Guidewires Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2024

Interventional and diagnostic purposes use guidewires in medical practices. Surgeries for placing IV catheter, endotracheal tube, central venous line and gastric feeding tubes require guidewires. Their properties can be customized according to the medical practitioner’s need. Due to these factors, their market demand in the medical sector is expected to grow over the forecast period.

Guidewire usage requires extensive training. Proper selection of guidewires requires expertise. The treatment is costly and the awareness is also low. Insurance policies have become more stringent and complicated. The global reimbursement scenario is affecting the market.

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.

Browse Details of Report @ https://www.hexaresearch.com/research-report/guidewires-industry

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.

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.

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.

Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe.