Manufacturers in order to reap the most out of the guidewires market are evaluating different approaches in modeling guidewires and catheters to advance techniques in endovascular interventions, notes Transparency Market Research (TMR). Medical device makers are striving to unveil guidewires that can help interventional cardiologists navigate a wide cross-section of clinical scenarios. To this end, those seeking higher stakes in the guidewires market have been extensively researching on combining various mechanical properties. Most notable of the properties they focus on comprise flexibility for easy maneuverability and hydrophilicity at the tip, in addition to shaft stiffness and retention friction, a key approach that shapes product innovations in the guidewires market.
Rising Uptake in Percutaneous Coronary Interventions Churns out Sizable Global Revenues
Importantly, medical device makers in the guidewires market are aiming at helping cardiac care specialists choose the best device that fulfils the requirements of the specific clinical scenario. The growing adoption of coronary guidewires among interventional cardiologists have been propelled by rapid advances in angioplasty procedures. This is driven by rising application in percutaneous coronary interventions, world over, such as percutaneous transluminal coronary angioplasty (PTCA) and percutaneous transluminal angioplasty (PTA). The coronary guidewires segment is expected to hold the leading revenue share in the global guidewires market.
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Advances being made in endovascular interventions-technology and techniques are underpinning the lucrativeness of the market. The global guidewires market is expected to garner a CAGR of 6.2% from 2017 to 2025 to climb to reach opportunities worth US$2.7 bn by 2025.
Computer-based Models for Developing Guidewires Have Game-Changing Potential
Growing demand for minimally invasive interventional procedures is a key factor catalyzing advances in endovascular interventions, driving the guidewires market. Advent of computer-based models for developing guidewires has been poised with game-changing potential in the guidewires market. These models are expected to gather steam among the industry as well as the academia due to their potential in evaluating different modeling approaches comprehensively. One of the compelling business propositions in the adoption of computer modelling strategies in the guidewires market is the potential in the design optimization of instruments.
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Over the past few years, the role of hybrid guidewires in endourological procedures has gathered the attention of manufacturers in the guidewires market. They are inter alia experimenting with different materials and guidewire designs.
New Catheterization Techniques Drive Product Innovations
Adoption of new catheterization techniques has also expand the potential of the guidewires market. A case in point is in cardiovascular magnetic resonance (CMR) catheterization, an emerging strategy. In this regard, nitinol guidewires have shown some potential to manufacturers to fare better in trackability, torquability, and mechanical support. This will pave way to high-performance commercial guidewires, especially in developed and developing markets.
Stricter implementation of regulations has motivated medical device makers to unveil guidewires in conformation with the prevailing regulations of the land. North America has presented several significant revenue streams to medical device makers in the global guidewires market. According to TMR, the opportunities in the market are expected to reach worth of US$662.1 by 2025-end.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Guidewires Market (Product – Coronary Guidewires, Peripheral Guidewires, Neurovascular Guidewires, Urology Guidewires, Radiology Guidewires, and Gastroenterology Guidewires; End-user – Hospitals, Clinics, Ambulatory Surgical Centers, and Diagnostic Centers) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017-2025. ”