Global guidewires market is
projected to exceed over USD 2.19 billion in the forecast period. Increasing
population together with increasing prevalence of diseases is likely to drive
demand over the forecast period. Technological innovation has led to product
enhancement on tip retention and flexibility, thus leading to its increasing
requirement from the healthcare sector.
Coronary guidewires
segment was worth USD 700.1 million in 2013 and is likely to be a significant
segment by 2020. Shifting lifestyle habits including dietary irregularities
resulting in growing incidences of obesity and rising number of smokers
globally have led to the high occurrence of cardiovascular diseases, thus
resulting in the product demand.
The industry is expected
to witness changing consumer preference from minimally invasive surgeries to
open/invasive surgeries due to higher patient satisfaction, reduced incision
wounds, and fewer post-surgery complications & mortality rates. In
addition, these processes implicate shorter hospital stays hence making it
economically viable. Demand for guidewires was 16.7 million units in 2013 and
is likely to reach 25.6 million units growing at 6.4% CAGR from 2014 to 2020
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Peripheral guidewire
segment is projected to follow coronary guidelines segment in terms of revenue.
It is expected to grow at a CAGR exceeding 6.0% from 2014 to 2020 on account of
increasing occurrence of peripheral artery diseases (PADs), carotid artery
stenosis (CAS), peripheral vascular diseases (PVDs), and abdominal aortic
aneurysms (AAA).
North America accounted
for the significant share in 2013 due to the high occurrence of neurovascular
& cardiovascular disorders and advanced healthcare infrastructure in the
region. Asia Pacific, on the other hand, is anticipated to be one of the
rapidly growing regional markets for guidewires on account of growing medical
tourism demand in developing countries such as China and India.
Some key industry
participants in guidewires include ASAHI INTECC, Terumo Corporation, Medtronic
Inc., Abbott Laboratories, Cordis Corporation, Covidien, Boston Scientific
Corporation, Cook Medical and B. Braun.
To devise cost-effective
products and technologically advanced tools, significant expenditure in R&D
has been observed over the last three years. This factor has aided the industry
in eventually lowering the number of product recalls. Market players have been
investing increasingly in R&D in order to develop innovative products and
strengthen their foothold in the market. Key specifications include flexible
& minimal wire perforation and tip shape retention.
Key participants in the
urology guidewires market include Boston Scientific Corporation, Cook Medical,
Terumo Corporation and Bard Medical. With the increasing popularity of
“Glidewire”, Terumo’s new product, it is expected to be one of the rapidly
growing companies in this product segment. In addition, market players in the
neurovascular guidewires market include Codman Neurovascular and ASAHI INTECC.
Browse
more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/medical-devices
Grand View Research has
segmented the global guidewires market on the basis of product and region:
Global Guidewires Product Outlook (Volume, Thousand
units; Revenue, USD Million, 2012 - 2020)
·
Coronary Guidewire
·
Peripheral Guidewire
·
Neurovascular Guidewire
·
Urology Guidewire
Guidewires Regional Outlook (Volume, Thousand units;
Revenue, USD Million, 2012 - 2020)
·
North America
·
Europe
·
Asia Pacific
·
RoW
Access press release by Grand View Research: http://www.grandviewresearch.com/press-release/global-guidewires-market
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Grand View Research, Inc. is a U.S. based market research and consulting
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