. The use of guidewires to insert a catheter into an artery may cause some pain, but it is the least invasive way of achieving the objective. The widespread awareness among patients about the advantages of minimally invasive techniques has thus driven the demand for guidewires.
Geographically, North America is the leading contributor to the global guidewires market. The key drivers for the North America guidewires market are the rising prevalence of lifestyle conditions that require blood pressure monitoring and the expanding geriatric population. The sedentary lifestyle observed in much of North America is a key driver for the region’s guidewires market, as it is leading to an increase in the prevalence of conditions such as hypertension and diabetes, both of which can cause severe vascular complications.
The consistent advances in the healthcare sector in North American countries have served to extend the region’s average lifespan, resulting in a steady expansion of the geriatric demographic. This is another influential driver for the North America guidewires market, as the elderly are more likely to suffer from degenerative or chronic vascular conditions that require the insertion of an arterial line.
Asia Pacific is likely to emerge as a leading regional market for guidewires in the coming years, even though the APAC market’s 2014 valuation was lower than that of both North America and Europe. The increasing prevalence of lifestyle conditions such as diabetes and various peripheral artery diseases in Asia Pacific is the crucial driver for the regional market for guidewires. The increasingly proactive government efforts to improve their healthcare sector in several countries in Asia Pacific are also expected to help drive the guidewires market.
The report also presents detailed profiles of leading players in the global guidewire market in order to provide readers with actionable insights into the competitive dynamics of the market. Key companies profiled in the report include Abbott Laboratories, Covidien plc, Terumo Corporation, Boston Scientific Corporation, B. Braun Melsungen AG, Medtronic Inc., and Cook Medical.