According to the Graphical Research new growth forecast report titled North America Guidewires Market size is set to exceed USD 409.0 million by 2026. Growing number of chronic conditions in North America will drive the guidewires market in the future. Unhealthy habits such as smoking, alcohol consumption, coupled with a sedentary lifestyle, will drive the incidence of chronic disease. According to Government of Canada, in 2018, about 44% of adults suffered from chronic disease in Canada. Such growing number of patient pool with chronic disease will drive the demand for guidewires in surgical procedures. Furthermore, minimally invasive techniques are mostly preferred by patients due to limited blood loss, faster recovery and short hospital stay. Thus, a rising preference towards minimally invasive techniques will drive the guidewires market expansion.
Favorable reimbursement scenario in the U.S. will drive the industry growth. The government is strengthening the reimbursement policies for guidewires, this could increase the adoption rate. Moreover, with growing technological sophistication and manufacturer initiatives to reduce the price of guidewires, the cost of guidewires is expected to decrease further. Government policies such as the Center for Medicare and Medicaid Services in the U.S., provides financial assistance to U.S. citizens for surgical procedures by reimbursing the cost of surgery. This will augment the market expansion over the forecast period.
By material, the guidewires market is segmented into hybrid, stainless steel, nitinol and others. Stainless steel segment accounted for USD 68.3 million in 2019 and is expected to grow during the forecast period. Stainless steel guidewires are used to tract and assist in exchange, replacement and placement of medical devices during surgical procedure. Stainless steel guidewire provide better column support and torque. Such factors will increase the product demand and propel the segmental growth
Based on coating, the guidewires market is classified into coated and non-coated. Non-coated guidewires segment accounted for about 19.0% of the total market share in 2019. This is due to the minimal adoption of traditional guidewires owing to the introduction of hybrid guidewires. Furthermore, non-coated guidewires have few limitations when compared to the novel hybrid guidewires. For instance, traditional guidewires had relatively poor tip support and also lacked durability that further minimized its adoption in healthcare settings.
By application, the guidewires market is divided into coronary guidewires, peripheral guidewires, urology guidewires, neurovascular guidewires and others. The peripheral guidewire is expected to grow at 4.5% during the analysis timeframe. Peripheral guidewire is an integral part of vascular intervention. Peripheral guidewire is utilized to access cross lesions, target vessels and deliver interventional therapy. They improves device delivery, crossing success, reduce cost and risk of vascular injury. Aforementioned factors will increase the product demand and segment share.
Based on 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-inch. The 0.014-inch guidewire held market share of 33.9% in 2019 and is expected to show similar growth during the analysis timeframe. The 0.014-inch guidewires are designed for treating arteries below the knee. These wires provide efficient transmission of torque energy for precise response and control. The wires are suitable for the majority of interventions and also reduce the tip load. Such factors will boost the product demand.
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. The 180 cm guidewire is expected to reach market revenue of USD 116.1 million by 2026. The 180 cm guidewire are used with rapid exchange catheters, require less space and allow for improved opacification of the artery and contrast injections. Furthermore, these 180 cm guidewires are used in femoral and radial artery access. Aforementioned factors will propel the segment share.
By end-use, the guidewires market is segmented into ambulatory surgical center, hospitals, research laboratories and others. The ambulatory surgical centers segment accounted for USD 93.7 million in 2019. High growth rate is owing to rising incidence of various cardiovascular diseases in the region. For instance, according to the American Heart Association, Ischemic heart disease is one of the most prevalent disease in North America. This has led to increase in adoption of guidewires in surgical procedures, thereby fostering the North America guidewire market growth. Furthermore, ambulatory surgical centers provide easy access and more convenient to receive care without inpatient admissions. Such advantages will further foster the industry growth.
The U.S. guidewire market accounted for USD 267.7 million in 2019 and anticipated to show similar growth during the forecast period. Factors responsible for regional growth are growing cardiovascular disorders due to adoption of sedentary and unhealthy lifestyle. This may cause coronary heart disease and other related diseases. Furthermore, availability of advanced treatment procedures and cutting-edge medical device technologies will serve as major rendering factor for growth of North America guidewire market.
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 & acquisitions, geographic expansions and new product launch to strengthen their market share. For instance, in April 2018, Asahi Intecc Co, Ltd started its direct sales of percutaneous transluminal coronary angioplasty (PTCA) guidewires in the U.S., which was previously only sold by Abbott Laboratories in the U.S. This strategy enabled company to expand their customer base.
North America 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 Size, By Material, 2015-2026 (USD Million and 000 Units)
- Stainless Steel
Market Trends, By Coating, 2015-2026 (USD Million)
- Hydrophilic coating
- Anti-thrombogenic/ Heparin coating
- Hydrophobic coating
- Silicone coating
- Tetrafluoroethylene (TFE coating)
Market Forecast, By Application, 2015-2026 (USD Million and 000 Units)
- Coronary Guidewires
- Peripheral Guidewires
- Urology Guidewires
Market Share, 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 Units)
- 80 cm
- 120 cm
- 145 cm
- 150 cm
- 180 cm
- 260 cm
- 300 cm
- 450 cm
Market Share, By End-use, 2015-2026 (USD Million)
- Ambulatory surgical center
- Research laboratories
The above information is provided for the following region and countries: