Supply Chain Ecosystem Analysis now part of DBMR Reports
Market Size in USD Billion
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USD 561.59 Million |
| USD 798.64 Million | |
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Global Cardiac Guidewires Market, By Type of Product (Silicone, Microsphere, Polyether Ether Ether Ketone (PEEK), Others), End Use (Hospitals, Cardiac Centers, Ambulatory Surgical Centers, Others) – Industry Trends and Forecast to 2029.
According to the National Center for Biotechnology Information, coronary angiography and Percutaneous Coronary Intervention (PCI) volumes in 2021 will be 64% lower than in April 2019. However, the industry is expected to grow significantly during the forecast period due to the high prevalence of chronic diseases, increased demand for improved healthcare systems among the geriatric population, well-established healthcare facilities, and technological advancements.
Data Bridge Market Research analyses that the cardiac guidewires market which was USD 13 billion in 2021, would rocket up to USD 24.06 billion by 2029, and is expected to undergo a CAGR of 8% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type of Product (Silicone, Microsphere, Polyether Ether Ether Ketone (PEEK), Others), End Use (Hospitals, Cardiac Centers, Ambulatory Surgical Centers, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Abbott (U.S.), Boston Scientific Corporation (U.S.), Maquet Medical System USA (Germany), Medtronic (Ireland), Sorin Corporation (Italy), Terumo Medical Corporation (Japan), Biosense Webster Inc. (U.S.), BIOTRONIK SE & Co KG (Germany), Cordis (U.S.)
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Market Opportunities
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Market Definition
A needle inserts a thin, flexible wire called guidewire into the body. They are used to guide catheters during catheterization. A guidewire is initially placed into the artery during the cardiac catheterization procedure, then a catheter. The catheterization technique is made more easier by the use of guidewires. Stainless steel is typically used to make guidewires. Guidewires are typically utilized for interventional or diagnostic procedures.
Drivers
The risk of cardiac arrest is much higher in those over 40 years, and the prevalence of cardiac illnesses has significantly increased worldwide. Additionally, the overall market growth contributed partially through the sales of cardiac guidewires. Thus, the growing prevalence of various chronic conditions is the major driver behind the growth of the cardiac guidewires market.
The materials used in guidewires are important because they provide several benefits. The nitinol alloy material (nickel and titanium) enables guidewire manufacturers to achieve unique phase transformation properties when subjected to temperature changes, external forces and mechanical loading. This material also has better memory and super elasticity because it retains its structure after significant strain deformation. When compared to other guidewire materials such as stainless steel and polymers, nitinol has superior biocompatibility, elongation, visibility, and radiopacity (radio-density) under X-ray fluoroscopy.
The favourable characteristics and properties of nitinol have led to the high adoption of this material in the production of vascular guidewires. Therefore, the rise in the use of nitinol material in guidewires will drive market growth.
Opportunities
Globally rising cardiovascular disease cases are fuelling the growth of the cardiac guidewires market throughout the forecast period. For instance, according to a research released by the World Heart Federation, 80.0% of deaths in low- to middle-income nations occurred in 2018 as a result of cardiovascular disorders. Similar to this, the World Health Organization (WHO) reports that around 17.9 million deaths worldwide in 2018 will be attributable to CVDs. As a result, it is projected that these variables will increase demand for cardiac catheterization, angioplasty, and other interventional treatments, which will therefore increase demand for cardiac guidewires.
Restraints/Challenges
Lack of skilled professionals and high costs of treatment will obstruct the market's growth rate.
This cardiac guidewires market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cardiac guidewires market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
The COVID-19 pandemic had a negative impact on the global cardiac guidewires market initially in 2020 due to global economic recession led by COVID-19. However, the market is anticipated to witness recovery in 2021, and show stable growth for guidewires in the coming future. The unusual COVID-19 epidemic had a detrimental effect on the expansion of the guidewires business worldwide. Due to the restrictions on hospital visits during the pandemic, which decreased diagnosis and treatment during the outbreak, guidewires demand fell substantially. All elective surgeries requiring catheterization were also immediately postponed to safeguard the safety of the medical staff and the patients. In addition, the restrictions on movement and distribution channels had a severe impact on guidewires accessibility. As a result, producers turned to online sales channels, which are anticipated to revive the market in the years following COVID-19.
The cardiac guidewires market is segmented on the basis of product and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
End Use
The cardiac guidewires market is analysed and market size insights and trends are provided by country, product and end-user as referenced above.
The countries covered in the cardiac guidewires market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the cardiac guidewires market owing to advancement in technology and increasing prevalence of cardio vascular diseases.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to rising economies such as India, and China whereas due to changing lifestyle has increased cases of cardiac surgeries.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The cardiac guidewires market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for cardiac guidewires market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the cardiac guidewires market. The data is available for historic period 2010-2020.
The cardiac guidewires market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cardiac guidewires market.
Some of the major players operating in the cardiac guidewires market are:
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Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.