Guidewires Market Size

Global Guidewires Market Overview

The Guidewires Market Size was valued at USD 1.0 Billion in 2022 and is projected to grow from USD 1.04 Billion in 2023 to USD 1.4 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.80% during the forecast period (2023 - 2032). Growing popularity of minimally invasive surgical procedures due to benefits like smaller incisions, quicker recovery, and reduced pain, technological advancements, and an increase in the number of elderly people susceptible to a variety of chronic diseases like cardiovascular diseases, urological diseases, and neurovascular disorders, are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Guidewires Market Trends

• Increasing demand for minimally invasive surgeries (MIS) is driving the market growth

Minimally invasive surgery (MIS) is becoming more and more popular. Compared to invasive operations like open heart surgery, these methods cause less trauma to patients and hasten their recovery. Manufacturers (Ethicon Endo-Surgery, Inc.) have published research findings that show how quickly open/invasive surgeries are being replaced by minimally invasive ones.

The risk of developing chronic ailments like obesity, cardiovascular disease, and metabolic disorders has increased as a result of unhealthy and changing lifestyle patterns, such as consumption of salt, saturated fats, and sweets; lack of physical activity; high tobacco and alcohol use; and lack of physical activity. Growing rates of obesity, dietary abnormalities, and smoking are among the lifestyle habits that are contributing to the rise in cardiovascular, neurological, and urology-based disorders.

WHO (2018) estimates that cardiovascular illnesses account for 17.7 million annual fatalities. The prevalence of cardiovascular disease is increasing over the world as a result of an increase in unhealthy lifestyle choices like obesity and dietary abnormalities, smoking, and other factors. Additionally, the market is growing as a result of the steady increase of patients with congenital heart disease.

Catheters, stents, and other medical devices are implanted using guidewires. One factor that is anticipated to have an effect on catheter use is the increasing frequency of catheter-associated infections that are contracted in hospitals. Causing diseases such catheter-associated urinary tract infections (CAUTI) and intravascular catheter-related infections is the development of bacterial biofilm, particularly in the case of indwelling catheters.

Growing public knowledge of catheter-associated infections and their effects on patients' quality of life is anticipated to limit catheter use, which will ultimately have an influence on the market for guidewires. It is anticipated that the market dynamics would shift in favor the market of guidewires with the introduction of technological improvements aimed at minimizing catheter-associated infections and FDA publications aimed at raising awareness about the proper use of catheters. Thus, driving the Guidewires market revenue.

Guidewires Market Segment Insights

Guidewires Product Insights

The Market segments of Guidewires, based on Product includes coronary, peripheral, urology, and neurovascular. Due to the increased demand for minimally invasive coronary operations, the coronary segment had the biggest revenue share at 44.8%. A considerable number of patients with atherosclerosis are admitted to hospitals, and cardiovascular disease is becoming more common, both of which support the segment's expansion. Nearly 92.1 million American adults, according to the Heart Disease and Stroke Statistics 2018 report, had a cardiovascular disease in 2017.

Guidewires Coating Insights

The Guidewires Market segmentation, based on Coating, includes coated and non-coated. Due to strong demand, coated category accounted for the majority of income. These materials facilitate easy access to blood vessels while reducing friction and maintaining tactile sense. Both hydrophilic and hydrophobic coatings are available on the market. There are other conventionally applied uncoated products on the market. However, due to the benefits that coated guidewires provide, the use of uncoated guidewires is drastically decreasing.

Guidewires Raw Material Insights

The Market segmentation of Guidewires, based on Raw Material, includes nitinol, stainless steel, and others. The majority of the revenue share in terms of raw materials was made up of stainless steel. Due to its qualities, including strong corrosion resistance combined with antibacterial, non-magnetic, and non-staining features, stainless steel is a highly favored raw material. Strong support, push force transfer, and torque standards are provided by stainless steel. Paragon Diagnostic Guidewire (Integer Holdings Corporation), Amplatz Support Wire Guide (Cook), and True Form Reshapable Guide Wire (Merit Medical Systems) are a few examples of goods made of stainless steel.

Figure 1: Guidewires Market, by Raw Materials, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Guidewires Regional Insights

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. In terms of revenue, North America Guidewires market held the highest market share in 2022 (45.80%). The rising frequency of cardiovascular disorders and the increase in coronary and peripheral treatments are the main causes of this. The increased preference for minimally invasive procedures like cardiothoracic and coronary bypass surgery is also one of the main causes boosting regional demand. Another sign of the market's current enormous potential is the existence of leading companies like Terumo Medical Corporation, Boston Scientific Corporation, Abbott, Cardinal Health, AngioDynamics, and B. Braun Melsungen AG. Further, the U.S. market of Guidewires held the largest market share, and the Canada market of Guidewires was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: GUIDEWIRES MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The Europe Guidewires market held the second largest share. Surgeons from Europe are renowned all over the world for their proficiency in minimally invasive procedures. For these operations, France has built training facilities. Guidewires are utilized during minimally invasive coronary operations as safety measures. The use of technologically improved utilities for the treatment of target ailments, as well as favorable government policies, are some of the main drivers propelling market expansion in this area. B. Braun Melsungen AG, Medtronic, Cook Medical, and Stryker are significant companies that compete on the European market. Further, the German market of Guidewires held the largest market share, and the UK market of Guidewires was the fastest growing market in the European region.

Due to factors including the rising senior population, the prevalence of cardiovascular disease, and the preference for cutting-edge minimally invasive surgery techniques that offer quicker outcomes and higher accuracy, Asia Pacific market of Guidewires is predicted to see a profitable CAGR over the course of the projection year. Untapped potential in developing nations like China and India is also boosting the market. Further, China’s market of Guidewires held the largest market share, and the Indian market of Guidewires was the fastest growing market in the Asia-Pacific region.

Guidewires Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their Product lines, which will help the Guidewires market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Guidewires industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Guidewires industry to benefit clients and increase the market sector. In recent years, the Guidewires industry has offered some of the most significant advantages to medicine. Major players in the Guidewires market, including Olympus Corporation, Braun Melsungen AG, Abbott, Asahi Intecc, Co Ltd, Medtronic, Boston Scientific Corporation, Terumo Corporation, Stryker Corporation, Cook Group, AngioDynamicis Inc, and Cardinal Health, are attempting to increase market demand by investing in research and development operations.

Cardiovascular Systems Inc. (CSI) is a manufacturer of medical devices that creates and markets solutions for the management of coronary and peripheral vascular disease. The company sells crowns, accessories, a coronary orbital atherectomy system, and peripheral orbital atherectomy systems. As a kind of treatment for OAS atherosclerotic disease in peripheral arteries, it uses a percutaneous orbital atherectomy system. Guide wires, lubricants, infusion pumps, and other supplementary products are available from CSI. It has created orbital atherectomy system technology for both commercial uses in the peripheral and coronary arteries. The business helps people with coronary artery disease and peripheral arterial disease. It sells its goods to hospitals and clinics in the US through a network of wholesalers. The U.S. city of Saint Paul, Minnesota, serves as the headquarters of CSI. Cardiovascular Systems Inc. stated in October 2019 that the U.S. FDA had given the go-ahead to pre-market their product Viper Wire - Advance Coronary Guide Wire. Launching this new product aided the business in broadening its product selection.

A producer of medical devices, Cardiovascular Systems Inc. (CSI) develops and sells products for the management of coronary and peripheral vascular disease. The company offers coronary orbital atherectomy systems, peripheral orbital atherectomy systems, crowns, and accessories. It makes use of a percutaneous orbital atherectomy system as a type of treatment for OAS atherosclerotic disease in peripheral arteries. CSI offers other items such guide wires, lubricants, infusion pumps, and other accessories. It developed the orbital atherectomy system technology for both industrial applications in the coronary and peripheral arteries. Both peripheral arterial disease and coronary artery disease are assisted by the company. It uses a network of distributors to market its products to hospitals and clinics in the U.S. The headquarters of CSI are located in Saint Paul, Minnesota, a city in the United States. The U.S. FDA approved the pre-marketing of Cardiovascular Systems Inc.'s Viper Wire - Advance Coronary Guide Wire in October 2019. The introduction of this new product helped the company increase the variety of its offerings. The Telescope Guide Extension Catheter was introduced by Medtronic in May 2019 to provide access to distal lesions and additional backup support. This telescopic guide combines a solid pushwire distal portion with a hydrophilic coating.

Key Companies in the Guidewires market include

• Olympus Corporation


• Braun Melsungen AG


• Abbott


• Asahi Intecc, Co Ltd


• Medtronic


• Boston Scientific Corporation


• Terumo Corporation


• Stryker Corporation


• Cook Group


• AngioDynamicis Inc


• Cardinal Health

Guidewires Industry Developments

In April 2021 The debut of the new KinetixTM Guidewire for percutaneous coronary intervention (PCI) procedures was announced by Boston Scientific Corporation..

In January 2021 ErgoPack Complete improvements to crucial vascular access devices have been expanded in value by Teleflex.

Guidewires Market Segmentation

Guidewires Product Outlook

• Coronary


• Peripheral


• Urology


• Neurovascular

Guidewires Coating Outlook

• Coated


• Non Coated

Guidewires Raw Material Outlook

• Nitinol


• Stainless Steel


• Others

Guidewires Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America