Industry Trends

Europe Guidewires Market share was valued at USD 254.0 million in 2019 and is expected to witness 4.8% CAGR from 2020 to 2026.

Guidewire is a spring or wire used to guide the positioning of catheters during minimally invasive procedures.  The guidewires are also used during central venous catheter insertions. The technique involves insertion of needle into vein and advancing the guidewire through needle. Furthermore, growing number of geriatric population base across the region will boost industry expansion.
 

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Growing number of chronic conditions coupled with unhealthy lifestyle will drive the guidewires market in the future. Unhealthy habits such as smoking and alcohol consumption will drive the incidence of chronic disease. According to the World Health Organization (WHO) estimates, about 40 million individuals are suffering from chronic disease in Germany. Such growing number of patient pool with chronic disease will drive the demand for guidewires in surgical procedures.

Increasing adoption of minimally invasive surgery will boost the guidewire market in the region. For instance, according to the European Cardiovascular Disease report, nearly 11.5 million and 6.1 million new cases of CVD were recorded in Europe and European Union, respectively. This has led to an increase in adoption of guidewires, therefore driving the regional market growth. Furthermore, surgeons have adopted minimally invasive surgeries at a wide range. Minimally invasive surgery offers several benefits to patients such as smaller incisions and scarring along with reduce pain and less time to recover. Such aforementioned factors will drive the market growth. However, dearth of skilled professionals in developing economics could limit the market expansion in the short run.

Europe Market, By Material

By material, the guidewires market is segmented into stainless steel, hybrid, nitinol and others. Stainless steel segmented accounted for USD 57.3 million in 2019. Stainless steel guidewire are used during urological procedures for replacement, tracking, placement and exchange of medical devices during medical procedures. The guidewire offer benefits such as flexibility of its longitudinal axis for maintaining torque and trackability during the procedure. Such benefits associated with stainless steel guidewires will increase the demand and propel the segmental growth.

Europe Market, By Coating

By coating, the guidewires market is segmented into non-coated and coated. The coated segment is further sub-divided into silicone coating, hydrophobic coating, heparin coating/anti-thrombogenic and tetrafluoroethylene coating. Heparin coating/anti-thrombogenic coating is expected to show lucrative growth of 4.4% during the analysis timeframe. Anti-thrombogenic coating prevents blood clots during the procedures, as the blood clot may lead to heart attack, anemia, stroke and other complication. Moreover, primary benefit of the coating is to improve clinical outcomes and patient safety by decreasing the adherence of blood components on the surface of the device. Thus, aforementioned factors will drive the segmental growth. 

Europe Market, By Application

On the basis of application, the guidewires market is classified into coronary guidewires, peripheral guidewires, neurovascular guidewires, urology guidewires and others. Neurovascular guidewires segment is anticipated to show significant growth of 5.3% across the forecast timeframe. Neurovascular guidewires are used in conjunction with microcatheters that are used to place stents or coils at intracranial location. These guidewires are used during the treatment of aneurysms and cerebral arteriovenous malformations. Furthermore, guidewires are inserted into patient body with a small incision through vascular system to targeted areas. Microcatheter further are threaded over guidewire to the targeted treatment area. Such applications of neurovascular guidewires will augment the market growth.

Europe Market, By Diameter

On the basis of diameter, the guidewires market is segmented into 0.014-inch, 0.018-inch, 0.025-inch, 0.032-inch, 0.035-inch and 0.038-inches. Guidewire of 0.032 inch diameter accounted for USD 3.6 million in 2019. 0.032-inch guidewire are used for percutaneous introduction of catheters. They are available in stiff and standard shaft for configuration. 0.032-inch diameter guidewire provides flexibility and mechanical support during the procedure. Aforementioned factors will increase the demand of guidewire during the procedure that in turn will boost the segmental growth.

Europe Market, By Length

On the basis of length, the guidewires market is divided into 80 cm, 120 cm, 145 cm, 150 cm, 180 cm, 260 cm, 300 cm, 450 cm and others. 450 cm guidewires accounted for USD 8.9 million in 2019 and is expected to show significant growth of 4.4% during the forecast period. 450 cm guidewire are available in nitinol shaft used for manipulation capabilities and wire control. For instance, Hydra Jagwire is used with Rx locking device. This guidewire can be locked and unlocked whenever it is required during the procedure. Such application will increase the product demand. Furthermore, it also facilitates biliary therapy, contrast injection and device exchange. Such multiple use of 450 cm guidewires will propel the segmental growth.

Europe Market, By End-use

By end-use, the guidewires market is bifurcated into hospitals, ambulatory surgical center, research laboratories and others. Research laboratories accounted for market share of more than 13% in 2019. Increasing population has demanded for more research related to guidewires and rising incidence of target diseases will boost market growth during the forecast timeframe. Furthermore, research laboratories carry out the research processes and support the biopharmaceutical companies with advancement in products including guidewires. This has led companies to develop advance guidewire that include 2-in-1 guidewire. Such intensive R&D activities will be conducive to the segmental growth.

Europe Market, By Country

Germany guidewire market is expected to grow at a stable pace of 4.5% CAGR during the forthcoming time period. Key industry manufacturers of surgical instruments are present in country that will supplement the guidewires industry growth in the future. The growing demand for minimal invasive surgical procedures coupled with advanced treatment procedures will drive Germany guidewires market growth. Furthermore, the country has well established infrastructure, medical equipment and availability of latest technologies that will increase the product demand and expand the local market.

Competitive Market Share

Major market players operating in Europe Guidewires Market include Stryker Corporation, Cardinal Health, Olympus Corporation, Abbott, Medtronic, Boston Scientific and Biotronik among others. Companies undertake various strategies such as acquisitions, geographic expansions, mergers, collaborations, new product launch to strengthen their market position. For instance, in April 2020, Boston Scientific announced global launch for its new Kinetix Guidewire, used for percutaneous coronary interventions (PCI) procedures. The product provides exceptional torque and flexibility. This strategy has expanded firm’s product portfolio and increased the revenue growth.

Europe Guidewires Market Background

Guidewires provide flexibility that makes the procedure less complex and more effective. Guidewires are used in surgical procedure for delivering better performance during the surgery. Due to tremendous swift in adoption of minimally invasive surgeries, there is an increase in demand of guidewire in medical procedure in treatment and surgery. This had led companies to develop more advance and useful guidewires for medical applications, thus foresting the overall market growth.