Transparency Market Research
The global coronary guidewires market is mainly driven by increase in prevalence of cardiovascular and renal diseases, rise in number of interventional diagnostic procedures, growing demand for minimally invasive surgeries and favorable reimbursement scenario are likely to drive the market in during forecast period 2018 to 2026. However, high cost of minimally invasive surgeries and complications in guidewire use are likely to hinder the growth of the coronary guidewires market.
The global coronary guidewires market is classified into five major categories like type of tip flexibility, coating type, material, end user and geography. Based on type of tip flexibility coronary guidewires market is categorized into floppy, intermediate, and stiff. On the basis of coating type coronary guidewires market is segmented into hydrophobic and hydrophilic. Hydrophobic coronary guidewires are likely to hold the major share of the market. Based on material coronary guidewires market is categorized into stainless steel, nitinol, and hybrid. Nitinol material have various advantages over the stainless steel and is anticipated to grow at greater CAGR during forecast period. End user for the coronary guidewires market is hospitals, ambulatory surgical centers, cardiac catheterization laboratories, and others. Hospitals are likely to hold major share of the coronary guidewires market by end user owing to prominent channel for distribution of devices manufactured by key players to hospital and favorable reimbursement policies.
Geographically, the global coronary guidewires market has been classified into five regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2016, North America dominated the global market due to high prevalence of cardiovascular diseases and presence of key players. Technological innovations, growing adoption of minimally invasive surgeries, and presence of high class health care infrastructure with skilled physicians are driving the coronary guidewires market in Europe. Growing demand for advanced coronary guidewires in emerging economies like China & India, and growing small and domestic players are boosting the market growth in this region. Brazil and Mexico are having significant growth potential owing to the presence of favorable government policies for new entrants. The market in Middle East and Africa is in a development phase and has significant growth potential in coronary guidewires market owing to increasing demand for interventional procedures performed.
Key players operating in the global coronary guidewires market includes Abbott Laboratories, Terumo Medical Corporation, Integer Holdings Corporation, Cardinal Health, Inc., Merit Medical Systems, Inc., Boston Scientific Corporation, BIOTRONIK SE & Co. KG and Medtronic.
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