LOS ANGELES, TOKYO and HAMBURG, Germany, June 12, 2019 /PRNewswire/ -- The global peripheral guidewire market was worth US$472 mn in 2018 and the report suggests that the market will reach US$898 mn by 2025, surging at a robust CAGR of 9.5%. Peripheral guidewires are minimally invasive medical devices, which have are extensively used in surgeries to access the peripheral vessels for precise interventional procedures. QY Research analysts have published a detailed report of the market, titled "Global Peripheral Guidewire Market Research Report 2019". The report provides a detailed understanding of the evolving market dynamics that are expected to define the trajectory of the market over the forecast period.
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Global Peripheral Guidewire Market: Drivers
The increasing demand for minimally invasive surgeries is a driving factor for the global peripheral guidewire market. The steady rise in geriatric population is likely to support the growth of global demand for peripheral guidewires. The identification of complicated diseases related to urology, neurology, and cardiovascular are also likely to augment the growth of peripheral guidewire market. The complex procedures that can lead to excessive bleeding are expected to show preference for peripheral guidewires.
Furthermore, advantages such as lesser infection possibilities, fewer complications, shorter hospital stay, and early recovery are expected to bode well for the market. Advancements in medical technology have enabled manufacturers to offer customized guidewires based on the needs and applications, which is increasing the adoption rate of guidewires among the medical professionals.
Global Peripheral Guidewire Market: Segment Analysis
The global peripheral guidewire market is segmented on the basis of type and application. In terms of type, the market is segmented into straight guide wire, angled guide wire, and j-shape guide wire. In terms of application, the market is segmented as interventional and diagnostics. The market is dominated by the diagnostics segment, reports study.
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Global Peripheral Guidewire Market: Regional Analysis
On the basis of region, the global peripheral guidewire market is segmented into Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. North America and Europe have a strong presence in the global market as healthcare industry is quick to adopt technological advancements. Asia Pacific is also showing significant growth in the global peripheral guidewire market due to constant improvement in medical and technological advancements.
Global Peripheral Guidewire Market: The Key Players
The key players studied in the global peripheral guidewire market are Abbott Vascular, Terumo Medical, Asahi Intecc, Cook Medical, Boston Scientific Corporation, Medtronic, Integer, Merit, TE Connectivity, Epflex, Biotronik, and SP Medical. Quality is the last word for any medical equipment and the target of the global leaders is to provide the best from the rest. In this context, Integer is a company that needs special mention for providing a wide range of models and configurations in the peripheral guidewire. The materials of this company are known to achieve optimal product performance.
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