Guidewires Market 2021 Business Overview and Development Strategies by 2029

The guidewires market is expected to grow with a CAGR of 5.0% during the forecast period.

Guidewires are devices specifically designed to help in navigation and placement to facilitate easier delivery at the treatment site. These wires have features such as pushability, steerability, torque, and opacity. Pushability is the amount of force needed to move the wire forward, whereas steerability is the wire tip's capacity and sensitivity to navigate inside the vessels. Torque is required while easily moving the vessel turnings. Its opacity is its level of visibility under fluoroscopic imaging, required to focus and advance inside the vessels.

While traditionally used in coronary procedures, the guidewire has become an essential part of a growing number of medical procedures, with its use steadily increasing and expanding into more and more medical specialties such as weight loss surgery. The use of this procedure has risen to about 113,000 cases per year. Thus, leading to the increased demand for guidewires, boosting the market growth.

The rising demand for advanced and minimally invasive technologies among elderly patients is also contributing to the growth of the market. The elderly population is more prone to diabetes, cardiovascular diseases (CVD), urological diseases, neurovascular disorders, etc. The aging population is projected to nearly double from 52 million in 2018 to 95 million by 2060. The 65-and-older age group's share of the total population will rise from 16% to 23% in the U.S., contributing as the prime factor for the guidewires market's growth.

The health of the growing aging population is a major concern in North Asian countries such as Japan, China, and Korea, which is expected to drive the region's market in the coming years. The key market players are tapping the market to cope with the increased demand for guidewires for various surgical procedures.

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The Major Players Covered in this Report:
Medtronic (Ireland)
Boston Scientific (U.S.)
Cook Group (U.S.)
Terumo Corporation (Japan)
Abbott Laboratories (U.S.)
Stryker Corporation (U.S.)
Cardinal Health (U.S.)
Olympus Corporation (Japan)
Johnson & Johnson (U.S.)
Braun Melsungen AG (Germany), & More...

By Product
Surgical Guidewires
Hydrophilic
Hydrophobic
Diagnostic Guidewires
Hydrophilic
Hydrophobic

By Material
Stainless Steel Guidewires
Nitinol Guidewires
Hybrid Guidewires

By Application
Cardiology
Vascular
Neurology
Urology
Others

By End-User
Hospitals
Diagnostic Centers
Surgical Centers
Ambulatory Care Centers (ACC)
Research Laboratories & Academic Institute

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Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Guidewires in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Guidewires market during the forecast period 2021-2029. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Guidewires and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Guidewires. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

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The report covers exhaustive analysis on:
Overview of the parent market
Global Guidewires Market Segments, Dynamics, Market Size, Share, Price, Volume, and Cost
Historical, current and projected market size in terms of volume and value
Global Guidewires Market Forecast 2021 to 2029
Supply & Demand Value Chain
Global Guidewires Market dynamics, including the current trends/drivers/threats/restraints/challenges
Potential and niche segments/regions exhibiting promising growth
Market landscape, competition, and leading companies involved
Strategies of leading companies and product offerings
Technological advancements

Key questions answered in this report:
What will be the market size by the end of the forecast period?
What are the factors driving the growth of the market?
What are the trends and developments that are likely to drive the growth of the market?
Who are the key players operating in the market?
What are the challenges, threats, and opportunities faced by the leading players?
What are the strengths and weaknesses of the key players of the market?

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This release was published on openPR.