Global Guidewires Market Size, Share & Trends Analysis Report By Type (Traditional Guidewires, Hydrophilic Guidewires, Drug-Coated Guidewires, Bioengineered Guidewires), By Material (Stainless Steel Guidewires, Nitinol Guidewires), By Application (Cardiovascular, Neurovascular, Peripheral Vascular, Urology, Gastrointestinal), By End-User (Hospitals, Ambulatory Surgical Centres (ASCs), Clinics) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America) | Forecast [2024-2032]

The report offers the value (in USD Billion) for the above segments.

Region: Global | Format: Word, PPT, Excel | Report Status: Published

 

Guidewires Market Overview

According to a new report by IMIR Market Research on Global Guidewires Market size was valued at USD 1.3 Billion in 2023 and is poised to grow from USD xxx Billion in 2024 to USD 1.69 Billion by 2032, growing at a CAGR of 3% in the forecast period (2024-2032).

 

In the context of the present report, the guidewires market stands for the global industry concerned with the production, distribution, and use of guidewires, the thin, flexible wires designed to be guided through anatomical structures in the course of minimally invasive medical procedures. These wires play a crucial role in guiding larger devices such as catheters, stents, or balloons to particular treatment sites inside the human body.

Growth in the industry of guidewires is generally attributed to urological disorders, peripheral artery disease (PAD), and cardiovascular diseases (CVD). For example, the PCR online states that the main cause of death for women and men alike are CVD. In 2023, the world has a population of 8.0 billion, where 620.0 million individuals are suffering from heart and circulatory diseases. Around 60.0 million people globally suffer from heart or circulatory diseases every year.

angina pectoris, one of the most common causes of morbidity and mortality around the world, is a serious condition that many people suffer from. For example, the National Library of Medicine states that, in 2024, angina pectoris prevalence globally was between around 2.0% and 7.0%. More than 2,806,000 cases of angina pectoris were also reported in China in 2023. There is a proof that angina doubles the risk of major cardiovascular events. In the present scenario, CAD contributes to 4.1 million deaths in Europe every year. Among these, 82.0% are people above 65 years. The increasing number of minimally invasive surgeries is the main factors driving the guidewires market.

For example, according to the February 2022 NCBI published study, a total of approximately 57.0% patient’s selected minimally invasive treatment decided to do it because healthcare workers who recommended and supported this mode of treatment considered this treatment useful for them. Both healthcare practitioners and patients appear to be increasingly biased towards non-invasive modalities than those of conventional method. Hence, an increase in the adoption of minimally invasive procedures may positively influence market growth. Moreover, the Far North Surgery report released in March 2024 suggests that the demand for minimally invasive procedures will continue to grow substantially and may reach more than 44.0 billion by the year 2030, showing a trend of less invasive medical interventions in the coming years. One of the most significant factors for increasing the use of guide wire is technological advancement.

The advanced guidewires can be tailored according to the need and can be used from a distance. This, in turn, increases the success rate of the procedures, which ultimately increases the overall adoption rate of minimally invasive surgeries. These guidewires, along with imaging modalities and surgical robots, have limitless applications in the modern practice of surgery. For example, in April 2024, Teleflex Incorporated launched the Wattson Temporary Pacing Guide wire, designed uniquely for use in Balloon Aortic Valvuloplasty (BAV) and Trans catheter aortic valve replacement (TAVR). The guide wire has the features of supporting valve delivery, dual functionality, and ventricular bipolar pacing. It is expected to streamline procedural efficiencies and reduce complications as compared with traditional methods. Additionally, the current studies are in progression, which contribute to market growth.

For example, in April 2022, MicroVention, Inc., a subsidiary of Terumo Corporation, completed the first enrolment in a multicentre, prospective EU observational study called STRAIT (Safety and Efficacy Study of the Traxcess EX Guidewire and Other Vascular Devices in the Treatment of Intracranial Aneurysms), to evaluate the safety and efficacy of the Traxcess EX Guidewire and other vascular devices in the treatment of intracranial aneurysms. The rising geriatric population further accelerates the market growth.

For example, according to WHO, by 2030, 1 in 6 people would be 60 years of age or older. The same demographic will double by 2050. Furthermore, diseases are much more prevalent among elderly people. Such diseases include cardiovascular disease, ischemic heart disease, vascular dementia, and multiple sclerosis, to name a few. According to the National Centre for Health Statistics, in 2020, 6.3% of adults aged 18 years and over had diagnosed heart disease in the U.S. This estimate is based on household interviews of a sample of the civilian, no institutionalized U.S. population.

 

Market Drivers

Growing Adoption of Minimally Invasive Procedures

  • The demand for less invasive surgical procedures is growing significantly. This is the highest market driver for guidewires mainly because these procedures benefit both patients and healthcare providers. Minimally invasive surgeries, such as catheter-based interventions, allow surgeons to offer these treatments to patients with small incisions or no incisions at all, cutting recovery time drastically. The advantage here is that these patients will go back to their normal activities relatively much faster compared to the open type of surgery that usually has long hospital stay and recovery time. In addition, there will be reduced complications such as infection and massive bleed since there will be minimal traumas for the body, enhancing patient safety in addition to positive outcomes overall since the likelihood of postoperative complications is low. As such, the increased demand for guidewires—a critical resource for navigating body vessels and cavities in these procedures—has been observed. All the advantages have further ensured the maximum utilisation of this type of surgical procedure that encompasses cardiology, urology, neurovascular interventions thus contributing to demand increase for a guide wire product on a worldwide level.

 

Market Opportunities

Development of Hybrid and Specialized Guidewires

  • Increased upsurge demand for guidewires that suit particular medical conditions, such as bioengineered or drug-coated guidewires, thus reflecting the stage of evolution to which modern medication is being given. Medicine will now be going very specialized: it will cause a greater urge for guidewires that aim to cater more towards specific health conditions and patients. For example, bioengineered guidewires are engineered to be compatible with the body, thus minimizing the risks of complications and enhancing the success rates of interventions. Biocompatible material-coated guidewires minimize tissue damage and inflammation. The drug-coated guidewires are engineered to provide direct delivery of therapeutic agents during the procedure at the targeted area. This would allow for dual benefits of guiding medical devices while providing localized treatment. With the advancement in guidewires, precision and targeted therapy is absolutely critical during complex interventions such as coronary angioplasty or neurovascular procedures. The growth of healthcare toward a completely personalized and precision medicine-driven field would ensure that many guidewire innovations take place and open new routes toward a further increase in the market.

 

Market Restraining Factors

High Cost of Advanced Guidewires

  • Another massive barrier to adoption of guidewires in markets sensitive to costs is the premium pricing for technologically advanced guidewires. Advanced bioengineering or drug-coated guidewires can deliver better performance, higher safety, and superior patient outcomes. Such guidewires, however, are priced more, a major barrier to their adoption in the budgetary-strained health systems of other regions. Advanced guidewires, which are usually costly, would be a deterrent for adoption in regions where health care funding is low or reimbursement claims are not reimbursed at the same higher rates. This may lead health care institutions in such regions to focus on more cost-effective and standard guidewires to cut down and maintain expenses, limiting the market prospects for premium products. In addition, the patients from low-income countries or those that don't support full insurance will fail to access advanced treatments in the first place and hence prevent the total number of guidewires being absorbed. This brings manufacturers to meet demand through balancing the potential of advanced technology with possible pricing strategies and developing low-priced alternatives to support large adoption in different markets.

 

Segmentation Analysis

The market scope is segmented because of by Type, by Material, by Application, by End-User, by Region.

By Type

Based on the Type of the market is segmented into Traditional Guidewires, Hydrophilic Guidewires, Drug-Coated Guidewires, Bioengineered Guidewires.

Traditional Guidewires, which is in the leading edge of the market due to broad usage, and cost-effectiveness, and an overall flexibility and applicability towards a wide spectrum of medical treatments. These are typically made out of stainless steel or nitinol, ensuring the strength and flexibility along with durability to get introduced into blood vessels. There is widespread applicability in relatively simple cardiovascular, peripheral, and urological applications where there is no significant need for high-end design or features of the device.

Hydrophilic guidewires have a hydrophilic coating that turns slippery when it gets wet. It is more accessible to be passed through delicate or challenging areas, such as the heart or brain. The guidewires are very helpful in neurovascular interventions, for example, in the management of stroke, where precise control is essential.

Drug-coated guidewires can administer drugs right to the location of the problem at the time of the intervention and are utilized primarily in the intervention of coronary angioplasty or neurovascular. An example would be drug-coated coronary guidewire applied to coronary arteries in which drugs used prevent re-stenosis or re- blockage of vessels.

Finally, Bioengineered Guidewires are made from high-end biocompatible materials. This helps ensure better interaction with the body, thus lowering the risk of adverse reactions. It is mainly applied in very sensitive procedures such as complex heart or brain surgeries. All these advancements are bringing accuracy and effectiveness in medical interventions to a higher level.

By Application

Based on the Application of the market is segmented into Cardiovascular, Neurovascular, Peripheral Vascular, Urology, Gastrointestinal.

The cardiovascular application segment accounts for the majority share in the guidewires market due to a large number of coronary interventions such as angioplasty, stent placement, and coronary artery bypass surgeries. Guidewires are the only tool to facilitate navigation of complex coronary arteries in order to reach a targeted site for medical devices delivery. The coronary guidewire is one such commonly used guidewire that supports positioning stents in an angioplasty procedure for blockages in heart arteries.

Neurovascular applications are highly in demand with the increasing number of stroke and other brain-related disorders. In neurovascular interventions, guidewires are employed to navigate the brain's intricate vasculature for interventions such as clot retrieval and stent placement. For instance, hydrophilic guidewires are used in stroke management where precise navigation through the blood vessels of the brain is critical.

In Peripheral Vascular, guidewires are used for treatments such as PAD or balloon angioplasty. These guidewires help doctors access the peripheral blood vessels to deliver their treatment.

In Urology, the guidewires are applied for kidney stone removal, catheter placement, and urethral stenting. A good example is the urological guidewire that is applied in nephrostomy tubes for the insertion in treating kidney conditions. Endoscopic procedures use guidewires to perform gastrointestinal applications. These procedures assist in unblocking the gastrointestinal tract or the placing of stents.

Regional Snapshots

North America dominates the market as it has an uninterrupted health care structure, high health care expenditure, and practice of minimally invasive surgeries. Among all the markets, the United States dominated the market. The reasons are raising cases of cardiovascular diseases, a greater demand for precise surgical interventions, and major medical device manufacturers are located in the region. Other technologies that have contributed to its dominance include favourable regulatory conditions towards innovation in guidewires. Also, the Europe guidewires market is rapidly rising with Germany, France, and the United Kingdom on the high list. Among the most vital factors contributing to its growth in Europe is its aged population. Since the geriatric population is more prone to chronic diseases like cardiovascular, these patients require a higher number of interventions. Moreover, better medical technologies and a higher expenditure on healthcare services are increasing the utilization of advanced guidewire solutions.

The Asia-Pacific region is one of the strongest growth drivers of the guidewires market. The development pace of the region's healthcare infrastructure and growing disposable income along with an increased number of surgical procedures contribute to it.

The region is witnessing an increased demand for high-end medical devices due to improved access to health services and treatment in countries such as China, India, and Japan. Improved government health care facilities in the region, accelerating the prevalence of lifestyle diseases, further accelerate the growth of the region. Latin America and Middle East & Africa are emerging guidewires markets, primarily driven by improvements in healthcare infrastructure and growing awareness about the advantages of minimally invasive surgeries. Cost constraints and diverse health standards, however, are expected to challenge these regions and limit market potential in some geography.

 

List of Companies Profiled
  • Boston Scientific Corporation
  • Medtronic
  • Cook
  • Braun
  • Terumo Medical Corporation
  • Abbott
  • Stryker
  • Teleflex Incorporated
  • BD

 

Report Coverage

The report will cover the qualitative and quantitative data on the Global Guidewires Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

 

Report Scope and Segmentations

Study Period

2024-32

Base Year

2023

Estimated Forecast Year

2024-32

Growth Rate

CAGR of 3% from 2024 to 2032

Segmentation

By Type, By Material, By Application, By End-User, By Region

Unit

USD Billion

By Type

  • Traditional Guidewires
  • Hydrophilic Guidewires
  • Drug-Coated Guidewires
  • Bioengineered Guidewires

By Material

  • Stainless Steel Guidewires
  • Nitinol Guidewires

By Application

  • Cardiovascular
  • Neurovascular
  • Peripheral Vascular
  • Urology
  • Gastrointestinal

By End-User

  • Hospitals
  • Ambulatory Surgical Centres (ASCs)
  • Clinics

By Region

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, France, UK, Italy, Spain, Russia, Rest of Europe)
  • Asia-Pacific (China, India, Japan, ASEAN, Rest of Asia-Pacific)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • MEA (Saudi Arabia, South Africa, UAE, Rest Of MEA)

 

Global Guidewires Market Regional Analysis

North America accounted for the highest xx% market share in terms of revenue in the Guidewires market and is expected to expand at a CAGR of xx% during the forecast period. This growth can be attributed to the growing adoption of Guidewires. The market in APAC is expected to witness significant growth and is expected to register a CAGR of xx% over upcoming years, because of the presence of key Guidewires companies in economies such as Japan and China.

The objective of the report is to present comprehensive analysis of Global Guidewires Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.

Guidewires Market Report is also available for below Regions and Country Please Ask for that

North America

  • U.S
  • Canada

Europe

  • Switzerland
  • Belgium
  • Germany
  • France
  • U.K
  • Italy
  • Spain
  • Sweden
  • Netherland
  • Turkey
  • Rest of Europe

Asia-Pacific

  • India
  • Australia
  • Philippines
  • Singapore
  • South Korea
  • Japan
  • China
  • Malaysia
  • Thailand
  • Indonesia
  • Rest Of APAC

Latin America

  • Mexico
  • Argentina
  • Peru
  • Colombia
  • Brazil
  • Rest of South America

Middle East and Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest Of MEA

 

Points Covered in the Report
  • The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
  • The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 5 years data history and forecast.
  • The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
  • Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
  • The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

 

Key Questions
  • How much the global Guidewires Market valued?
  • Which region has the largest share in 2024 for the global Guidewires Market?
  • What are the driving factors for the market?
  • Which is the leading segment in the global market?
  • What are the major players in the market?

 

Research Scope of Guidewires Market
  • Historic year: 2019- 2022
  • Base year: 2023
  • Forecast: 2024 to 2032
  • Representation of Market revenue in USD Billion

Guidewires Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends:

Frequently Asked Questions

  • PUBLISHED ON : January, 2024
  • BASE YEAR : 2023
  • STUDY PERIOD : 2020-2032
  • COMPANIES COVERED : 20
  • COUNTRIES COVERED : 25
  • NO OF PAGES : 380

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