Industry Trends

Asia Pacific Guidewire Market growth was valued at USD 227.9 million in 2019 and is expected to witness 6.2% CAGR from 2020 to 2026.

Guidewire is a device used during cardiovascular insertions to guide the catheter. There are three types of guidewires that are solid core wire, mandrel wire and ribbon wire. The solid core wire is encased by metal spring coil. Mandrel wire has outer spring coil at one end. Ribbon wire spring coil encases both ribbon wire and core wire. There are three types of spring wire guide tips that are J tip, straight tip and angel tip.
 

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Growing demand for minimally invasive surgical procedures will drive the guidewires market in the region. Minimally invasive surgery is performed by creating tiny incisions rather than larger opening. It offers quicker recovery time with less pain. Due to these benefits people choose to use minimally invasive surgeries as compared to traditional method. Guidewires are used during these minimally invasive surgical procedure. Benefits such as minimal to no scars, lower rate of complications, less blood loss, shorter hospital, smaller incisions are encouraging surgeons to prefer minimally invasive surgery. That increases the demand of guidewires during the procedure, thus driving the market growth. 

Technological advancement has increased the demand of more advance way for treating various number of diseases. That includes ease of access, reduce surgical time, ease of mobility and better services to surgeons and patients. Major players in the market are continuously innovating new products to meet the increasing demand of more advance guidewires that would be easy to use and flexible. These factors are driving the guidewires market in the region. However, high cost of guidewires and risk associated with using the guidewires may restrict the regional market growth of guidewires.

Asia Pacific Market, By Material

By material, the guidewires market is segmented into nitinol, hybrid, stainless steel and others. Nitinol segmented accounted for USD 75.7 million in 2019. Nitinol guidewire is used due to its flexibility and stiffness for effective atraumatic navigation and torque control. Nitinol guidewire is available in various tip designs, shaft configuration, wire sizes and with different coatings. Nitinol guidewire is made by super elastic nitinol core that makes it highly kink resistant and easy for the navigation during tortuous anatomy. These advantages associated with nitinol guidewires will drive the demand, thus propelling the segmental growth.

Asia Pacific Market, By Coating

By coating, the guidewires market is segmented into non-coated and coated. The coated segment is divided into heparin coating/anti-thrombogenic, silicone coating, hydrophobic coating, and tetrafluoroethylene coating. Silicone coating segment is expected to reach USD 18 million by 2026. Silicone coating guidewire allows smooth device tracking with complex device delivery in critical cases. It provides precise lesion measurement system with no compromise in performance. Silicone guidewires are also used in placement of balloon dilatation catheters and intervascular interventional procedures. Its soft and smooth coating allows it to operate in an easy way that increases its demand and boost the segmental growth.

Asia Pacific Market, By Application

On the basis of application, the region is segmented into peripheral guidewires, urology guidewires, neurovascular, coronary guidewires and others. Peripheral guidewires segment will show a significant growth of 6.8% by 2026. Peripheral guidewires are one of the important minimally invasive medical devices. This are used to access peripheral vessels and allow precise interventional treatment during the surgery. This surgery is performed by endoscopes, laparoscopes and catheter-based technique. Patient preference using minimally invasive procedure increases the demand peripheral guidewires, thus foresting the segmental growth.

Asia Pacific 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. Diameter of 0.014 inch accounted for market share of 33.7% in 2019. High growth is attributed to various properties associated with 0.014-inch diameter guidewires such as device compatibility, crossing tight stenosis, tortuosity and others. This makes 0.014-inch guidewires one of the most preferred devices for peripheral intervention procedure. Smaller diameter of these guidewires has greater trackability and flexibility through the vessel. All such benefits will increase the demand of 0.014-inch guidewires and propel the segmental growth.

Asia Pacific Market, By Length

On the basis of length, the market is divided into 80 cm, 120 cm, 145 cm, 150 cm, 180 cm, 260 cm, 300 cm, 450 cm and others. The 300 cm guidewires segment will reach USD 73.1 million by 2026. Its easy penetration rate are expected to show a significant growth during the forecast period. Longer wire provides catheter exchange and distal device delivery without losing distal wire position. Longer guidewires are also used in neurointervention procedures. wide array of applications of 300 cm guidewires will be conducive to segmental growth.  

Asia Pacific Market, By End-use

On the basis of end-use, the guidewires market is segmented into research laboratories, ambulatory surgical centre, hospitals and others. Hospitals segment is expected to show growth of 6.0% across the forecast timeframe. Availability of emergency care facilities with well-developed infrastructure in hospital settings will boost the segmental growth. Hospitals in developing countries of the region are spending on additional innovative solutions and to improve infrastructure to perform surgical procedures. These facilities that are equipped with technologically advanced devices including guidewires will increases the patient preference for hospitals, thus foresting the segmental growth.

Asia Pacific Market, By Country

Australia guidewires market accounted for USD 24.2 million in 2019 and will witness steady during the forecast period. The local market is expected to show a high rate of growth due to rising prevalence of various chronic disease in the country. Various government initiatives for advance facility and technology in the region will increases the demand of guidewires in the market. Moreover, growing demand for minimally invasive procedures will further upsurge the adoption of guidewires for various surgeries, thus fostering country growth.

Competitive Market Share

Major market players in Asia Pacific Guidewires Market are Boston Scientific Corporation, Stryker Corporation, Cardinal Health and Cook Group. Companies undertake various strategies such as geographic expansions, mergers, new product launch, collaborations, acquisitions, to strengthen their market share. For instance, in May 2019, Asahi Intecc Co., Ltd announced an establishment of new branch office in Taiwan. This expansion will increase the company’s local sales and marketing capabilities, thus fostering its market growth.

Asia Pacific Guidewires Market Background

Guidewires are developed and designed for providing reliability, flexibility and performance during the surgical procedure. There has been huge technological advancement in usage and innovation of guidewires since many years. Major market players are investing for technology advancement in guidewires for ease of access and flexibility. All this factor makes the surgical procedure easy during minimal invasive therapy. This has impacted the growth of the market.