Coronary Guidewires Market Size

Coronary Guidewires Market Analysis

The coronary guidewires market is expected to register a CAGR of 5.1% over the forecast period.

• The COVID-19 pandemic had a significant impact on the market. The market witnessed a slight negative impact during the initial days of the pandemic as the number of patients attending emergency departments witnessed a decrease during the pandemic. For instance, as per the NCBI article published in May 2022, there was a substantial decrease in the number of patients attending emergency departments with acute coronary syndromes (ACS), and there has been a considerable rise in early mortality or complications during the COVID-19 pandemic. The immediate percutaneous coronary intervention was performed less frequently on ACS patients in the COVID-19 group compared to the pre-COVID-19 group. However, during the pandemic, cardiovascular complications increased among COVID-19 patients, which positively impacted the market during later times. For instance, according to an NCBI article published in June 2022, patients with COVID-19 commonly have manifestations of heart disease, including signs of myocardial injury. The main causes of myocardial injury in patients with COVID-19 include hypoxic injury, stress cardiomyopathy, ischemic injury caused by cardiac microvascular dysfunction, small vessel cardiac vasculitis, endothelins, or epicardial coronary artery disease, and many more. All these disorders and related health issues increase the cardiac diseases in COVID patients. Thus, initially, the market witnessed a slight drop; however, with the rising patient inflow and resumption of cardiac procedures, the market gained traction and is expected to maintain an upward trend over the forecast period.
• The increasing prevalence of cardiovascular diseases and the rise in several interventional radiology procedures are the major drivers for the market. For instance, according to the data published by the British Heart Foundation in August 2022, in the United Kingdom, over 7.6 million people lived with heart or circulatory disease in 2021. According to an NCBI research study published in August 2022, cardiovascular diseases were highly prevalent in the rural areas of South Asia, with an incidence of 5.41 per 1,000 person-years as compared to 4.73 per 1,000 person-years in urban areas, and the incidence was highest among the males as compared to females. Thus, the increasing prevalence of cardiovascular diseases may propel the demand for coronary guidewires, owing to which the coronary guidewires market is anticipated to witness considerable growth over the forecast period,
• The increasing preference towards minimally invasive treatment and favorable initiatives by the key players are also driving the market growth. For instance, according to the NCBI research article published in February 2022, in the studied population, about 57.0% of the patients who preferred minimally invasive treatment made their decision under the influence of the healthcare professionals as they recommended minimally invasive treatment and reported less perceived disadvantages following their treatment. Such studies depict the higher acceptance of healthcare professionals and patients of minimally invasive procedures over traditional procedures. Similarly, the NCBI study published in June 2022 reported that in Germany, 2,834 aortic valve procedures, accounting for nearly 36.8% of the total aortic valve procedures, and 3,369 mitral valve operations, accounting for nearly 55.7% of the total mitral valve operations were performed via minimally invasive access in 2021. Therefore, increasing the adoption of minimally invasive procedures may positively impact the market growth.
• However, the high cost of minimally invasive surgeries and complications associated with guidewire use are expected to restrain the growth of the market over the forecast period. In January 2023, Deepwise Technology Co. Ltd.'s artificial intelligence (AI) device mammography screening software was approved in China. The company claims this is the first and only AI medical device approved for breast cancer in China.
• In September 2022, Shenzhen Anke's new generation of Xinxin digital mammary gland machine was approved for listing in China. The product has digital mammography, digital mammography tomography, and digital mammography breast tomosynthesis 2D imaging function.