Adoption of interventional radiology techniques in image-guided diagnosis and treatment of diseases has increased in the past few years. Interventional radiology is highly suitable for gastrointestinal, hepatobiliary, genitourinary and pulmonary complications. The benefits of such minimally invasive procedures in the form of minimal blood loss, shorter hospital stays and quick recovery have made interventional radiology techniques more popular.
The increasing preference for interventional radiology techniques has bolstered the demand for guidewires and is anticipated to continue doing so in the future. The global guidewires market is poised to register a positive growth trajectory, expanding at a CAGR of 6.1% during the forecast period (2020-2025). The market is pegged to reach a value pool of US$ 2.6 Bn by the end of 2025.
The COVID-19 pandemic is anticipated to moderately impact the production of guidewires in the forecast period. This is attributed to key companies implementing strict countermeasures to limit person-to-person contact, investing a significant part of its revenue in finding testing mechanisms and antiviral drugs, and staggering shift timings.
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Key Takeaways of Global Guidewires Market Study:
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Global Guidewires: Market Segmentation
Fact.MR has studied the global guidewires market with detailed segmentation on the basis of product, end user and key regions.
Product
End-user
Key Regions
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Enhanced Patient Comfort to be Key Growth Stimulant
A fragmented market, the global guidewires market consists of several players, with top four players comprising half of the total market. These players are: Abbott Technologies, Terumo Medical Corporation, Integer Holdings Corporation and Boston Scientific Corporation. These players concentrate on developing guidewires for various therapeutic applications and providing improved patient comfort via lubricous coating.
Abbot Technologies manufactures new products such as the Hi-Torque Command 18 018 guidewire. The device combines the durability of nitinol and the push, torque and support of stainless steel to provide patient comfort and easy surgery. Another product, titled PressurewireTM X assesses hemodynamics using either FFR fractional flow reserve or Resting Full Cycle Ratio (RFR) measurements.
Terumo Interventional Systems, another market player, offers hydrophilic and novel hybrid guidewires in nitinol core for coronary and vascular interventional procedures. Its products include the Long Taper GLIDEWIRE, the J-tip GLIDEWIRE and GLIDEWIRE TORQUETM Device. These glidewires provide unmatched lubricity and lubricity retention. This ensures consistency throughout the entire operation.
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