The global coronary guidewires market is anticipated to grow at a significant CAGR 5.9% during the forecast period (2024-2031). Coronary guidewires are specialized pieces of equipment. They are used to deliver therapies to diseased areas of the coronary arterial system. These guidewires have the properties of steerability, traceability, flexibility and are used in minimally invasive surgeries. The major factor driving the demand for coronary guidewires is the rising number of minimally invasive surgeries along with the increasing prevalence of cardiovascular diseases (CVDs) across the globe.
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According to the World Health Organization (WHO), CVDs are the leading cause of mortality globally with a mortality rate of an estimated 17.9 million people in 2019 which represented 32% of all global mortalities. Additionally, out of these, 85% were due to heart attack and stroke. Furthermore, in the same year, 17 million premature deaths were under the age of 70 due to non-communicable diseases. Hence, the increasing prevalence of CVDs is driving the demand for coronary guidewires which in turn is driving the growth of the market.
Some major players in the market include Abbott Laboratories, Terumo Medical Corp., and Boston Scientific Corp., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in February 2022, Teleflex Inc. announced the clearance of an expanded indication for its specialty catheters and coronary guidewires from the US Food and Drug Administration (FDA). It is used in crossing chronic total occlusion percutaneous coronary interventions (CTO PCI).
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Market Coverage
- Segment Covered-
o By Material
o By Coating
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Abbott Laboratories, Terumo Medical Corp., and Boston Scientific Corp., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Coronary Guidewires Market Report by Segment
By Material
- Nitinol
- Stainless Steel
- Others
By Coating
- Coated
- Hydrophilic
- Hydrophobic
- Non-Coated
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