Guidewires Market Analysis Report, 2016 to 2024

Hexa Research
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Guidewires Market Size, Share, Growth, Industry Analysis,
Trends and Forecast Report up to 2024 | Hexa Research
Guidewires are flexible tubes used to guide a catheter to a diseased artery in the heart. They
are used for the diagnosis of cardiovascular diseases. It will face huge demand due to the recent
trend of minimally invasive procedures. Benefits of these procedures such as fast recovery,
reduced hospital stay, and a painless surgical experience will favor the guidewires market.
The growing geriatric population and presence of prevalent coronary diseases are factors that
can result in increased demand. The guidewires market is projected to grow at a rapid rate
from 2016 to 2024 (forecast phase). Reservations by reimbursement companies will hamper
the market growth.
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Coronary, peripheral, neurovascular, and urology guidewires are the 4 products currently
offered in the market. All these products will be of prominent use in the medical sector in the
years ahead. In 2013, Terumo Corporation dominated the peripheral guidewires market on
account of its expansive product portfolio. Additionally, prominent players of neurovascular
guidewires include ASAHI INTECC and Codman Neurovascular.
Regions include North America, Latin America, Asia Pacific, Europe, and Middle East & Africa
(MEA). North America will lead the guidewires market over the next eight years. This can be
attributed to the advanced health infrastructure and cardiovascular and neurovascular diseases
in the region. Presence of large manufacturers and their respective specialty products will also
favor the regional market growth. Asia Pacific will be the fastest growing market, owing its
growth to the economies of China and India.
Research and development play a key role pertaining to the growth of the global market. The
companies involved have tried to create cost-effective products to prevent any product recalls.
Tip shape retention and flexibility are the prime requirements of health practitioners while
handling guidewires. Well-known players in the market are ASAHI INTECC, Terumo Corporation,
Boston Scientific Corporation, and Abbott Laboratories.
New product launches and collaborations with healthcare practitioners are a common strategy
followed by these players. For instance, Boston Scientific has launched Safari preshaped TAVI
guidewires, Fathom Steerable Guidewires, choice Floppy guidewires, Journey Guidewire, and
Kinetix Guidewires. The Fathom series has advanced micro fabrication technology which can be
used to treat tortuous vasculature. Safari series can retain its shape and comes in three sizes.
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Global guidewires market is expected to grow at a significant pace from 2016 to 2024 owing to rising number of diseases related to cardiovascular and neurovascular among the geriatric population.