Guidewire Market report provides detailed information regarding various insights of the industry. Some of them are growth drivers, hindrances, competitive landscape, regional analysis, and challenges.
The globalguidewires market sizeis projected to reach USD 1,401.0 million by 2026, exhibiting a CAGR of 5.9% during the forecast period. Rising incidence rate of cardiovascular diseases is expected to be one of the major forces of growth for this market. According to estimates released by the American Heart Association (AHA), a staggering 15.5 million Americans were suffering from coronary heart disease in 2016. These numbers augur good news for the guidewire market as a steady rise in the prevalence of cardiovascular disorders will necessitate the utilization of advanced guidewire technology for quicker diagnosis and delivery of more accurate treatment for these conditions. Moreover, these devices are also crucial in diagnosing gastrointestinal disorders, which will further boost their employment in the healthcare industry.
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Leading Players operating in the Guidewire Market are:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
Growing Preference for Minimally Invasive Diagnostic Procedures to Catalyze Growth
One of the primary factors driving the guidewires market trends is the demand for minimally invasive procedures for diagnostic purposes, which is gaining ground in healthcare. This is on account of the benefits offered by such procedures. For example, a patient will recover at a faster rate if the incision in her body is small and narrow. This would also minimize the patient’s hospital stay, saving her a good amount of her resources. Technologically advanced guidewires allow for superior lesion access and better visibility, which brings down procedural costs and becomes more pocket-friendly for the patient. The guidewire market stands to gain as a result.
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Robust Healthcare Infrastructure to Propel the Market in North America
Having generated a revenue of USD 308.2 million in 2018, North America is set to dominate the guidewires market share during the forecast period. This will be mainly attributable to variety of favorable conditions including availability of cutting-edge healthcare technology, friendly medical reimbursement policies, and a ready acceptance of modern technology.
The market in Europe will be chiefly driven by growing demand for minimally invasive procedures and increasing number of surgeries. Coupled with these is the high adoption rate of interventional diagnostic methods in Western European countries such as Germany and France, which is further fueling the market in the region.
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To view the original version on The Express Wire visit Guidewire Market 2020 Size, Share, Growth | Regional Industry Trends, Overview and Forecast 2026