Top 6 Companies Driving the Global Guidewires Market

Boston Scientific Corporation, Medtronic Plc, Teleflex Incorporated, Cardinal Health Inc., Terumo Medical Corporation, and Abbott Laboratories, among others are the major players in the global market for guidewires.

As per the analysis by Expert Market Research, the global guidewires market is expected to grow at a CAGR of 5.8% in the forecast period of 2022-2027, owing to the increasing demand for minimally invasive surgeries.

In recent years, people have started opting for minimally invasive surgeries over traditional surgeries due to the rising safety concerns. Furthermore, minimally invasive procedures involve a low cost in comparison to their traditional counterparts. This is resulting in increased demand for guidewires in the healthcare industry. 

Additionally, change in lifestyle scenarios has led to people living a sedentary life, which puts them at a higher risk of chronic diseases such as heart disease and stroke. This, in turn, is resulting in an increased number of surgeries across the globe. This is further driving the growth of the guidewires market.

Based on product, the neurovascular segment is expected to account for a significant market share for guidewires. This can be attributed to the increasing number of neurovascular neuroradiology procedures being conducted globally. The treatment of neurovascular disease with guidewires has become quite popular due to the relatively lower risk associated with surgeries involving guidewires in comparison to conventional procedures. Furthermore, the low cost of neurovascular guidewires makes it a popular choice among the doctors and surgeons.

Region-wise, North America is expected to remain the leader in the guidewires market over the forecast period owing to the increasing demand for minimally invasive surgeries among Americans along with an increase in awareness about the reimbursement policy offered by the government. Furthermore, the rise in neurovascular diseases like brain aneurysms, cerebral infarction, and stroke is expected to result in increased demand for guidewires globally.

Over the forecast period, technological developments in the grinding process are expected to favour the growth of the industry.

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Top 6 Global Guidewires Companies:

Boston Scientific Corporation

A manufacturer of medical devices used in interventional medical specialties, such as endoscopy, oncology, urology, and gynaecology, is Boston Scientific Corporation. These specialties include interventional radiology, interventional cardiology, peripheral interventions, neuromodulation, neurovascular intervention, and electrophysiology.

Medtronic Plc

A medical technology firm, Medtronic Plc (Medtronic), originally known as Medtronic Inc., creates, develops, produces, and sells a variety of medical products. It provides products for the treatment of conditions such heart valve issues, heart failure, aortic issues, peripheral vascular problems, venous renal complications, and neurological problems, in addition to spine and musculoskeletal issues, and ear, nose, and throat conditions.

Teleflex Incorporated

The American company Teleflex Incorporated, with its corporate headquarters in Wayne, Pennsylvania, offers a variety of speciality medical devices for use in critical care and surgery. The company primarily creates, produces, and distributes single-use medical devices for use by hospitals and other healthcare facilities in critical care and surgical applications. 

Cardinal Health Inc.

Cardinal Health Inc. is a supplier of integrated healthcare goods and services. It sells branded and generic medications, speciality drugs, and over-the-counter healthcare and consumer goods, as well as lab items, surgical instruments, and medical equipment. Additionally, it runs nuclear pharmacies, cyclotron facilities, and produces a line of privately branded medical and surgical supplies under its own private label.

Terumo Medical Corporation

One of the top suppliers of medical equipment and supplies in the world is Terumo Medical Corporation. For healthcare providers and the patients they treat, the organisation wants to provide the finest options.

Abbott Laboratories

American global medical device and healthcare corporation Abbott Laboratories is headquartered in Abbott Park, Illinois. The company is well known for its branded generic medications, medical devices, nutrition products, and diagnostics.