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Global Guidewires Market 2023 | Share, Size, Growth Rate, Trends Analysis And Forecast To 2032
Guidewires Market Analysis
The Business Research Company's Guidewires Global Market Report 2023 identifies rising number of chronic diseases as the major driver for the guidewires market's growth in the forecast period. Chronic disease refers to a condition or disease that lasts for more than a year and requires ongoing medical treatments. Guidewires are used to assist in the treatment of heart disease which is a chronic disease by reaching the heart through the blood vessels. The guidewires market is expected to continue to grow in the coming years, driven by the increasing prevalence of chronic diseases and advancements in technology.
The global guidewires market size is expected to grow from $2.26 billion in 2022 to $2.40 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global guidewires market size is expected to reach $3 billion in 2027 at a CAGR of 5.6%.
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Major competitors in the guidewires market are Boston Scientific Corporation, Medtronic plc, Terumo Corporation, Cook Group, Abbott Laboratories, Cardinal Health, Stryker Corporation, Olympus Corporation.
A key trend in the guidewires market includes technological advancement. Major companies in the guidewires market have adopted a new and innovative guidewire with advanced technologies to sustain their position in the market. For instance, Merit Medical, a US-based medical device manufacturer and marketer, launched GO2WIRE Steerable Guide Wire System for peripheral diagnostic and interventional procedures. The guidewire uses Straight Linear Torque Steel Core Wire technology, a unique technology that has improved the instrument's response by 40% to meet specific anatomical needs. The distal tip of the GO2WIRE is reshapable allowing clinicians to tailor the wire tip to specific anatomical needs. The platinum-enhanced tip gives exceptional visibility during fluoroscopy.
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The guidewires market is segmented -
1) By Product: Interventional Guidewires, Diagnostic Guidewires
2) By Material: Nitinol, Stainless Steel, Hybrid, Other Materials
3) By Coating: Coated, Non-Coated
4) By Application: Coronary Guidewires, Peripheral Guidewires, Urology Guidewires, Radiology Guidewires, Neurovascular Guidewires, Gastroenterology Guidewires, Other Applications
5) By End-User: Hospitals, Ambulatory Surgical Centers, Research Laboratories, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the guidewires market.
The Business Research Company's "Global Guidewires Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Guidewires Market Include:
1. Executive Summary
2. Guidewires Market Characteristics
3. Guidewires Market Trends And Strategies
4. Guidewires Market - Macro Economic Scenario
5. Guidewires Market Size And Growth
…….
26. Africa Guidewires Market
27. Guidewires Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Guidewires Market
29. Guidewires Market Future Outlook and Potential Analysis
30. Appendix
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