According to the latest report by IMARC Group, titled “Guidewires Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global guidewires market size reached US$ 1.26 Billion in 2019. A guidewire is a thin, flexible medical wire used to insert, position and move larger devices such as a catheter, central venous line, or feeding tube. It is designed to navigate vessels to reach a lesion or vessel segment. The guidewire has become an integral part of various medical procedures and its use is steadily increasing and expanding. As a result, it is available in a wide array of shapes and tapers for medical specialties.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Guidewires Market Trends:
The occurrence of chronic diseases, such as cardiovascular, urological and neurovascular disorders, especially in the geriatric population, represents the primary factor bolstering the market growth. Guidewires are used for conducting bariatric procedures and diagnosing and treating cardiovascular diseases (CVDs). Besides this, with a significant rise in the healthcare expenditure, individuals are opting for minimally invasive surgical techniques as they offer reduced pain, faster recovery time and smaller incisions. Moreover, with technological advancements, manufacturers can develop a broad range of guidewires, including percutaneous transluminal coronary angioplasty (PTCA) guidewires and micro-guidewires. Looking forward, the market is expected to exhibit moderate growth during 2020-2025.
- Based on the product, the market has been segmented into surgical and diagnostic guidewires.
- On the basis of the material, the market has been classified into nitinol, stainless steel and others.
- The market has been categorized based on the application into coronary, neurovascular, urology and others.
- On the basis of the end user, the market has been segregated into hospitals, diagnostic centers and surgical centers, ambulatory care centers (ACC), and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Indonesia, Australia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
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