Urology Guidewires Market Growth and Forecast 2025
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Hybrid wires are used for coaxial placement of stents and sheaths. Flexible-tip PTFE guidewires are highly preferred in standard conditions as hydrophilic guidewires are expensive. The innovation of next generation hybrid guidewires will create a significant opportunity for the global urology guidewires market. In 2015, C. R. Bard, Inc., launched next generation hybrid guidewires known as “Bard® Solo™ Plus Hybrid Guidewires” which is intended for use in facilitating the placement of endourological instruments during diagnostic or interventional procedures.
Factors such as growing prevalence of urological disorders, increasing number of surgeries, government focus on providing better healthcare facilities, and rising per capita expenditure are factors which will drive the global urology guidewires market. According to American Cancer Society, about 79,030 new cases of bladder cancer has been estimated in the U.S., in 2017. Technological advancement and new product launch are other factors which will accelerate the urology guidewires market growth globally. In 2017, Cook Medical launched the Motion 2-in-1 hybrid wire guide which is designed for urology treatment procedures. The disadvantages of urology guidewires such as easy displacement of the product may hinder the growth of the urology guidewires market.
The urology guidewires market has been segmented based on product type, end users, and region. In terms of product type, the market has been classified into stainless steel coated guidewires and Nitinol coated guidewires. Nitinol coated guidewires are expected to grow at a higher rate due to unique characteristics and growing product demand globally. Based on end-user, the market has been classified into hospitals, specialty clinics, urology surgery centers, and ambulatory surgery centers.
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Geographically, the urology guidewires market has been segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
North America dominates the global urology guidewires market due to new product launches, advanced technology, and increasing geriatric population. According to World Health Organization, between 2015 and 2030, the number of people in the world aged 60 years or above is projected to grow by 56%, from 901 million to 1.4 billion. Europe is the second largest market for urology guidewires. The market in Asia Pacific is expected to grow at a higher rate due to increasing medical tourism, increasing healthcare expenditure, and developing healthcare infrastructure. Emerging regions such as Latin America, and Middle East & Africa will create ample opportunities in the global urology guidewires market due to increasing coverage of private as well as government insurance, growing awareness among people, and increasing investment by big players in this region.
Major players operating in the global urology guidewires market include Boston Scientific Corporation, Terumo Corporation, Cook Medical, Olympus America Inc., C. R. Bard, Inc., Teleflex Incorporated, and B. Braun Melsungen AG.
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