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Guidewires - Global Market Trajectory & Analytics

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    Report

  • 376 Pages
  • April 2021
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 4805010
Global Guidewires Market to Reach $801.8 Million by 2027

Amid the COVID-19 crisis, the global market for Guidewires estimated at US$639.7 Million in the year 2020, is projected to reach a revised size of US$801.8 Million by 2027, growing at a CAGR of 3.3% over the analysis period 2020-2027. Nitinol, one of the segments analyzed in the report, is projected to record a 3.1% CAGR and reach US$475.9 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Stainless Steel segment is readjusted to a revised 3.4% CAGR for the next 7-year period.



The U.S. Market is Estimated at $172.8 Million, While China is Forecast to Grow at 6% CAGR

The Guidewires market in the U.S. is estimated at US$172.8 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$165.3 Million by the year 2027 trailing a CAGR of 5.9% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.9% and 2.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.6% CAGR.

Hybrid Segment to Record 3.9% CAGR

In the global Hybrid segment, USA, Canada, Japan, China and Europe will drive the 3.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$57.8 Million in the year 2020 will reach a projected size of US$72.8 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$111.9 Million by the year 2027, while Latin America will expand at a 4.8% CAGR through the analysis period.

Select Competitors (Total 46 Featured):
  • Abbott Laboratories
  • AngioDynamics, Inc.
  • Asahi Intecc Co., Ltd.
  • B. Braun Melsungen AG
  • BARD, A Becton, Dickinson Company
  • Boston Scientific Corporation
  • Cardinal Health, Inc.
  • Cook Group, Inc.
  • Johnson & Johnson
  • Medtronic PLC
  • Merit Medical Systems, Inc.
  • Olympus Corporation
  • Stryker Corporation
  • Teleflex Inc.
  • Terumo Corporation
Frequently Asked Questions about the Global Market for Guidewires

What is the estimated value of the Global Market for Guidewires?

The Global Market for Guidewires was estimated to be valued at $639.7 Million in 2020.

What is the growth rate of the Global Market for Guidewires?

The growth rate of the Global Market for Guidewires is 3.3%, with an estimated value of $801.8 Million by 2027.

What is the forecasted size of the Global Market for Guidewires?

The Global Market for Guidewires is estimated to be worth $801.8 Million by 2027.

Table of Contents

I. METHODOLOGY

II. EXECUTIVE SUMMARY
  • Influencer Market Insights
  • Impact of Covid-19 and a Looming Global Recession
  • Guidewires - A Key Tool in Minimally Invasive Procedures
  • Rising Global Healthcare Spending Sustains Market Growth
  • Exhibit 1: Global Health Expenditure Per Capita (In US$) for the Years 2019, 2025, 2030 & 2050
  • North America Dominates Market Growth
  • Increasing Volume of Minimally Invasive Surgical Procedures Gives Strong Impetus to Market Growth
  • Exhibit 2: Global Minimally Invasive Surgical Instruments Market (In US$ Billion) for the Years 2019, 2021, 2023, 2025 & 2027
  • Growing Prevalence of Lifestyle Diseases in Developing Countries
  • Exhibit 3: Increasing Strain of Obesity on Healthcare Systems Globally Spurs Adoption of New Technologies: Average Per Capita Annual Health Expenditure (In US$) due to Obesity
  • Favourable Reimbursement Policies Props Up Demand in Developed Countries
  • Aging Global Population Increases Demand for Surgical Services
  • Increase in Various Interventional Procedures Augurs Well
  • Technological Advancements and New Product Development to Give a Boost to the Market
  • High Cost of Guidewires Restricts Market Growth

III. MARKET ANALYSIS

IV. COMPETITION
  • Total Companies Profiled: 46