The global market size for guidewires is estimated to be USD 2,491.0 million in 2021 and is expected to witness a CAGR of 7.56% during the forecast period. Increase in global cases of target disease is a key driver for the growth of the global guidewires market. Additionally, persistent new product launches by major guidewires manufacturers and favorable medical compensations for guidewires in developing countries are some of the other drivers propelling the market growth. Nevertheless, expenditure cuts & high excise duties and stringent regulatory procedures related with the manufacturing of new products are expected to restrain the global market growth.

By Raw Materials

Based on raw materials, the market is segmented into stainless steel, nitinol, and others. In 2021, the stainless-steel segment accounted for the substantial revenue share with lucrative CAGR during the forecast period. This is attributed to various features such as non-magnetic, high corrosion resistance coupled with antibacterial, and non-staining properties worldwide. Nitinol segment projected to grow at a profitable CAGR during the forecast period. This is attributed to the number of benefits offered by nitinol such as superior flexibility and twist resistance in comparison to other raw materials used in manufacturing of guidewires.

By Coating

Based on coating, the market is segmented into non-coated and coated. In 2021, the coated segment accounted for a substantial revenue share and is expected to grow with a lucrative CAGR during the forecast period. This is attributed to various advantages offered by coated guidewires such as reduced friction, reserve tactile feel, and allows easy access to blood vessels is increasing the demand for these guidewires worldwide. Non-coated segment is projected to grow at a profitable CAGR during the forecast period. This can be attributed to the introduction of innovative technologies that help in growing the demand for non-coated guidewires.

By Product

Based on product, the market is segmented as peripheral guidewires, neurovascular guidewires, coronary guidewires, and urology guidewires. In 2021, the coronary guidewires segment accounted for a substantial revenue share and is expected to grow with a lucrative CAGR during the forecast period. This is due to growing demand for minimally invasive coronary processes worldwide. The neurovascular guidewires segment is anticipated to grow at a profitable CAGR during the forecast period, due to the increasing occurrence of neurovascular diseases such as aneurysms, cerebral hemorrhage arteriovenous malformations, and stroke that affects the cerebral vascular system and spinal cord.

Regional Insights

In 2021, North America held the maximum revenue share in the global market and is expected to maintain its dominance during the forecast period. This is attributed to the rise in cases of cardiovascular diseases, increase in number of peripheral and coronary interventions, presence of major players in the region, accessibility of technologically advanced products in the region. Asia Pacific market is projected to exhibit the fastest CAGR over the forecast period owing to an increase in geriatric population, incidence of cardiovascular disease, inclination towards advanced minimally invasive surgery, and unexploited markets of guidewires used privately.

Competitor Insights

Some of the key players in the guidewires market are Medtronic plc (Ireland); Boston Scientific Corporation (U.S.); Cook Group (U.S.); Terumo Corporation (Japan); Abbott Laboratories (U.S.); Stryker Corporation (U.S.); Cardinal Health (U.S.); Olympus Corporation (Japan); Johnson & Johnson (U.S.); B. Braun Melsungen AG (Germany); C.R. Bard Inc. (U.S.); Teleflex Incorporated (U.S.); and Angiodynamics (U.S.). The leading players operating in the guidewires industry are adopting various strategies including R&D investments, adaption of advanced techniques, new technology launches, mergers & acquisitions, and regional expansions to capture a maximum revenue share.

This exhaustive research report focuses on market size and forecast at global, segmental, regional and country level along with key market trends and dynamics from 2021 to 2029. The guidewires market report is categorized into the following segments and subsegments:

Guidewires Market, By Raw Materials (Revenue, USD Million, 2021 – 2029)

• Stainless steel
• Nitinol
• Others

Guidewires Market, By Coating (Revenue, USD Million, 2021 – 2029)

• Non coated
• Coated
  • Hydrophilic
  • Hydrophobic

Guidewires Market, By Product (Revenue, USD Million, 2021 – 2029)

• Peripheral guidewires
• Coronary guidewires
• Neurovascular guidewires
• Urology guidewires

Guidewires Market, By Region (Revenue, USD Million, 2021 – 2029)

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of LATAM
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of MEA

Scope of Guidewires Market Report:

Key Parameters	Details
Base Year	2021
Forecast Period	2022-2029
Study Coverage	Global and regional market size and revenue forecast Segment market size and revenue forecast at global, regional, and country level Competitive landscape (company share analysis, company profiles, recent development, competitive map analysis) Conclusion and recommendations
Qualitative Analysis	Market drivers Market restraints Market opportunities Recent market trends Market challenges Porter’s Five Forces analysis PEST analysis Value-chain analysis COVID-19 impact analysis
Regional Market Scope	North America (U.S. and Canada) Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe) Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC) Latin America (Brazil, Mexico, Argentina, Rest of LATAM) MEA (South Africa, GCC, Rest of MEA)
Company Profiles	Exhaustive profiles of top 15 players 50+ other major players listing
15% Free Customization Available	You can customize the study scope to meet your exact requirement. Click here for more details