Demand For Guidewires Is Projected To Grow At A CAGR Of 6.1% By 2033

The demand for guidewires is projected to grow at a CAGR of 6.1% during the forecast period (2023-2032). The global guidewires market size is projected to surpass US$ 1,755 Mn by the end of 2033, up from US$ 968 Mn in 2023.

During the forecast period, the COVID-19 pandemic is expected to have a moderate impact on guidewire production. This is due to key companies implementing stringent countermeasures to limit face-to-face contact, investing a significant portion of their revenue in developing testing mechanisms and antiviral drugs, and shifting shift times.

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China to Emerge as a Region with High Growth Potential in Guidewires Market

China is expected to emerge as a region with high growth potential in the global guidewires market. This is attributed to the increasing number of hospitals and healthcare centers in the country, along with the rising demand for minimally invasive surgeries. Moreover, the growing awareness about the benefits of guidewires and their increasing adoption by healthcare professionals are also expected to drive the market growth in China. Furthermore, the presence of major players such as Terumo Corporation, Boston Scientific Corporation, and Abbott Laboratories in China is likely to further fuel market growth.

Key insights from the global Guidewires market study:

• By product, the coronary guidewires segment is set to capture a large chunk of the global guidewires market. Rising levels of cardiovascular disease, ease of navigation through blood vessels, and faster delivery of treatments are key growth drivers. A CAGR of 6.6% is forecast for the forecast period.
• However, urological guidewires will grow the fastest at a CAGR of 7.0%. The increasing prevalence of urological dysfunction has facilitated the increased use of urological guidewires. These guidewires offer an atraumatic hydrophilic tip that facilitates passage through tight areas. The segment is expected to take 15% of the total guide wire market.
• Due to the expansion of hospital infrastructure, the introduction of hygiene practices and the presence of qualified surgical personnel, hospitals are expected to capture a significant market share in end use. The projected market share of hospitals accounts for two-fifths of the total guidewire market.
• North America is projected to retain the market dominance, growing by 1.5x over the forecast period. Sophisticated healthcare infrastructure and the presence of key guidewire manufacturers are expected to drive growth in North America.
• Asia Pacific is expected to grow rapidly, registering a CAGR of 7.2%. Increasing incidence of health diseases, favorable business policies and economic development have motivated key players to set up their businesses in these countries. Consumer demand for high quality guide wire brands is strong.

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Global Guidewires: Market Segmentation

Fact.MR has studied the global Guidewires market with detailed segmentation by product, end-user, and key regions.

product

• Coronary guide wires
• Peripheral guidewires
• Neurovascular Guidewires
• Urological Guide Wires
• Radiological guide wires
• Gastroenterological guidewires
• Other Guidewires (Otolarynology & Oncology)

end user

• hospitals
• clinics
• Ambulatory Surgical Centers
• diagnostic centers

key regions

• North America
• Europe
• Asia Pacific
• Eastern Europe
• Latin America
• Middle East & Africa (MEA)

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Key Companies Profiled

• Boston Scientific Corporation
• Terumo Corporation
• Cardinal Health Inc.

Table of Content

1. Preface

1.1. Report Scope and Market Segmentation

1.2. Research Highlights

2. Assumptions and Research Methodology

2.1. Assumptions and Acronyms Used

2.2. Research Methodology

3. Executive Summary

3.1. Global Guidewires Market Size (US$ Mn) and Forecast, by Region, 2023 and 2033

3.2. Global Guidewires Market: Market Snapshot

4. Market Overview

4.1. Global Guidewires Market Overview

4.2. Global Guidewires Market Key Industry Developments

5. Market Dynamics

5.1. Drivers and Restraints Snapshot Analysis

5.2. Drivers

5.3. Restraints

5.4. Opportunities

5.5. Key Trends

5.6. Global Guidewires Market Revenue Projections (US$ Mn), 2023-2033

5.7. Guidewires Market: Mergers & Acquisitions

5.8. Ker Arterial Diseases: Epidemiology

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