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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.

Guidewires Market

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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.

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

Guidewires Market Share By Material

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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

Authors: Rupali Swain

Frequently Asked Questions (FAQ) :

The global market for guidewires size was more than USD 1.2 billion in 2022 and is forecasted to observe over 3.5% CAGR from 2023 to 2032.

Research laboratories end-use segment is predicted to witness a 3.8% CAGR between 2023 and 2032 due to the rising prevalence of target diseases.

Europe guidewires market is expected to surpass USD 457 million by 2032 due to the availability of cutting-edge technology and medical equipment in the region.

AngioDynamicis Inc, Olympus Corporation, Boston Scientific Corp., B. Braun Melsungen AG, Cardinal Health, Abbott, Medtronic, and Stryker Corporation are some of the key players in the market.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 11
  • Tables & Figures: 989
  • Countries covered: 25
  • Pages: 450
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