The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s guidewires market report forecasts the guidewires market size to grow to $3 Billion by 2027, with a CAGR (compound annual growth rate) of more than 5%.

Learn More On The Guidewires Market Report 2023 – https://www.thebusinessresearchcompany.com/report/guidewires-global-market-report

Guidewires Market Size Forecast
global guidewires market is expected to grow from $2.26 billion in 2022 to $2.40 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global guidewires market size is expected to reach $3.0 billion in 2027 at a CAGR of 5.6%.

North America held the largest guidewires market share, and Asia-pacific was the fastest-growing region in 2022.

Key Guidewires Market Driver ­– Rise In Number Of Chronic Diseases
For example, the National Centre for Biotechnology Information, a US-based branch of the National Institutes of Health, published a research paper in January 2023 stating that the number of U.S. citizens over the age of 50 with chronic diseases is expected to increase by 99.5% from 71.52 million in 2020 to 142.66 million by 2050. As a result, the growing prevalence of chronic diseases will boost the guidewires market.

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Key Guidewires Market Trend – Technological Advancement
To maintain their market position, major firms in the guidewires market have adopted a new and innovative guidewire with modern technology. Merit Medical, a medical device manufacturer and marketer based in the United States, for example, introduced the GO2WIRE Steerable Guide Wire System for peripheral diagnostic and interventional treatments. Straight Linear Torque Steel Core Wire technology is used in the guidewire, which has increased the instrument’s response by 40% to satisfy specific anatomical needs. The reshapable distal tip of the GO2WIRE allows doctors to adjust the wire tip to unique anatomical needs. During fluoroscopy, the platinum-enhanced tip provides excellent visibility.

Guidewires Market Segment
1) By Product: Interventional Guidewires, Diagnostic Guidewires
2) By Material: Nitinol, Stainless Steel, Hybrid, Other Materials
3) By Coating: Coated, Non-Coated
4) By Application: Coronary Guidewires, Peripheral Guidewires, Urology Guidewires, Radiology Guidewires, Neurovascular Guidewires, Gastroenterology Guidewires, Other Applications
5) By End-User: Hospitals, Ambulatory Surgical Centers, Research Laboratories, Other End-Users

Guidewires Market Major Players and Strategies
Major players in the guidewires market are from $2.26 billion in 2022 to $2.40 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global guidewires market size is expected to reach $3 billion in 2027 at a CAGR of 5.6%.

Boston Scientific Corporation, a medical solutions firm based in the United States, paid roughly $1.75 billion for Baylis Medical firm Inc. in February 2022. Boston Scientific Corporation will get access to Baylis’ products and platforms, allowing it to strengthen its position in the cardiology sector. Baylis Medical Company Inc. is a medical device manufacturer situated in the United States that produces guidewires, sheaths, and dilators.

The Guidewires Global Market Report 2023 covers regional data on guidewires market size, guidewires market trends and drivers, opportunities, strategies, and guidewires market competitor analysis. The countries covered in the guidewires market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

A guidewire is a tiny wire that is used to understand the placement of a catheter during a minimally invasive medical operation. Guidewires are used to penetrate the circulatory systems and access the desired portion of the body during minimally invasive treatments.

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