The global guidewires market size to reach around US$ 1,512.2 Mn by 2030 and is anticipated to grow at a CAGR of around 5% from 2021 to 2030. Growing incidences of target diseases across the globe is major factor driving the growth of the global guidewires market.
Precedence Research, Recently Published Report on “Guidewires Market Size, Share, Growth, Trends, Segment Forecasts, Regional Outlook 2021 - 2030”. The report offers an up-to-date analysis regarding the current market scenario, latest trends, key drivers, potential challenges, profitability graph and the overall market environment.
Guidewires refers to the flexible tube is used for guiding the catheter into diseased artery for accurate placement. Guidewires offers advantages including quicker recovery time, smaller incisions, and reduced pain. Growing demand for the guidewires owing to its benefits for the minimally invasive surgical procedures is supporting the global industry growth. Geriatric population across the globe is increasing continuously and leading to the various chronic diseases like neurovascular disorders, cardiovascular diseases, and urological diseases intern boosting growth of the global industry in the near future. Governments in developed countries are offering favorable reimbursement framework which is expected to support the growth of the guidewires industry. Emerging markets are spending heavily on the healthcare and offering lucrative growth opportunities for the vendors, distributors, end uses across the world. Major trends witnessed in the global market are healthcare providers in Europe are focusing on consolidation. The trend is anticipated to continue and will propel industry growth in the near future.
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Growth Factors:
Growing incidences of target diseases across the globe is major factor driving growth of the global guidewires market. In addition to this, key players operating in the global industry are focusing on the launches of the advanced products which is propelling the target industry market in the near future. Furthermore, favorable medicinal reimbursements for the guidewire are another factor to boost growth of the global industry in the near future. Furthermore, growing demand for the guidewire, owing to increasing minimally invasive surgical procedures worldwide. Moreover, increasing applications of the guidewire for various end uses purposes is another factor expected to have positive impact on the growth of the target industry in the near future. Continue increase in the old aging population is in turn creating huge demand for the guidewires and propelling industry growth. Some factors such as declining rate of fertility, growth in the longevity and worldwide migrations are anticipated to augment growth of the global industry over the next 10 years. Ongoing technological advancements by the major manufacturers across the globe are creating potential opportunities for the target industry growth. However, high costs associated with the guidewires are major factor hampering on the market growth. Also, risks associated with the guidewires may hamper growth of the target market in the near future.
Report Highlights:
- Among the product, coronary segment accounted for the largest revenue with significant share in 2020. This is growth is due growth in the prevalence of cardiovascular diseases across the globe. Neurovascular segment is expected to grow at a noteworthy CAGR during the forecast time-frame.
- Among the coating segment, coating accounted for the largest revenue with significant share in 2020. This is growth is attributed to the rising preference for the hydrophilic coated guidewires in vascular procedures across the globe.
- On the basis of raw materials, stainless steel segment accounted for the largest revenue with significant share in 2020. This is growth is due to the excellent corrosion resistance property offered by stainless steel across the globe. Nitinol are expected to grow at a significant CAGR during the forecast time-frame.
- Abbott, accounted for a significant share of the global guidewires market. The growth is attributed to various business strategies adopted by the company.
Regional Analysis:
The report covers data for North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. In 2020, North America dominated the global market with a market share of more than 30%. United States represented the highest share in the North America region primarily due to growing preference for the minimally invasive surgical procedures in the country. Further availability of reimbursements for the guidewires is another factor expected to fuel growth of the region in the near future. Further Europe is an important market in the guidewires. The growth of the guidewires industry in the countries of the Asia Pacific is attributed to growing adoption of the guidewires due to increasing minimally invasive surgical procedures in the countries including China, India, Japan, among others. Asia Pacific anticipated growing at the maximum CAGR in the forecast period due increasing launch of advanced products in the countries of the region. Also, developed economies across the globe are adopting guidewires owing to favorable medical reimbursements by the regulatory bodies in the region. Latin America and the African and Middle Eastern region will show perceptible growth over the forecast period owing to growing applications of guidewires in the countries including Brazil, Mexico, GCC of the regions.
Key Market Players and Strategies:
The major companies functioning in the worldwide guidewires are Olympus Corporation, B. Braun Melsungen AG, Abbott, Asahi Intecc, Co Ltd, Medtronic, Boston Scientific Corporation, Terumo Corporation, Stryker Corporation, Cook Group, AngioDynamicis Inc, and Cardinal Health among others. Investment in the research and development of the guidewires along with strategic collaborations are the crucial business strategies undertaken by the major players operating in the global guidewires market.
Major Market Segments Covered:
By Product
- Coronary
- Peripheral
- Urology
- Neurovascular
By Coating
- Coated
- Hydrophilic
- Hydrophobic
- Non coated
By Raw Materials
- Nitinol
- Stainless Steel
- Others
By Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- United Kingdom
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. DataSources
2.3. Assumptions& Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Guidewires Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
Chapter 5. COVID 19 Impact on Guidewires Market
5.1. Covid-19: Guidewires Industry Impact
5.2. Guidewires Business Impact Assessment: Covid-19
5.2.1. Services Challenges/Disruption
5.2.2. Market Trends and Guidewires Opportunities in the COVID-19 Landscape for Major Markets
5.3. Strategic Measures against Covid-19
5.3.1. Government Support and Initiative to Combat Covid-19
5.3.2. Proposal for Guidewires Market Players to deal with Covid-19 Pandemic Scenario
Chapter 6. Guidewires Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.1.1. Product launches by key manufacturers
6.1.1.2. Increasing applications of guidewires
6.1.2. Market Restraints
6.1.2.1. High cost of surgical guidewires
6.1.3. Market Opportunities
6.1.3.1. Emerging applications
Chapter 7. Global Guidewires Market: Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.1.1. Guidewires Market Revenue by Market Players (2017 - 2020)
7.1.1.2. Guidewires Market Revenue Market Share by Market Players (2017 - 2020)
7.1.2. Key Organic/Inorganic Strategies Adopted by Players
7.1.2.1. Product Portfolio Expansion, Geographic Expansion, Product Innovation
7.1.2.2. Merger and Acquisition, Collaboration and Partnerships
7.1.3. Market Players Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of End-users
Chapter 8. Global Guidewires Market, By Product
8.1. GuidewiresMarket, by Product, 2017-2030
8.1.1. Coronary
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Peripheral
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Urology
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Neurovascular
8.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Guidewires Market, By Coating
9.1. Guidewires Market, by Coating, 2017-2030
9.1.1. Coated
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.1.1.1. Hydrophilic
9.1.1.1.2. Hydrophobic
9.1.2. Non Coated
9.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Guidewires Market, By Raw Material
10.1. Guidewires Market, by Raw Material, 2017-2030
10.1.1. Nitinol
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Stainless Steel
10.1.2.1. Market Revenue and Forecast (2017-2030)
10.1.3. Others
10.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Guidewires Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue Forecast by Product(2017-2030)
11.1.2. Market Revenue Forecast by Coating (2017-2030)
11.1.3. Market Revenue Forecast by Raw Material (2017-2030)
11.1.4. U.S
11.1.4.1. Market Revenue Forecast (2017-2030)
11.1.5. Canada
11.1.5.1. Market Revenue Forecast (2017-2030)
11.2. Europe
11.2.1. Market Revenue Forecast by Product (2017-2030)
11.2.2. Market Revenue Forecast by Coating (2017-2030)
11.2.3. Market Revenue Forecast by Raw Material (2017-2030)
11.2.4. UK
11.2.4.1. Market Revenue Forecast (2017-2030)
11.2.5. Germany
11.2.5.1. Market Revenue Forecast (2017-2030)
11.2.6. France
11.2.6.1. Market Revenue Forecast (2017-2030)
11.2.7. Rest of EU
11.2.7.1. Market Revenue Forecast (2017-2030)
11.3. Asia Pacific (APAC)
11.3.1. Market Revenue Forecast by Product (2017-2030)
11.3.2. Market Revenue Forecast by Coating (2017-2030)
11.3.3. Market Revenue Forecast by Raw Material (2017-2030)
11.3.4. China
11.3.4.1. Market Revenue Forecast (2017-2030)
11.3.5. India
11.3.5.1. Market Revenue Forecast (2017-2030)
11.3.6. Japan
11.3.6.1. Market Revenue Forecast (2017-2030)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue Forecast (2017-2030)
11.4. LATAM
11.4.1. Market Revenue Forecast by Product (2017-2030)
11.4.2. Market Revenue Forecast by Coating (2017-2030)
11.4.3. Market Revenue Forecast by Raw Material (2017-2030)
11.4.4. Brazil
11.4.4.1. Market Revenue Forecast (2017-2030)
11.4.5. Rest of LATAM
11.4.5.1. Market Revenue Forecast (2017-2030)
11.5. Middle East and Africa (MEA)
11.5.1. Market Revenue Forecast by Product (2017-2030)
11.5.2. Market Revenue Forecast by Coating (2017-2030)
11.5.3. Market Revenue Forecast by Raw Material (2017-2030)
11.5.4. GCC
11.5.4.1. Market Revenue Forecast (2017-2030)
11.5.5. North Africa
11.5.5.1. Market Revenue Forecast (2017-2030)
11.5.6. South Africa
11.5.6.1. Market Revenue Forecast (2017-2030)
11.5.7. Rest of MEA
11.5.7.1. Market Revenue Forecast (2017-2030)
Chapter 12. Company Profiles
12.1. Abbott
12.1.1. Company Overview, Business Information, Regional Presence
12.1.2. Product Portfolio Analysis
12.1.2.1. Product Details, Specification, Application
12.1.3. Revenue, Price, and Gross Margin (2017-2020)
12.1.4. Recent Developments and Strategies
12.2. AngioDynamicis Inc
12.2.1. Company Overview, Business Information, Regional Presence
12.2.2. Product Portfolio Analysis
12.2.2.1. Product Details, Specification, Application
12.2.3. Revenue, Price, and Gross Margin (2017-2020)
12.2.4. Recent Developments and Strategies
12.3. Asahi Intecc, Co Ltd
12.3.1. Company Overview, Business Information, Regional Presence
12.3.2. Product Portfolio Analysis
12.3.2.1. Product Details, Specification, Application
12.3.3. Revenue, Price, and Gross Margin (2017-2020)
12.3.4. Recent Developments and Strategies
12.4. B. Braun Melsungen AG
12.4.1. Company Overview, Business Information, Regional Presence
12.4.2. Product Portfolio Analysis
12.4.2.1. Product Details, Specification, Application
12.4.3. Revenue, Price, and Gross Margin (2017-2020)
12.4.4. Recent Developments and Strategies
12.5. Boston Scientific Corporation
12.5.1. Company Overview, Business Information, Regional Presence
12.5.2. Product Portfolio Analysis
12.5.2.1. Product Details, Specification, Application
12.5.3. Revenue, Price, and Gross Margin (2017-2020)
12.5.4. Recent Developments and Strategies
12.6. Cook Group
12.6.1. Company Overview, Business Information, Regional Presence
12.6.2. Product Portfolio Analysis
12.6.2.1. Product Details, Specification, Application
12.6.3. Revenue, Price, and Gross Margin (2017-2020)
12.6.4. Recent Developments and Strategies
12.7. Cardinal Health
12.7.1. Company Overview, Business Information, Regional Presence
12.7.2. Product Portfolio Analysis
12.7.2.1. Product Details, Specification, Application
12.7.3. Revenue, Price, and Gross Margin (2017-2020)
12.7.4. Recent Developments and Strategies
12.8. Medtronic
12.8.1. Company Overview, Business Information, Regional Presence
12.8.2. Product Portfolio Analysis
12.8.2.1. Product Details, Specification, Application
12.8.3. Revenue, Price, and Gross Margin (2017-2020)
12.8.4. Recent Developments and Strategies
12.9. Olympus Corporation
12.9.1. Company Overview, Business Information, Regional Presence
12.9.2. Product Portfolio Analysis
12.9.2.1. Product Details, Specification, Application
12.9.3. Revenue, Price, and Gross Margin (2017-2020)
12.9.4. Recent Developments and Strategies
12.10. Stryker Corporation
12.10.1. Company Overview, Business Information, Regional Presence
12.10.2. Product Portfolio Analysis
12.10.2.1. Product Details, Specification, Application
12.10.3. Revenue, Price, and Gross Margin (2017-2020)
12.10.4. Recent Developments and Strategies
12.11. Terumo Corporation
12.11.1. Company Overview, Business Information, Regional Presence
12.11.2. Product Portfolio Analysis
12.11.2.1. Product Details, Specification, Application
12.11.3. Revenue, Price, and Gross Margin (2017-2020)
12.11.4. Recent Developments and Strategies
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
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