Press release
Guidewires Market - Latest Advancements & Market Outlook 2017 to 2025
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Extensive use of guidewires in surgical interventions is expected to fuel the growth of guidewires market
According to the Journal of American College of Cardiology, an estimated 422.7 million prevalent cases of cardiovascular diseases were recorded globally in 2015, with 8.9 million deaths observed due to Ischemic Heart Disease (IHD). The higher occurrence of cardiovascular diseases is attributed to the shift in lifestyle habits including dietary irregularities and smoking which results in growing incidences of obesity, thus resulting in the global guidewires market demand. Also, the demand for guidewires is increasing by the rise in patient awareness about the advantages of minimally invasive procedures like decreased traumatic surgical experience, faster recovery, fewer post-surgery complications, reduced incision wounds and higher patient satisfaction. Additionally, growing acceptance of guidewires among medical practitioners, rising research and development investments and surging number of market entrants are the factors propelling guidewires market. Growing use of guidewires for diagnostic and interventional purposes of cardiological diseases is expected to stimulate guidewires market over the forecast period.
Coronary guidewires are largely used guidewires owing to the high volumes of minimally invasive coronary procedures
The global guidewires market is segmented on the basis of product type, application, end user and geography.
On the basis of product type, the global guidewires market is segmented into:
Stainless Steel Guidewires
Nitinol Guidewires
Hybrid Guidewires
On the basis of application, the global guidewires market is segmented into
Interventional cardiology
Infusion therapy
Vascular access
Interventional neuroradiology
Endourology
Gastroenterology
On the basis of end user, the global guidewires market is segmented into:
Hospitals
Ambulatory Surgical Centers
Others
The rise of peripheral vascular diseases fuels the guidewires market in Asia Pacific
Regional segmentation of the global guidewires market by Coherent Market Insights comprises North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa. According to Centre for Disease Control and Prevention in 2016, approximately 8.5 million people in the U.S. have peripheral artery disease and is expected to reach 19 million by 2050. Thus, North America holds a dominant position in the global guidewires market. The major driving factors for the growth of the guidewires market in North America, include rise in lifestyle diseases such as heart attack, strokes, myocardial infarction, ischemic stroke, atherosclerosis and neuro vascular diseases. Asia Pacific market is developing at a rapid rate owing to economic development, improving healthcare amenities and government initiatives in the emerging economies. Also, a large group of patients suffering from peripheral vascular diseases leads to an increase in the endovascular procedures in densely populated countries of India and China.
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Rapid technological advancements like navigation with a magnetic guidewire is expected to created immense growth opportunities for industry participants
Key players operating the guidewires market are Boston Scientific Corporation, ASAHI INTECC Inc., Cordis Corporation and C.R. Bard. The launch of Glidewire product by Terumo is rapidly gaining popularity in the global market owing to its higher efficiency in vascular access and coronary intervention procedures. Other leading vendors have adopted technological innovation and advancements for manufacturing novel guidewires in terms of flexibility, construction and tip retention are Terumo Corporation, Medtronic Inc., Abbott Laboratories, Covidienplc, Braun Melsungen and Cook Medical.
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