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Guidewires Market - By Material (Nitinol, Stainless Steel, Hybrid), By Coatings (Coated, Non-coated), By Application (Coronary Guidewires, Peripheral Guidewires, Urology Guidewires, Neurovascular Guidewires), By Diameter, By Length, By End-use & Forecast, 2023-2032
- Report ID: GMI425
- Published Date: Jan 2023
- Report Format: PDF
Industry Statistics
Guidewires Market size was more than USD 1.2 billion in 2022 and is forecasted to observe over 3.5% CAGR from 2023 to 2032. Growing preference for minimally invasive surgical procedures to drive market growth.
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The high prevalence of chronic diseases will elevate the demand for minimally invasive surgeries and related equipment. Surgical guidewires have witnessed noteworthy advancements in recent years. The component helps surgeons to operate various diagnostic and therapeutic medical procedures for vascular therapy. It also allows them to easily track and access harder-to-reach lesions. The rise in cases of cardiovascular disease due to unhealthy habits like smoking, alcohol consumption, and other lifestyle choices should fuel the need for guidewires in the healthcare sector.
| Report Coverage | Details |
|---|---|
| Base Year: | 2022 |
| Market Size in 2022: | USD 1.2 million |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 3.5% |
| 2032 Value Projection: | USD 1.5 million |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 450 |
| Tables, Charts & Figures: | 989 |
| Segments covered: | Material, Coatings, Application, Diameter, Length, End-use and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The lack of skilled surgeons and medical practitioners could impact product adoption. The demand for highly skilled personnel has surged due to robust technological advancements in the healthcare sector. Qualified personnel are versed to understand and efficiently use the latest medical technologies while performing various surgeries. However, developing economies are struggling to find skilled healthcare professionals which may impact the use of advanced surgical guidewires to some extent.
Wide-ranging benefits of nitinol guidewires to influence product demand
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Guidewires market share from the nitinol material segment was valued at over USD 411 million in 2022 and is expected to showcase promising growth over the forecast period. Nitinol-based guidewires provide several benefits, including improved longevity, enhanced flexibility, and resistance to corrosion. It is popular for its biocompatibility, super elasticity, and shape memory that allows the wire to bend and regain its original form after use. These features have triggered product use across numerous surgical procedures.
Optimum torque responses of coated guidewires to drive product uptake
Guidewires market size from the coated segment was nearly USD 1 billion in 2022. Coated guidewires are commonly utilized for complex anatomical structures, especially in interventional procedures. These guidewires provide optimum torque responses for devices that help undertake difficult anatomy. The coatings reduce friction by repelling water. Meanwhile, hydrophobic coatings are used to make the guidewires slippery as they are silicone-based coatings and do not require any additional liquid activation.
Rising cases of urological illnesses to drive the usage of guidewires
Guidewires market share from the urology application segment is forecasted to reach over USD 326 million by end of 2032. Cases of urological illnesses including kidney stones, UTIs, prostate cancer, and bladder control issues have elevated drastically in recent years. According to the American Cancer Society, in 2021, approximately 268,490 people were diagnosed with prostate cancer. Uptake of guidewires to treat such conditions through various medical procedures should spur market forecasts.
Increasing incidence of target diseases to drive product demand across research labs
Guidewires market from the research laboratories end-use segment is predicted to witness a 3.8% CAGR between 2023 and 2032. Intensifying prevalence of target diseases along with the growing population has driven the need for research activities to develop treatments that employ guidewires. According to the WHO, in 2021, around 10.6 million people had tuberculosis (TB) worldwide. The untapped potential of these medical wires and other materials are studied to advocate its use in various surgical or diagnostic procedures.
Advanced healthcare technology and infrastructure to support Europe market expansion
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Europe guidewires market is expected to surpass USD 457 million by 2032. The region has some of the leading medical device manufacturers that are developing cutting-edge technology and surgical equipment. Percutaneous coronary intervention has become widely used in both developed and developing economies throughout Europe. This is due to the availability of cutting-edge guidewire systems, which enhance the control and precision of the operation while providing patients with better operative care.
Strategic planning by companies in the market
AngioDynamicis Inc, Olympus Corporation, Asahi Intecc, Co Ltd, Boston Scientific Corporation, Cook Group, B. Braun Melsungen AG, Cardinal Health, Abbott, Terumo Corporation, Medtronic, and Stryker Corporation are some of the eminent players in the global market. Collaborations and mergers, strategic planning, new product launches, and much more are helping improve their standing.
Delays in elective surgeries due to COVID-19 impact trends
The COVID-19 pandemic had a negative impact on the global guidewires market. The outbreak declined the sales of guidewire equipment by 3% to 8% due to an increase in COVID-19 infections as well as a delay in non-essential surgical and minimally invasive procedures. The healthcare system across various countries was reorganized during the pandemic. Surgical treatments that were not critical or life threating were put on hold to reduce load on the healthcare sector. With restrictions steadily lifted, it is expected that the market will experience expansive growth in the post COVID-19 era.
The guidewires market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue in USD Million from 2018 to 2032 for the following segments:
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By Material
- Nitinol
- Stainless steel
- Hybrid
- Others
By Coating
- 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
- Others
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
By Length
- 80 cm guidewires
- 120 cm guidewires
- 150 cm guidewires
- 180 cm guidewires
- 260 cm guidewires
- 300 cm guidewires
- 450 cm guidewires
- Others
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
- Spain
- Italy
- Russia
- Switzerland
- Netherlands
- Asia Pacific
- China
- India
- Japan
- Australia
- Singapore
- Malaysia
- Latin America
- Brazil
- Mexico
- Argentina
- Columbia
- Peru
- Middle East and Africa
- South Africa
- Saudi Arabia
- UAE
- Egypt
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