Guidewires are
flexible tubes used to guide a catheter to a diseased artery in the heart. They
are used for the diagnosis of cardiovascular diseases. It will face huge demand
due to the recent trend of minimally invasive procedures. Benefits of these
procedures such as fast recovery, reduced hospital stay, and a painless
surgical experience will favor the guidewires market.
The growing geriatric
population and presence of prevalent coronary diseases are factors that can
result in increased demand. The guidewires market is projected to grow at a
rapid rate from 2016 to 2024 (forecast phase). Reservations by reimbursement
companies will hamper the market growth.
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Coronary, peripheral,
neurovascular, and urology guidewires are the 4 products currently offered in
the market. All these products will be of prominent use in the medical sector
in the years ahead. In 2013, Terumo Corporation dominated the peripheral
guidewires market on account of its expansive product portfolio. Additionally,
prominent players of neurovascular guidewires include ASAHI INTECC and Codman
Neurovascular.
Regions include North
America, Latin America, Asia Pacific, Europe, and Middle East & Africa
(MEA). North America will lead the guidewires market over the next eight years.
This can be attributed to the advanced health infrastructure and cardiovascular
and neurovascular diseases in the region. Presence of large manufacturers and
their respective specialty products will also favor the regional market growth.
Asia Pacific will be the fastest growing market, owing its growth to the
economies of China and India.
Research and
development play a key role pertaining to the growth of the global market. The
companies involved have tried to create cost-effective products to prevent any
product recalls. Tip shape retention and flexibility are the prime requirements
of health practitioners while handling guidewires. Well-known players in the
market are ASAHI INTECC, Terumo Corporation, Boston Scientific Corporation, and
Abbott Laboratories.
New product launches
and collaborations with healthcare practitioners are a common strategy followed
by these players. For instance, Boston Scientific has launched Safari preshaped
TAVI guidewires, Fathom Steerable Guidewires, choice Floppy guidewires, Journey
Guidewire, and Kinetix Guidewires. The Fathom series has advanced micro
fabrication technology which can be used to treat tortuous vasculature. Safari
series can retain its shape and comes in three sizes.
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