The Guidewire Market size is projected to reach USD 1,401.0 million by 2026, exhibiting a CAGR of 5.9% during the forecast period. Rising incidence rate of cardiovascular diseases is expected to be one of the major forces of growth for this market. According to estimates released by the American Heart Association (AHA), a staggering 15.5 million Americans were suffering from coronary heart disease in 2016. These numbers augur good news for the guidewire market as a steady rise in the prevalence of cardiovascular disorders will necessitate the utilization of advanced guidewire technology for quicker diagnosis and delivery of more accurate treatment for these conditions. Moreover, these devices are also crucial in diagnosing gastrointestinal disorders, which will further boost their employment in the healthcare industry.
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Leading Players operating in the Guidewire Market are:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the Spirometers industry are:
- Teleflex Corporation
- Olympus Corporation
- Abbott
- Boston Scientific Corporation
- Merit Medical Inc.
- Cook
- C. R. Bard, Inc.
- Terumo Medical Corporation
- Abbott
New Product Launches to Make Competition Exciting
Competitors are looking to consolidate their position in the guidewire market by developing and launching new products and widening their offerings to consumers. Moreover, many players are entering into partnerships to strengthen their hold on the market, accelerating the Guidewire Market revenue.
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Key Industry Developments:
- May 2019:Olympus Corporation launched the RevoWave Endoscopic Guidewire in the US under the distribution agreement signed by Olympus with the Japan-based Piolax Medical Devices. These guidewires are designed to perform biliary endoscopy, stent placement, and balloon dilation, providing atraumatic biliary cannulation.
- January 2018: Cardiovascular Systems entered into a strategic collaboration with OrbusNeich and Integer to broaden its portfolio and enter the peripheral and coronary interventions domain.
Growing Preference for Minimally Invasive Diagnostic Procedures to Catalyze Growth
One of the primary factors driving the Guidewire Market trends is the demand for minimally invasive procedures for diagnostic purposes, which is gaining ground in healthcare. This is on account of the benefits offered by such procedures. For example, a patient will recover at a faster rate if the incision in her body is small and narrow. This would also minimize the patient’s hospital stay, saving her a good amount of her resources. Technologically advanced guidewires allow for superior lesion access and better visibility, which brings down procedural costs and becomes more pocket-friendly for the patient. The guidewire market stands to gain as a result.
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Technological advancements in Guidewire Market
- Key Industry Developments- Partnerships, Mergers and Acquisitions
- New Product Launched by Key Players
- Prevalence of Major Cardiovascular Conditions for Key Countries
- Regulatory Scenarios
- Global Guidewire Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Coronary Guidewires
- Peripheral Guidewires
- Urology Guidewires
- Neurovascular Guidewires
- Others
-
- Market Analysis, Insights and Forecast – By Material
- Nitinol
- Stainless Steel
- Others
-
- Market Analysis, Insights and Forecast – By Coating
- Coated
- Non-coated
-
- Market Analysis, Insights and Forecast – By End User
- Hospitals & Clinics
- Diagnostic Centers
- Others
-
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Latin America
- Middle East & Africa
TOC Continued….!
Market Segmentation:
By Product
- Coronary Guidewires
- Peripheral Guidewires
- Urology Guidewires
- Neurovascular Guidewires
- Others
By Material
- Nitinol
- Stainless Steel
- Others
By Coating
- Coated
- Non-coated
Reasons to Purchase this Report:
- Comprehensive analysis of the Guidewire Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
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KEY QUESTIONS ANSWERED:
- What are the key technological and Guidewire Market trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
- Why Choose Fortune Business Insights?
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the Guidewire Market growth?
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