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Guidewires Market to be Driven by Growing Demand for Minimally Invasive Procedures

Press Release   •   May 18, 2016 08:52 EDT

A new market research report by Transparency Market Research on the global guidewires market studies the key factors affecting the growth of the market and analyzes the outlook of the market in the coming years. The report, titled “Guidewires Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023,” projects the size and valuation of the market during the period from 2015 to 2023. The report further studies the market on the basis of product types and regions. Profiles of some of the prominent players in the market have been included in the report.

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Guidewire refers to a thin and flexible tube used to guide a catheter while placing it in the diseased artery. After the catheter is finally placed, the guidewire is removed. The most common insertion point for the guidewire and catheter is the femoral artery at the groin. Brachial artery and coronary arteries are the other possible insertion points for guidewires. Rise in the number of minimally invasive procedures has boosted the demand for guidewires. Guidewires are reusable and display biomechanical properties. Hence, they are extensively used across the medical device industry. All these factors are propelling the growth of the global guidewires market.

On the basis of product type, the report segments the global guidewires market into coronary guidewire, peripheral guidewire, urology guidewire, and neurovascular guidewire. The demand for each of the guidewire types has been analyzed in the report.

The report studies the guidewires market across four key regions: Asia Pacific, North America, Europe, and Rest of the World. North America is the leading market for guidewires, followed by Europe. The prevalence of lifestyle diseases and the rapid increase in geriatric population have propelled the growth of the market in these regions. Further, the growing demand for minimally invasive surgeries and the unique biomechanical properties of guidewires are expected to augment the market’s growth during the forecast period. Asia Pacific is fast emerging as one of the most lucrative markets for guidewires owing to the presence of a large pool of patients suffering from peripheral vascular diseases in countries such as India and China. Government initiatives, economic development, and improving healthcare facilities will create further growth opportunities for the guidewires market in the region.

Describing the competitive landscape, the report profiles some of the key players in the global guidewires market such as Cordis Corporation, Boston Scientific Corporation, ASAHI INTECC, C.R. Bard Inc., Terumo Corporation, Medtronic Inc., Covidien plc, Abbott Laboratories, B. Braun Melsungen AG, and Cook Medical. The market players are focusing on the development of novel guidewires in terms of flexibility and tip retention for different medical applications.

Full Research Report on Global Guidewires Market:
http://www.transparencymarketresearch.com/guidewires-market.html