Guidewires Market size to exceed $1.8 Bn by 2032

Guidewires Market size is anticipated to surpass USD 1.8 billion by 2032, according to a new research report by Global Market Insights Inc.
 

The high prevalence of chronic illness among the elderly population should drive demand for guidewires in the healthcare sector. As per the Demographics of Population Ageing in Latin America, the number of people aged over 80 years is projected to grow at a faster rate than the younger population. Apart from this, favorable reimbursement scenarios in developed nations like the UK and US will have a positive influence on the market. Governments across these countries are strengthening the reimbursement policies for guidewires which will bring down the total cost of the product and increase its adoption rate.
 

High torque capabilities of stainless-steel guidewires

The guidewires market share from the stainless-steel material segment is expected to surpass USD 396 million by 2032 driven by several key features of the material. Some of the features of stainless-steel guidewires include strong support, improved push and torque capabilities, and greater shaping ability. Traditional guidewires made of stainless steel are used in underdeveloped nations as these are affordable and stronger. They are also used to provide added support during non-vascular procedures.
 

Robust growth for percutaneous coronary intervention procedures

Coronary guidewires application accounted for a 42.1% share of the guidewires industry in 2022. The need for percutaneous coronary intervention (PCI) operations is anticipated to increase with the rise in the number of patients with chronic diseases.
 

Browse key industry insights spread across 450 pages with 977 market data tables & 12 figures & charts from the report, “Guidewires Market Size By Material (Nitinol, Stainless Steel, Hybrid), By Coatings (Coated {Hydrophilic Coating, Anti-thrombogenic/Heparin Coating, Hydrophobic Coating, Silicone Coating, Tetrafluoroethylene (TFE) Coating}, Non-coated), By Application (Coronary Guidewires, Peripheral Guidewires, Urology Guidewires, Neurovascular Guidewires), By Diameter (0.014-inch, 0.018-inch, 0.025-inch, 0.032-inch, 0.035-inch, 0.038-inch), By Length (80 cm, 120 cm, 145 cm, 150 cm, 180 cm, 260 cm, 300 cm, 450 cm), By End-use (Hospitals, Ambulatory Surgical Centers, Research Laboratories), Industry Analysis Report, Application Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/guidewires-market-report
 

Higher operational success rate of 0.025-inch guidewires

The 0.025-inch guidewires segment is expected to reach over USD 107.5 million by 2032. The success rate in the detection and treatment of biliopancreatic disease is significantly higher using 0.025-inch guidewires. They are frequently employed in operations connected to Endoscopic Retrograde Cholangiopancreatography (ERCP). These guidewires also offer a great degree of operational freedom with lower risks of accidents, making them a popular choice among surgeons.
 

Increasing interventional surgeries across North America

North America accounted for over 34.5% share of the global guidewires market in 2022. Guidewires are one of the most crucial surgical tools used in minimally invasive interventional surgery across the region. In such surgery, the surgeon moves the guidewire along the blood vessel to the lesion site and takes appropriate steps for the disease treatment. Growing patient demand for minimally invasive surgical procedures along with the rising prevalence of various chronic diseases are the main factors that will drive regional market expansion.
 

New product developments by industry players

B. Braun Melsungen AG, Olympus Corporation, Boston Scientific Corporation, Cook Group, AngioDynamicis Inc, Stryker Corporation, and Terumo Corporation, among others are some of the leading companies in the global guidewires market.