The global guidewires market is forecast to grow at a CAGR of 5.99% during the period 2017-2021.
The report, Global Guidewires Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.
The latest trend gaining momentum in the market is the growing demand for nitinol based guidewires. The materials in guidewires play an important role as it offers many advantage for process and therapeutic devices. There has been a significant rise in demand for nitinol-based guidewires when compared with stainless steel and polymers. Urological and cardiovascular surgery involves frequent use of guidewires. More than 60% of all interventional procedures require guidewires. The materials used in guidewires play an important role as they offer several advantages. The nitinol alloy material (nickel and titanium) allows guidewire manufacturers to achieve unique characteristics in undergoing phase transformation when subjected to temperature changes, external forces, and mechanical loading.
According to the report, one of the major drivers for this market is the prevalence of chronic disorders. The rising prevalence of the chronic disorders such as cardiac, urological and neurovascular disorders contributing majorly toward the market growth. The rising incidence of the various urological conditions such as bladder cancer, prostate cancer, bladder prolapse, painful bladder syndrome, erectile dysfunction (ED), overactive bladder, hematuria, and prostatitis driving the urology guidewires across the globe. Rising incidence of the chronic urological disease has become very censorious in recent decade and have led to the higher rate of hospitalization among the affected individuals.
Further, the report states that one of the major factors hindering the growth of this market is the retrieval of the lost guidewires. Majority of the urological, vascular, and neurovascular procedures involve the usage of devices such as stents and catheters. The placement and movement of these devices require the guidewire usage throughout procedures for facilitating the correct path for these devices. The selection of the guidewire is totally based on the medical condition of the patient and recommended by the surgeon as per the required need. The rising number of the urological procedures coupled with the technically difficulty while performing these procedures with new devices and complex techniques have increased the loss of foreign object during the procedures. Some critical and rare application are associated with urological and vascular procedures. One critical condition arises due to loss of guidewires during the surgeries.