The global guidewires market size is projected to reach USD 1,401.0 million by 2026, exhibiting a CAGR of 5.9% during the forecast period. Rising incidence rate of cardiovascular diseases is expected to be one of the major forces of growth for this market. According to estimates released by the American Heart Association (AHA), a staggering 15.5 million Americans were suffering from coronary heart disease in 2016. These numbers augur good news for the guidewire market as a steady rise in the prevalence of cardiovascular disorders will necessitate the utilization of advanced guidewire technology for quicker diagnosis and delivery of more accurate treatment for these conditions. Moreover, these devices are also crucial in diagnosing gastrointestinal disorders, which will further boost their employment in the healthcare industry.
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Robust Healthcare Infrastructure to Propel the Market in North America
Having generated a revenue of USD 308.2 million in 2018, North America is set to dominate the guidewires market share during the forecast period. This will be mainly attributable to variety of favorable conditions including availability of cutting-edge healthcare technology, friendly medical reimbursement policies, and a ready acceptance of modern technology.
The market in Europe will be chiefly driven by growing demand for minimally invasive procedures and increasing number of surgeries. Coupled with these is the high adoption rate of interventional diagnostic methods in Western European countries such as Germany and France, which is further fueling the market in the region.
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- Table of Content
1.4.Definitions and Assumptions
4.1.Technological advancements in Guidewires Market
4.2.Key Industry Developments- Partnerships, Mergers and Acquisitions
4.3.New Product Launched by Key Players
4.4.Prevalence of Major Cardiovascular Conditions for Key Countries
5.Global Guidewires Market Analysis, Insights and Forecast, 2015-2026
5.1.Key Findings / Summary
5.2.Market Analysis, Insights and Forecast – By Product
5.3.Market Analysis, Insights and Forecast – By Material
5.4.Market Analysis, Insights and Forecast – By Coating
5.5.Market Analysis, Insights and Forecast – By End User
5.5.1.Hospitals & Clinics
5.6.Market Analysis, Insights and Forecast – By Region
5.6.5.Middle East & Africa