Global Guidewires Market Research Report 2020 (Includes Business Impact of COVID-19)

  • TBI616602
  • November 28, 2020
  • Global
  • 103 pages
  • IFF Market Research
                                              The ongoing Coronavirus (COVID-19) pandemic is re-shaping everything from global economies to product categories, pricing, and stock availability to the consumer behavior. The final report is updated to address the impact of COVID-19 on the Guidewires market.

Trusted Business Insights is tracking mining/oil and gas, transportation, employment services, travel arrangements, and the leisure and hospitality sector closely as they are likely to be the hardest-hit sectors. Utilities, local pharma, diagnostics, consumer goods and durables, agro chem and fertilizers, and telecommunications are the sectors that will be weathering the COVID-19 storm and most likely come out relatively unscathed. Interdependencies of sectors are factored in our research report on the Guidewires market.

Guidewires Market Analysis and Industry Trends

Guidewires Market size was valued at USD 915.9 Million in 2019 and is expected to be worth USD 1,294.2 Million witnessing over 4.9% CAGR from 2020 to 2026. Guidewires are metallic and hybrid structures that help in guiding catheters via the blood vessels for catheter placement. Guidewires are most prominently utilized in cardiology, angiographic, and radiology procedures. The two most used combinations of guidewires include solid steel or nitinol and solid wire wrapped in a smaller wire coil. However, few guidewires are coated with polymers such as polytetrafluoroethylene (PTFE) or silicone that aids in increasing the lubricity of guidewires for various medical applications.

Guidewires leading Companies and manufacturers covered in this report:

Abbott Laboratories, Angiodynamics Inc., Asahi Intecc Co. Ltd., B. Braun Melsungen AG, Boston Scientific Corporation, Cook Group Incorporated, Cardinal Healthcare, Medtronic plc, Olympus Corporation, Stryker Corporation, Terumo Corporation, Merit Medical Systems, Teleflex, JOHNSON & JOHNSON, Angiodynamics

Some Leading brands covered in this report are

Asahi Family of Wires: ASAHI Confianza Coronary Guide Wires, ASAHI Grand Slam Coronary Guide Wires, ASAHI Light Coronary Guide Wires,ASAHI Medium Coronary Guide Wires, ASAHI Miracle Bros Coronary Guide Wires (3g, 4.5g, 6g and 12g), ASAHI Prowater Coronary Guide Wires, ASAHI Prowater Flex Coronary Guide Wires, ASAHI Standard Coronary Guide Wires ABOTT: BALANCE (HI-TORQUE BALANCE Coronary Guide Wire), BALANCE (HI-TORQUE BALANCE MIDDLEWEIGHT UNIVERSAL Coronary Guide Wire), HI-TORQUE CROSS-IT XT(100 XT, 200 XT, 300 XT) Medtronic: Cougar, Zinger, Persuader, Thunder Boston Scientific: Crossing guide wires, ChoICE PT, ChoICE PT Extra support, PT, PT Graphix Intermediate, Forte, IQ, Luge, Mailman Cordis: ATW„¢All Track Wire, ATW„¢Marker Wire WIZDOM® Steerable Guidewires, WIZDOM® ST Steerable Guidewires, STABILIZER® Balanced Performance Steerable Guidewires, STABILIZER® Plus Steerable Guidewires, STABILIZER® XS Steerable Guidewires, STABILIZER® Marker Wire, SHINOBI® Steerable Guidewires, SHINOBI® Plus Steerable Guidewires, REFLEX® Steerable Guidewires, Steer it Deflecting Tip Guidewire E-1 TeleFlex: R350„¢ Guidewire, Spectre„¢ Guidewire, Bandit„¢ Guidewire, Raider„¢ Guidewire, Warrior„¢ Guidewire Terumo Corporation: GLIDEWIRE® Hydrophilic Coated Guidewire, GLIDEWIRE® Baby-J„¢ Hydrophilic Coated Guidewire, GLIDEWIRE® GT Guidewire, GLIDEWIRE® Gold Hydrophilic Coated Guidewire, GLIDEWIRE ADVANTAGE® Guidewire GLIDEWIRE® TORQUE„¢ Device, RUNTHROUGH® NS Extra Floppy Coronary Guidewire, RUNTHROUGH® NS HYPERCOAT„¢ Coronary Guidewire

Key Revenue and Growth Drivers of Guidewires Market:

  • Rising adoption of minimally invasive surgical procedures increasing cases of lifestyle disorders in developing countries various reimbursement policies in developed countries growing geriatric population base across the globe.
  • Technological advancements

Challenges to address in Guidewires Market:

  • The high cost of guidewires.
  • The dearth of skilled healthcare professionals in developing economies.
  • Risks associated with guidewires.
  • Preference of drugs over devices.
Growing geriatric demography across the globe will boost the adoption of guidewires. The rising geriatric population will act as a high impact factor for the growth of guidewires demand. Increasing longevity, international migration, as well as declining fertility are major factors for varying age structures in different countries. According to the Demographics of Population Ageing in Latin America, the number of individuals aged 80 years and above is projected to grow at a much faster rate than the younger population. According to the United Nations, an estimated 962 million individuals across the globe aged above 60 years of age. This number is estimated to reach 1.42 billion by 2030. Owing to demographic and health transitions, the population suffering from cardiovascular diseases would rise throughout the forecast timeframe. Weakened immunity with the presence of varied chronic conditions elevates the risk of complications in old aged individuals. Hence, the increasing geriatric population will positively affect the guidewires industry growth. Increasing utilization of nitinol guidewires for atraumatic navigation will augment the guidewires market growth Nitinol-based guidewires dominated the global market share in 2019 and accounted for USD 298 million. Nitinol-based guidewires offer various advantages over other materials. Few of the advantages include increased flexibility, corrosion resistance, durability as well as increased tactile response. These advantages of nitinol, the guidewires industry is expected to grow at a moderate growth rate in the coming years. The rapid adoption of coated guidewires for interventional procedures will create lucrative opportunities in the market. Coated guidewires market had the highest revenue in 2019 and are expected to register a CAGR of 5% during the forecast timeframe. The high growth rate is attributable to the benefits offered by coated guidewires. Coated guidewires are smoother and are consistent with constricted tolerances. Coated guidewires are further bifurcated into the hydrophilic coating, anti-thrombogenic/heparin coating, hydrophobic coating, silicone coating, and tetrafluoroethylene (TFE) coating. Hydrophobic coated guidewires are expected to grow with a significant growth rate during the analysis period owing to its increased utilization in interventional procedures. The hydrophobic coatings are silicone-based coatings that can repel water and do not need any liquid activation to create a slippery surface on the guidewire. Thus, the coating helps the interventionist to conduct procedures by repelling water and further offers a strong tactile sensation. According to the American College of Cardiology, in the U.S. coronary events are expected to occur in about 1,055,000 individuals. An increase in cardiac procedures across the globe will supplement the market grow coronary guidewires dominated the global market in terms of revenue in 2019 and is expected to register a growth rate of 4.4% during the study period. Cardiovascular diseases are the leading cause of death in the U.S. and accounted for 840,768 deaths in 2016. Also, in the U.S. about 1,016,000 cardiac catheterization procedures were conducted in 2014. The increase in cardiovascular diseases is due to lifestyle changes such as smoking and high intake of cholesterol-rich foods. Thus, change in lifestyle habits will eventually lead to cardiovascular diseases and thereby creating opportunities for key players operating in the market. The adoption of guidewires in hospitals will boost the global market. Hospitals held a significant share of the global market in 2019 and were valued at USD 322.3 million. Hospitals are well equipped with cardiovascular devices and units to cater to various cardiovascular procedures as well as instant necessities can be fulfilled. Also, the increase in gastrointestinal and cardiovascular surgeries coupled with the rising Group Purchasing Organizations (GPO) in developed economies will further help in driving the guidewires market during the forecast period. The high prevalence of chronic diseases in the U.S. will boost market growth. One of the key factors responsible for regional growth is the prevalence of various chronic diseases. The availability of advanced treatment procedures and cutting-edge medical device technologies will serve as a growth factor for the growth of the North America guidewires market. According to the Centers for Disease Control and Prevention (CDC), in 2015, about 647 thousand Americans die from heart disease each year in the U.S. High pervasiveness of coronary heart disease is attributable to the adoption of a sedentary and unhealthy lifestyle. Moreover, reduced physical activities will further lead to increasing cases of cardiac conditions. Furthermore, the average per-capita spending on healthcare activities in the U.S. is very high. Also, several government agencies including the Centre for Medicare and Medicaid provide about 90% of the insurance cover. The presence of highly qualified healthcare personnel in Canada will serve as a major driving factor for the growth of guidewires. High technological adoption in North America coupled with a growing demand for minimally invasive procedures will drive market growth. The presence of major manufacturers and companies in the region further augments industry expansion. Furthermore, people from developing countries that have spending capabilities prefer countries such as the U.S. and Canada for availing advanced and rare treatment procedures. Implementation of various strategies such as new product launch and collaborations is expected to create profitable opportunities in the market. Cardiovascular Systems Inc. announced that the company received a U.S. FDA pre-market approval for their product Viper Wire - Advance Coronary Guide Wire. This new product launch helped the company to expand its product offerings. Nitiloops NovaCross Earns FDA Clearance for Treating Chronic Total Occlusion (CTO) Prior to PTCA or Stent InterventionMedtronic launched Telescope Guide Extension Catheter for providing additional backup support as well as access to distal lesions. This telescopic guide is a combination of solid push wire with a hydrophilic-coated distal segment. Medtronic launched Telescope Guide Extension Catheter for providing additional backup support as well as access to distal lesions. This telescopic guide is a combination of solid push wire with a hydrophilic-coated distal segment.

Guidewires Market Segmentation covered in report (including guidewires nitinol market size):

By Guidewire Material

  • Nitinol
  • Stainless Steel
  • Hybrid
  • Others

By type of Coating on Guidewires

  • Coated
  • Hydrophilic Coating
  • Anti-thrombogenic/Heparin Coating
  • Hydrophobic Coating
  • Silicone Coating
  • Tetrafluoroethylene (TFE) Coating
  • Non-coated

Segmentation of by Application of Guidewires

(Cardiology, Vascular, Neurology, GIT, ENT, Urology & Oncology)
  • Coronary Guidewires
Coronary guidewires are specialized wires intended for use in angioplasty procedures to introduce and position balloon catheters and other devices within the coronary system. They facilitate the alignment of interventional devices and may also function as a measuring tool.
  • Peripheral Guidewires
Guidewires are used as a guide rail for probing and a subsequent catheter insertion during interventions in the peripheral vascular system that are performed on the basis of the Seldinger technique. Other catheter systems also use guide wires for insertion, both into arterial and into venous vessels. Arterial access is possible either via the femoral artery (arteria femoralis) or via the brachial artery (arteria brachialis). Exemplary indications are PTA, intravascular, hemodynamic catheters or ports.
  • Urology Guidewires
Urological Guidewires are intended to facilitate the placement of endourological instruments during diagnostic or interventional procedures. These guidewires are not intended for coronary artery, vascular or neurological use
  • Neurovascular Guidewires
Neurovascular Guidewire is intended to be used in the neuro vasculature to facilitate placement and exchange of therapeutic devices such as cerebral catheters during intravascular therapy. This guidewire is intended for use only in the neuro vasculature.
  • Others

Segmentation by By End-use of Guidewire

    • Hospitals
    • Ambulatory Surgical Centers
    • Research Laboratories

Table of Contents

Executive Summary
1 Guidewires Market Overview
    1.1 Product Overview and Scope of Guidewires
    1.2 Guidewires Segment by Type
        1.2.1 Global Guidewires Production Growth Rate Comparison by Type (2014-2025)
        1.2.2 Nitinol
        1.2.3 Stainless Steel
        1.2.4 Hybrid
    1.3 Guidewires Segment by Application
        1.3.1 Guidewires Consumption Comparison by Application (2014-2025)
        1.3.2 Cardiology
        1.3.3 Vascular
        1.3.4 Neurology
        1.3.5 GIT
        1.3.6 ENT
        1.3.7 Urology
        1.3.8 Oncology
    1.4 Global Guidewires Market by Region
        1.4.1 Global Guidewires Market Size Region
        1.4.2 North America Status and Prospect (2014-2025)
        1.4.3 Europe Status and Prospect (2014-2025)
        1.4.4 China Status and Prospect (2014-2025)
        1.4.5 Japan Status and Prospect (2014-2025)
    1.5 Global Guidewires Market Size
        1.5.1 Global Guidewires Revenue (2014-2025)
        1.5.2 Global Guidewires Production (2014-2025)

2 Global Guidewires Market Competition by Manufacturers
    2.1 Global Guidewires Production Market Share by Manufacturers (2014-2019)
    2.2 Global Guidewires Revenue Share by Manufacturers (2014-2019)
    2.3 Global Guidewires Average Price by Manufacturers (2014-2019)
    2.4 Manufacturers Guidewires Production Sites, Area Served, Product Types
    2.5 Guidewires Market Competitive Situation and Trends
        2.5.1 Guidewires Market Concentration Rate
        2.5.2 Guidewires Market Share of Top 3 and Top 5 Manufacturers
        2.5.3 Mergers & Acquisitions, Expansion

3 Global Guidewires Production Market Share by Regions
    3.1 Global Guidewires Production Market Share by Regions
    3.2 Global Guidewires Revenue Market Share by Regions (2014-2019)
    3.3 Global Guidewires Production, Revenue, Price and Gross Margin (2014-2019)
    3.4 North America Guidewires Production
        3.4.1 North America Guidewires Production Growth Rate (2014-2019)
        3.4.2 North America Guidewires Production, Revenue, Price and Gross Margin (2014-2019)
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