Executive Summary
Azoth Analytics has released a research report titled "Global Guidewires Market (2024 Edition)" which provides a complete analysis of the Global Guidewires industry in terms of market segmentation By Material (Nitinol, Stainless Steel, Others), By Product (Surgical, Diagnostic), By Application (Cardiology, Peripheral, Urology, Neurology, Others) for the historical period of 2019-2022, the estimates of 2023 and the forecast period of 2024-2029.
The report analyses the Guidewires Market by Region (Americas, Europe, Asia Pacific, Middle East & Africa) and 10 Countries (United States, Canada, United Kingdom, Germany, France, Spain, China, Japan, South Korea, India). The Global Guidewires market showcased growth at a CAGR of 8.64% during 2019-2022. The market was valued at USD 1.27 Billion in 2022 which is expected to reach USD 2.03 Billion in 2029. Guidewires Market is being propelled increasing prevalence of cardiovascular diseases, technological advancements in guidewire design and materials, rising demand for minimally invasive procedures, and expanding healthcare infrastructure in developing economies.
According to World Health Organization (WHO), Noncommunicable diseases (NCDs) kill 41 million people each year, equivalent to 74% of all deaths globally. Cardiovascular diseases, including coronary artery disease, peripheral artery disease, and cardiac arrhythmias, continue to be leading causes of morbidity and mortality globally. As the prevalence of risk factors such as obesity, diabetes, and hypertension increase, so does the incidence of cardiovascular diseases. Guidewires are essential tools in percutaneous coronary interventions (PCI), peripheral vascular interventions (PVI), and electrophysiology procedures, driving the demand for guidewires. The increasing prevalence of chronic diseases worldwide drives the demand for guidewires by necessitating minimally invasive interventions for diagnosis and treatment. As the burden of chronic conditions continues to rise, the guidewires market is expected to expand further to meet the growing clinical needs.
The United States and China are by far the two largest spenders, with R&D spending of around 680 billion U.S. dollars and 550 billion U.S. dollars respectively in 2022. The United States, in particular, is a major contributor to global R&D expenditure in the pharmaceutical and biotech sectors. The region is home to numerous biopharmaceutical companies with substantial R&D budgets. Also, China has been increasing its R&D investments in the biopharmaceutical sector. South Korea, Japan, and Singapore also have a growing presence in biotechnology with notable R&D activities.
Advancements in metallurgical processing techniques enable precise control over the microstructure of stainless steel alloys. By carefully manipulating factors such as temperature, cooling rate, and mechanical deformation during manufacturing processes like heat treatment and cold working, manufacturers can tailor the material's grain size, phase distribution, and crystallographic orientation. This level of control allows for the optimization of mechanical properties, including flexibility, fatigue resistance, and radiopacity, while minimizing defects and enhancing overall reliability.
With a growing focus on infection control and patient safety, antimicrobial coatings are being incorporated into surgical guidewires to reduce the risk of nosocomial infections. These coatings utilize antimicrobial agents such as silver ions or chlorhexidine to inhibit the growth of bacteria and other pathogens on the guidewire surface, thereby lowering the risk of device-related infections. Also, Hydrophilic coatings applied to the surface of surgical guidewires reduce friction and improve lubricity, facilitating smoother navigation through tortuous anatomy and enhancing steerability. Advancements in coating technologies have led to the development of highly durable and long-lasting hydrophilic coatings that maintain their lubricious properties throughout extended procedures.
Advances in medical technology have expanded the scope of minimally invasive procedures to encompass a broader range of clinical conditions and anatomical sites. In addition to established applications like coronary angioplasty and endovascular interventions, minimally invasive techniques are increasingly used in fields such as interventional oncology, neurology, and orthopaedics. Guidewires enable physicians to access and treat target areas within the body with greater precision and safety, driving their demand across diverse medical specialties.
Guidewire manufacturers are developing specialized guidewires tailored to address the unique challenges of specific clinical applications. These include neurovascular guidewires for intracranial interventions, peripheral guidewires for lower limb revascularization, and biliary guidewires for endoscopic retrograde cholangiopancreatography (ERCP). Specialized guidewires feature optimized designs and properties to meet the demands of each application, providing clinicians with the tools they need to achieve optimal procedural outcomes in diverse anatomical regions and pathologies.
Scope of the Report:
The report analyses the Guidewires Market by Value (USD Million).
The report analyses the Guidewires Market by Epidemiology.
The report analyses the Guidewires Market by Region (Americas, Europe, Asia Pacific, Middle East & Africa) and 10 Countries (United States, Canada, United Kingdom, Germany, France, Spain, China, Japan, South Korea, India).
The report presents the analysis of Guidewires Market for the historical period of 2019-2022, the estimated year 2023 and the forecast period of 2024-2029.
The report analyses the Guidewires Market by Material (Nitinol, Stainless Steel, Others).
The report analyses the Guidewires Market by Product (Surgical, Diagnostic).
The report analyses the Guidewires Market by Application (Cardiology, Peripheral, Urology, Neurology, Others).
The key insights of the report have been presented through the frameworks of SWOT and Porter's Five Forces Analysis. Also, the attractiveness of the market has been presented by region, By material, by product & by application.
Also, the major opportunities, trends, drivers, and challenges of the industry has been analyzed in the report.
The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include Medtronic PLC, Terumo Corporation, Cardinal Health, Boston Scientific, Teleflex Incorporated, Johnson & Johnson, Abbott Laboratories, Stryker Corporation, Olympus Corporation, and Cook Group.
Table of Content
1. Market Background
1.1 Scope and Product Outlook
1.2 Executive Summary
1.3 Research Methodology
2. Strategic Recommendations
2.1 Amplify technological advancement
2.2 Escalate collaboration initiative with healthcare provider
3. Global Guidewires Market: Historic and Forecast
3.1 Impact Analysis of Macro Economic Factors on Global Guidewires Market
3.2 Epidemiology: Global Chronic Disease Prevalence
3.3 Epidemiology: Global Chronic Disease Incidence
3.4 Global Guidewires Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)
3.5 Degree of Impact of Covid-19 on Guidewires Market
3.6 Global Guidewires Market Segmentation: By Material
3.6.1 Global Guidewires Market, By Material Overview
3.6.2 Global Guidewires Market Attractiveness Index, By Material Overview
3.6.3 Global Guidewires Market Size, By Nitinol, By Value, 2019H-2029F (USD Million & CAGR)
3.6.4 Global Guidewires Market Size, By Stainless Steel, By Value, 2019H-2029F (USD Million & CAGR)
3.6.5 Global Guidewires Market Size, By Others, By Value, 2019H-2029F (USD Million & CAGR)
3.7 Global Guidewires Market Segmentation: By Product
3.7.1 Global Guidewires Market, By Product Overview
3.7.2 Global Guidewires Market Attractiveness Index, By Product Overview
3.7.3 Global Guidewires Market Size, By Surgical, By Value, 2019H-2029F (USD Million & CAGR)
3.7.4 Global Guidewires Market Size, By Diagnostic, By Value, 2019H-2029F (USD Million & CAGR)
3.8 Global Guidewires Market Segmentation: By Application
3.8.1 Global Guidewires Market, By Application Overview
3.8.2 Global Guidewires Market Attractiveness Index, By Application Overview
3.8.3 Global Guidewires Market Size, By Cardiology, By Value, 2019H-2029F (USD Million & CAGR)
3.8.4 Global Guidewires Market Size, By Peripheral, By Value, 2019H-2029F (USD Million & CAGR)
3.8.5 Global Guidewires Market Size, By Urology, By Value, 2019H-2029F (USD Million & CAGR)
3.6.6 Global Guidewires Market Size, By Neurology, By Value, 2019H-2029F (USD Million & CAGR)
3.6.7 Global Guidewires Market Size, By Others, By Value, 2019H-2029F (USD Million & CAGR)
4. Global Guidewires Market, Region Analysis
4.1 Regional Coverage of the Study
4.2 Regional Snapshot
5. Americas Guidewires Market: Historic and Forecast
5.1 Americas Guidewires Market: Snapshot
5.2 Americas Guidewires Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)
5.3 Americas Guidewires Market: Key Factors
5.4 Americas Guidewires Market: Segment Analysis
5.5 Americas Guidewires Market Segmentation: By Material
5.5.1 Americas Guidewires Market, By Material Overview
5.5.2 Americas Guidewires Market Size, By Nitinol, By Value, 2019H-2029F (USD Million & CAGR)
5.5.3 Americas Guidewires Market Size, By Stainless Steel, By Value, 2019H-2029F (USD Million & CAGR)
5.5.4 Americas Guidewires Market Size, By Others, By Value, 2019H-2029F (USD Million & CAGR)
5.6 Americas Guidewires Market Segmentation: By Product
5.6.1 Americas Guidewires Market, By Product Overview
5.6.2 Americas Guidewires Market Size, By Surgical, By Value, 2019H-2029F (USD Million & CAGR)
5.6.3 Americas Guidewires Market Size, By Diagnostic, By Value, 2019H-2029F (USD Million & CAGR)
5.7 Americas Guidewires Market Segmentation: By Application
5.7.1 Americas Guidewires Market, By Application Overview
5.2.2 Americas Guidewires Market Size, By Cardiology, By Value, 2019H-2029F (USD Million & CAGR)
5.7.3 Americas Guidewires Market Size, By Peripheral, By Value, 2019H-2029F (USD Million & CAGR)
5.7.4 Americas Guidewires Market Size, By Urology, By Value, 2019H-2029F (USD Million & CAGR)
5.5.5 Americas Guidewires Market Size, By Neurology, By Value, 2019H-2029F (USD Million & CAGR)
5.5.6 Americas Guidewires Market Size, By Others, By Value, 2019H-2029F (USD Million & CAGR)
5.8 Americas Guidewires Market Segmentation: By Country
5.8.1 Americas Guidewires Market, By Country Overview
5.8.2 United States Guidewires Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)
5.8.2.1 United States Guidewires Market, By Material
5.8.2.2 United States Guidewires Market, By Product
5.8.2.3 United States Guidewires Market, By Application
5.8.3 Canada Guidewires Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)
5.8.3.1 Canada Guidewires Market, By Material
5.8.3.2 Canada Guidewires Market, By Product
5.8.3.3 Canada Guidewires Market, By Application
5.8.4 Rest of Americas Guidewires Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)
5.8.4.1 Rest of Americas Guidewires Market, By Material
5.8.4.2 Rest of Americas Guidewires Market, By Product
5.8.4.3 Rest of Americas Guidewires Market, By Application
6. Europe Guidewires Market: Historic and Forecast
6.1 Europe Guidewires Market: Snapshot
6.2 Europe Guidewires Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)
6.3 Europe Guidewires Market: Key Factors
6.4 Europe Guidewires Market: Segment Analysis
6.5 Europe Guidewires Market Segmentation: By Material
6.5.1 Europe Guidewires Market, By Material Overview
6.5.2 Europe Guidewires Market Size, By Nitinol, By Value, 2019H-2029F (USD Million & CAGR)
6.5.3 Europe Guidewires Market Size, By Stainless Steel, By Value, 2019H-2029F (USD Million & CAGR)
6.5.4 Europe Guidewires Market Size, By Others, By Value, 2019H-2029F (USD Million & CAGR)
6.6 Europe Guidewires Market Segmentation: By Product
6.6.1 Europe Guidewires Market, By Product Overview
6.6.2 Europe Guidewires Market Size, By Surgical, By Value, 2019H-2029F (USD Million & CAGR)
6.6.3 Europe Guidewires Market Size, By Diagnostic, By Value, 2019H-2029F (USD Million & CAGR)
6.7 Europe Guidewires Market Segmentation: By Application
6.7.1 Europe Guidewires Market, By Application Overview
6.5.2 Europe Guidewires Market Size, By Cardiology, By Value, 2019H-2029F (USD Million & CAGR)
6.5.3 Europe Guidewires Market Size, By Peripheral, By Value, 2019H-2029F (USD Million & CAGR)
6.5.4 Europe Guidewires Market Size, By Urology, By Value, 2019H-2029F (USD Million & CAGR)
6.5.5 Europe Guidewires Market Size, By Neurology, By Value, 2019H-2029F (USD Million & CAGR)
6.5.6 Europe Guidewires Market Size, By Others, By Value, 2019H-2029F (USD Million & CAGR)
6.8 Europe Guidewires Market Segmentation: By Country
6.8.1 Europe Guidewires Market, By Country Overview
6.8.2 United Kingdom Guidewires Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)
6.8.2.1 United Kingdom Guidewires Market, By Material
6.8.2.2 United Kingdom Guidewires Market, By Product
6.8.2.3 United Kingdom Guidewires Market, By Application
6.8.3 Germany Guidewires Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)
6.8.3.1 Germany Guidewires Market, By Material
6.8.3.2 Germany Guidewires Market, By Product
6.8.3.3 Germany Guidewires Market, By Application
6.8.4 France Guidewires Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)
6.8.4.1 France Guidewires Market, By Material
6.8.4.2 France Guidewires Market, By Product
6.8.4.3 France Guidewires Market, By Application
6.8.5 Spain Guidewires Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)
6.8.5.1 Spain Guidewires Market, By Material
6.8.5.2 Spain Guidewires Market, By Product
6.8.5.3 Spain Guidewires Market, By Application
6.8.6 Rest of Europe Guidewires Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)
6.8.6.1 Rest of Europe Guidewires Market, By Material
6.8.6.2 Rest of Europe Guidewires Market, By Product
6.8.6.3 Rest of Europe Guidewires Market, By Application
7. Asia Pacific Guidewires Market: Historic and Forecast
7.1 Asia Pacific Guidewires Market: Snapshot
7.2 Asia Pacific Guidewires Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)
7.3 Asia Pacific Guidewires Market: Key Factors
7.4 Asia Pacific Guidewires Market: Segment Analysis
7.5 Asia Pacific Guidewires Market Segmentation: By Material
7.5.1 Asia Pacific Guidewires Market, By Material Overview
7.5.2 Asia Pacific Guidewires Market Size, By Nitinol, By Value, 2019H-2029F (USD Million & CAGR)
7.5.3 Asia Pacific Guidewires Market Size, By Stainless Steel, By Value, 2019H-2029F (USD Million & CAGR)
7.5.4 Asia Pacific Guidewires Market Size, By Others, By Value, 2019H-2029F (USD Million & CAGR)
7.6 Asia Pacific Guidewires Market Segmentation: By Product
7.6.1 Asia Pacific Guidewires Market, By Product Overview
7.6.2 Asia Pacific Guidewires Market Size, By Surgical, By Value, 2019H-2029F (USD Million & CAGR)
7.6.3 Asia Pacific Guidewires Market Size, By Diagnostic, By Value, 2019H-2029F (USD Million & CAGR)
7.7 Asia Pacific Guidewires Market Segmentation: By Application
7.7.1 Asia Pacific Guidewires Market, By Application Overview
7.7.2 Asia Pacific Guidewires Market Size, By Cardiology, By Value, 2019H-2029F (USD Million & CAGR)
7.7.3 Asia Pacific Guidewires Market Size, By Peripheral, By Value, 2019H-2029F (USD Million & CAGR)
7.7.4 Asia Pacific Guidewires Market Size, By Urology, By Value, 2019H-2029F (USD Million & CAGR)
7.5.5 Asia Pacific Guidewires Market Size, By Neurology, By Value, 2019H-2029F (USD Million & CAGR)
7.5.6 Asia Pacific Guidewires Market Size, By Others, By Value, 2019H-2029F (USD Million & CAGR)
7.8 Asia Pacific Guidewires Market Segmentation: By Country
7.8.1 Asia Pacific Guidewires Market, By Country Overview
7.8.2 China Guidewires Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)
7.8.2.1 China Guidewires Market, By Material
7.8.2.2 China Guidewires Market, By Product
7.8.2.3 China Guidewires Market, By Application
7.8.3 Japan Guidewires Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)
7.8.3.1 Japan Guidewires Market, By Material
7.8.3.2 Japan Guidewires Market, By Product
7.8.3.3 Japan Guidewires Market, By Application
7.8.4 South Korea Guidewires Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)
7.8.4.1 South Korea Guidewires Market, By Material
7.8.4.2 South Korea Guidewires Market, By Product
7.8.4.3 South Korea Guidewires Market, By Application
7.8.5 India Guidewires Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)
7.8.5.1 India Guidewires Market, By Material
7.8.5.2 India Guidewires Market, By Product
7.8.5.3 India Guidewires Market, By Application
7.8.6 Rest of Asia Pacific Guidewires Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)
7.8.6.1 Rest of Asia Pacific Guidewires Market, By Material
7.8.6.2 Rest of Asia Pacific Guidewires Market, By Product
7.8.6.3 Rest of Asia Pacific Guidewires Market, By Application
8. Middle East and Africa Guidewires Market: Historic and Forecast
8.1 Middle East and Africa Guidewires Market: Snapshot
8.2 Middle East and Africa Guidewires Market: Market Size and CAGR, 2019-2029 (USD Million & CAGR)
8.3 Middle East and Africa Guidewires Market: Key Factors
8.4 Middle East and Africa Guidewires Market: Segment Analysis
8.5 Middle East and Africa Guidewires Market Segmentation: By Material
8.5.1 Middle East and Africa Guidewires Market, By Material Overview
8.5.2 Middle East and Africa Guidewires Market Size, By Nitinol, By Value, 2019H-2029F (USD Million & CAGR)
8.5.3 Middle East and Africa Guidewires Market, By Stainless Steel, By Value, 2019H-2029F (USD Million & CAGR)
8.5.4 Middle East and Africa Guidewires Market, By Others, By Value, 2019H-2029F (USD Million & CAGR)
8.6 Middle East and Africa Guidewires Market Segmentation: By Product
8.6.1 Middle East and Africa Guidewires Market, By Product Overview
8.6.2 Middle East and Africa Guidewires Market Size, By Surgical, By Value, 2019H-2029F (USD Million & CAGR)
8.6.3 Middle East and Africa Guidewires Market Size, By Diagnostic, By Value, 2019H-2029F (USD Million & CAGR)
8.7 Middle East and Africa Guidewires Market Segmentation: By Application
8.7.1 Middle East and Africa Guidewires Market, By Application Overview
8.7.2 Middle East and Africa Guidewires Market Size, By Cardiology, By Value, 2019H-2029F (USD Million & CAGR)
8.7.3 Middle East and Africa Guidewires Market Size, By Peripheral, By Value, 2019H-2029F (USD Million & CAGR)
8.7.4 Middle East and Africa Guidewires Market Size, By Urology, By Value, 2019H-2029F (USD Million & CAGR)
8.5.5 Middle East and Africa Guidewires Market Size, By Neurology, By Value, 2019H-2029F (USD Million & CAGR)
8.5.6 Middle East and Africa Guidewires Market, By Others, By Value, 2019H-2029F (USD Million & CAGR)
9. Market Dynamics
9.1 Impact assessment of Market Dynamics on Global Guidewires Market
9.2 Drivers
9.3 Restraints
9.4 Trends
10. Industry Ecosystem Analysis
10.1 Porter Analysis
11. Competitive Positioning
11.1 Companies' Product Positioning
11.2 Market Share of Leading Companies
11.3 Company Profiling
11.3.1 Medtronic PLC
11.3.2 Terumo Corporation
11.4.3 Cardinal Health
11.3.4 Boston Scientific
11.3.5 Teleflex Incorporated
11.3.6 Johnson & Johnson
11.3.7 Abbott Laboratories
11.3.8 Stryker Corporation
11.3.9 Olympus Corporation
11.3.10 Cook Group
12. About Us and Disclaimer
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