Guidewires Market Outlook - Top Companies, Trends and Future Prospects Details
The rising prevalence of chronic and lifestyle-associated disorders, encouraging reimbursement scenario, and the rising demand for minimally invasive surgeries (MISs) helped the guidewires market reach $816.3 million in 2017.
By: P&S Intelligence
The key trend in the guidewires market (https://www.psmarketresearch.com/
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The increasing number of chronic and lifestyle-associated diseases is a major driving factor for the guidewires market. Chronic conditions such as hypertension, diabetes, and hypercholesterolemia tend to occur due to poor lifestyle choices and increasing age. These can lead to chronic obstructive pulmonary disease, heart diseases, some types of cancer, metabolic syndrome, and obesity. In 2015, the Organization of Economic Cooperation and Development published a report that stated that 19.5% of the adult population in the OECD countries was obese.
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The segments of the guidewires market are geography, material type, end user, product, and application. The application segment is subdivided into gastroenterology, coronary, neurovascular, peripheral, and urology. In 2017, with 36.9% contribution, the coronary subdivision was the largest application area of guidewires. This is mainly attributed to the rising incidence of cardiac problems across the world. The World Health Organization mentioned that about 31.0% of the global deaths occurred due to cardiovascular diseases in 2015.
Therefore, the market for guidewires is projected to flourish during the forecast period owing to the growing chronic disease burden.
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