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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, Covid-19 Impact Analysis, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI425
  • Published Date: Feb 2022
  • Report Format: PDF

Industry Trends

Guidewires Market size accounted for over USD 1.2 billion in 2021 and is estimated to grow at 4.6% between 2022 and 2028 owing to the rising number of lifestyle disorders in developing economies.
 

Global Guidewires Market

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For instance, in 2019, according to the Center for Disease Control and Prevention (CDC) report, more than 18 million U.S. individuals were suffering from coronary artery disease. Such increasing number of coronary artery disease patient may opt for surgical procedure that is expected to escalate the demand for guidewires during surgeries.
 

Guidewires are essential devices used to guide catheters into place via blood vessels during CVC insertions. Guidewires are hybrid metallic structures and are commonly used in angiography, cardiology, and radiology procedures. Certain characteristics of guidewire such as coating, stiffness, shape, and advanced tip enables accuracy. Further, high precision improves the diagnosis and success rate of a surgical procedure.
 

The spread of COVID-19 pandemic across the globe has impacted the industry negatively in 2020. Various companies witnessed a dip ranging from 3% to 8% in the sales of guidewire products in 2020 due to the COVID-19 pandemic due to increasing number of COVID-19 infections and the postponing of non-essential surgical and non-invasive procedures.
 

These procedures are not considered as critical or life-saving procedure and hence, come under elective surgical procedures. In addition, several countries across the globe have restructured the healthcare system and re-prioritized the surgical procedures. Thus, owing to such aspects, there was a decrease in the number of such procedures.
 

Increasing geriatric population base across the globe is expected to propel the market share

The growing geriatric population is more susceptible to various chronic conditions such as cardiovascular diseases (CVD) and chronic kidney disease among others that could potentially lead to an increase in the guidewires market share. For instance, in 2019, according to the World Health Organization (WHO), 17.9 million fatalities were estimated due to CVDs representing 32% of global deaths. Further, it is also estimated that over 75% of CVDs have been recorded in low and middle-income countries.
 

Thus, growing CVD among geriatric population will increase the demand for guidewires. Furthermore, the aging population is highly susceptible to various chronic diseases and infections owing to weakened immunity, therefore increases the risk of complications. Hence, increasing geriatric population is expected to positively impact the guidewires market growth during the analysis period.
 

Risk associated with guidewires may hamper the market size

Guidewires have several risks associated with their usage and can lead to complications that can be fatal. Guidewires can perforate or puncture a vessel, or the cardiac chambers. Other complications arising from guidewires are cardiac arrhythmias, cardiac conduction abnormalities, and loss of guidewire in the vascular system. These are serious complications and can be fatal. Therefore, this could serve to dissuade several potential patients from undergoing procedures involving guidewires.
 

Advantages associated with nitinol guidewires will augment the growth of the guidewires market

Global Guidewires Market Share By Material

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Based on material, the guidewires market is segmented into nitinol, stainless steel, hybrid, and others. Nitinol based guidewires market accounted for USD 382.5 million revenue in 2021 due to enhanced procedural outcomes of nitinol as compared to the guidewires composed of other materials.
 

The nitinol-based guidewires possess certain advantages including corrosion resistance, better durability, and increased flexibility, among others The segment growth can be further credited to the increasing number of medical procedures that employ nitinol guidewires.
 

Rapid adoption of coated guidewires owing to its benefits offered will create growth opportunities in the market

Based on coating, the guidewires market is segmented into coated and non-coated. Coated guidewires segment is forecasted to expand at 4.7% CAGR through 2028 owing to the benefits offered by coated guidewires. Coated guidewires are accountable for smoother transmission of guidewire and is commonly used for complex anatomical structure especially in interventional procedures. Moreover, the hydrophobic coatings are silicone-based coatings which do not require additional liquid activation to create a slippery surface on the guidewire. Also, coated guidewire delivers optimal torque responses for device delivering challenging anatomy.
 

Coronary guidewire is expected to continue to dominate the market during the analysis period

Based on application, the guidewires market is segmented into coronary guidewires, peripheral guidewires, urology guidewires, neurovascular guidewires, and others. Coronary guidewires segment is expected to register a market growth rate of 4% from 2022 to 2028. Growing number of patient pool with chronic disease is expected to drive the demand for percutaneous coronary intervention procedures.
 

For instance, according to the American Heart Association (AHA) on heart disease and stroke statistics in 2020, more than 90 million individuals are suffering from coronary heart disease annually in U.S. only. As number of people suffering from coronary artery disease is rising steadily, the demand for percutaneous coronary intervention procedures will increase. Thus, this will lead to an increase in the adoption rate of guidewires during percutaneous coronary intervention procedures.
 

Wide variety of applications of 0.035-inch segment will spur the market forecasts

Based on diameter, the guidewires market is classified into 0.014-inch, 0.018-inch, 0.025-inch, 0.032-inch, 0.035-inch and 0.038-inch guidewires. The 0.035-inch guidewire segments accounted for USD 447.5 million market revenue in 2021. The 0.035-inch wires have numerous applications, particularly in visceral interventions, as they improved torque, rail support and the ability to straighten twisted vessels. Moreover, these guidewires offer the best combination of durability, device support, and ability to reach the target lesions.
 

Usage of 300 cm guidewire in various interventional procedures will upsurge the segmental demand

Based on length, the guidewires market is bifurcated into 80 cm, 120 cm, 145 cm 150 cm, 180 cm, 260 cm, 300 cm, 450 cm, and others. 300 cm guidewires segment is expected to reach market revenue of USD 350.2 million by 2028. The 300cm guide wires are flexible, provide intended stability and externalization resistant. Also, the wire provides additional support for chronic total occlusion (CTO) and creates wire loop by supporting and maintaining the percutaneous coronary interventions (PCI) related devices.
 

Thus, the stated advantages associated with 300 cm guidewires will boost the market growth in the forecast period. Furthermore, rising demand for minimally invasive procedure among other geriatric population will boost the product demand.
 

Elevating preference for guidewires in cardiovascular procedure will boost the segmental expansion

Based on end-use, the guidewires market is segmented into hospitals, ambulatory surgical centers, research laboratories and others. Hospitals segment accounted for 35.3% market share in 2021 and is expected to show similar trend during the analysis period. Hospitals are well equipped with cardiovascular devices and units to cater various cardiovascular procedures as well as instant necessities can be fulfilled.
 

For instance, according to Center for Disease Control and Prevention (CDC) report, nearly 800,000 in the U.S. have a heart attack every year and one in four people already had a heart attack earlier. Thus, usage of guidewires in patient undergoing cardiovascular surgeries in hospital settings will propel the guidewires market growth during the projected years.
 

Increasing prevalence of chronic diseases across the North American region will foster the guidewires market statistics

Global Guidewires Market Size By Region

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North America guidewires market is expected to exhibit lucrative market growth of 3.6% during the forthcoming years. The major factor contributing the regional growth is increasing prevalence of various chronic disease coupled with growing patient preference for minimally surgical invasive procedures.
 

In the interventional surgery, the surgeon moves the guidewire along the blood vessel to the lesion site and take appropriate treatment for the disease. Thus, guidewires play an important role in minimally invasive interventional procedure. Furthermore, presence of key players focusing in the region are focusing on the development of novel guidewire in various fields including gastrointestinal application will spur the regional guidewires market revenue.
 

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

Some of the key players operating in the global guidewires industry 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 to sustain market competition.
 

Recent industry developments:

  • In March 2021, Asahi Intecc Co, Ltd announced that Asahi Intecc J-sales, Inc., a group company of Asahi Intecc will undertake the direct sales of endoscopic guidewire “M-Through” in Japan. This guidewire is widely used in gastrointestinal field. This strategy is expected to strengthen the company’s presence in the country.
     

The guidewires market report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and volume in Units from 2017 to 2028, for the following segments:

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:

By Region

  • 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

 

Authors: Sumant Ugalmugle, Rupali Swain

Frequently Asked Questions (FAQ) :

Global market for guidewires exceeded USD 1.2 billion in 2021 and is anticipated to expand at a rate of 4.6% from 2022 to 2028 driven by the growing number of lifestyle disorders in developing economies.

Nitinol based guidewires market value was around USD 382.5 million in 2021 and is set to observe substantial growth owing to numerous advantages such as increased flexibility, corrosion resistance, and better reliability.

Coated guidewires industry size is expected to grow at a CAGR of 4.7% up to 2028 considering the extensive product usage for complex anatomical structure particularly in interventional procedures.

North America market for guidewires is slated to record a growth rate of 3.6% through 2028 propelled by the rising patient preference for minimally invasive surgical procedures.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 11
  • Tables & Figures: 998
  • Countries covered: 25
  • Pages: 460

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