Guidewires Market Players are Investing in Developing Technologically Advanced and Innovative Products

November 02 20:05 2018
Global guidewires market is forecasted to attain revenue of $1,126.5 million by 2023, according to P&S Market Research.

Guidewires refer to a wire or a spring used as a guide for placement of a larger device or prosthesis, such as catheter or intramedullary pin, at a desired treatment location within the body. The surgical procedures conducted using guidewires are considered minimally invasive since it only takes a small incision to get the wire into the body. The global guidewires market size is projected to reach $1.1 billion by 2023, growing at a CAGR of 5.5% during 2017-2023. Favourable reimbursement scenario, increasing prevalence of chronic and lifestyle associated disorders, and growing demand for minimally invasive surgeries (MISs) are the factors driving the growth of the global market.

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The market players are developing technologically advanced guidewires, with the increasing complexities in various surgeries. For instance, the advanced neurovascular guidewires have improved tip flexibility, portability and advanced torque response. Some of the other technological advancements associated with guidewires include magnetic navigation technology, medical infusion and super elastic hydrophilic coated guidewires. In January 2017, Cook Medical LLC launched its advanced Motion 2-in-1 hybrid wire guide developed for the urology procedures. This guidewire combines the features of a nitinol access wire guide and a Teflon fixed core wire guide into a single device. Following that in May 2017, Cook Medical LLC launched Acrobat 2 calibrated tip guidewire, that provides the required tip flexibility for ductal navigation for ERCP or any other procedures.

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The top players in the global guidewires market are Abbott Laboratories, Medtronic plc, Cardinal Health Inc., Stryker Corporation, B. Braun Melsungen AG, Cook Medical LLC, Conmed Corporation, Terumo Corporation, Asahi Intecc Co. Ltd., and Boston Scientific Corporation. Companies such as Cardinal Health Inc., Stryker Corporation and Asahi Intecc Co. Ltd. offer only stainless steel-based guidewires. B. Braun Melsungen AG offers only hybrid guidewires, that are PTFE-coated and have a stainless nickel-chromium steel core. Asahi Intecc Co. Ltd., a Japan based company, majorly deals in guidewires and catheters. The company develops a variety of products for CVDs, peripheral vasculature, abdominal vasculature and others and also manufactures customized products. For instance, PTCA guidewires, IVR guidewires and angiographic guidewires are some of the customized products offered by the company. Boston Scientific Corporation offers all material type guidewires.

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