Guidewires Market Size By Material (Nitinol, Stainless Steel, Hybrid), By Coatings (Coated {Hydrophilic Coating, Anti-thrombogenic/Heparin Coating, Hydrophobic Coating, Silicone Coating, Tetrafluoroethylene (TFE) Coating}, Non-coated), By Application (Coronary Guidewires, Peripheral Guidewires, Urology Guidewires, Neurovascular Guidewires), By Diameter (0.014-inch, 0.018-inch, 0.025-inch, 0.032-inch, 0.035-inch, 0.038-inch), By Length (80 cm, 120 cm, 145 cm, 150 cm, 180 cm, 260 cm, 300 cm, 450 cm), By End-use (Hospitals, Ambulatory Surgical Centers, Research Laboratories), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Sep 2020  |  Report ID: GMI425  |  Authors: Sumant Ugalmugle, Rupali Swain

Report Format: PDF   |   Pages: 469   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Guidewires Market size valued at USD 900 million in 2019 and is expected to witness over 4.9% CAGR from 2020 to 2026.
 

Guidewires are essential medical devices, used in critical life-saving procedures. Thus, it can be expected that the COVID-19 crisis will not significantly impact the manufacturing of guidewires. However, logistical disruptions can be expected especially due to the reliance on Chinese manufacturing. This could disrupt the supply of guidewires and cause temporary shortages, potentially increasing the product price.
 

Guidewires Market

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Rising geriatric population will act as high impact factor for the guidewires market growth. Increasing longevity, international migration as well as declining fertility are major factors for varying age structures in different countries. According to the Demographics of Population Ageing in Latin America, the number of individuals aged 80 years and above were projected to grow at much faster rate than the younger population. Additionally, according to the United Nations, an estimated 962 million individuals across the globe aged above 60 years of age. This number is estimated to reach to 1.4 billion by 2030. Owing to demographic and health transitions, the population suffering from cardiovascular diseases would rise over the coming years. Weakened immunity with presence of varied chronic conditions elevates the risk of complications in old aged individuals.
 

High cost of guidewires could limit the market expansion in the short-run. R&D and introduction costs of advanced surgical devices increase the price of medical devices. This increases overall healthcare costs and could potentially reduce the adoption rate. According to the Fractional Flow Reserve versus Angiography for Multivessel Evaluation (FAME) study, the average cost of percutaneous coronary intervention using guidewires was about USD 14,315. High cost of percutaneous coronary intervention surgery due to guidewires ultimately escalated the overall healthcare expenditure, hampering the industry growth.
 

Guidewires Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 969.2 Million
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 4.9% 2026 Value Projection: USD 1,293.2 Million
Pages: 469 Tables, Charts & Figures: 997
Geographies covered (25): U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Switzerland, Netherlands, China, Japan, India, Australia, Singapore, Malaysia, Brazil, Mexico, Argentina, Columbia, Peru, South Africa, Saudi Arabia, UAE, Egypt
Segments covered: Material, Coatings, Application, Diameter, Length, End-use and Region
Companies covered (11): Abbott, AngioDynamicis Inc, Asahi Intecc, Co Ltd, B. Braun Melsungen AG, Boston Scientific Corporation, Cook Group, Cardinal Health, Medtronic, Olympus Corporation, Stryker Corporation, Terumo Corporation
Growth Drivers:
  • Rising adoption of minimally invasive surgical procedures
  • Increasing number of lifestyle disorders in developing economies
  • Various reimbursement policies in developed countries
  • Growing geriatric population base across the globe
  • Technological advancements
Pitfalls & Challenges:
  • High cost of guidewires
  • Dearth of skilled professionals in developing economies
  • Risk associated with guidewires
  • Preference of drugs over devices

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Increasing utilization of nitinol guidewires for atraumatic navigation

Nitinol-based guidewires dominated the global market share in 2019 and accounted for USD 301.6 million. Nitinol-based guidewires offer various advantages over other materials. Few of the advantages includes increased flexibility, corrosion resistance, durability as well as increased tactile response.
 

Rapid adoption of coated guidewires for interventional procedures

Guidewires Market By Coating

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Coated guidewires market is poised to expand at 5% CAGR during the forecast timeframe. The high growth rate is attributed to the benefits offered by coated guidewires. Coated guidewires are smoother and are consistent with constricted tolerances.
 

Coated guidewires are further bifurcated into hydrophilic coating, anti-thrombogenic/heparin coating, hydrophobic coating, silicone coating and tetrafluoroethylene (TFE) coating. Hydrophobic coated guidewires are expected to register significant growth rate over the coming years owing to its increased utilization in interventional procedures. The hydrophobic coatings are silicone-based coatings which can repel water and does not need any liquid activation to create a slippery surface on the guidewire. Thus, the coating helps the interventionist to conduct procedures by repelling water and further offers a strong tactile sensation.
 

Increase in cardiac procedures across the globe will boost the market growth

Coronary guidewires dominated the global market in terms of revenue in 2019 and is expected to register a growth rate of 4.3% during the study period. Cardiovascular diseases are the leading cause of death in the U.S. and accounted for 840,768 deaths in 2016. The increase in cardiovascular diseases are due to the lifestyle behaviours such as smoking and high intake of cholesterol rich foods. Thus, change in lifestyle habits will eventually lead to cardiovascular diseases and thereby creating opportunities for key market players operating in the market.
 

0.035-inch guidewires serve in wide variety of applications

The 0.035-inch guidewires market will observe around 5.1% growth through 2026. The 0.035-inch wires serve a wide variety of applications, especially in visceral interventions. Increased rail support, improved torque, and ability to straighten twisted vessels will augment the product demand. Furthermore, these guidewires provide an optimal combination of durability, and device support and reach the target lesions.
 

300cm wires provide additional support in various interventional procedures

The 300cm guidewires segment exhibited revenue of USD 200.1 million in 2019. 300cm guidewires are important for flexibility and resistance for externalization, as standard-length guidewires are short. These wires provide more support for chronic total occlusion (CTO). Moreover, 300cm wires create a wire loop by maintaining and supporting the percutaneous coronary interventions (PCI) related devices.
 

Elevating preference for guidewires in hospitals will fuel the market revenue

Hospitals end-use segment valuation was over USD 324.5 million in 2019. Hospitals are well equipped with cardiovascular devices and units to cater various cardiovascular procedures as well as instant necessities can be fulfilled. Also, the increase in gastrointestinal and cardiovascular surgeries coupled with the rising Group Purchasing Organizations (GPO) in developed economies will further help in driving the market size.
 

High prevalence of chronic diseases in the U.S. will impel the guidewires market demand

North America Guidewires Market By Country

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One of the key factors responsible for regional growth is prevalence of various chronic diseases. Availability of advanced treatment procedures and cutting-edge medical device technologies will propel the growth of North American market. According to the Centers for Disease Control and Prevention (CDC), in 2015, about 647 thousand Americans died from heart disease in the U.S. High pervasiveness of coronary heart disease is attributed to adoption of sedentary and unhealthy lifestyle. Moreover, reduced physical activities will further lead to increasing cases of cardiac conditions. Furthermore, the average per-capita spending on healthcare activities in U.S. is very high. Also, several government agencies including the Centre for Medicare and Medicaid provide about 90% of the insurance cover.
 

Presence of highly qualified healthcare personnel in Canada will influence the guidewires market size expansion. High technological adoption in North America coupled with growing demand for minimal invasive procedures will drive the market growth. Presence of major manufacturers and companies in the region further augments industry expansion. Furthermore, people from developing countries that have spending capabilities prefer countries such as U.S. and Canada for availing advanced and rare treatment procedures.
 

Implementation of various strategies such as new product launch and collaborations is expected to create profitable opportunities in the market

Some of the prominent players operating in the market include Abbott Laboratories, AngioDynamics Inc., Asahi Intecc CO., LTD, B. Braun Melsungen AG and Cardinal Healthcare Inc. among others. These major industry players are focusing on new product launches, collaborations, and acquisitions.
 

Recent industry developments:

  • In October 2019, Cardiovascular Systems Inc. announced that the company received a U.S. FDA pre-market approval for their product Viper Wire - Advance Coronary Guide Wire. This new product launch helped the company to expand its product offerings.
     
  • In May 2019, Medtronic launched Telescope Guide Extension Catheter for providing additional backup support as well as access to distal lesions. This telescopic guide is a combination of solid pushwire with a hydrophilic-coated distal segment. The new product launch enabled the company to garner more market share and expand its customer base.
     

The guidewires market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and volume in Units from 2015 to 2026, for the following segments:
 

Market, By Material

  • Nitinol
  • Stainless Steel
  • Hybrid
  • Others

Market, By Coating

  • Coated
    • Hydrophilic Coating
    • Anti-thrombogenic/Heparin Coating
    • Hydrophobic Coating
    • Silicone Coating
    • Tetrafluoroethylene (TFE) Coating
  • Non-coated

Market, By Application

  • Coronary Guidewires
  • Peripheral Guidewires
  • Urology Guidewires
  • Neurovascular Guidewires
  • Others

Market, By Diameter

  • 0.014-inch guidewires
  • 0.018-inch guidewires
  • 0.025-inch guidewires
  • 0.032-inch guidewires
  • 0.035-inch guidewires
  • 0.038-inch guidewires

Market, By Length

  • 80 cm guidewires
  • 120 cm guidewires
  • 150 cm guidewires
  • 180 cm guidewires
  • 260 cm guidewires
  • 300 cm guidewires
  • 450 cm guidewires
  • Others

Market, By End-use

  • Hospitals
  • Ambulatory Surgical Centers
  • Research Laboratories
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Switzerland
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Singapore
    • Malaysia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
    • Peru
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE 
    • Egypt
       

Frequently Asked Questions (FAQ) :

In 2019, the global market size for guidewires was worth USD 900 million. The industry may witness 4.9% CAGR through 2026, owing to the necessity of guidewires for medical devices that are used in critical life-saving procedures.
Nitinol-based guidewires accounted for USD 301.6 million market share in 2019 and will depict appreciable expansion owing to its advantages including increased flexibility, durability, corrosion resistance, and enhanced tactile response.
The availability of next-generation medical device technologies and innovative treatment procedures will drive the North American industry share.
In 2019, the coronary segment dominated the market and will grow at a 4.3% rate through 2026. This can be credited to the increase in cardiovascular diseases due to an unhealthy lifestyle.

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Premium Report Details

  • Published Date: Sep 2020
  • Pages: 469
  • Tables: 978
  • Charts / Figures: 19
  • Companies covered: 11
  • Countries covered: 25

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