The global guidewires market is growing, due to the increase in minimally invasive procedures. The increasing aging population and chronic diseases is also fuelling the growth of the global market. Furthermore, the worldwide growing prevalence of cardiovascular procedures across various age groups results in more number of cases undergoing PCI (Percutaneous Coronary Interventions) procedures, which is boosting the growth of the global market.
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A guidewire is a very thin tube on which catheter is placed, and it is inserted into the artery and moved towards the area of blockage. A guidewire helps in positioning, inserting, and moving catheter inside an artery to treat blockages. During the stenting procedure, a stent is placed over the balloon catheter, which is associated with a guidewire and then moved towards the blockage area in the artery. The balloon inflates inside the artery allowing the plaque to compress, leading to the opening of the artery. A stent then expands inside the artery and forms a scaffold. This allows artery to remain open, improve blood flow, and prevents reclosing of the artery. A coronary guidewire is inserted in care of coronary intervention procedure; whereas, peripheral guidewire is inserted in case of peripheral vascular intervention procedure.
Some of the factors driving the growth of the global guidewires market include the growth of aging population around the world, and growing prevalence of abdominal aortic aneurysms, peripheral artery diseases. In addition, the changes in lifestyle with increased consumption of alcohol, tobacco, and caffeine contributes to the growth of obesity. Also, the increased smoking leads to shrinking of arteries, which results in the decrease of blood flow within the arteries, and reduces the oxygen supply. The high blood cholesterol, smoking, poor diet, and lack of physical activity affects the blood flow, thus resulting in increasing prevalence of vascular diseases. All this is generating the demand for percutaneous coronary intervention and peripheral vascular intervention procedure worldwide. These procedures involve the usage of guidewires, thus driving the growth of the global market. However, the high price of endovascular procedure and stringent regulatory requirements are the key restraining factors in the growth of the global market.
Geographically, North America dominates the global market due to increasing prevalence of lifestyle diseases, with the growing aging population. The Asian market is expected to grow with high growth rate; wherein, China and India are anticipated to be the fastest growing markets during the forecast period. The key growth driving forces for the market in developing countries are large pool of patients undergoing PCI (Percutaneous coronary Intervention) and Peripheral vascular procedure, owing to blockage in blood vessels.
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Some of the major companies operating in the global guidewires market are Abbott Laboratories, Terumo Corporation, ASAHI INTECC, Medtronic Inc., Cordis Corporation, Boston Scientific Corporation, Stryker, B. Braun, and Cook Medical.
Guidewires Market Segmentation
- Coronary Guidewire
- Peripheral Guidewire
- Neurovascular Guidewire
- Urology Guidewire
- North America
- Rest of North America
- Rest of Europe
- Rest of Asia
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