Guidewires are essential tools, to track through the vessel, allowing access and the ability to cross the lesion with interventional devices. Based on the material coating, size, and design, coronary guidewires are of different types. Hydrophilic guidewire require the least amount of force to blend the flexible tip. Guidewires can be coated with polymers to make them hydrophilic or hydrophobic. Hydrophilic coating material attracts water molecules and the coating is converted into gel, making the guidewire more slippery. However, the hydrophobic coating materials repel water molecules, thereby increasing trackability of guidewires with added tactile feel. The choice of the guidewire depends on the type of interventional procedures that needs to be performed.
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The hydrophobic guidewires are more preferred over hydrophilic guidewires owing to the risk of vessel cuts caused by hydrophilic guidewires due to its slippery nature. Key players are opting to automate guidewire manufacturing to increase the speed of manufacturing and reduce the overall cost of production due to the constant pressure of reducing the cost to meet the increasing demand. The processes automated for guidewire manufacturing involve medical tube and guidewire cutting, feeding, drilling, punching, tipping, slitting, flaring, grinding, skiving, laser ablation, laser marking, and assembly.
The global coronary guidewires market is mainly driven by increase in prevalence of cardiovascular and renal diseases, rise in number of interventional diagnostic procedures, growing demand for minimally invasive surgeries and favorable reimbursement scenario are likely to drive the market in during forecast period 2018 to 2026. However, high cost of minimally invasive surgeries and complications in guidewire use are likely to hinder the growth of the coronary guidewires market.
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The global coronary guidewires market is classified into five major categories like type of tip flexibility, coating type, material, end user and geography. Based on type of tip flexibility coronary guidewires market is categorized into floppy, intermediate, and stiff. On the basis of coating type coronary guidewires market is segmented into hydrophobic and hydrophilic. Hydrophobic coronary guidewires are likely to hold the major share of the market. Based on material coronary guidewires market is categorized into stainless steel, nitinol, and hybrid. Nitinol material have various advantages over the stainless steel and is anticipated to grow at greater CAGR during forecast period. End user for the coronary guidewires market is hospitals, ambulatory surgical centers, cardiac catheterization laboratories, and others. Hospitals are likely to hold major share of the coronary guidewires market by end user owing to prominent channel for distribution of devices manufactured by key players to hospital and favorable reimbursement policies.
Geographically, the global coronary guidewires market has been classified into five regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2016, North America dominated the global market due to high prevalence of cardiovascular diseases and presence of key players. Technological innovations, growing adoption of minimally invasive surgeries, and presence of high class health care infrastructure with skilled physicians are driving the coronary guidewires market in Europe.
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Growing demand for advanced coronary guidewires in emerging economies like China & India, and growing small and domestic players are boosting the market growth in this region. Brazil and Mexico are having significant growth potential owing to the presence of favorable government policies for new entrants. The market in Middle East and Africa is in a development phase and has significant growth potential in coronary guidewires market owing to increasing demand for interventional procedures performed.
Key players operating in the global coronary guidewires market includes Abbott Laboratories, Terumo Medical Corporation, Integer Holdings Corporation, Cardinal Health, Inc., Merit Medical Systems, Inc., Boston Scientific Corporation, BIOTRONIK SE & Co. KG and Medtronic.
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