During the forecast period, the demand for guidewires is anticipated to increase at a CAGR of 6.1%. (2023-2032). By the end of 2033, the size of the worldwide guidewires market is expected to approach US$ 1,755 Mn, up from US$ 968 Mn in 2023.
Because nitinol guidewires perform more procedurally effectively than guidewires comprised of other materials. In 2022, the market for guidewires made of nitinol brought in US$395.5 million. From 2023 to 2033, a CAGR of 5.5% is predicted for growth. Nitinol-based guidewires have a longer lifespan, more flexibility, and resistance to corrosion. Another reason fueling the industry’s expansion is the rise in nitinol guidewire use in surgical procedures.
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The use of minimally invasive surgery is on the rise, and this, together with improvements in surgical technology, is expected to drive the growth of the global guidewires market. The prevalence of the target ailment is expanding, major manufacturers are introducing new products often, and developed countries offer favorable guidewire medical reimbursement rat
The urology guidewires segment is set to expand the highest, with a CAGR of 7.0% during the forecast period. This is attributed to the increasing prevalence of chronic kidney dysfunctions and the use of dialysis catheters which is anticipated to drive the urology guidewires segment’s growth. Moreover, urology guidewires offer an atraumatic hydrophilic tip, which facilitates negotiating tight areas. Urology guidewires are anticipated to account for at least 15% of the global guidewire market share.
In terms of revenue, North America accounted for the greatest market share in 2018, with US$ 438.75 Mn. The rising frequency of cardiovascular disorders and the increase in coronary and peripheral treatments are the main causes of this. The increased preference for minimally invasive procedures like cardiothoracic and coronary bypass surgery is also one of the main causes boosting regional demand. Another sign of the market’s current enormous potential is the existence of leading companies like Terumo Medical Corporation, Boston Scientific Corporation, Abbott, Cardinal Health, AngioDynamics, and B. Braun Melsungen AG.
Some of the leading players include:
- Boston Scientific Corporation
- Terumo Corporation
- Cardinal Health Inc.
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Global Guidewires: Market Segmentation
By Product Type:
- Diagnostic Guidewires
- Interventional Guidewires
By Material Type:
- Nitinol Guidewires
- PTFE Guidewires
- Stainless Steel Guidewires
- Hybrid Guidewires
By Application:
- Coronary Guidewires
- Peripheral Guidewires
- Neurovascular Guidewires
- Urology Guidewires
- Radiology Guidewires
- Gastroenterology Guidewires
- Other Guidewires (Otolaryngology & Oncology)
By End-user:
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Diagnostic Centers
By Regions:
- North America
- Europe
- Asia Pacific
- Eastern Europe
- Latin America
- Middle East & Africa (MEA)
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The research report on the global Guidewires market also provides an in-detailed analysis of the overall vendor landscape. The report analyzes the key marketing and promotional strategies adopted by the leading companies in the global market. Furthermore, it takes into consideration the existing development, past events, and recent trends to provide a strong and unbiased opinion on the future direction in which these leading companies will be heading into. To back its opinion, the research report covers all the factors and events such as mergers, acquisitions, takeovers, joint ventures, and strategic alliances. It also analyzes the entry barriers and overall intensity of the competition in the global Guidewires market.
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