Coronary Guidewires Market to Reach $594.8 Million by 2026; Driven by the Growing Prevalence of Cardiovascular Diseases

The global Coronary Guidewires Market  size is projected to reach USD 594.8 million by 2026. The increasing number of cardiovascular surgical procedures will create several opportunities for market growth. According to a report published by Fortune Business Insights, titled “Coronary Guidewires Market Size, Share & Industry Analysis, By Material (Nitinol, Stainless Steel, and Others) By Coating (Coated and Non-Coated) By End User (Hospitals, Cardiac Catheterization Laboratories, and Others) and Regional Forecast, 2019-2026,” the market was worth USD 383.3 million in 2018 and will exhibit a CAGR of 5.7% during the forecast period, 2019-2026.

Guidewires are used to access vascular targets in a highly precise manner. The coronary guidewires are used in surgical procedures where micro tube insertions are needed. These procedures involve the use of sensitive nerves which can get damage even due to slight physical contact. Properties of coronary guidewires such as flexibility and their ability to bend precisely as well as effectively will lead to a wider product adoption across the world. Moreover, the stiffness, coating, and advanced tip allow surgeons to perform lesions in complex surgical procedures. The high prevalence of cardiovascular diseases will have a direct impact on the growth of the market in the forthcoming years.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/coronary-guidewires-market-101974

Key Segments in the Coronary Guidewires Market:

• By Material: On the basis of material used, the market is segmented into nitinol, stainless steel, and others. Among these, the stainless steel segment is projected to dominate the market in terms of revenue. The enhanced procedural outcomes of guidewires made from stainless steel have enabled successful surgical procedures. The properties of stainless steel such as kink resistance and high rational stability have led to a wider product adoption. As of 2018, the stainless steel segment accounted for around 49.2% of the coronary guidewires market share. The nitinol segment will register a high CAGR in the coming years.


• By Coating Analysis: Based on coting analysis, the market is segmented into coated and non-coated. Among these, the coated segment is projected to dominate the market in the coming years. Variations in product availability have allowed flexible applications. The hydrophobic and hydrophilic coating guidewires possess exceptional properties that cater to widespread applications. “Coated guidewires minimize the risks of infections and injuries. Accounting to this, the coated segment is projected to register a considerable CAGR in the coming years,” said a lead analyst at Fortune Business Insights.


• By End User: Based on end users, the market is segmented into hospitals, cardiac catheterization laboratories, and others. Among these, the hospitals segment is likely to emerge dominant in the coming years driven by the increasing number of angioplasty and cardiovascular surgeries. According to the Agency for Healthcare Research and Quality, the volume of percutaneous transluminal coronary angioplasty procedures increased by around 20% from 2001-2011.


• By Region: The report analyzes the ongoing coronary guidewires market trends across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these, the market in North America is likely to dominate the market in the coming years, owing to the presence of cutting-edge healthcare institutions and ease of availability of related products. The increasing focus on adoption of modern equipment will emerge in favour of market growth. As of 2018, the market in North America was worth USD 128.5 million and this value is likely to increase further in the coming years. The presence of favorable health reimbursement policies will contribute to the growth of the market in this region.

Medtronic and Boston Scientific Projected to Dominate the Market

The global coronary guidewires market is consolidated in nature, and only a few players account for a major market share. Boston and Medtronic have together accounted for majority of the market share. A few of the other companies that are currently operating in the market are:

• Abbott


• Teleflex Corporation


• Cardinal Health Inc.


• Merit Medical Inc.


• Terumo Medical Corporation


• BIOTRONIK SE & Co.

Industry Developments:

• October 2015: Biotronik announced the launch of new generation of Galeo coronary guide wires in the European market.


• January 2018: Cardiovascular Systems Inks announced an agreement with OrbusNeich and Integer with the aim of expanding its high-quality balloon and guidewire product portfolio.  

The global coronary guidewires market is segmented on the basis of: