Coronary Guidewires Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Material (Nitinol, Stainless Steel, Others), By Coating and Geography.

Market Snapshot

Coronary Guidewires Market Overview
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 5.1 %
Coronary Guidewires Market Major Players

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Market Overview

The Coronary Guidewires Market is expected to register a CAGR of 5.1% during the forecast period. Coronary guidewires are specialized wires which are used in angioplasty procedures to introduce and position balloon catheters and other devices within the coronary system and they also facilitate the alignment of interventional devices and may also function as a measuring tool. These guidewires have the properties of steerability, traceability, flexibility and opacity. Coronary guidewires are selected based on the surgeon’s experience, catheter use, vessel anatomy and lesion morphology. Majority of the people opt for minimally invasive surgeries due to less post-operative pain, minimal cuts or stitches, shorter duration of hospital stay and patients need not visit the hospital frequently. As minimally invasive surgeries which are carried out with the help of guidewires are increasing, the demand for guidewires is increasing worldwide. According to World Health Organization (WHO), globally cardiovascular diseases (CVDs) are the number 1 cause of death, an estimated 17.9 million each year suffer with cardiovascular diseases. Four out of 5 cardiovascular deaths are due to strokes and heart attacks, and one third of deaths occur prematurely in people under 70 years of age. Increasing prevalence of cardiovascular and renal diseases, rise in number of interventional diagnostic procedures and growing demand for minimally invasive surgeries are the key driving factors in coronary guidewires market.

Scope of the Report

Coronary guidewires are specialized wires which are used in angioplasty procedures to introduce and position balloon catheters and other devices within the coronary system and they also facilitate the alignment of interventional devices and may also function as a measuring tool. Coronary Guidewires Market are segmented by Material, Coating and Geography.

By Material
Nitinol
Stainless Steel
Others
By Coating
Coated
Hydrophilic
Hydrophobic
Non Coated
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Stainless Steel Segment is Expected to Hold a Major Market Share in the Coronary Guidewires Market

  • Stainless steel coronary guidewires are specialized wires which are used in angioplasty procedures to introduce and position balloon catheters and other devices within the coronary system which are non-magnetic, non-staining and corrosion resistant with antibacterial properties.
  • According to the World Health Organization (WHO), globally cardiovascular diseases (CVDs) are the number 1 cause of death, an estimated 17.9 million each year suffer from cardiovascular diseases.
  • Stainless steel segment hold a significant market share and anticipated to show a similar trend over the forecast period due to non-magnetic, non-staining and high corrosion resistance coupled with antibacterial properties.
  • Increasing prevalence of cardiovascular and renal diseases, rise in a number of interventional diagnostic procedures and growing demand for minimally invasive surgeries are the key driving factors in the stainless steel segment.
Coronary Guidewires Market Key Trends

North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period

North America is expected to hold a major market share in the global coronary guidewires market due to increasing prevalence of cardiovascular and renal diseases, rise in number of interventional diagnostic procedures and growing demand for minimally invasive surgeries in this region. According to American College of Cardiology Foundation, cardiovascular disease remains the leading cause of death in the United States, estimated that 635,260 cardiac deaths in the year 2016. Furthermore, favorable reimbursement policies and presence of well-established healthcare infrastructure is fueling the growth of the overall regional market to a large extent.

Coronary Guidewires Market Growth Rate

Competitive Landscape

The Coronary Guidewires Market is consolidated competitive and consists of few major players. In terms of market share, few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Abbott Laboratories, Terumo Medical Corporation, Boston Scientific Corporation, Cardinal Health, Inc, Merit Medical Systems, Integer Holdings Corporation, BIOTRONIK SE & Co. KG, Medtronic PLC, JOTEC GmbH and QXMedical, LLC.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Prevalence of Cardiovascular and Renal Diseases

      2. 4.2.2 Rise in Number of Interventional Radiology Procedures

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost of Minimally Invasive Surgeries

      2. 4.3.2 Complications Associated With Guidewire Use

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Material

      1. 5.1.1 Nitinol

      2. 5.1.2 Stainless Steel

      3. 5.1.3 Others

    2. 5.2 By Coating

      1. 5.2.1 Coated

        1. 5.2.1.1 Hydrophilic

        2. 5.2.1.2 Hydrophobic

      2. 5.2.2 Non Coated

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle-East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Abbott Laboratories

      2. 6.1.2 Terumo Medical Corporation

      3. 6.1.3 Boston Scientific Corporation

      4. 6.1.4 Cardinal Health, Inc

      5. 6.1.5 Merit Medical Systems

      6. 6.1.6 Integer Holdings Corporation

      7. 6.1.7 BIOTRONIK SE & Co. KG

      8. 6.1.8 Medtronic PLC

      9. 6.1.9 JOTEC GmbH

      10. 6.1.10 QXMedical, LLC

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Coronary Guidewires Market market is studied from 2018 - 2026.

The Coronary Guidewires Market is growing at a CAGR of 5.1% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Abbott Laboratories, Terumo Medical Corporation, Boston Scientific Corporation, Cardinal Health, Inc, Merit Medical Systems are the major companies operating in Coronary Guidewires Market.

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