Increase in Surgical Procedures To Generate Huge Demand for Guidewires in Future
As the number of surgical procedures increases in the future, the demand for guidewires will also witness a surge. During catheterization, either as part of a diagnostic or surgical procedure, a guidewire is pushed through a vein or artery to the desired organ or tissue inside the body. The guidewire is then used to ascertain the path the catheter is to take through the body. After the catheter is inserted, the guidewire is pulled out. Unlike the past, people are now opting for surgeries to prevent disability and save their lives, as such procedures have become advanced and more accessible.
Keeping in tune with the increasing number of surgical procedures, the guidewires market growth during the forecast period of 2018–2023 will be driven by an increase in the demand for minimally invasive surgeries (MISs), growing prevalence of chronic and lifestyle-related disorders, and favorable reimbursement scenario. The market was able to generate $816.3 million in 2017, and it is set to reach $1,126.5 million by 2023, at a CAGR of 5.5%.
The growth in the cases of cardiovascular disorders (CVDs) will lead to an increase in the demand for coronary interventional procedures, such as percutaneous transluminal angioplasty (PTA) and percutaneous transluminal coronary angioplasty (PTCA). According to a report by the European Association of Cardio-Thoracic Surgery (EACTS) in 2015, the demand for MISs to treat cardiac disorders has risen at a fast pace in the last 10–15 years. These procedures will see a significant rise in volume in the future as well, which will ultimately lead to the increase in the demand for guidewires.
Governments worldwide are working toward decreasing the mortality rate in their nations. To achieve this goal, developing countries are spending more on healthcare, while developed nations are taking multiple initiatives to reduce the burden of hospital-acquired infections (HAIs). The increasing expenditure on healthcare in emerging economies can be witnessed in the rising number of percutaneous coronary interventions (PCI) in India. As per an article published on the National Center for Biotechnology Information (NCBI), in 2017, “A total of 3,87,416 percutaneous coronary intervention (PCI) procedures were performed in 705 centers.” in India.
This study covers
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
• Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
• Major players operating in the market and their service offerings