Guidewires Market Size By Material (Nitinol, Stainless Steel, Hybrid), 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), By End-use (Hospitals, Ambulatory Surgical Centers, Research Laboratories), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026

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

Report Format: PDF   |   Pages: 250   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Guidewires Market size was valued at USD 0.9 billion in 2019 and is expected to witness over 4.9% CAGR from 2020 to 2026. Guidewires are metallic and hybrid structures that help in guiding catheters via the blood vessels for catheter placement. Guidewires are most prominently utilized in cardiology, angiographic, and radiology procedures.
 

Guidewires Market

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The two mostly used combinations of guidewires includes solid steel or nitinol and solid wire wrapped in a smaller wire coil. However, few guidewires are coated with polymers such as polytetrafluoroethylene (PTFE) or silicone that aids in increasing the lubricity of guidewires for various medical applications.
 

Guidewires Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 914.9 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: 250 Tables, Charts & Figures: 510
Geographies covered (23): U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Switzerland, Netherlands, Japan, China, India, Australia, Singapore, Malaysia, Brazil, Mexico, Argentina, Peru, Colombia, South Africa, Saudi Arabia, Egypt, UAE
Segments covered: Material, Coating, Application, End-user
Companies covered (15): Abbott Laboratories, Angiodynamics Inc., Asahi Intecc Co. Ltd., B. Braun Melsungen AG, Boston Scientific Corporation, Cook Group Incorporated, Cardinal Healthcare, Medtronic plc, Olympus Corporation, Stryker Corporation, Terumi Coproration
Growth Drivers:
  • Rising adoption of minimally invasive surgical procedures
  • Increasing number of lifestyle disorders in developing countries
  • Various reimbursement policies in developed countries
  • Growing geriatric population base across the globe
  • Technological advancements
Pitfalls & Challenges:
  • High cost of guidewires
  • Dearth of skilled healthcare professionals in developing economies
  • Risks associated with guidewires
  • Preference of drugs over devices

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Growing geriatric population across the globe will boost the adoption of guidewires

Rising geriatric population will act as high impact factor for growth of guidewires demand. 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 throughout the forecast timeframe.
 

Weakened immunity with presence of varied chronic conditions elevates the risk of complications in old aged individuals. Hence, increasing geriatric population will positively affect guidewires industry growth.
 

Increasing utilization of nitinol guidewires for atraumatic navigation will augment the guidewires market growth

Guidewires Market, By Material

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Nitinol-based guidewires dominated the global market share in 2019 and accounted for USD 298 million. Nitinol-based guidewires offers various advantages over other materials. Few of the advantages include increased flexibility, corrosion resistance, durability as well as increased tactile response. Hence, owing to the aforementioned benefits of nitinol, the guidewires industry is expected to grow at a moderate growth rate in the coming years.
 

Rapid adoption of coated guidewires for interventional procedures will create lucrative opportunities in the market

Guidewires Market By Coating

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Coated guidewires market the highest revenue in 2019 and is expected to register a CAGR of 5% during the forecast timeframe. The high growth rate is attributable 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 grow with a significant growth rate during the analysis period owing to its increased utilization in interventional procedures.
 

The hydrophobic coatings are silicone-based coatings which can repel water and do not need any liquid activation to create a slippery surface on the guidewire. Thus, the coating helps the interventionist to conduct procedures by repealing water and further offers a strong tactile sensation. According to the American College of Cardiology, in the U.S. coronary events are expected to occur in about 1,055,000 individuals.
 

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

Coronary guidewires dominated the global market in terms of revenue in 2019 and is expected to register a growth rate of 4.4% during the study period. Cardiovascular diseases are the leading cause of death in the U.S. and accounted for 840,768 deaths in 2016. Also, in the U.S. about 1,016,000 cardiac catheterization procedures were conducted in 2014.
 

The increase in cardiovascular diseases is due to the lifestyle changes 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 players operating in the market.
 

Elevating preference for guidewires in hospitals will boost the global market

Hospitals held a significant share of the global market in 2019 and was valued at USD 322.3 million. Hospitals are well equipped with cardiovascular devices and units to cater to 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 guidewires market during the forecast period.
 

High prevalence of chronic diseases in the U.S. will boost the market growth

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 serve as major impact rendering factor for growth of North America guidewires market.
 

According to the Centers for Disease Control and Prevention (CDC), in 2015, about 647 thousand Americans die from heart disease each year in the U.S. High pervasiveness of coronary heart disease is attributable 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 serve as major driving factor for growth of guidewires.
 

High technological adoption in North America coupled with growing demand for minimal invasive procedures will drive 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 guidewires 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 guidewires industry 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:
 

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 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
    • Others
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Singapore
    • Malaysia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
    • Peru
    • Others
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Others
       

Frequently Asked Questions (FAQ) :

Nitinol-based guidewires dominated the global market share with USD 298 million valuation in 2019.
Coated guidewires held the highest revenue in 2019 and is expected to register a CAGR of 5% during 2020 to 2026, says this GMI report.
Some of the prominent players in the market include Abbott Laboratories, AngioDynamics Inc., Asahi Intecc CO., LTD, B. Braun Melsungen AG and Cardinal Healthcare Inc. among others.
The coronary guidewires segment is expected to register a 4.4% growth rate during the study period.

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