Therapeutic Medical Guidewire Market Highlights
The Therapeutic Medical Guidewire Market insights report expects the industry size to reach USD 2918.93 Million by 2030 at 5.7% CAGR during the forecast period 2022-2030.
Guidewire is a simple spring type wire that provides firmness and control to the site where angiogram is taken. The main function of Guidewire is to guide the catheter for placement. This medical device is usually made up of stainless steel but are also available in the form of metallic alloys. Majorly, there are two types of Guidewires, i.e., solid Guidewire, and wrapped Guidewire. Both the types have one end rigid and other end flexible. The flexible tip enters the blood vessel first to prevent damage to the vessel. The most prominent advantage of using solid Guidewire is that it reduces the chances of catheter tip flaring, and abrasion of the vessel.
Rising prevalence of chronic disorders, technological advancements in medical Guidewire, growing preference towards minimally invasive surgical procedures, and growing geriatric population are promoting the fuelling the growth of therapeutic medical Guidewire market globally
However, lack of skilled physicians, and medical Guidewire related health problems may hinder the growth of market to an extent.
The global therapeutic medical Guidewire market consists of four regions: the Americas, Europe, Asia Pacific, and the Middle East & Africa.
The Americas is the leading market across the globe on account of large patient pool.
Europe accounts for the second largest market in the world. Europe consist of two regions namely Western Europe and Eastern Europe. Western Europe holds the major share of the market, which is majorly contributed by Germany, the U.K., and France. The increasing government support for development of the healthcare domain drives the European market.
Asia Pacific region is projected to be the fastest growing region during the forecast period. Rising burden of chronic disorders, and rapidly improving technology drives the growth of this market in Asia Pacific region.
The Middle East and Africa holds the least share of the global market owing to the presence of poor and slow developing countries, especially, in African region.
The global therapeutic medical Guidewire market is segmented on the basis of type, shape, application, and end-users.
On the basis of type, the market is segmented into solid Guidewire, and wrapped Guidewire.
On the basis of shape, the market is classified into j-shaped, angled, and straight.
On the basis of application, the market is classified into peripheral artery disease, cardiovascular diseases, neurovascular diseases, and urological disease.
On the basis of end -users, the market is segmented into hospitals, clinics, and academic institutes.
Major Key Players in Global Therapeutic Medical Guidewire Market
Some of the top key players profiled in the Therapeutic Medical Guidewire Market outlook report are Cordis (Cardinal Health), Biotronik, SP Medical A S, Infiniti Medical, Acme Monaco, Abbott Laboratories, Boston Scientific Corporation, Medtronic plc, Terumo Medical Corporation, Cook Medical, and others.
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