The market is projected to reach USD 764.0 Million by 2022 from USD 605.2 Million in 2017, at a CAGR of 4.8%.
Northbrook, IL -- (SBWIRE) -- 02/15/2018 -- According to a new market research report "Guidewires Market by Material (Nitinol, Stainless Steel, Hybrid), Product (Surgical, Diagnostic (Hydrophilic, Hydrophobic)), Application (Cardiology, Vascular, Neurology, GIT, ENT, Urology, Oncology), End User (Hospital, ASCs) - Global Forecast to 2022", published by MarketsandMarkets™, the report studies the global guidewires market over the forecast period of 2017 to 2022. The market is projected to reach USD 764.0 Million by 2022 from USD 605.2 Million in 2017, at a CAGR of 4.8%.
Browse 66 tables and 39 figures spread through 156 pages and in-depth TOC on "Guidewires Market"
Early buyers will receive 10% customization on reports
Factors such as the rising adoption of minimally invasive surgical procedures across major countries, rising prevalence of target diseases and the increasing applications of guidewires are driving the growth of the market.
Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalyst.asp?id=8118028
Based on material, the nitinol guidewires segment is estimated to have the largest share of the market in 2017.
Based on material, the market is categorized into nitinol guidewires, stainless steel guidewires, and hybrid guidewires. The nitinol guidewires segment accounted for the major share of the market owing to the increasing applications of nitinol guidewires, the growing number of target medical procedures that utilize nitinol guidewires and growing patient preference for minimally invasive surgeries.
Based on product, the surgical guidewires segment is expected to witness the highest growth during the forecast period.
On the basis of product, the guidewires market is categorized into diagnostic guidewires (further subsegmented into hydrophilic and hydrophobic diagnostic guidewires) and surgical guidewires (further subsegmented into hydrophilic and hydrophobic surgical guidewires). In 2017, the surgical guidewires segment is expected to account for the largest share of the market. It is also expected to register the highest CAGR during the forecast period. This can be attributed to availability of reimbursements for vascular treatment procedures across developed countries, increasing number of surgical treatment for coronary, peripheral & neurovascular diseases, and the growing regulatory mandate implemented across developed countries related to the prevention of healthcare associated infections (HAI).
Based on end user, the hospitals, diagnostic centers, and surgical centers segment is expected to witness the highest growth during the forecast period.
Based on end user, the market is segmented into hospitals, diagnostic centers, and surgical centers; ambulatory care centers; and research laboratories & academic institutes. The hospitals, diagnostic centers and surgical centers segment is expected to register the highest CAGR during the forecast period. This is attributed to ongoing technological advancements in the field of minimally invasive or image-guided medical procedures and growing availability of healthcare reimbursements across major countries for minimally invasive medical procedures that covers guidewires.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownload.asp?id=8118028
North America is expected to dominate the guidewires market in 2017.
Geographically, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to account for the largest share of the market in 2017, followed by Europe. Factors such as strong market presence of key OEMs (that replicates into easy availability of guidewires) and the large target patient population base (those undergoing minimally invasive surgical procedures) are driving the growth of the North American guidewires market. However, Asia Pacific is expected to register the highest growth rate during the forecast period. This can be attributed to increasing number of surgical and diagnostic procedures performed in the region (coupled with the growing burden of target diseases) and modernization & expansion of healthcare infrastructure across key APAC countries.
Key Market Players:
Major players operating in the market include Boston Scientific (US), Abbott (US), Medtronic (Ireland), Terumo (Japan), and Cook Group (US). Other prominent players present in this market include Cardinal Health (US), Olympus (Japan), Johnson & Johnson (US), B. Braun (Germany), C.R. Bard (US), Teleflex (US), and Angiodynamics (US).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
630 Dundee Road
Northbrook, IL 60062