Global peripheral guidewire market expected to reach USD 871.2 million in 2021 growing at a CAGR of 7.10% between 2016 and 2021.
Sarasota, FL -- (SBWIRE) -- 01/04/2018 -- Zion Market Research has published a new report titled "Peripheral Guidewire Market for Diagnostics and Interventional Application - Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021". According to the report, global peripheral guidewire market was valued at USD 578.9 million in 2015 and is expected to reach USD 871.2 million in 2021 growing at a CAGR of 7.10% between 2016 and 2021.
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Guidewires are an essential part of the vascular intervention. They are used to access target vessels, cross lesions, and deliver definitive interventional therapy. Peripheral guidewires are designed to navigate vessels to reach a lesion or vessel segment. Once the tip of the device arrives at its destination, it acts as a guide so that larger catheters can rapidly follow for easier delivery to the treatment site. This is an advanced technology in medical industry which is very useful for aged people. It is used in minimally-invasive surgeries which involves much smaller incisions, than the corresponding open surgery procedure. Peripheral guidewires play very important role in the field of peripheral vascular surgeries by providing fast and effective results.
Peripheral guidewire market is mainly driven by increasing demand for minimally invasive surgeries. Another 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.
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Peripheral guidewire market is segmented on the basis of application and region. On the basis of application the peripheral guidewire market is segmented into diagnostics and interventional. North America dominated the global peripheral guidewire market in 2015, followed by Europe. Price for various healthcare services continues to increase throughout the United States and Europe. Patients in these regions are increasingly turning to Asian markets for medical treatments. Therefore, rising demand for medical tourism in emerging markets such as India and China is, in turn, improving healthcare infrastructure in these countries.
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Some of the key participants in this market Abbott Laboratories, Boston Scientific Corporation, Asahi Intecc, Terumo Corporation, and Cook Medical among others.
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