Global Guidewires System Market, By Product (Surgical Guidewires and Diagnostic Guidewires), Material (Nitinol Guidewires, Stainless Steel Guidewires and Hybrid Guidewires), Coating (Coated and Non-Coated), Application (Cardiology, Vascular, Neurology, Urology, Gastroenterology, Oncology and Otolaryngology), End User (Hospitals, Diagnostic Centres, Surgical Centres, Ambulatory Care Centres, Research Laboratories and Academic Institutes), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights Global Guidewires System Market
Data Bridge Market Research analyses that the guidewires system market to growing at a CAGR of 5.45% in the forecast period of 2022-2029. The growing target disease incidence will help in driving the growth of the guidewires market.
A guidewire is a flexible wire (or, in some cases, a spring) that assists surgeons in the introduction and proper placement of a medical device (particularly prosthesis) into a patient's body. Guidewires are used during interventional procedures to assist a medical practitioner and guide a medical device through the patient's anatomy. Vascular guidewires are thus used in a variety of surgical procedures such as the placement of angioplasty balloons, angioplasty stents, endovascular aneurysm repair stent grafts, plaque modification devices, hemodynamic flow alteration devices, and inferior vena cava filters.
Rising adoption of minimally invasive surgical procedures across major countries, increasing application of guidewires, increasing target disease incidences, and favourable medical reimbursement of guidewires in developed countries are expected to accelerate the growth of the guidewires market during the forecast period of 2022-2029. On the other hand, rising healthcare expenditure in developing countries, as well as government initiatives to reduce the burden of healthcare-associated infections, will fuel the growth of the guidewires market during the forecast period.
The growing number of bariatric surgeries and laparoscopic cholecystectomy procedures are propelling the guidewire market forward. The increased uses of nitinol in vascular guidewires, as well as growth opportunities in emerging economic regions, are expected to provide significant profit opportunities for vascular guidewire manufacturers.
However, the high cost of surgical guidewires and the use of hybrid guidewires due to their benefits such as tensile strength, torque, and columnar strength having a higher cost when compared to conventional diagnostic guidewires. Furthermore, partial reimbursement coverage for minimally invasive surgeries in some developed countries is expected to limit market demand for guidewire.
This guidewires system market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on guidewires system market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Guidewires System Market Scope and Market Size
Guidewires system market is segmented on the basis of product, material, coating, application and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Based on product, the guidewires system market is segmented into surgical guidewires, diagnostic guidewires. The surgical guidewires segment is further 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
- Based on material the guidewires system market is segmented into nitinol guidewires, stainless steel guidewires, and hybrid guidewires
- On the basis of coating, the guidewires system market is segmented into coated and non-coated
- Based on application the guidewires system market is segmented into cardiology, vascular, neurology, urology, gastroenterology, oncology and otolaryngology
- Guidewires system market has also been segmented based on the end user into hospitals, diagnostic centres, and surgical centres, ambulatory care centres and research laboratories and academic institutes
Guidewires System Market Country Level Analysis
The guidewires system market is analysed and market size insights and trends are provided by country, product, material, coating, application and end user as referenced above.
The countries covered in the guidewires system market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the guidewires system market due to the high prevalence of cardiovascular diseases, the increase in the number of coronary and peripheral interventions, and the growing preference for minimally invasive surgeries such as coronary bypass and cardiothoracic surgery, while Asia-Pacific is expected to grow at the fastest rate during the forecast period of 2022 to 2029 due to an increasing geriatric population and rising prevalence of cardiovascular diseases.
The country section of the guidewires system market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The guidewires system market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for guidewires system market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the guidewires system market. The data is available for historic period 2010 to 2020.
Competitive Landscape and Guidewires System Market Share Analysis
The guidewires system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to guidewires system market.
Some of the major players operating in the guidewires system market are Fédération Équestre Internationale, Helmer Scientific Inc., Boekel Scientific, SARSTEDT AG & Co. KG, BioCision., Cardinal Health., GENERAL ELECTRIC COMPANY, Thermo Fisher Scientific, Inc., Bioline India., ARCOX TMC GROUP, LABCOLD, Abbott, Medtronic, Brainlab AG, Varian Medical Systems, Inc., Olympus Corporation, KARL STORZ SE & Co. KG, Karl Kaps GmbH & Co. KG, Seiler Instrument Inc. and ATMOS MedizinTechnik GmbH & Co. KG among others.
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