Guidewires Market By Product (Surgical Guidewires, Diagnostic Guidewires), By Material (Nitinol Guidewires, Stainless Steel Guidewires, Hybrid Guidewires), By Application (Cardiology, Vascular, Neurology, Urology, Gastroenterology, Oncology, Otolaryngology), By End User, By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Global Forecast to 2025
The global Guidewires market is expected to reach USD 956.3 million by 2025, from USD 587.9 million in 2017 growing at a CAGR of 4.9% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Market Definition: Global Guidewires Market
This market report defines the market trends and forecast the upcoming opportunities and threats of the Guidewires market in the next 8 years. Based on product the guidewires are divided into coronary guidewires, peripheral guidewires, neurovascular guidewires, urology guidewires, radiology guidewires, gastroenterology guidewires, and other guidewires.
The market is growing due to rising occurrences of cardiovascular diseases across the globe. For instance, according to World Health Organization, in 2015, approximately 17.7 million people died due to cardiovascular diseases (CVDs), which is 31.0% of all the global deaths.
Out of these deaths, an estimated 7.4 million were due to coronary heart disease and 6.7 million were due to stroke. There have been tremendous technological advancements in the field of guidewires in the last decade.
For instance, in January 2017, Cook Medical launched the advanced Motion 2-in-1 hybrid wire guide developed for the urology procedures. The advanced guidewires offer better opportunity for the various surgeries.
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Major Market Drivers and Restraints:·
Growing Applications of Guidewires
- Constant Product Launches By Major Manufacturers
- Favorable Medical Reimbursements for Guidewires in Developed Nations
- Higher Prices of Surgical Guidewires
- Dearth of Skilled Surgeons to Conduct Minimally Invasive Surgeries
- Growing Healthcare Expenditure In Emerging Countries
Market Segmentation: Global Guidewires Market
The global guidewires market is segmented based on product, material, application, end user, and geographical segments.
Based on product the global guidewires market is segmented into surgical guidewires, and diagnostic guidewires. The surgical guidewires segment is further sub-segmented on the basis of product into hydrophilic surgical guidewires, and hydrophobic surgical guidewires.
The diagnostic guidewires segment is further sub-segmented on the basis of product into hydrophilic diagnostic guidewires, and hydrophobic diagnostic guidewires.
By material the global guidewires market is segmented into nitinol guidewires, stainless steel guidewires, and hybrid guidewires.
Based on application the global guidewires market is segmented into cardiology applications, vascular applications, neurology applications, urology applications, gastroenterology applications, oncology applications, and otolaryngology applications.
On the basis of end user the market is segmented into hospitals, diagnostic centers, and surgical centers, ambulatory care centers, and research laboratories & academic institutes.
Based on geography the global guidewires market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others.
In 2017, North America is expected to dominate the market.
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Competitive Analysis: Global Guidewires Market
The global guidewires market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of guidewires market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors/Players: Global Guidewires Market
Some of the major players operating in the global guidewires market are Medtronic, Boston Scientific Corporation, C.R. Bard, Terumo Corporation, Abbott Laboratories, B. Braun Melsungen AG, Johnson & Johnson Services, Inc., Stryker, Olympus Corporation, Teleflex Incorporated, Cook Group, Merit Medical Systems, Inc., Cardinal Health, AngioDynamics, ASAHI INTECC CO., LTD., Cordis Corporation, Integer Holdings Corporation, CONMED Corporation, TE Connectivity, Custom Wire technologies, Inc., Modern Grinding, Peter Pflugbeil GmbH, eucatech AG, NeoMetrics, Inc., SP Medical A/S, and Acme Monaco among others.
Research Methodology: Global Guidewires Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models.
Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
Demand Side Primary Contributors: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others
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