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APAC Guidewires Market Value to Exceed USD 351 Mn During 2020-2026

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According to the Graphical Research new growth forecast report titled “Asia Pacific Guidewires Market Value By Coating (Coated {Hydrophilic Coating, Anti-thrombogenic/Heparin Coating, Hydrophilic Coating, Silicone Coating, Tetrafluoroethylene}, Non-coated), By Material (Nitinol, Stainless Steel, Hybrid), By Application (Coronary Guidewires, Peripheral Guidewires, Urology Guidewires, Neurovascular Guidewires), By Diameter (0.014-inch, 0.018-inch, 0.025-inch, 0.032-inch, 0.035-inch, 0.038-inch), By Length (80 cm, 120 cm, 145 cm, 150 cm, 180 cm, 260 cm, 300 cm, 450 cm), By End-use (Hospitals, Ambulatory Surgical Center, Research Laboratories), Industry Analysis Report, Country Outlook (China, India, Japan, Australia, Singapore, Malaysia, South Korea, Thailand, Indonesia, Philippines, Vietnam)”, Estimated To Exceed USD 351.0 Million By 2026.

Geriatric population are prone to various chronic disease such as cardiovascular diseases (CVD) and urological disease and is the major factor driving the market growth. For instance, according to the World Bank estimates, around 27% of total population in Japan were aged 65 years and above in 2017. Similarly, in Australia the number of elderly persons aged 60 year and above is expected to grow to 8.8 million (22% of the total population) by 2057. Increasing prevalence of CVD with age and various disease treatment is expected to create opportunities for key market players operating in the market.

Minimally invasive procedures offer significant clinical advantages over conventional open procedures that will propel the Asia Pacific guidewires market. Patient preference towards minimally invasive procedures will further boost the guidewires market growth. For instance, according to the Habilite Obesity Group, approximately 36,500 Bariatric surgeries were performed annually in India. Hence, the growing preference for minimally invasive procedures will replicate into high demand for guidewires, thereby fostering the Asia Pacific market growth.

On the basis of material, the market is segmented into stainless steel, hybrid, nitinol and others. Hybrid segment accounted for USD 37.9 million in 2019 and is expected to show stable growth during the forecast time period. High growth rate is owing to various benefits of hybrid guidewires over conventional guidewires. The hybrid guidewires are made of various combination such as stainless steel with nickel and nickel with titanium among others. Moreover, they are most commonly utilized in the field of urological procedures owing to its advantages of atraumatic hydrophilic tip. Such properties associated with hybrid guidewires will drive the segmental growth.

On the basis of coating, the market is classified into non-coated and coated. The non-coated segment accounted for market share of 18.8% in 2019. Non-coated guidewires provide better tactile feel and are more controllable, as they are less likely to dissect. Non-coated guidewires require no activation by liquids to achieve the desired effect and to create wax-like surface. Moreover, conventional approach for chronic total occlusion is with non-coated guidewires that are introduced through transit or with the wire balloon catheter. Such benefits associated with non-coated guidewires will increase the demand and propel the industry growth.

Based on application, the market is segmented into urology guidewires, neurovascular guidewires, coronary guidewires, peripheral guidewires, and others. Urology guidewires accounted for USD 37.2 million in 2019 and is expected to register a growth rate of 6.7% during the forecast timeframe. Urology guidewires are most common tool for endourology procedures. They are also used for various advanced procedures such as to insert a ureteral stent and to dilate the ureter or gain percutaneous access to kidney. Such advantages associated with urology guidewires will foster the segmental growth. Furthermore, availability of different types of urology guidewires will boost the segmental growth.

On the basis of diameter, the market is divided into 0.014-inch, 0.018-inch, 0.025-inch, 0.032-inch, 0.035-inch and 0.038-inches. The 0.035-inch guidewires segment recorded the market share of 38.8% in 2019 and is anticipated to dominate the market throughout the analysis time period. Larger diameter guidewires improve torque and can be utilized for straightening the vessels. The 0.035-inch guidewires offer compatibility and mechanical support during the procedures. For instance, 0.035-inch guidewires size are most commonly preferred for atherectomy procedures, thereby increasing the product demand.

On the basis of length, the market is bifurcated into 80 cm, 120 cm, 145 cm, 150 cm, 180 cm, 260 cm, 300 cm, 450 cm and others. The 300 cm guidewire accounted for market revenue of USD 48.9 million in 2019 and is expected show lucrative growth of 5.7% during the analysis time period. The 300 cm guidewires are made of polyurethane containing tungsten and a hydrophilic polymer coating (M Coat) for low friction maneuverability. The 300 cm guidewires are used in catheterization, peripheral angioplasty and subintimal angioplasty in standard & large proximal vessels. Such multiple use of 300 cm guidewires will foster the segmental growth.

By end-use, the market is segmented into ambulatory surgical center, hospitals, research laboratories and others. The ambulatory surgical center segment accounted second highest market share of 31.0% in 2019 and anticipated to show similar trend over the forthcoming years. Ambulatory surgical centers offer same day emergency care to patient with high quality services and convenience at economical cost. Most of the procedures performed in ambulatory surgical centers can cost 30% to 60% less compared to hospitals. This has surged the demand for ambulatory surgical centers. Furthermore, increasing demand for minimally invasive procedures coupled with advancements in guidewires will further boost the market growth.

The China guidewires market accounted revenue of USD 44.8 million in 2019 and is expected to show significant growth over the forthcoming years. Presence of large number of manufacturers coupled with increasing prevalence of cardiac disease will boost the local market growth. For instance, according to the World Heart federation, nearly 55% of deaths in China are due to cardiovascular disease (CVD). The report also states that, CVDs costs accounted for approximately USD 56.5 billion in 2017. Such high disease prevalence and healthcare expenditure on CVD will boost the local market growth, Furthermore, majority of hospitals in the country offers technologically advanced treatment with cutting edge equipment that will favor the market growth during the analysis timeframe.

Major market players operating in industry are Stryker Corporation, Terumo Corporation, Olympus Corporation, Abbott, Medtronic, Boston Scientific, Asahi Intecc and Biotronik among others. These market players focusing on various business strategies such as collaboration, geographic expansion to strengthen their market position. For instance, in December 2017, Terumo Corporation announced that it was establishing new manufacturing facility in Yamaguchi, Japan. The facility aimed to strengthen the production capacity interventional system and products including access to guidewires. This strategy has helped company to expand its production capacity and customer base.

Asia Pacific Guidewires Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2015 to 2026, for the following segments:

Market Share, By Material, 2015-2026 (USD Million and 000’ Units)

  • Nitinol
  • Stainless Steel
  • Hybrid
  • Others

Market Size, By Coating, 2015-2026 (USD Million)

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

Market Value, By Application, 2015-2026 (USD Million and 000’ Units)

  • Coronary Guidewires
  • Peripheral Guidewires
  • Urology Guidewires
  • Neurovascular Guidewires
  • Others

Market Forecast, By Diameter, 2015-2026 (USD Million and 000’ Units)

  • 0.014 inch
  • 0.018 inch
  • 0.025 inch
  • 0.032 inch
  • 0.035 inch
  • 0.038 inch

Market Growth, By Length, 2015-2026 (USD Million and 000’ Units)

  • 80 cm
  • 120 cm
  • 145 cm
  • 150 cm
  • 180 cm
  • 260 cm
  • 300 cm
  • 450 cm
  • Others

Market Share, By End-use, 2015-2026 (USD Million)

  • Hospitals
  • Ambulatory surgical center
  • Research laboratories
  • Others

The above information is provided for the following countries:

  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Singapore
    • Malaysia
    • South Korea
    • Thailand
    • Indonesia
    • Philippines
    • Vietnam
    • Others