Guidewires Market: 40% of Growth to Originate from North America, Market Driven by Prevalence of Chronic Disorders - Technavio

NEW YORK, Aug. 31, 2022 /PRNewswire/ -- The guidewires market estimates a market value of USD 801.72 million from 2020 to 2025. The report offers a detailed analysis of the COVID-19 impact on the market and the new opportunities that market players can expect. In addition, the report projects the market to progress at a CAGR of 6.92% - Request a Free Sample Report

Guidewires Market: Major Driver

• The prevalence of chronic disorders is a major factor driving the global guidewires market share growth. The rising prevalence of chronic disorders such as cardiac, urological, and neurovascular disorders contributes majorly to the market growth. The rising incidence of chronic urological disease has become very censorious in the recent decade and has led to a higher rate of hospitalization among the affected individuals. Further, people aged 40 and above have significantly a higher risk of cardiac arrest, and there has been a significant increase in the number of people encountering cardiac diseases globally. Additionally, the overall market growth of guidewires contributed partially through the sales of neurovascular guidewires and slightly higher contribution from the urological guidewires. For instance, 23 new cases of prostate cancer are registered annually. Thus, the growing prevalence of various chronic conditions is the major driver behind the growth of the overall guidewire market.

Guidewires Market: Major Trend

• The growing demand for nitinol-based guidewires is another factor supporting the global guidewires market share growth. 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. Also, this material offers greater shape memory and provides super elasticity by retaining its structure after a significant strain deformation. Nitinol, when compared to other guidewire materials such as stainless steel and polymers, provides excellent biocompatibility, recovering elongation, visibility, and radiopacity (radio-density) under X-ray fluoroscopy. However, while manufacturing a guidewire, different materials are used in different areas such as the outer coil and core areas. The favorable characteristics and properties of nitinol have led to the high adoption of this material in the production of vascular guidewires. Therefore, the rise in the use of nitinol material in guidewires will drive market growth.

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Guidewires Market: Segmentation Analysis

The market research report segments the guidewires market by Product (coronary guidewires, peripheral guidewires, urology guidewires, and neurovascular) and Geography (North America, Europe, Asia, and ROW).

• Revenue Generating Segment - The guidewires market share growth in the coronary guidewires segment will be significant during the forecast period. The global coronary guidewires market segment is growing at a significant pace owing to the rising volume of vascular intervention procedures and the increased usage of coronary guidewires due to the high prevalence of CADs. The end-users shift from conventional procedures to MI surgeries and the implementation of initiatives to diagnose stenosis, occlusion, and other new indications have a positive impact on segment growth. 
• Regional Highlights - 40% of the market's growth will originate from North America during the forecast period. The US is the key market for the guidewires market in North America. Market growth in this region will be faster than the growth of the market in all other regions. The paradigm shift toward MI procedures will facilitate the guidewires market growth in North America over the forecast period.

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The competitive scenario provided in the Guidewires Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc. Don't wait, Make a strategic approach & boost your business goals with our Guidewires Market Forecast Report - Buy Now! 

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Table of Content

1 Executive Summary

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 01: Parent market
• Exhibit 02: Market characteristics

• 2.2 Value chain analysis
• Exhibit 03: Value chain analysis: Healthcare supplies

3 Market Sizing

• 3.1 Market Definition
• Exhibit 04: Offerings of vendors included in the market definition

• 3.2 Market segment analysis
• Exhibit 05: Market segments

• 3.3 Market size 2020

• 3.4 Market outlook: Forecast for 2020 - 2025
• Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
• Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

4 Five Forces Analysis

• 4.1 Five forces analysis 2020 & 2025
• Exhibit 08: Five forces analysis 2020 & 2025

• 4.2 Bargaining power of buyers
• Exhibit 09: Bargaining power of buyers

• 4.3 Bargaining power of suppliers
• Exhibit 10: Bargaining power of suppliers

• 4.4 Threat of new entrants
• Exhibit 11: Threat of new entrants

• 4.5 Threat of substitutes
• Exhibit 12: Threat of substitutes

• 4.6 Threat of rivalry
• Exhibit 13: Threat of rivalry

• 4.7 Market condition
• Exhibit 14: Market condition - Five forces 2020

5 Market Segmentation by Product

• 5.1 Market segments
• Exhibit 15: Product - Market share 2020-2025 (%)

• 5.2 Comparison by Product
• Exhibit 16: Comparison by Product

• 5.3 Coronary guidewires - Market size and forecast 2020-2025
• Exhibit 17: Coronary guidewires - Market size and forecast 2020-2025 ($ million)
• Exhibit 18: Coronary guidewires - Year-over-year growth 2020-2025 (%)

• 5.4 Peripheral guidewires - Market size and forecast 2020-2025
• Exhibit 19: Peripheral guidewires - Market size and forecast 2020-2025 ($ million)
• Exhibit 20: Peripheral guidewires - Year-over-year growth 2020-2025 (%)

• 5.5 Urology guidewires - Market size and forecast 2020-2025
• Exhibit 21: Urology guidewires - Market size and forecast 2020-2025 ($ million)
• Exhibit 22: Urology guidewires - Year-over-year growth 2020-2025 (%)

• 5.6 Neurovascular - Market size and forecast 2020-2025
• Exhibit 23: Neurovascular - Market size and forecast 2020-2025 ($ million)
• Exhibit 24: Neurovascular - Year-over-year growth 2020-2025 (%)

• 5.7 Market opportunity by Product
• Exhibit 25: Market opportunity by Product

6 Customer landscape

7 Geographic Landscape

• 7.1 Geographic segmentation
• Exhibit 27: Market share by geography 2020-2025 (%)

• 7.2 Geographic comparison
• Exhibit 28: Geographic comparison

• 7.3 North America - Market size and forecast 2020-2025
• Exhibit 29: North America - Market size and forecast 2020-2025 ($ million)
• Exhibit 30: North America - Year-over-year growth 2020-2025 (%)

• 7.4 Europe - Market size and forecast 2020-2025
• Exhibit 31: Europe - Market size and forecast 2020-2025 ($ million)
• Exhibit 32: Europe - Year-over-year growth 2020-2025 (%)

• 7.5 Asia - Market size and forecast 2020-2025
• Exhibit 33: Asia - Market size and forecast 2020-2025 ($ million)
• Exhibit 34: Asia - Year-over-year growth 2020-2025 (%)

• 7.6 ROW - Market size and forecast 2020-2025
• Exhibit 35: ROW - Market size and forecast 2020-2025 ($ million)
• Exhibit 36: ROW - Year-over-year growth 2020-2025 (%)

• 7.7 Key leading countries
• Exhibit 37: Key leading countries

• 7.8 Market opportunity by geography
• Exhibit 38: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges
• Exhibit 39: Impact of drivers and challenges

• 8.3 Market trends

9 Vendor Landscape

• 9.1 Overview
• Exhibit 40: Vendor landscape

• 9.2 Landscape disruption

10 Vendor Analysis

• 10.1 Vendors covered
• Exhibit 43: Vendors covered

• 10.2 Market positioning of vendors
• Exhibit 44: Market positioning of vendors

• 10.3 Abbott Laboratories
• Exhibit 45: Abbott Laboratories - Overview
• Exhibit 46: Abbott Laboratories - Business segments
• Exhibit 47: Abbott Laboratories - Key news
• Exhibit 48: Abbott Laboratories - Key offerings
• Exhibit 49: Abbott Laboratories - Segment focus

• 10.4 Asahi Intecc Co. Ltd.
• Exhibit 50: Asahi Intecc Co. Ltd. - Overview
• Exhibit 51: Asahi Intecc Co. Ltd. - Business segments
• Exhibit 52: Asahi Intecc Co. Ltd. - Key offerings
• Exhibit 53: Asahi Intecc Co. Ltd. - Segment focus

• 10.5 Becton Dickinson and Co.
• Exhibit 54: Becton Dickinson and Co. - Overview
• Exhibit 55: Becton Dickinson and Co. - Business segments
• Exhibit 56: ?Becton Dickinson and Co. - Key news
• Exhibit 57: Becton Dickinson and Co. - Key offerings
• Exhibit 58: Becton Dickinson and Co. - Segment focus

• 10.6 Boston Scientific Corp.
• Exhibit 59: Boston Scientific Corp. - Overview
• Exhibit 60: Boston Scientific Corp. - Business segments
• Exhibit 61: Boston Scientific Corp. - Key news
• Exhibit 62: Boston Scientific Corp. - Key offerings
• Exhibit 63: Boston Scientific Corp. - Segment focus

• 10.7 Cardinal Health Inc.
• Exhibit 64: Cardinal Health Inc. - Overview
• Exhibit 65: Cardinal Health Inc. - Business segments
• Exhibit 66: ?Cardinal Health Inc. - Key news
• Exhibit 67: Cardinal Health Inc. - Key offerings
• Exhibit 68: Cardinal Health Inc. - Segment focus

• 10.8 Cook Group Inc.
• Exhibit 69: Cook Group Inc. - Overview
• Exhibit 70: Cook Group Inc. - Product and service
• Exhibit 71: Cook Group Inc. - Key offerings

• 10.9 Lepu Medical Technology (Beijing) Co. Ltd.
• Exhibit 72: Lepu Medical Technology (Beijing) Co. Ltd. - Overview
• Exhibit 73: Lepu Medical Technology (Beijing) Co. Ltd. - Product and service
• Exhibit 74:Lepu Medical Technology (Beijing) Co. Ltd. - Key news
• Exhibit 75: Lepu Medical Technology (Beijing) Co. Ltd. - Key offerings

• 10.10 Medtronic Plc
• Exhibit 76: Medtronic Plc - Overview
• Exhibit 77: Medtronic Plc - Business segments
• Exhibit 78: Medtronic Plc - Key news
• Exhibit 79: Medtronic Plc - Key offerings
• Exhibit 80: Medtronic Plc - Segment focus

• 10.11 Merit Medical Systems Inc.
• Exhibit 81: Merit Medical Systems Inc. - Overview
• Exhibit 82: Merit Medical Systems Inc. - Business segments
• Exhibit 83: Merit Medical Systems Inc. - Key news
• Exhibit 84: Merit Medical Systems Inc. - Key offerings
• Exhibit 85: Merit Medical Systems Inc. - Segment focus

• 10.12 Terumo Corp.
• Exhibit 86: Terumo Corp. - Overview
• Exhibit 87: Terumo Corp. - Business segments
• Exhibit 88: Terumo Corp. - Key news
• Exhibit 89: Terumo Corp. - Key offerings
• Exhibit 90: Terumo Corp. - Segment focus

11 Appendix

• 11.1 Scope of the report

• 11.2 Currency conversion rates for US$
• Exhibit 91: Currency conversion rates for US$

• 11.3 Research methodology
• Exhibit 92: Research Methodology
• Exhibit 93: Validation techniques employed for market sizing
• Exhibit 94: Information sources

• 11.4 List of abbreviations
• Exhibit 95: List of abbreviations

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