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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summary of this report @ http://www.grandviewresearch.com/industry-analysis/guidewires-market
Further
key findings from the study suggest:
·
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.
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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
