Global Vascular Guidewires Market, Trends Size, By Application (Coronary Guidewires, Peripheral Guidewires, Urology Guidewires, and Neurovascular Guidewires), By Coating Type (Coated, and Non-Coated), By End User (Hospitals and Ambulatory Surgical Centers), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa): Global Opportunity Analysis and Industry Forecast, 2023-2030.
Global Vascular Guidewires Market
The Global Vascular Guidewires Market was valued at US$ 981 Mn in 2022, estimated to reach US$ 1,791 Mn by 2030, with a CAGR of 7.69% from 2023-2030.
A guidewire is a flexible wire that, in some circumstances, may also be a spring. It aids surgeons in the introduction and accurate positioning of a medical device, notably a prosthesis, within a patient's body. During an interventional procedure, the use of guidewires is crucial since they help a doctor and direct a medical instrument through the patient's anatomy.
To install angioplasty balloons, angioplasty stents, endovascular aneurysm repair stent grafts, plaque modification devices, hemodynamic flow alteration devices, and inferior vena cava filters, among other surgical procedures, vascular guidewires are employed.
Market Drivers
The desire for minimally invasive surgical techniques is growing as a result of benefits such as smaller incisions, quicker recovery, and less pain. The market is also being driven by changes in technology and an increase in the number of elderly people who are susceptible to chronic illnesses like cardiovascular disease, urological disease, and neurovascular disorders. According to forecasts from the World Health Organisation (WHO) for 2018, the percentage of people in the world who are 60 or older is predicted to increase from 12% in 2015 to 22% by 2050.
In addition, with aging comes an increase in the prevalence of cardiovascular illnesses, which is predicted to increase demand for surgical guidewires. Therefore, one of the major factors driving this market is the growing elderly population.
Market Restraints
Vascular guidewires are predicted to experience slower market growth due to risks and difficulties involved with using them, as well as the availability of efficient traditional treatment options.
Market Segmentation
The scope of the Global Vascular Guidewires Market covers segmentation based on Application, Coating Type, End User, and Region.
Based on Application, the market is segmented into Coronary Guidewires, Peripheral Guidewires, Urology Guidewires, and Neurovascular Guidewires.
Based on Coating Type, the market is divided into Coated and Non-Coated.
Based on End Users, the market is classified into Hospitals and Ambulatory Surgical Centers.
Regional Analysis
The Global Vascular Guidewires Market is segmented into 5 main regions, namely North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
North America is anticipated to hold the largest market share, due to the increased incidence of coronary and peripheral interventions, as well as the high frequency of cardiovascular illnesses. 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.
The main reasons driving the market's growth in the U.S. are the increased prevalence of cardiovascular illnesses and the inclination for minimally invasive procedures.
Key Players
Abbott Laboratories, B. Braun Melsungen AG, Becton, Dickinson and Company (C.R. Bard), Biotronik SE & Co. KG, Boston Scientific Corporation, Cardinal Health, Inc., Cook Medical Inc., Olympus Corporation, and Terumo Corporation.
Market Taxonomy
By Application
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