MARKET OVERVIEW
Guidewire is a medical device used to position an endotracheal tube, IV catheter, gastric feeding tube or central venous line. During biopsy, it is used to localize a tumor. A guidewire is typically inserted through a small incision in the groin and are also used to guide catheter products to a desired treatment location within the body. It has wide range of applications in various fields such as cardiology, urology, oncology, neurology, gastroenterology and others.
MARKET SCOPE
The "Global Guidewires Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the guidewires market with detailed market segmentation by product, technology, application, end user and geography. The report provides key statistics on the market status of the leading guidewires market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- ? Based on product, the global guidewires market is segmented into surgical guidewires, and diagnostic guidewires? On the basis of material, the market is segmented into stainless steel, nitinol, platinum, titanium, tungsten, others.? Based on application, the market is bifurcated into cardiology, urology, vascular, oncology, neurology, gastroenterology, and others. ? Based on end user the market is segmented into hospitals, diagnostic centers and ambulatory surgical centers
MARKET DYNAMICS
Drivers
- ? Increasing demand for minimally invasive surgeries? Extensive use of guidewires in hospitals and other healthcare facilities? Increasing number of surgical procedures
Restraints
- ? High cost of surgical guidewires
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The guidewires market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the guidewires market in these regions.
IMPACT OF COVID-19 ON GUIDEWIRES MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and medical industry in various countries due to lockdowns, travel bans, and business shutdowns.
As various hospitals and healthcare organizations are struggling with the spread of disease, various medical device companies have diverted their focus in producing personal protection equipment. Companies are focusing on the production of diagnostic kits and monitoring systems. Also, they are tackling the outbreak through increased corporate social responsibility (CSR) activities. Therefore, it expected that the market for the guidewires market would witness slow growth in the coming one or two years.
In addition, the COVID-19 pandemic is perplexing healthcare institutions in the region with unprecedented operational and clinical challenges. Moreover, shift of priorities from cardiovascular treatment to corona virus diagnosis and treatment are leading to decline in guidewires, leading to decline in market growth up to certain extent.
MARKET PLAYERS
The report covers key developments in the guidewires market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from guidewires market are anticipated to lucrative growth opportunities in the future with the rising demand for guidewires in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the guidewires market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ?Abbott?B. Braun Melsungen AG?Boston Scientific Corporation?C. R. Bard, Inc.?Cardinal Health?Cook?Johnson & Johnson Services, Inc.?Medtronic?Olympus Corporation?Terumo Medical Corporation
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.