Industry Trends

North America Guidewires Market growth was valued at USD 308.6 million in 2019 and is expected to witness 4.0% CAGR from 2020 to 2026.

Guidewire is a wire that is used to guide the catheter placement in the body during minimally invasive procedure. It is also used in positioning, setting and moving a catheter.  Guidewires are widely utilized in angiography, radiology and cardiology procedures. Rising adoption of minimally invasive procedures will drive guidewire demand and foster the regional industry expansion.
 

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Technological advancements in minimally invasive surgeries are expected to fuel the demand for minimally invasive surgical procedures. For instance, Cook Medical announced the launch of 2-in-1 hybrid guidewire for urology procedures. This system provides features of a nitinol access guidewire and core safety guidewires. This will enable surgeons to avoid use of two wire guides for the procedure, thereby saving both time and making the system more cost effective. Such aforementioned factors will boost the North America guidewires market growth.

Rising geriatric population will act as high impact factor for growth of guidewires market. According to the World Bank Data report, nearly 16 percent of U.S. population aged above 60 years of age. This number is estimated to reach to 22% by 2030. Owing to demographic and health transitions, the population suffering from cardiovascular diseases would rise throughout the forecast timeframe. Hence, increasing geriatric population base will positively affect the guidewire market growth. However, high cost of guidewires could limit the market expansion in the short-run.

North America Market, By Material

By Material, the guidewires market is segmented into nitinol, stainless steel, hybrid, others. Hybrid guidewires segment accounted for USD 48.4 million in 2019. Hybrid guidewire has better resistance with greater stiffness as compared to nitinol. Hybrid guidewires are commonly used in urology procedures owing to its advantage of an atraumatic hydrophilic tip. The atraumatic tip facilitates nitinol core shaft, as it is Teflon coated. Such advantages of hybrid guidewire will increase the demand which in turn will propel the market growth.

North America Market, By Coating

By coating, the guidewires market is classified into coated and non-coated. The coated segment is sub-divided into silicone coating, heparin coating/anti-thrombogenic, hydrophobic coating, and tetrafluoroethylene coating. Hydrophilic coating will show significant growth to reach USD 230.5 million by 2026. Hydrophilic coating reduces the friction during the deployment for easier movement in tortuous vessels. It delivers device passage easily with flexible proximal end minimizing the damage of flexible ureteroscopes. Such aforementioned features will boost the demand of hydrophilic coating during the forecast timeframe.

North America Market, By Application

Based on application, the market is segmented into coronary guidewires, peripheral guidewires, urology guidewires, neurovascular guidewires and others. Urology segment will show a significant growth of 4.4% CAGR during the forecast timeframe. Urologic guidewires are used to ensure rapid access and are in the form of striped jacket that facilitate excellent visual handling. Increasing number of urological procedures will drive the market growth. For instance, in 2018, the average surgery centers performed 4,869 cases annually in U.S. Thus, the demand for urologic guidewires has increase, thereby augmenting the segmental growth.

North America Market, By Diameter

On the basis of diameter, the market is segmented into 0.014-inch, 0.018-inch, 0.025-inch, 0.032-inch, 0.035-inch and 0.038-inches. The 0.018-inch guidewires accounted for USD 28.9 million in 2019 and is expected to show significant growth during the analysis period. The 0.018-inch guidewires are widely used in peripheral interventions. It provides easily accessible torque and improves trackability and flexibility through the vessels. Such benefits will increase its need during the procedure, propelling the segmental growth.

North America Market, By Length

Based on length, the guidewires market is bifurcated into 80 cm, 120 cm, 145 cm, 150 cm, 180 cm, 260 cm, 300 cm, 450 cm and others. Guidewire of 80 cm is expected to reach USD 13.5 million by 2026. The 80 cm guidewire offers ease of use and manageable for single operator. These guidewires provide optimal support to reach the target lesions. Furthermore, few other advantages associated with guidewires are durability and mechanical support. Aforementioned factor will foster the segmental growth.

North America Market, By End-use

By end-use, the guidewires market is segmented into ambulatory surgical centre, hospitals, research laboratories and others. Hospital segment accounted for USD 108.3 million in 2019 and is expected to show significant growth of 3.7% CAGR during the forecast time period. Hospitals are well equipped with peripheral intervention and cardiovascular devices to cater to the various cardiovascular procedures as well as to fulfil instant necessities. Also, the increase in gastrointestinal surgeries coupled with the rising Group Purchasing Organizations (GPO) in developed economies will further help in driving the North Americas guidewires market during the forecast period.

North America Market, By Country

Canada guidewires market is expected to reach USD 58.6 million during the forecast period. Presence of highly qualified healthcare personnel in Canada will serve as major driving factor. Growing demand for minimal invasive procedures coupled with high technological adoption will drive market growth. Furthermore, people from developing countries that have spending capabilities prefer countries such as U.S. and Canada for availing advanced and rare treatment procedures.

Competitive Market Share

Major market players in guidewire market are Stryker Corporation, Boston Scientific Corporation, Cook Group and Cardinal Health among others. Companies undertake various strategies such as mergers, collaborations, new product launch, acquisitions, geographic expansions to strengthen their market share. For instance, in October 2019, 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.

North America Guidewires Market Background

The development of guidewires began in 1980s with the application of angiographic tools in urology endoscopy. Guidewire were designed and build for providing flexibility and reliability during the surgical procedure. Guidewires are metallic and hybrid structures that help in guiding catheters via the blood vessels for catheter placement. Over the last few decades, there has been tremendous advancement in guidewire technology for targeting specific disease and treating them. However, few guidewires are coated with polymers such as polytetrafluoroethylene (PTFE) or silicone that aid in increasing the lubricity of guidewires for various medical applications.