The global coronary guidewires and accessories products market size was estimated to be USD 1.34 billion in 2023 and is expected to reach at USD 2.46 billion by 2034 with a CAGR of 5.67% during the forecast period 2024-2034. Surge in prevalence of cardiac disorders & heart failure, growing investment by major market players, increasing technological advancements in coronary guidewires, rising demand of guidewires for the insertion of therapeutic devices during percutaneous interventional procedures, surge in research & development of new guidewire designs, growing launch of cutting-edge technologies, and increasing collaborations within market players for the distribution of advanced products are some of the main elements driving the market's expansion.
Increasing collaborations within market players for the distribution of advanced products is predicted to boost the market growth during the forecast period. For instance, in August 2022, OpSens Medical and Vascular Perspectives have entered into an exclusive distribution arrangement for the United Kingdom. The partnership involves the distribution of OpSens' OptoWire Ill pressure guidewire, which is designed to assess the severity of coronary lesions and the need for treatment by utilizing physiological indicators. The OptoWire Ill is driven by Fidela, a patented second-generation fiber optic sensor known for its industry-leading stability and minimal drift.
By product, guidewires was the highest revenue-grossing segment in the global coronary guidewires and accessories products market in 2023 owing to the rising number of surgical procedures, growing technological advancements, and increasing product approvals by regulatory bodies. For instance, in June 2022, The FreedomFlow Peripheral Guidewire from Cardio Flow Inc. has received approval from the US FDA. This guidewire, known as FreedomFlow, features a stainless steel core that extends from the base to the tip, accompanied by a securely affixed distal-spring roll. Additionally, Accessories is predicted to grow at fastest CAGR during the forecast period owing to the surge in research & development activities, increasing focus on development of cutting-edge products, and growing launch of novel products.
By material, stainless steel was the highest revenue-grossing segment in the global coronary guidewires and accessories products market in 2023 owing to its firmness, greater assistance, improved torque management, excellent support & increased capacity to transfer push force and increasing demand for titanium guidewires since they are less flexible but effective for support, push, & torque. Additionally, Nitinol is predicted to grow at fastest CAGR during the forecast period owing to the rising demand for flexible guidewires, increasing focus on development of advanced guidewires, and surge in approvals by regulatory bodies. For instance, in October 2022, Lepu Medical's Ultraskin™ Hydrophilic Guide Wire has received certification under the MDR (Medical Device Regulation) from the BSI Netherlands Notified Body (2797), enabling its legal sale in the European Union market. This certificate has a five-year validity period. Notably, the Ultraskin™ Hydrophilic Guide Wire represents the second high-risk class III product from Lepu Medical to be granted MDR certification.
By end-user, hospitals was the highest revenue-grossing segment in the global coronary guidewires and accessories products market in 2023 owing to increasing the availability of heart surgery education & delivering the most recent standards & techniques for cardiac care to the local doctors & nurse, rising demand of guidewire medical devices for surgical procedures performed in hospitals, and growing regulatory approvals of novel products. For instance, in June 2023, Teleflex Incorporated has been granted FDA authorization for its Wattson Bipolar Temporary Guidewire. This guidewire is specifically designed for application during Transcatheter Aortic Valve Replacement (TAVR) and Balloon Aortic Valvuloplasty (BAV). The Wattson device, as per the manufacturer's description, serves the dual purpose of aiding in valve delivery and providing ventricular bipolar pacing during TAVR or BAV procedures, thanks to its uncomplicated design. Additionally, Cardiac centers is predicted to grow at fastest CAGR during the forecast period owing to the surge in prevalence of cardiac disorders, growing number of cardiac surgeries, increasing demand for guidewires for surgeries, and rising adoption of advanced technologies.
North America region is anticipated for the highest revenue share during the forecast period owing to the surge in number of cardiac centers, increasing product launches by major market players. For instance, in February 2022, Teleflex Incorporated has revealed that the FDA has granted expanded approval for their specialized catheters and coronary guidewires. These devices are now cleared for use in navigating Chronic Total Occlusion (CTO) during Percutaneous Coronary Intervention (PCI). The range of devices benefiting from this extended indication encompasses the Teleflex GuideLiner V3 catheter, TrapLiner catheter, Turnpike catheters, as well as the Spectre, Raider, Bandit, Warrior, and R350 guidewires. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising focus on development of coronary guidewires & accessories products, growing research & development activities, and increasing launch of advanced products. For instance, in April 2023, A Turkish medical startup called Invamed has introduced the lnWlRE CTO Guidewire, a non-surgical treatment option for coronary heart disease (CHD). Invamed's lnWlRE CTO Guidewire offers an alternative to surgical procedures. This guidewire serves as a navigation tool for reopening chronically fully blocked arteries and challenging vascular lesions, simplifying the process of inserting catheters and interventional medical devices into the vascular system.
Increasing collaborations within market players for the distribution of advanced products is predicted to boost the market growth during the forecast period. For instance, in August 2022, OpSens Medical and Vascular Perspectives have entered into an exclusive distribution arrangement for the United Kingdom. The partnership involves the distribution of OpSens' OptoWire Ill pressure guidewire, which is designed to assess the severity of coronary lesions and the need for treatment by utilizing physiological indicators. The OptoWire Ill is driven by Fidela, a patented second-generation fiber optic sensor known for its industry-leading stability and minimal drift.
By product, guidewires was the highest revenue-grossing segment in the global coronary guidewires and accessories products market in 2023 owing to the rising number of surgical procedures, growing technological advancements, and increasing product approvals by regulatory bodies. For instance, in June 2022, The FreedomFlow Peripheral Guidewire from Cardio Flow Inc. has received approval from the US FDA. This guidewire, known as FreedomFlow, features a stainless steel core that extends from the base to the tip, accompanied by a securely affixed distal-spring roll. Additionally, Accessories is predicted to grow at fastest CAGR during the forecast period owing to the surge in research & development activities, increasing focus on development of cutting-edge products, and growing launch of novel products.
By material, stainless steel was the highest revenue-grossing segment in the global coronary guidewires and accessories products market in 2023 owing to its firmness, greater assistance, improved torque management, excellent support & increased capacity to transfer push force and increasing demand for titanium guidewires since they are less flexible but effective for support, push, & torque. Additionally, Nitinol is predicted to grow at fastest CAGR during the forecast period owing to the rising demand for flexible guidewires, increasing focus on development of advanced guidewires, and surge in approvals by regulatory bodies. For instance, in October 2022, Lepu Medical's Ultraskin™ Hydrophilic Guide Wire has received certification under the MDR (Medical Device Regulation) from the BSI Netherlands Notified Body (2797), enabling its legal sale in the European Union market. This certificate has a five-year validity period. Notably, the Ultraskin™ Hydrophilic Guide Wire represents the second high-risk class III product from Lepu Medical to be granted MDR certification.
By end-user, hospitals was the highest revenue-grossing segment in the global coronary guidewires and accessories products market in 2023 owing to increasing the availability of heart surgery education & delivering the most recent standards & techniques for cardiac care to the local doctors & nurse, rising demand of guidewire medical devices for surgical procedures performed in hospitals, and growing regulatory approvals of novel products. For instance, in June 2023, Teleflex Incorporated has been granted FDA authorization for its Wattson Bipolar Temporary Guidewire. This guidewire is specifically designed for application during Transcatheter Aortic Valve Replacement (TAVR) and Balloon Aortic Valvuloplasty (BAV). The Wattson device, as per the manufacturer's description, serves the dual purpose of aiding in valve delivery and providing ventricular bipolar pacing during TAVR or BAV procedures, thanks to its uncomplicated design. Additionally, Cardiac centers is predicted to grow at fastest CAGR during the forecast period owing to the surge in prevalence of cardiac disorders, growing number of cardiac surgeries, increasing demand for guidewires for surgeries, and rising adoption of advanced technologies.
North America region is anticipated for the highest revenue share during the forecast period owing to the surge in number of cardiac centers, increasing product launches by major market players. For instance, in February 2022, Teleflex Incorporated has revealed that the FDA has granted expanded approval for their specialized catheters and coronary guidewires. These devices are now cleared for use in navigating Chronic Total Occlusion (CTO) during Percutaneous Coronary Intervention (PCI). The range of devices benefiting from this extended indication encompasses the Teleflex GuideLiner V3 catheter, TrapLiner catheter, Turnpike catheters, as well as the Spectre, Raider, Bandit, Warrior, and R350 guidewires. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising focus on development of coronary guidewires & accessories products, growing research & development activities, and increasing launch of advanced products. For instance, in April 2023, A Turkish medical startup called Invamed has introduced the lnWlRE CTO Guidewire, a non-surgical treatment option for coronary heart disease (CHD). Invamed's lnWlRE CTO Guidewire offers an alternative to surgical procedures. This guidewire serves as a navigation tool for reopening chronically fully blocked arteries and challenging vascular lesions, simplifying the process of inserting catheters and interventional medical devices into the vascular system.
Segmentation: Coronary Guidewires and Accessories Products Market Report 2022 - 2033
Coronary Guidewires and Accessories Products Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
Guidewires
- Specialty
- Standard
Accessories
- Guidewire Dispenser
- Guidewire Torque Handle
- Balloon Inflation Devices
- Guidewire Extensions
- Others
Coronary Guidewires and Accessories Products Market Analysis & Forecast by Material 2023 - 2034 (Revenue USD Bn)
- Nitinol
- Stainless Steel
- Others
Coronary Guidewires and Accessories Products Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Cardiac Centers
- Hospitals
- Ambulatory Surgical Centers (ASCs)
Coronary Guidewires and Accessories Products Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
North America
- U.S.
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Coronary Guidewires and Accessories Products Market: Product Estimates & Trend Analysis
8. Coronary Guidewires and Accessories Products Market: Material Estimates & Trend Analysis
9. Coronary Guidewires and Accessories Products Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Coronary Guidewires and Accessories Products Market
12. Europe Global Coronary Guidewires and Accessories Products Market
13. Asia Pacific Global Coronary Guidewires and Accessories Products Market
14. Latin America Global Coronary Guidewires and Accessories Products Market
15. MEA Global Coronary Guidewires and Accessories Products Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Japan Lifeline Co Ltd
- Asahi Intecc Co Ltd
- Abbott Laboratories
- Eurocor Tech GmbH
- Cook Group Inc
- B Braun Melsungen AG
- Terumo Corp
- Qmedics AG
- Biotronik SE & Co KG
- Lepu Medical Technology Co Ltd
- Medtronic Plc
- Boston Scientific Corp
- SIS MEDICAL AG
- Opsens Inc
- Hellman & Friedman LLC
- Koninklijke Philips NV
- Freudenberg Medical
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 145 |
| Published | October 2023 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 1.34 Billion |
| Forecasted Market Value ( USD | $ 2.46 Billion |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 17 |
