The global Guide Wires market was valued at US$ 1,102 million in 2020 and is expected to reach US$ 1,785 million by the end of 2027, growing at a CAGR of 7.1% during 2021-2027.
A guidewire is a long and flexible spring that assists the introduction and placement of implantable medical devices into a patient's body. Coronary guide wire and peripheral guide wire, are used for cardiovascular diseases, peripheral artery disease (PAD), peripheral vascular diseases (PVDs), abdominal aortic aneurysms (AAA) and carotid artery stenosis (CAS).
Peripheral guidewires have multiple layers which includes central core, distal tip and outer coating. Central core is generally made up of stainless steel or Nitinol which posses’ superior torque characteristics. Distal tip has variable length and it is made up of radio-opaque material e.g. platinum or iridium alloys and provides flexibility during operations. Peripheral guidewires are coated with a polymer, such as silicone or polytetrafluoroethylene (PTFE), to increase lubricity. Peripheral guidewires are used during the percutaneous transluminal angioplasty and angiography for guiding the stents or catheters to the site of action in the peripheral vasculature.
Global Guide Wires Market: Drivers Analysis
Peripheral guidewire market is mainly driven by increasing demand for minimally invasive surgeries. Other important factor that propels the market growth is increasing worldwide geriatric population. Moreover, growing incidences of neurological, cardiovascular and urology disorders also fuel the market growth. It is important for patients to fully understand the risks of the procedure undergoing laparoscopy and other cardiovascular, neurovascular surgeries. Some risk factors associated with of minimally invasive surgery and preference given to open surgery may hamper the growth of this market.
Global Guide Wires Market- Key Players
Terumo Medical, Abbott, Asahi Intecc, Boston Scientific Corporation, Cardinal, Integer, Medtronic, Cook Medical, TE Connectivity, Merit, SP Medical, Epflex, Shannon MicroCoil, Acme Monaco, Infiniti Medical, Custom Wire Technologies, Biotronik, Hanaco, Lepu Meidcal, Shenzhen Yixinda are analyzed in the report. This market concentration is relatively high, top 5 took up more than 67% of the global market in 2020. Terumo Medical, Abbott Vascular, Asahi Intecc, Boston Scientific Corporation etc. which have leading technology and market position, are well-known suppliers around the world.
Global Guide Wires Market: Type Analysis
Guide Wires are mainly classified into the following types: straight guide wire, angled guide wire, j-shape guide wire. Angled guide wire is the most widely used type which takes up about 78.7% of the total sales in 2020. Angled type include guidewire 45°Angle, 70 °Angle, 90°Angle, 90°/45° Double Angle, etc.
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