Guidewires Global Market Report 2024

Description

“Guidewires Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on guidewires market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
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Measure the impact of high global inflation on market growth.
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Where is the largest and fastest growing market for guidewires? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The guidewires market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Product: Interventional Guidewires; Diagnostic Guidewires
2) By Material: Nitinol; Stainless Steel; Hybrid; Other Materials
3) By Coating: Coated; Non-Coated
4) By Application: Coronary Guidewires; Peripheral Guidewires; Urology Guidewires; Radiology Guidewires; Neurovascular Guidewires; Gastroenterology Guidewires; Other Applications
5) By End-User: Hospitals; Ambulatory Surgical Centers; Research Laboratories; Other End-Users
Companies Mentioned: Boston Scientific Corporation; Medtronic plc; Terumo Corporation; Cook Group Incorporated; Abbott Laboratories
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Guidewires are thin wires utilized to guide the placement of a catheter during minimally invasive medical procedures, helping navigate vascular systems to access specific parts of the body.

The main types of guidewires are interventional guidewires and diagnostic guidewires. Interventional guidewires are a diverse range of wires designed with unique properties suitable for specific medical procedures. They are employed to access a person's vascular system and reach the desired position during minimally invasive interventions. Guidewires are made from materials such as nitinol, stainless steel, hybrid compositions, available in both coated and non-coated forms. They find applications in various medical fields, including coronary procedures, peripheral interventions, urology, radiology, neurovascular procedures, gastroenterology, among others. These guidewire products are utilized by hospitals, ambulatory surgical centers, research laboratories, and other medical facilities.

The guidewires market research report is one of a series of new reports from The Business Research Company that provides guidewires market statistics, including guidewires industry global market size, regional shares, competitors with an guidewires market share, detailed guidewires market segments, market trends and opportunities, and any further data you may need to thrive in the guidewires industry. This guidewires market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The guidewires market size has grown strongly in recent years. It will grow from $2.4 billion in 2023 to $2.55 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth observed during the historical period can be attributed to several factors, including the demand in developed healthcare markets, the increased adoption of endoscopic procedures, advancements in materials and coatings used in guidewires, a heightened focus on patient safety, and the development of specialty guidewires tailored for specific medical applications.

The guidewires market size is expected to see strong growth in the next few years. It will grow to $3.18 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The anticipated growth in the forecast period can be attributed to factors such as the emphasis on customization and specialty devices, a heightened focus on patient safety and efficacy, increasing demand in emerging economies, a rising prevalence of chronic diseases, and the growth in minimally invasive surgeries. Key trends expected in the forecast period include the miniaturization of medical devices, an increased demand for interventional procedures, expanding applications in cardiology, and a focus on enhancing the durability of guidewires.

The guidewires market is anticipated to experience growth due to the increasing prevalence of chronic diseases. Chronic diseases, lasting for more than a year and requiring ongoing medical treatments, are often treated using guidewires to reach the heart through blood vessels. The market is expected to expand as chronic diseases become more prevalent and technology in this field advances. For example, a research paper from the National Center for Biotechnology Information projected a nearly 99.5% increase in the number of U.S. citizens aged 50 and above with chronic diseases, rising from 71.52 million in 2020 to 142.66 million by 2050. This rise in chronic diseases is expected to be a driving force for the guidewires market.

The guidewires market is also poised for growth due to the increasing aging population globally. As the demographic shift leads to a higher proportion of elderly individuals, guidewires play a crucial role in navigating vascular structures during minimally invasive procedures, particularly in older age groups. The World Health Organization estimates that by 2030, one out of every six individuals globally will be 60 years old or older, with the population aged 60 and above expected to reach 1.4 billion. This demographic trend contributes significantly to the growth of the guidewires market.

A notable trend in the guidewires market is the adoption of technological advancements. Major companies in this market are incorporating innovative guidewire technologies to maintain their market positions. For instance, Merit Medical introduced the GO2WIRE Steerable Guide Wire System, utilizing Straight Linear Torque Steel Core Wire technology to improve response by 40%. The distal tip of the GO2WIRE is reshapable, enabling clinicians to tailor the wire tip to specific anatomical needs, and it features a platinum-enhanced tip for exceptional visibility during fluoroscopy.

Major companies in the guidewires market are focusing on the development of revolutionary coronary interventions featuring unique components such as micro-cut nitinol sleeves. Boston Scientific launched the Kinetix Guidewire, which incorporates a micro-cut nitinol sleeve for enhanced torque control during percutaneous coronary intervention procedures. This represents a significant advancement in coronary guidewire technology, offering improved deliverability, support for device delivery, and a strong safety profile.

In February 2022, Boston Scientific Corporation acquired Baylis Medical Company Inc. for approximately $1.75 billion. This acquisition aims to strengthen Boston Scientific Corporation's position in the cardiology market by incorporating Baylis's products and platforms, including guidewires, sheaths, and dilators.

Major companies operating in the guidewires market report are Boston Scientific Corporation, Medtronic plc, Terumo Corporation, Cook Group Incorporated, Abbott Laboratories, Cardinal Health Inc., Stryker Corporation, Olympus Corporation, Johnson & Johnson, B. Braun Melsungen AG, Teleflex Incorporated, AngioDynamics Inc., C.R. Bard Inc., Merit Medical Systems Inc., Becton Dickinson and Company, Cordis Corporation, Asahi Intecc Co. Ltd., Advanced Cardiovascular Systems Inc., Biosensors International Group Ltd., Bracco Diagnostics Inc., BTG plc, Coherex Medical Inc., Conmed Corporation, CryoCath Technologies Inc., Edwards Lifesciences Corporation, Interventional Spine, Intraluminal Therapeutics Inc., MicroPort Medical Systems Inc., NuVasive Inc., Penumbra Inc., Spectranetics Corporation, VasoNova Inc.

North America was the largest region in the guidewires market in 2023. Asia-pacific is expected to be the fastest-growing region in the global guidewires market report during the forecast period. The regions covered in the guidewires market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the guidewires market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The guidewires market consists of sales of solid core wire, mandrel wire, and ribbon wire. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r11772

1. Executive Summary

2. Guidewires Market Characteristics

3. Guidewires Market Trends And Strategies

4. Guidewires Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market
4.2. Ukraine-Russia War Impact On the Market
4.3. COVID-19 Impact On the Market

5. Global Guidewires Market Size and Growth

5.1. Global Guidewires Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Guidewires Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Guidewires Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Guidewires Market Segmentation

6.1. Global Guidewires Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Interventional Guidewires
Diagnostic Guidewires
6.2. Global Guidewires Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Nitinol
Stainless Steel
Hybrid
Other Materials
6.3. Global Guidewires Market, Segmentation By Coating, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Coated
Non-Coated
6.4. Global Guidewires Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Coronoary Guidewires
Peripheral Guidewires
Urology Guidewires
Radiology Guidewires
Neurovascular Guidewires
Gastroenterology Guidewires
Other Applications
6.5. Global Guidewires Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Hospitals
Ambulatory Surgical Centers
Research Laboratories
Other End-Users

7. Guidewires Market Regional And Country Analysis

7.1. Global Guidewires Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Guidewires Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Guidewires Market

8.1. Asia-Pacific Guidewires Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Guidewires Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Guidewires Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Guidewires Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Guidewires Market

9.1. China Guidewires Market Overview
9.2. China Guidewires Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Guidewires Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Guidewires Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Guidewires Market

10.1. India Guidewires Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Guidewires Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Guidewires Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Guidewires Market

11.1. Japan Guidewires Market Overview
11.2. Japan Guidewires Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Guidewires Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Guidewires Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Guidewires Market

12.1. Australia Guidewires Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Guidewires Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Guidewires Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Guidewires Market

13.1. Indonesia Guidewires Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Guidewires Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Guidewires Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Guidewires Market

14.1. South Korea Guidewires Market Overview
14.2. South Korea Guidewires Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Guidewires Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Guidewires Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Guidewires Market

15.1. Western Europe Guidewires Market Overview
15.2. Western Europe Guidewires Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Guidewires Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Guidewires Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Guidewires Market

16.1. UK Guidewires Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Guidewires Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Guidewires Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Guidewires Market

17.1. Germany Guidewires Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Guidewires Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Guidewires Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Guidewires Market

18.1. France Guidewires Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Guidewires Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Guidewires Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Guidewires Market

19.1. Italy Guidewires Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Guidewires Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Guidewires Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Guidewires Market

20.1. Spain Guidewires Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Guidewires Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Guidewires Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Guidewires Market

21.1. Eastern Europe Guidewires Market Overview
21.2. Eastern Europe Guidewires Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Guidewires Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Guidewires Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Guidewires Market

22.1. Russia Guidewires Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Guidewires Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Guidewires Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Guidewires Market

23.1. North America Guidewires Market Overview
23.2. North America Guidewires Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Guidewires Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Guidewires Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Guidewires Market

24.1. USA Guidewires Market Overview
24.2. USA Guidewires Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Guidewires Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Guidewires Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Guidewires Market

25.1. Canada Guidewires Market Overview
25.2. Canada Guidewires Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Guidewires Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Guidewires Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Guidewires Market

26.1. South America Guidewires Market Overview
26.2. South America Guidewires Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Guidewires Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Guidewires Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Guidewires Market

27.1. Brazil Guidewires Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Guidewires Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Guidewires Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Guidewires Market

28.1. Middle East Guidewires Market Overview
28.2. Middle East Guidewires Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Guidewires Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Guidewires Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Guidewires Market

29.1. Africa Guidewires Market Overview
29.2. Africa Guidewires Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Guidewires Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Guidewires Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Guidewires Market Competitive Landscape And Company Profiles

30.1. Guidewires Market Competitive Landscape
30.2. Guidewires Market Company Profiles
- 30.2.1. Boston Scientific Corporation
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Medtronic plc
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Terumo Corporation
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Cook Group Incorporated
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Abbott Laboratories
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Guidewires Market Competitive Benchmarking

32. Global Guidewires Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Guidewires Market

34. Guidewires Market Future Outlook and Potential Analysis

34.1 Guidewires Market In 2028 - Countries Offering Most New Opportunities
34.2 Guidewires Market In 2028 - Segments Offering Most New Opportunities
34.3 Guidewires Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer