Global Guidewires Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Syringe Size (Solid Steel, Nitinol Core Wire), By Application (Urological, Cardiovascular, Neurology, Gynaecology, Others), By End-User (Hospitals And Clinics, Diagnostic Centers, Ambulatory Surgical Centers), And By Geography - Forecasts From 2021 To 2026

The global guidewires market is projected to grow at a CAGR of 4.19% to reach US$1,364.458 million by 2026 from US$1,023.557 million in 2019. 

Guidewires are flexible thin tubes or wires used for guiding the placement of catheters in the diseased organ. They are used for interventional therapy by opening up the target vessels to improve device delivery and restrict vascular injuries. The wires are generally made from stainless steel and are reusable in nature. The rise in the global guidewires market is attributed to rapid growth in interventional procedures using guidewires for device delivery. The biomechanical properties of the guidewires will also contribute to their robust growth during the forecast period. For instance, variety in the specifications of the guidewires and tip shapes makes it easy for the healthcare professionals to choose the right tool for the procedures, thus, making it an indispensable part of interventional procedures. A rise in patient awareness about the advantages of minimally invasive procedures such as smaller incisions, faster recovery time, and reduced pain will further boost the market.

In addition, the increase in geriatric population, worldwide will augment the market growth. . According to the World Bank, in 2019, the geriatric population was 703 million persons, nationwide, which is expected to increase in the next few years, which in turn will contribute to the market growth of the global guidewires market as the geriatric population is more prone to chronic diseases like cardiovascular, urological, and neurovascular diseases which will increase the demand for guidewires in the market. 

In addition, the unhealthy lifestyle of the population such as lack of physical activities, substance abuse, high intake of saturated fats and sugar is increasing owing to which chronic diseases such as obesity, diabetes, cardiovascular diseases, etc. are on an all-time high which may lead to surgical interventions.

According to the CDC, the obesity prevalence in the United States was 42.4% in the year 2017-2018. Also, according to the International Diabetes Federation, 2019, approximately 463 million adults (20-79 years) were living with diabetes, the number is expected to rise to 700 million by 2045. The increasing prevalence of obesity and diabetes in the adult population will further drive the market growth during the forecast period. Furthermore, technological advancements will lead to increased adoption of guidewires in the market.

Market Share Segmentation.

By application, the Cardiovascular segment is expected to hold a dominant market share owing to the increasing adoption of guidewires among cardiologists due to the procedural and technical benefits offered by nitinol materials used for manufacturing cardiology guidewires such as biocompatibility, recovering elongation, resistivity, and steerability, By end-user, the hospital's segment is estimated to hold a significant market share due to the increasing incidence of chronic diseases, and the ongoing technological advancements in minimally invasive surgeries. Geographically, the North American region is projected to hold the largest share due to the increasing geriatric population, growing prevalence of lifestyle diseases, favorable reimbursement policies, and the increasing patient preference for minimally invasive surgical procedures. Asia Pacific region is expected to grow at a high CAGR owing to the region’s expanding medical tourism industry, increasing prevalence of chronic diseases, and favorable reimbursement policies.

Growth Factors.

• Increasing adoption of minimally invasive surgical procedures.

Minimally invasive surgical procedures offer several clinical advantages over conventional open procedures, such as shorter hospital stays, faster patient recovery, higher procedural safety & and efficacy, greater affordability, etc. owing to which they are becoming highly popular, globally. The minimally invasive surgical procedures are preferred both by medical professionals as well as patients due to the advantages associated with them, which will drive the market growth.

Increasing incidence of cardiovascular diseases in people.

The number of patients suffering from cardiovascular diseases (CVD) across the globe has been on a constant rise. The constant increase in the numbers is likely to increase the demand for surgeries, which in turn, will propel the demand for guidewires in the market. According to the American Heart Association, in the United States in 2019, coronary events are expected to occur in about 1,055,000 individuals, including 720,000 new and 335,000 recurrent coronary events. The increasing incidence of cardiovascular diseases in people is driving the growth of the market during the forecast period as it will subsequently proliferate the demand for guidewires during the forecast period.

COVID–19 Impact On Global Guidewires Market

The Covid-19 pandemic negatively impacted the Global guidewires market, as due to the lockdown and travel and trade restrictions imposed by the governments, worldwide many patients deferred their ongoing treatments and postponed their surgeries to avoid public places which hampered the market growth as the number of elective surgeries being conducted witnessed a decline. According to an Ophthalmology Times article, the number of elective surgeries being performed in the United States reduced from 200 surgeries to only 10 surgeries a week, which limited the market growth. However, the patients who required surgeries on an urgent basis did go forward with it which stabilized the market growth.

Competitive Insights.

The market leaders for the Global Guidewires market consist of Boston Scientific Corporation, Terumo Interventional Systems, Medtronic, PLC, Abbott Laboratories, UROMED Kurt Drews KG, GaltNeedleTech, Olympus Corporation, Teleflex Incorporated, Cordis (A Cardinal Health Company), and Stryker Corporation. The key players in the market implement growth strategies such as product launches, mergers, and acquisitions, etc. to gain a competitive advantage over their competitors. For instance, in June 2021, Boston Scientific Corporation, acquired the shares of Farapulse, Inc. to complement the existing Boston Scientific electrophysiology portfolio and to include the FARAPULSE Pulsed Field Ablation (PFA) System – a non-thermal ablation system for the treatment of atrial fibrillation (AF) and other cardiac arrhythmias. In 2017, Terumo Interventional Systems established a new manufacturing facility in Yamaguchi, Japan to strengthen the production capacity of access guidewires used in interventional procedures.

Global Guidewires Market Scope:

Segmentation:

• By Syringe Size
  • Solid steel 
  • Nitinol core wire
• By Application
  •  Urological
  • Cardiovascular
  • Neurology
  • Gynaecology
  • Others
• By End-User
  •  Hospitals and Clinics
  • Diagnostic Centers
  • Ambulatory Surgical Centers
• By Geography
  • North America
    • USA
    • Canadá
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • Indonesia
    • Taiwan
    • Thailand
    • Others

Frequently Asked Questions (FAQs)

Q1. What will be the guidewires market size by 2026?
A1. The global guidewires market is projected to reach a market size of US$1,364.458 million in 2026.

Q2. What is the size of global guidewires market?
A2. Guidewires Market was valued at US$1,023.557 million in 2019.

Q3. What are the growth prospects for the guidewires market?
A3. The guidewires market is projected to grow at a CAGR of 4.19% over the forecast period.

Q4. Which region holds the maximum market share of the guidewires market?
A4. Geographically, the North American region is projected to hold the largest share of the guidewires market due to the increasing geriatric population, growing prevalence of lifestyle diseases, favorable reimbursement policies, and the increasing patient preference for minimally invasive surgical procedures.

Q5. What factors are anticipated to drive the guidewires market growth?
A5. The rise in the global guidewires market is attributed to rapid growth in interventional procedures using guidewires for device delivery.