LONDON, Dec. 10, 2019 /PRNewswire/ -- Analysis by Material (Nitinol, Stainless Steel, Hybrid), Product (Surgical, Diagnostic (Hydrophilic, Hydrophobic)), Application (Cardiology, Vascular, Neurology, GIT, ENT, Urology, Oncology), End User (Hospital, ASCs), Global Opportunity Analysis by Country and Industry Forecast
Market Definition: • Guidewires are flexible tubes used to guide a catheter to a diseased artery in the heart. • They are used for the diagnosis of cardiovascular diseases. It will face huge demand due to the recent trend of minimally invasive procedures. • Guide wires are designed to navigate vessels to reach a lesion or vessel segment. Once the tip of the device arrives at its destination, it acts as a guide that larger catheters can rapidly follow for easier delivery to the treatment site.
Market Overview and Trends • Rising preference for minimally invasive surgical procedures owing to advantages such as smaller incisions, faster recovery time, and reduced pain is boosting the growth of the guidewires market in the upcoming years. • Increasing demand for interventional procedures in developing countries and technologically advanced and innovative guidewires are the prominent trends observed in the guidewires market. • Increasing number of coronary procedures are expected to spur the demand of guidewire market in the forecast year.
Market Dynamics: Factors Influencing the Market Growth: • Rise in geriatric population prone to various chronic diseases such as cardiovascular diseases, urological diseases, and neurovascular disorders, are the key factors to drive the guidewire market. • Prevalence of cardiovascular diseases increases with age and is expected to boost the demand for guidewires in surgical interventions. Factors Restraining the Market Growth: • High cost of surgical guidewires is likely to limit the growth of guidewire market.
Market Segmentation 2019-2029: The guidewire market is segmented on the product type, material, application, end user, and geography
1. Guidewire Market, By Material a. Nitinol Guidewires b. Stainless Steel Guidewires c. Hybrid Guidewires
2. Guidewire Market, By Product a. Surgical Guidewires b. Hydrophilic Surgical Guidewires c. Hydrophobic Surgical Guidewires d. Diagnostic Guidewires e. Hydrophilic Diagnostic Guidewires f. Hydrophobic Diagnostic Guidewires
3. Guidewire Market, By Application a. Cardiology Applications b. Vascular Applications c. Neurology Applications d. Urology Applications e. Gastroenterology Applications f. Oncology Applications g. Otolaryngology Applications
4. Guidewires Market, By End User a. Hospitals, Diagnostic Centers, and Surgical Centers b. Ambulatory Care Centers (ACC) c. Research Laboratories & Academic Institutes
5. Guidewires Market, By Region 5.1 Introduction 5.2 North America 5.2.1 US 5.2.2 Canada 5.3 Europe 5.3.1 Germany 5.3.2 UK 5.3.3 France 5.3.4 Rest of Europe 5.4 Asia Pacific 5.4.1 Japan 5.4.2 China 5.4.3 India 5.4.4 Rest of Asia Pacific 5.5 Rest of the World (RoW)
Competitive Analysis: • Research and development is the primary strategy adopted by the key players in the Guidewire market. • These companies have developed various strategies and developments such as product launch, partnerships, mergers & acquisitions, joint venture, and collaborations.
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Companies covered in the report include:
Abbott Laboratories Angiodynamics Asahi Intecc B. Braun B.Braun Boston Scientific C.R. Bard Cardinal Health Conmed Corporation Cook Group Cook Medical Entellus Medical Johnson & Johnson Medtronic Merit Medical System Olympus Corporation SP Medical A/S Stryker Corporation Teleflex Terumo Corporation