Thursday, 25 October 2018

Global Guidewires Market – Application, Analysis, Size, Trends and Forecast 2024

Guidewires is a flexible wire inserted into the confined space as to guide instrument. It is mainly used in vascular intervention. The global guidewires market is growing at significant rate, due to escalating acceptance of minimally invasive surgery and increasing healthcare expenditure. The market has witnessed high demand for surgical guidewires over the last few years due to mounting regulatory directive executed for the prevention of healthcare related infection and escalating number of surgical treatment.

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Globally, the manufacturing companies are extensively involved in research and development of products in order to cater various medical procedures. Moreover, manufacturing companies have to abide strict regulatory requirements. However, rapid technological advancements have created immense opportunity for the manufacturers to leverage the market potential.

Geographically, North America is the largest guidewires market as in the region there is robust presence of key OEMs. In addition, the huge target patient population base those experiencing minimally invasive surgical procedures, mounting prevalence of lifestyle associated diseases, and escalating acceptance of more sophisticated wires are driving the growth of the North American guidewires market. Moreover, escalating geriatric population, mounting occurrence of cardiovascular diseases, and boosting reimbursement among developed countries are also up surging growth of the North American market.

Asia-Pacific is observed to witness fastest growth in the market. In addition, multiplying number of surgical and diagnostic procedures, boosting healthcare expenditure, escalating geriatric population, mounting prevalence of lifestyle associated diseases and modernization & expansion of healthcare infrastructure are also creating a positive impact on the guidewires industry growth in the region.

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Key players in the guidewires market are catering the demand of these devices by investing on technologically advanced products in their product portfolio across the globe. In May 2018, Medtronic announced advanced SynergyTLIF workflow, an integrated fully navigated procedure with less surgical procedures for lumbar spine surgery. Moreover, in February 2017, Medtronic received FDA and CE clearance for DxTerity Diagnostic Angiography Catheter line and transradial-specific products such as TRAcelet compression device, DxTerity TRA, and InTRAkit access kit in its coronary product portfolio.  

Medtronic PLC, Boston Scientific, C.R. Bard, Terumo Corporation, Abbott Laboratories, B. Braun, Johnson & Johnson, Stryker Corporation, Olympus Corporation, Angiodynamics, and Cardinal Health are the key players offering guidewires.

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