Therapeutic Medical Guide Wire: Growing Preference Towards Minimally Invasive Surgical Procedures Likely to Boost The Market Growth at a Strong CAGR of 5.7% During The Forecast Period 2022-2030

Pune, India, May, 2023 /MRFR Press Release/- Market Research Future has a cooked research report on the therapeutic medical guide wire market.

Therapeutic Medical Guide Wire Market Highlights

It is estimated that therapeutic medical guide wire market is expected to grow at a CAGR 5.7% during the forecast period 2022-2030 is expected to reach USD 2918.93 Million by 2030.

Guide wire is a simple spring type wire that provides firmness and control to the site where angiogram is taken. The main function of guide wire is to guide the catheter for placement. This medical device is usually made up of stainless steel, but are also available in the form of metallic alloys. Majorly, there are two type of guide wires, i.e. solid guide wire, and wrapped guide wire. Both the types has one end rigid and other end flexible. The flexible tip enters the blood vessel first to prevent damage to the vessel. The most prominent advantage of using solid guide wire is that it reduces the chances of catheter tip flaring, and abrasion of the vessel.

Rising prevalence of chronic disorders, technological advancements in medical guide wire, growing preference towards minimally invasive surgical procedures, and growing geriatric population are promoting the fuelling the growth of therapeutic medical guide wire market globally

However, lack of skilled physicians, and medical guide wire related health problems may hinder the growth of market to an extent.

Taste the market data and market information presented through more than 296 market data tables and figures spread over 114 pages of the project report. Avail the in-depth table of content TOC & market synopsis on “therapeutic medical guide wire market research report–Global forecast till 2030.” 

Major Key Players in Global Therapeutic Medical Guide Wire Market

Some of key the players in the market are Cordis (Cardinal Health), Biotronik, SP Medical A S, Infiniti Medical, Acme Monaco, Abbott Laboratories, Boston Scientific Corporation, Medtronic plc, Terumo Medical Corporation, Cook Medical, and others.

The global therapeutic medical guide wire market consists of four regions: the Americas, Europe, Asia Pacific, and the Middle East & Africa.

The Americas is the leading market across the globe on account of large patient pool. According to the report published in Centers for Disease Control and Prevention (CDC) in 2017, nearly 92.1 million adults dealing with at least one type of cardiovascular disease.

Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Therapeutic Medical Guide Wire Market Research Report

Europe accounts for the second largest market in the world. Europe consist of two regions namely Western Europe and Eastern Europe. Western Europe holds the major share of the market, which is majorly contributed by Germany, the U.K., and France. The increasing government support for development of the healthcare domain drives the European market.

Asia Pacific region is projected to be the fastest growing region during the forecast period. Rising burden of chronic disorders, and rapidly improving technology drives the growth of this market in Asia Pacific region. As per the study published in BMC Public Health in 2017, prevalence of type-2 diabetes, obesity, and cardiovascular disease has increased rapidly in recent years.

The Middle East and Africa holds the least share of the global market owing to the presence of poor and slow developing countries, especially, in African region.

Segmentation

The global therapeutic medical guide wire market is segmented on the basis of type, shape, application, and end-users.

On the basis of type, the market is segmented into solid guide wire, and wrapped guide wire.

On the basis of shape, the market is classified into j-shaped, angled, and straight.

On the basis of application, the market is classified into peripheral artery disease, cardiovascular diseases, neurovascular diseases, and urological disease.

On the basis of end -users, the market is segmented into hospitals, clinics, and academic institutes.