Peripheral Guidewires: Introduction
- Peripheral guidewires are minimally invasive medical devices used during surgeries to access peripheral vessels and provide precise interventional treatment
- Guidewires help in accessing the exact location of the treatment site by acting as a guide and creating an easier passage for larger catheters
- These can be utilized to measure temperature, heart rate, blood pressure, blood sugar, stress, and also monitor drug intake by a patient
- Peripheral guidewires work by continuously scanning the body and sending data to a smartphone application
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Key Drivers and Restraint of Global Peripheral Guidewires Market
- The global peripheral guidewires market is projected to grow at a rapid pace due to a number of factors
- Demand for minimally invasive procedures is increasing due to benefits over open surgeries such as minimal bleeding, lesser chances of postoperative infection, fewer complications, shorter hospital stay, and early recovery. These surgeries are performed with the help of laparoscopes, endoscopes, and catheter-based techniques. Increase in patient preference for minimally invasive procedures drives demand for medical devices required to perform them. Hence, rise in the number of minimally invasive surgeries and rapid changes in technology are anticipated to propel the global peripheral guidewires market during the forecast period.
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- Reimbursement policies governing medical devices are favorable in several countries, fueling demand for guidewires. For instance, adoption of peripheral guidewires by physicians in Europe has increased owing to the favorable reimbursement scenario. In Spain, all citizens can avail free public health care facilities. Free health care not only includes diagnostic and therapeutic techniques, but also preventive care.
- Rise in demand for advanced guidewires with improved lubrication, ease of insertion, and less patient discomfort has created a lucrative opportunity for research and development in this field. Emergence of nitinol-based guidewires has created new opportunities in the urology segment owing to beneficial properties such as superelasticity, desirable shape, and maximal deflection without kinking. Advancements in technology has enabled manufacturers to offer customized guidewires depending upon the need and application. Hence, adoption rate of guidewires among physicians is likely to increase, which in turn is expected to augment the global peripheral guidewires market.
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North America to Lead Global Peripheral Guidewires Market
- In terms of region, the global peripheral guidewires market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is projected to account for major share of the global peripheral guidewires market due to high health care expenditure, increase in surgical procedures, and introduction of technologically advanced products owing to the presence of a large number of pharmaceutical and biotechnology companies
- Europe is likely to account for significant share of the global market due to early adoption of technologically advanced products in the region and research & development of peripheral guidewires by key players
- The peripheral guidewires market in Asia Pacific is expected to grow at a rapid pace during the forecast period owing to rise in demand for peripheral guidewires in developing countries. Indigenous production for diagnostics & treatment along with government initiatives, increased public awareness, and reduction in cost are the major drivers of the market in the region.
- Latin America and Middle East & Africa are likely to be potential markets for peripheral guidewires during the forecast period owing to lack of initiatives taken by governments and players in the area of research & development
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Key Players Operating in Global Peripheral Guidewires Market
- Abbott
- Terumo Medical Corporation
- Teleflex, Inc.
- Boston Scientific Corporation
- Asahi Intecc Co., Ltd.
- Medtronic plc
- CONMED Corporation
- Cardinal Health, Inc.
- Stryker Corporation
- Braun Melsungen AG
- Cook Medical LLC
- Other prominent players
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