Guidewires Market Analysis, Top Drivers, Key Players, Segmentation And Forecast To 2033

The guidewires market size has grown strongly in recent years. It will grow from $2.4 billion in 2023 to $2.55 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to demand in developed healthcare markets, adoption of endoscopic procedures, evolving materials and coatings, increased focus on patient safety, development of specialty guidewires.

The guidewires market size is expected to see strong growth in the next few years. It will grow to $3.18 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to customization and specialty devices, focus on patient safety and efficacy, demand in emerging economies, rising prevalence of chronic diseases, growth in minimally invasive surgeries. Major trends in the forecast period include miniaturization of medical devices, increased demand for interventional procedures, expanding applications in cardiology, focus on enhanced durability.

Market Overview -
Guidewires refer to a thin wire that is used to understand the placement of a catheter during a medical procedure that is minimally invasive. Guidewires are used to enter the vascular systems while conducting minimally invasive procedures to access the desired part of the body.

Download Free Sample of Report -

https://www.thebusinessresearchcompany.com/sample.aspx?id=10623&type=smp

Surging Chronic Diseases Propel Guidewires Market
The rising number of chronic diseases is expected to propel the growth of the guidewires market going forward. 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. For instance, in January 2023, the National Center for Biotechnology Information, a US-based branch of the National Institutes of Health published a research paper that said the number of U.S. citizens above the age of 50 with chronic diseases is supposed to increase by approximately 99.5% from 71.52 million in 2020 to 142.66 million by 2050. Therefore, the rising number of chronic diseases will drive the guidewires market.

Competitive Landscape -
Major companies operating in the guidewires market report are Boston Scientific Corporation, Medtronic plc, Terumo Corporation, Cook Group Incorporated, Abbott Laboratories, Cardinal Health Inc., Stryker Corporation, Olympus Corporation, Johnson & Johnson, B. Braun Melsungen AG, Teleflex Incorporated, AngioDynamics Inc., C.R. Bard Inc., Merit Medical Systems Inc., Becton Dickinson and Company, Cordis Corporation, Asahi Intecc Co. Ltd., Advanced Cardiovascular Systems Inc., Biosensors International Group Ltd., Bracco Diagnostics Inc., BTG plc, Conmed Corporation, CryoCath Technologies Inc., Edwards Lifesciences Corporation, Interventional Spine, Intraluminal Therapeutics Inc., MicroPort Medical Systems Inc., NuVasive Inc., Penumbra Inc., Spectranetics Corporation, VasoNova Inc.

Technological Advancements For Transforming Guidewire Technology
Technological advancements adopted for guidewires are a key trend in the guidewires market. 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.

Browse Full Report @

https://www.thebusinessresearchcompany.com/report/guidewires-global-market-report

Key Segments -

The guidewires market covered in this report 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: Coronoary 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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Want To Know More About The Business Research Company?

The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.