Peripheral Guidewires Market: Current Analysis and Forecast (2022-2028)
Emphasis on Type (J-Shape Guide Wire, Straight Guide Wire, and Angled Guide Wire); Application (Interventional Guidewire and Diagnostics Guidewire); and Region/Country
Global Peripheral Guidewires Market is expected to grow at a significant rate of around 7% during the forecast period. In order to reach the peripheral vasculature and execute interventional treatment, peripheral guidewires are a device that is mostly employed during the performance of operational activities. Peripheral guidewire has recently been in high demand because of its use in a variety of procedures, including carotid, lower limb intervention, and renal. Peripheral guidewires are also used to measure the patient’s medicine consumption as well as their heart rate, temperature, blood sugar, and stress levels. The peripheral guidewire is available in many forms and diameters and is made of various materials, including polyimides, stainless steel, and nitinol. Additionally, the peripheral guidewire is widely used for the treatment of femoropopliteal angioplasty, below-the-knee angioplasty, and aortoiliac angioplasty and is expected to propel the market growth during the forecast period.
Terumo Corp, Abbott Laboratories, Boston Scientific Corp, Asahi Intecc Co Ltd, Cardinal Health, Cook Group Inc, Merit Medical Systems Inc, Medtronic plc, CONMED Corporation, and Teleflex, Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst type, J-shaped Guidewires category to witness higher CAGR during the forecast period”
Based on the types, the market is segmented into J-shape guide wire, straight guide wire, and angled guide wire. The J-shape wire segment is expected to witness significant CAGR during the forecast period owing to its use to guide catheter at the place during the CVC insertions to gain access to the blood vessel. Additionally, the J-shaped guide wire eliminates the need for inserting needles into the deeper structure. The J-shaped guidewire also helps to identify the level of protein expression and is expected to support market growth.
“Amongst application, the interventional guidewire segment to grow with significant CAGR During in 2020”
Based on the application, the market is bifurcated into interventional guidewire and diagnostics guidewire. The interventional guidewire segment is expected to witness significant market growth during the forecast owing to the shift in the treatment and operational technology such as Percutaneous Coronary Intervention (PCI). Additionally, the interventional guidewire gives medical device businesses access to off-the-shelf products and regulatory approval, which is anticipated to promote market expansion in the near future.
“North America to hold a significant share in the market”
In 2020, North America held a significant share of the global peripheral guidewires market. This is mainly due to the rising healthcare costs as well as technical developments like the use of IoT, AI, and ML. Additionally, the region’s rising surgical rates and the presence of numerous biotechnology and pharmaceutical firms are anticipated to promote market expansion. The market will expand as a result of the enormous population rise and greater risk of cardiovascular illnesses. In addition, the region’s rising investment, new product launches, and rising R&D spending are anticipated to promote market expansion. For instance, Boston Scientific launched several guidewire products including Amplatz Super Stiff Guidewire, CHOICE Floppy Guidewire, Dreamwire High-Performance Guidewire, FORTÉ Moderate Support Guidewire, and Marker Wire, Hydra Jagwire High-Performance Guidewire for different applications.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global peripheral guidewires market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Peripheral Guidewires Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global peripheral guidewires market were the three major steps undertaken to create and analyze the adoption of peripheral guidewires in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global peripheral guidewires market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the peripheral guidewires market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the peripheral guidewires market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the peripheral guidewires market. Further, we conducted factor analysis using dependent and independent variables such as type and applications of peripheral guidewires. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the peripheral guidewires market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global peripheral guidewires market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the peripheral guidewires market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global peripheral guidewires market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global peripheral guidewires market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and application in the global Peripheral Guidewires market.
The main objective of the Global Peripheral Guidewires Market Study
The current & future market trends of the global peripheral guidewires market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the peripheral guidewires market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type and application.
- Define and analysis of the regulatory framework for the peripheral guidewires
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the peripheral guidewires market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the peripheral guidewires market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
Related Reports
Customers who bought this item also bought
Antibiotic Resistance Market: Current Analysis and Forecast (2024-2032)
Emphasis on Disease Type (Urinary Tract Infections, Intra-Abdominal Infections, Blood Stream Infections, Clostridium Difficile Infections, And Others); Pathogen Type (Acinetobacter baumannii, Pseudomonas aeruginosa, Staphylococcus aureus, Streptococcus pneumoniae, and Others); Drug Class (Oxazolidinones, Lipoglycopeptides, Tetracyclines, and Others); and Region/Country
October 8, 2024
