According to the Graphical Research new growth forecast report titled Europe Guidewires Market Size Estimated To Exceed USD 355.0 Million By 2026. Cardiovascular diseases (CVD) is one of the major causes of mortality. Increasing pervasiveness of various lifestyle disorder will propel the Europe guidewires market. Lifestyle diseases such as dyslipidaemia, diabetes mellitus, hypertension and obesity/overweight leads to development of cardiovascular disease (CVD). For instance, according to the World Health Organization (WHO), around 17.9 million people die every year due to cardiovascular disease. Thus, growing prevalence of such diseases has led to increased usage of guidewire during the procedures, thereby supplementing the market size.
Growing preference for minimally invasive procedures will propel the Europe guidewires market. Patients suffering from various chronic disorders undergo minimally invasive techniques to experience less pain, reduced costs of treatment and recovery time. Minimally invasive procedures reduce scarring, blood-loss, and post-operative complication. Such advantages associated with minimally invasive surgeries will drive the guidewires market growth. However, risk associated with guidewire such as puncture of vessels and cardiac chamber may affect the market growth.
On the basis of material, the guidewires market is segmented into stainless steel, hybrid, nitinol and others. Nitinol segment accounted for USD 83.5 million in 2019. Nitinol guidewires offer good flexibility and durability in tortuous anatomy. Nitinol guidewires are used in application of urological sector in sounding of tubular hollow organs and coaxial insertion of devices. Moreover, nitinol guidewires are available in expanded range with stiff and flexible shafts in various sizes and lengths. Such aforementioned factors will drive segmental growth.
On the basis of coating, the guidewires market is classified into non-coated and coated. The non-coated segment accounted for market share of 19.0% in 2019. This is due to the minimal adoption of traditional guidewires owing to the introduction of hybrid guidewires. However, non-coated guidewires have few limitations when compared to the novel hybrid guidewires. They increase the trackability and reduce the friction of the wire. Such factor will increase the demand and augment the market size.
Based on application, the guidewires market is segmented into urology guidewires, neurovascular guidewires, coronary guidewires, peripheral guidewires, and others. Coronary guidewires dominated the market in terms of revenue in 2019 and is expected to register a growth rate of 4.2% during the forecast timeframe. High growth rate is owing to increasing prevalence of cardiovascular disease. Cardiovascular diseases are one of the leading causes of death in the Europe and accounted for 72% deaths in 2017. The increase in cardiovascular diseases are due to the unhealth lifestyle such as high intake of cholesterol rich foods and smoking. Hence, adoption of suboptimal and sedentary lifestyle habits will eventually lead to high prevalence of cardiovascular diseases, thereby fostering the market growth.
On the basis of diameter, the guidewires market is divided into 0.014-inch, 0.018-inch, 0.025-inch, 0.032-inch, 0.035-inch and 0.038-inches. The 0.025-inch guidewire is expected to show lucrative growth of 4.3% during the study period. 0.025-inch diameter guidewire are also available in hydrophilic coating. It is available in stiff and regular configuration that promotes advancement during the usage. Furthermore, it allows secure control during sub-selecting angulated and distal branch vessels. Aforementioned factors will increase the product demand and spur the segmental growth.
On the basis of 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. The 180 cm guidewire accounted for market revenue of USD 67.9 million in 2019 and is expected dominate the market during the analysis time period. The 180 cm guidewire are effective, safe, feasible and exchangeable that decreases the guidewire-related complication. It is used in coronary intervention that reduces fluoroscopy time and increases the procedure safety rate. Such associated benefit will boost the segmental growth.
On the basis of end-use, the guidewires market is segmented into ambulatory surgical center, hospitals, research laboratories and others. The ambulatory surgical center segment accounted market share of 30.6% in 2019. The segmental growth is attributed to higher preference of ambulatory surgical centers, as they offer high-quality and cost-effective treatments. Moreover, ambulatory surgical centers do not require overnight stay after the procedure. Also, these centers provide easy access and more convenience to the outpatients. Such advantages will further augment the segmental share.
The UK guidewires market accounted for USD 34.7 million in 2019 and is anticipated to show steady growth over the forthcoming years. Adoption of percutaneous coronary intervention procedure is increasing in the country over the last few decades. Growing demand for minimally invasive surgical procedures coupled with advanced treatment procedures will drive local guidewires market. Furthermore, reimbursement scenario and availability of funding for R&D activities will drive the UK guidewires market growth.
Major market players operating in guidewire industry are Stryker Corporation, Cardinal Health, Olympus Corporation, Abbott, Medtronic, Boston Scientific and Biotronik among others. Market players opt for various inorganic strategies such as geographic expansions and product launch to strengthen their competitive edge over their peers. For instance, in May 2016, St Jude Medical (Abbott) announced the European launch and CE mark approval for its PressureWire X Guidewire. The product enable health professionals to simplify their workflow during the procedures. This launch enabled company to add value their existing product portfolio.
Europe 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)
- Stainless Steel
Market Size, By Coating, 2015-2026 (USD Million)
- Hydrophilic coating
- Anti-thrombogenic/ Heparin coating
- Hydrophobic coating
- Silicone coating
- Tetrafluoroethylene (TFE coating)
Market Trends, By Application, 2015-2026 (USD Million and 000’ Units)
- Coronary Guidewires
- Peripheral Guidewires
- Urology Guidewires
- Neurovascular Guidewires
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 Value, 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
Market Growth, By End-use, 2015-2026 (USD Million)
- Ambulatory surgical center
- Research laboratories
The above information is provided for the following countries: