Guidewires Market Revenue Forecast 2026 By Regional Players Abbott Laboratories, AngioDynamics Inc., Asahi Intecc CO., LTD

Guidewires Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

The guidewires market is slated to witness considerable revenue growth over the coming years, undeniably attributing to the rising preference for minimally invasive surgeries across the globe. According to recent reports, nearly 1.5 million cases of MI (myocardial infraction) occur yearly across the U.S. alone. This has further resulted in an elevated adoption of guidewires, which is greatly favoring the industry growth.

As per a GMI, research report, guidewires market is slated to surpass a $1.2 billion valuation by 2026.

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Industry-leading participants have been producing guidewires with a variety of materials, flexibility, length, diameters, coatings, and other mechanical properties for suitability in a wide range of clinical applications. Based on material, the stainless steel segment held 22.5% of the total market share in 2019. Stainless steel is preferred raw material owing to the fact that it exhibits superior mechanical properties like more torque ability, push ability, and good shape ability.

Nitinol is another important material segment that is expected to push guidewires industry outlook in terms of growth rate as well as revenue share. The companies have started manufacturing Nitinol-based guidewires steel due to its advantages such as superior flexibility and low cost as compared to other materials, which is likely to improve global guidewires business outlook.

Guidewires have been a mainstay of peripheral procedures and are now a fundamental tool used to establishing access to vascular systems. In fact, the peripheral guidewires segment held 28.9% of the total market share in 2019. Peripheral guidewires are used in supporting the placement of catheters in vessel anatomy. Some of peripheral guidewires that have gained prominence in the healthcare settings include Gaia PV peripheral guidewires, ASAHI Gladius, ASAHI Halberd (Asahi Intecc Co., Ltd.), Victory Guidewires (Boston Scientific), and carnelian support (Biotronik).

On the regional front, the Europe guidewires market is expected to record USD 331.2 million by 2026. This growth is majorly attributed to the high prevalence of cardiovascular diseases and an increase in the number of peripheral and coronary interventions. As per the EHN (European Heart Network) estimates, in 2017, CVD was responsible for the deaths of 3.9 million people in Europe. This has led to an increase in the demand for minimally invasive surgeries, which in turn driving Europe guidewires market size.

As per estimates, based on volume, the guidewires market is estimated to be over 77.5 million units by 2026. The strong presence leading industry participants is a key reason boosting guidewires market volume. Companies such as Cook Group Incorporated, B. Braun Melsungen AG, Medtronic plc., Boston Scientific Corporation, and Olympus Corporation have been leveraging organic and inorganic growth strategies like mergers, acquisitions, and product innovations to tap major market share.

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The recent approval of cutting-edge hybrid guidewires made from nickel, stainless steel, and titanium has also created lucrative opportunities for leading companies. Hybrid guidewires serve a comprehensive range of applications with numerous OD, tip shape, and length options.

Recently, Olympus Corporation launched UltraTrackHybrid guidewires to enable easy access and secure placement during the most challenging procedures. The product consolidated its portfolio and augmented their revenue generation. Such initiatives are likely to accelerate guidewires market growth over 2020-2026.

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