Guidewires Global Market and Forecast To 2027, Key Player - Medtronic PLC, Boston Scientific, C.R. Bard, Terumo Corporation.

Posted December 5, 2021 by industryno1

VynZ Research is a global market intelligence company providing research reports.

The global guidewires market are growing at a steady rate i.e., 4.72% owing to the rising incidences of target disease, on-going product launch by key manufacturers, favorable medical reimbursement for guidewires in emerging economies, growing demand for minimally invasive surgical procedures globally, rising application for guidewires will fuel the growth of the global guidewires market. The guidewires are mainly adopted in cardiovascular, gastrointestinal, and interventional radiology applications owing to their features like stiffness, developed tip, coating, and shape enabling surgical professionals to diagnose and treat lesions in complex anatomical structures.

The initiatives by the government to reduce the burden for healthcare-associated infections (HAI) in emerging economies and develop healthcare infrastructure will further drive the growth of the global guidewire market. Nevertheless, the manufacturers are strengthening their portfolio, and are focusing on cost management and product distribution via collaboration to expand their market globally.

The COVID-19 outbreak had a moderate impact on the global guidewire market. Owing to the logistics disruptions that can lead to temporary shortages might impact the global guidewire market.

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Based on application, the cardiology segment has the largest share as cardiologists are increasingly using guidewire in procedures as it offers advantages like biocompatibility, resistivity, steerability, elasticity, and recovering elongation.

North America dominates the market owing to the strict implementation of medical reimbursements policies, emphasis on the utilization of modern healthcare technology, awareness among patients for minimally invasive surgical procedures, and strong presence of major OEM will propel the growth in the region. In addition, the growth in neurovascular diseases such as brain aneurysms, cerebral infarction, and stroke is anticipated to increase the demand for global guidewires.

Europe is anticipated to have a significant share owing to the surge in the number of surgeries, adoption of minimally invasive surgical procedures, adoption of technology in interventional diagnostic procedures in countries like the UK, France, and Germany will propel the growth in Europe.

In 2021, Boston Scientific has agreed to acquire Baylis Medical for USD 1.75 billion that will expand its horizon into electrophysiology and structural heart product portfolios and also support the radiofrequency (RF) NRG and VersaCross transseptal platforms, along with guidewires, sheaths, and dilators that are used to assist left heart access.

The industry players in the guidewire industry include Medtronic PLC, Boston Scientific, C.R. Bard, Terumo Corporation, Abbott Laboratories, B. Braun, Johnson & Johnson, Stryker Corporation, Olympus Corporation, Angiodynamics, and Cardinal Health.

Source: VynZ Research
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Last Updated December 5, 2021