Guidewires Market (By Product: Coronary, Peripheral, Urology, Neurovascular; By Coatings: Coated, Non-Coated; By Raw Material: Nitinol, Stainless Steel, Other) - Global Industry Analysis, Market Size, Share, Growth, Trends, Regional Outlook and Forecast 2021 - 2030


The global guidewires market is expected to grow at a CAGR of 5% over the forecast period 2021 to 2030 and projected to be worth around USD 1,512.2 million by 2030 from USD 980.2 million in 2020. Growing incidences of target diseases across the globe is major factor driving growth of the global guidewires market.

Guidewires Market Size 2017 to 2030

Key market Insights:

Emerging applications of guidewires are estimated to create gainful growth opportunities for the major companies functioning in the global guidewires market. Emerging economies across the globe are focusing on the healthcare spending which can have positive impact on the growth of the global guidewires market. Additionally, in the developed countries like United States and Canada, governments as well as regulatory bodies are offering attractive reimbursement policies for boosting adoption of guidewires which is augmenting growth of the target industry in the near future. Also, emerging countries across the globe are focusing on increasing guidewires production in order to cater the increasing global demand of the guidewires. This trend is expected to continue and will enhance growth of the global industry in the near future.

Critical factors responsible for market development are:

  • Key players operating in the global industry are focusing on the launches of the advanced products which is propelling the target industry market
  • Favorable medicinal reimbursements for the guidewire is another factor to boost growth of the global industry in the near future
  • Growing demand for the guidewire, owing to increasing minimally invasive surgical procedures worldwide.
  • Increasing applications of the guidewire for various endues purposes
  • Upsurge in the geriatric population

COVID-19 Impact on Global Guidewires Market

Outburst of COVID-19 has impacted on most of the key markets across the globe. COVID-19 is have low impact on the target market. North America is the biggest market for the guidewires, but to the spread of coronavirus and lockdown situations in U.S. supply and demand for the guidewires decreased. Due to COVID-19, supply chain disruption, fluctuations in the raw material supply, insufficient man power in the manufacturing facility and low demand form the end use costumers hampered target industry growth in the developed as well as emerging economies worldwide. However, COVID-19 situation is resolving slowly and most of the industries are started their facilities at full capacity.

Future of Global Guidewires Market

Key companies of the target industry such as Terumo Corporation and Boston Scientific Corporation are focusing in the business growth by adopting strategies such as capacity expansion, innovative product launches and heavy investments in the production in their facilities that is expected to flourish the global guidewires market growth in the near future. This trend is expected to continue and will augment growth of the global guidewires industry in the next 10 years. Further, increasing awareness regarding the benefits of the guidewires and rising old age population demanding more production of the guidewires and intern are boosting growth of the guidewires in the coming years.

Report Highlights Details
Market Size US$ 1,512.2 Million by 2030
Growth Rate CAGR of 5% From 2021 to 2030
Base Year 2020
Historic Data 2017 to 2020
Forecast Period 2021 to 2030
Segments Covered Product, Coating, Raw Materials
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Companies Mentioned Olympus Corporation, Braun Melsungen AG, Abbott, Asahi Intecc, Co Ltd, Medtronic, Boston Scientific Corporation, Terumo Corporation, Stryker Corporation, Cook Group, AngioDynamicis Inc, Cardinal Health

Segment Analysis:

Coronary segment is projected to control the Product Segment of Guidewires Market Revenue

On the basis of product segment, the global market is segregated into Neurovascular, coronary, urology, and peripheral. The coronary product segment is expected to dominate in terms of revenue over the forecast time frame. The growth is attributed to the growing demand for guidewires due to growth in the prevalence of cardiovascular diseases across the globe. Neurovascular segment will expand at a significant CAGR during the forecast time-frame.

Coating Segment Is Projected to Lead the Coating Segment of Guidewires Market Revenue

On the basis of coating segment, the global market is segregated into coating and non-coating. The coating segment is expected to dominate in terms of revenue over the forecast time frame. The growth is attributed to rising preference for the hydrophilic coated guidewires in vascular procedures across the globe.

Stainless Steel segment is projected to rule the Raw Material Segment of Guidewires Market Revenue

On the basis of raw material segment the global market is segregated into nitinol, stainless steel, and others. The stainless-steel raw material segment is expected to dominate in terms of revenue over the forecast time frame. The growth is attributed to the excellent properties offered by stainless steel such as push force transmission, torque specifications, and good support. Nitinol segment will expand at a significant CAGR during the forecast time-frame.

North America is estimated to be the Principal Market for Guidewires

The research report offers analysis of key trends and predictions of guidewires products across diverse geographies such as North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa. Geographically, guidewires market is conquered by North America owing to favorable government policies for the guidewires reimbursement in the countries of this region, especially in the U.S. and Canada of the region. Asia Pacific is expected to register the fast growth rate, on account of increasing research and development investment by key market players and growing adoption of the guidewires in the various end use applications. The growth of the guidewires industry in the countries of the Asia Pacific is attributed to growing adoption of the guidewires due to increasing minimally invasive surgical procedures in the countries including China, India, Japan, among others. Also, increasing healthcare spending, coupled with rising aging population are other factors anticipated to propel growth of the target industry in the countries of region.

Global Guidewires Market 2021 to 2030

Top Players contending in the Market:

The companies focusing on research and development are expected to lead the global guidewires market. Leading competitors contending in global guidewires market are as follows:

  • Olympus Corporation
  • Braun Melsungen AG
  • Abbott
  • Asahi Intecc, Co Ltd
  • Medtronic
  • Boston Scientific Corporation
  • Terumo Corporation
  • Stryker Corporation
  • Cook Group
  • AngioDynamicis Inc
  • Cardinal Health

For the better understanding the recent situation of the global guidewires market and for most policies of the country, Precedence Research forecast the future evolution of the guidewires industry. This research study proposes qualitative and measurable under standings on global guidewires market and assessment of market revenue and expansion trends for global market segments.

Key Market Developments:

  • In year 2017, Terumo Corporation introduced its research and development center in Unites States. It was established for the neurovascular and endovascular intervention.
  • Additionally, in 2017 Terumo Corporation established production facility in the Japan in order to fortify the manufacturing capability of access guidewires for the interventional procedures
  • Spectre guide wire launched by the Teleflex, a leading player in United States in 2017
  • Reshapable guide wire launched by the Merit Medical Systems in United States in 2017

Major Market Segments Covered:

By Product

  • Coronary
  • Peripheral
  • Urology
  • Neurovascular

By Coating

  • Coated
    • Hydrophilic
    • Hydrophobic
  • Non coated

By Raw Materials

  • Nitinol
  • Stainless Steel
  • Others

By Geography

  • North America
      • U.S.
      • Canada
  • Europe
      • Germany
      • France
      • United Kingdom
      • Rest of Europe
  • Asia Pacific
      • China
      • Japan
      • India
      • Southeast Asia
      • Rest of Asia Pacific
  • Latin America
      • Brazil
      • Rest of Latin America
  • Middle East & Africa (MEA)
      • GCC
      • North Africa
      • South Africa
      • Rest of Middle East & Africa
Request for Customize Report
Precedence offers custom market research services that help clients to get information on their business scenario required.

Frequently Asked Questions

What is the current size of the global guidewires market?
According to Precedence Research, The global guidewires market size was valued USD 980.2 million in 2020 and expected to reach over USD 1,512.2 million by the end of 2030.
The global guidewires market is projected to garner growth at a CAGR of 5% over the forecast period 2021 to 2030.
Growing incidences of target diseases across the globe is major factor driving growth of the global guidewires market. In addition to this, key players operating in the global industry are focusing on the launches of the advanced products which is propelling the target industry market in the near future.
North America dominated the global market with a market share of more than 30%.
The major companies functioning in the worldwide guidewires market are Olympus Corporation, B. Braun Melsungen AG, Abbott, Asahi Intecc, Co Ltd, Medtronic, Boston Scientific Corporation, Terumo Corporation, Stryker Corporation, Cook Group, AngioDynamicis Inc, and Cardinal Health among others.
The coronary segment accounted for the largest revenue with significant share in 2020. This is growth is due growth in the prevalence of cardiovascular diseases across the globe.
Among the coating segment, coating accounted for the largest revenue with significant share in 2020. This is growth is attributed to the rising preference for the hydrophilic coated guidewires in vascular procedures across the globe.
Guidewires refers to the flexible tube is used for guiding the catheter into diseased artery for accurate placement. Guidewires offers advantages including quicker recovery time, smaller incisions, and reduced pain. Growing demand for the guidewires owing to its benefits for the minimally invasive surgical procedures is supporting the global industry growth.
The raw materials used in guidewires market are Nitinol, Stainless Steel and Others.

PROCEED TO BUY

   USD 4500
   USD 7000
   USD 9000

ASK FOR SAMPLE

No cookie-cutter, only authentic analysis – take the 1st step to become an Precedence client

Get a Sample