According to IMARC Group’s latest report, titled “Guidewire Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global guidewires market to exhibit moderate growth during the next five years.
A guidewire is a tube used for deploying medical devices inside the patient’s body. The wire is compact and flexible based on its composition that includes nitinol, stainless steel, platinum, palladium, bimetal, tungsten, and polymers. These materials offer high tensile and torque strength, enhanced durability, and better fatigue resistance. Guidewires are extensively used in vascular interventions and minimally invasive (MI) surgeries based on their hydrophilic and hydrophobic compound coatings that improve lubrication to reach lesions in the blood vessels. As a result, guidewires are widely adopted in various cardiovascular, gastrointestinal, urology, and interventional radiology procedures as they facilitate device delivery and reduce the risks of vascular injuries.
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The rising prevalence of various chronic diseases and growing inclination towards minimally invasive (MI) surgeries are driving the market for guidewires. The widespread utilization of guidewires in bariatric procedures and diagnosis, along with the treatment of various neurological and cardiovascular diseases (CVDs), is further augmenting the product demand. Moreover, the adoption of nitinol materials in the production of guidewires provides enhanced biocompatibility, steerability, and elasticity, thereby bolstering the growth of the guidewires market.
Guidewire Market 2021-2026 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Abbott Laboratories (NYSE: ABT)
- AngioDynamics Inc. (NASDAQ: ANGO)
- ASAHI INTECC Co., Ltd. (TYO: 7747)
- Braun (B. Braun Holding GmbH & Co. KG)
- Boston Scientific (NYSE: BSX)
- R. Bard Inc. (Becton, Dickinson and Company)
- Cardinal Health (NYSE: CAH)
- Cook Medical Incorporated (Cook Group)
- Johnson & Johnson (NYSE: JNJ)
- Medtronic Plc (NYSE: MDT)
- Merit Medical Systems Inc. (NASDAQ: MMSI)
- Olympus Corporation (NASDAQ: MMSI)
- Stryker Corporation (NYSE: SYK)
- Teleflex Medical Inc. (NYSE: TFX)
- Terumo Corporation. (TYO: 4543)
The report has segmented the market on the basis of product, material, application, end user and region.
Breakup by Product:
- Surgical Guidewires
- Hydrophilic Surgical Guidewires
- Hydrophobic Surgical Guidewires
- Diagnostic Guidewires
- Hydrophilic Diagnostic Guidewires
- Hydrophobic Diagnostic Guidewires
Breakup by Material:
- Stainless Steel
Breakup by Application:
Breakup by End User:
- Hospitals, Diagnostic Centers and Surgical Centers
- Ambulatory Care Centers (ACC)
Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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