Guidewires Market Size, Share & Trends Analysis Report By Product (Coronary Guidewires, Peripheral Guidewires), By Region (North America, Europe), By Region, And Segment Forecasts, 2024 - 2030

Guidewires Market Size & Trends

The global guidewires market size was estimated at USD 2.58 billion in 2023 and is projected to grow at a CAGR of 5.5% from 2024 to 2030. Growth in the guidewires industry is primarily attributed to an increase in urological disorders, peripheral artery disease (PAD), and cardiovascular diseases (CVD). For instance, according to the PCR online, CVD continues to be the primary cause of death for both men and women worldwide. As of 2023, the global population is 8.0 billion, with approximately 620.0 million individuals living with heart and circulatory diseases. Each year, approximately 60.0 million people worldwide develop heart or circulatory diseases.

Moreover, angina pectoris, a leading cause of morbidity and mortality globally, affects a significant number of individuals. For instance, according to the National Library of Medicine, the prevalence of angina pectoris worldwide ranged from approximately 2.0% to 7.0% in 2024. Additionally, in 2023, there were over 2,806,000 reported cases of angina pectoris in China. There is evidence that angina doubles the risk of serious cardiovascular events. Currently, coronary artery disease (CAD) accounts for 4.1 million deaths in Europe annually, with individuals over 65 accounting for 82.0% of these deaths.

The growing number of minimally invasive surgeries are majorly propelling the demand for guidewires. For instance, as per a NCBI study published in February 2022, among the studied population, approximately 57.0% of patients opted for minimally invasive treatment based their decision on the recommendation of healthcare professionals who endorsed this approach. Studies have shown that both healthcare professionals and patients exhibit a greater inclination towards minimally invasive procedures compared to traditional methods. Therefore, increasing the adoption of minimally invasive procedures may positively impact market growth. Additionally, according to the Far North Surgery report published in March 2024, the demand for minimally invasive procedures is expected to continue rising significantly, potentially surpassing 44.0 billion by the year 2030, indicating a growing trend towards less intrusive medical interventions in the upcoming years.

Technological advancements are one of the key factors boosting the application of guidewire. Advanced guidewires can be customized for specific requirements and can be operated remotely. This leads to an increased success rate of the procedures, and thus the overall adoption rate for minimally invasive surgeries. The integration of these guidewires with imaging modalities and surgical robots has endless applications in modern surgical practices. For instance, in April 2024, Teleflex Incorporated introduced the Wattson Temporary Pacing Guidewire, designed specifically for use during Balloon Aortic Valvuloplasty (BAV) and Transcatheter aortic valve replacement (TAVR). This guidewire offers supporting valve delivery, dual functionality, and ventricular bipolar pacing. It aims to improve procedural efficiencies and reduce complications associated with traditional methods.

Furthermore, the ongoing research studies are also contributing to market growth. For instance, in April 2022, MicroVention, Inc., a subsidiary of Terumo Corporation, successfully completed the first enrollment in a multicenter, prospective EU observational study known as STRAIT (Safety and Efficacy Study of the Traxcess EX Guidewire and Other Vascular Devices in the Treatment of Intracranial Aneurysms). This study was aimed to assess the safety and efficacy of the Traxcess EX Guidewire and other vascular devices in treating intracranial aneurysms.

Additionally, rising geriatric population further fuels market growth. For instance, WHO estimates that by 2030, 1 in 6 people worldwide would be 60 years of age or older. The same demographic will double by 2050. Moreover, diseases are far more common among older adults. These include cardiovascular disease, ischemic heart disease, vascular dementia, and multiple sclerosis, among others. According to the National Center for Health Statistics, in 2020, 6.3% of adults aged 18 years and over had diagnosed heart disease in the U.S. This estimate is based on household interviews of a sample of the civilian, noninstitutionalized U.S. population.

Additionally, in 2023, findings from the Institute for Health Metrics and Evaluation study on the global burden of cardiovascular diseases and risks for the period 1990-2022 reveal significant insights.

• Age-standardized cardiovascular disease (CVD) mortality rates varied regionally, ranging from 73.6 per 100,000 in High-income Asia Pacific to 432.3 per 100,000 in Eastern Europe in 2022.

• Global CVD mortality demonstrated a significant decrease by 34.9% from 1990 to 2022.

• Leading Causes of Disability-Adjusted Life Years (DALYs): ischemic heart disease emerged as the leading global cause with age-standardized DALYs at 2,275.9 per 100,000. Intracerebral hemorrhage and ischemic stroke followed closely as prominent CVD causes for age-standardized DALYs.

• Age-Standardized CVD Prevalence: Varied globally, with rates ranging from 5,881.0 per 100,000 in South Asia to 11,342.6 per 100,000 in Central Asia.

• Leading Risk Factor: High systolic blood pressure accounted for the largest number of attributable age-standardized CVD DALYs at 2,564.9 per 100,000 globally.

Significant Changes in Risk Factors (1990 to 2022): Household air pollution from solid fuels experienced the most substantial change, with a notable 65.1% decrease in attributable age-standardized DALYs.

Market Concentration & Characteristics

The guidewires market is characterized by a growing concentration driven by growing technological advancements and increasing healthcare demand for continuous medicinal solutions. The market is marked by significant R&D investments, collaborations, and product innovations, ensuring robust growth. Companies focus on developing user-friendly, non-invasive, and highly accurate platforms for various online pharmacies.

The guidewires industry exhibits a high degree of innovation, such as the introduction of technological advancements has revolutionized urology guidewires in terms of sufficient flexibility and lubricity to navigate a tortuous ureter and pass possible obstructions. The E-Z Glider, Quattro, PTFE-Coated, Bentson, and Amplatz urology guidewires by Olympus ensure the right combination of torque, lubricity, and visibility for optimum results by providing a variety of sizes, core materials, coatings, and tips. All these guidewires are designed to ensure smooth tracking, rapid access, and maximum maneuverability. Zebra urology guidewire by Boston Scientific has kink-resistant nitinol core and PTFE coating jacket for torqueability, and a platinum distal tip for visual feedback. Such developments are projected to provide lucrative growth opportunities for the industry players.

The industry is significantly influenced by stringent regulatory norms and quality protocols imposed by various organizations, including the FDA. Manufacturers aligning to robust compliance measures and a track record of following regulatory standards gain visibility from MedTech sponsors. For instance, in June 2023, Teleflex Wattson Bipolar Temporary Pacing Guidewire received FDA clearance for use in heart procedures. This guidewire is specifically designed for transcatheter aortic valve replacement (TAVR) and balloon aortic valvuloplasty (BAV) procedures. The device offers dual functionality, supporting both valve delivery and ventricular bipolar pacing during these structural heart interventions.

 Mergers and acquisitions in the industry are rising due to the need for R&D, reflecting the industry's dynamic nature. Companies are leveraging M&A activities to innovate and offer advanced solutions that meet the evolving needs of healthcare professionals. For instance, in June 2024, Silk Road Medical announced a definitive agreement to be acquired by Boston Scientific. This acquisition marks a significant development in the medical technology industry and is expected to have various implications for both companies involved.This strategic move is likely to expand Boston Scientific’s portfolio of minimally invasive treatment options for cardiovascular diseases and enable Silk Road Medical to leverage Boston Scientific’s commercial infrastructure to accelerate the adoption of its TCAR technology on a larger scale.

The market players are leveraging technology to enhance the overall patient care services. In June 2023, Sensome announced a partnership with Asahi Intecc, a Japanese medical device company, to work on the development of the next-generation Clotild Smart Guidewire for stroke treatment. This partnership aims to combine Sensome’s expertise in sensor technology with Asahi Intecc’s experience in medical devices to create an innovative solution for better stroke management.

The companies are leveraging their combined expertise, resources, and technologies to further improve patient outcomes and advance the field of guidewires. For instance, in November 2022,Guidewire expanded its technology distribution into the London market. This move is driven by the belief that automation can bring significant efficiency to the London Market’s unique underwriting processes. Sheridon Glenn, Guidewire’s global vice president for strategic markets and initiatives, highlighted the complexity of risks underwritten in the London Market, emphasizing the need for specialists and multiple insurers throughout the process.

Product Insights

The coronary guidewires segment accounted for the largest market share of 43.2% in 2023. This dominance is driven by the increase in demand for minimally invasive coronary surgery and the increasing prevalence of cardiovascular disease. For instance, according to the FDA, in January 2023, heart disease was the major cause for almost one in four deaths in the U.S. Moreover, according to the CDC, it was reported in May 2024 that approximately 25.0 million adults in the U.S. have total cholesterol levels above 240 mg/dL, which is considered high. High cholesterol and uncontrolled high blood pressure are both significant risk factors for cardiovascular disease, heart disease, stroke, and other detrimental conditions.

In addition, high blood pressure is among one of the heart disease leading causes of premature death on a global scale. For instance, as reported by WHO in March 2023, it is estimated that around 1.28 billion adults between the ages of 30 and 79 worldwide are affected by hypertension. Throughout the projection period, the segment's dominance is anticipated to be aided by the introduction of new technologies.

The neurovascular guidewires segment is expected to grow at the fastest CAGR over the forecast period. This rapid growth is majorly owed to an elevated risk of neurovascular conditions that impact the cerebellum, spinal cord, and brain vascular system, including aneurysms, cavernoma, arteriovenous malformations, dural arteriovenous fistula, cerebral hemorrhage, and stroke. The existence of vital blood vessels makes the treatment of such illnesses difficult.

The segment is growing, as these devices are increasingly used in complex neurovascular minimally invasive procedures. For instance, in May 2023, EOSolutions Corp., introduced the Dr. Banner Balloon Guide Catheter (BGC) with several innovative features. One of the key features of Dr. Banner is its largest inner diameter (ID) of 0.091 inches. Recently, EOSolutions also announced the 510k submission of the Thinline 8F Sheath, designed to complement Dr. Banner’s features and ensure maximal compatibility through an 8F sheath profile. Dr. Banner’s ID of 0.091 inches provides a wide lumen for seamless device delivery, enabling efficient navigation of complex anatomies and the use of larger therapeutic devices. This feature is particularly beneficial for neurovascular interventions, where precise and effective treatment options are essential for positive patient outcomes.

Regional Insights

North America market accounted for the largest share of 35.2% in 2023. The growing preference for minimally invasive surgeries is driving regional demand. This is mainly attributed to the high prevalence of heart diseases and rise in the number of coronary and peripheral interventions. In January 2024, the world’s first partial heart transplant was conducted by a team at Duke Health. The transplant successfully achieved functioning valves and arteries that grow along with the young patient. This groundbreaking procedure marks a significant advancement in the field of cardiac surgery and offers hope for patients with complex heart conditions.

Additionally, the presence of key players such as Abbott; Terumo Medical Corporation; B. Braun Melsungen AG; and Boston Scientific Corporation is also one of the indicators that depicts its current huge market potential. The growing prevalence of cardiovascular diseases and rising preference for minimally invasive surgeries in the U.S. are key drivers supporting the regional market's expansion.

U.S. Guidewires Market Trends

The U.S. held a significant share of North America market in 2023. The market’s growth is expected to be boosted by the increasing infertility rates in the country. For instance, as per the data published by CDC in May 2024, it is projected that in the U.S., approximately 19.0% of heterosexual women aged 15 to 49 years with no prior births are unable to conceive after one year of trying, while around 26.0% experience challenges in getting pregnant or maintaining a pregnancy. This suggests that the market for fertility treatments and services is poised for continued growth.

Europe Guidewires Market Trends

The Europe market held a significant share in 2023 due to increasing production of guidewires in the region. For instance, in November 2023, Integer emphasized its European expansion plans at the Medica/CompaMed event, particularly focusing on investments in its facilities in Ireland. The company has expanded its New Ross facility for guidewire manufacturing to meet the increasing demand for OEM and custom-developed guidewire products. Additionally, this expansion includes specialized capabilities in complex delivery wire grinding and assembly to cater to markets such as neurovascular, structural heart, electrophysiology, and peripheral vascular. Integer is also enhancing its offerings in medical textiles, complex braiding, implant covering, and coatings like ePTFE to serve its European customer base better.

The UK guidewires market is experiencing notable growth, driven due to the presence of stringent regulations and guidelines in the country. For instance, the implementation of future regulations regarding medical devices in the UK, as outlined in the document provided by the UK government, plays a significant role in shaping the market demand for medical devices such as guidewires. The regulatory framework governing medical devices is crucial for ensuring patient safety, product quality, and innovation within the healthcare industry.

The guidewires market in Germany is evolving due to the rising aging population, growing prevalence of cardiovascular issues, presence of a sophisticated healthcare system, a highly qualified workforce, and high healthcare spending. Moreover, the increasing technological advancements in monitoring devices, supportive reimbursement policies, and strategic collaborations within the healthcare industry is further boosting the market growth.

Asia Pacific Guidewires Market Trends

The Asia Pacific market is experiencing significant growth, which is driven by the increasing prevalence of chronic diseases, rising geriatric population, and increasing healthcare expenditure. For instance, as per the JACC Journals report published in December 2023, the age-standardized cardiovascular disease (CVD) mortality rates among countries in High-income Asia Pacific ranged from 72.7 to 252.6 per 100,000, representing a 3.5-fold difference in 2022. Furthermore, investments in healthcare infrastructure, favorable government initiatives, and untapped opportunities in emerging countries such as China and India also remain promising drivers of growth. Additionally, the market growth is also driven by a large geriatric population, high frequency of heart disease, and demand for advanced minimally invasive surgery techniques with faster results and higher accuracy.

The Guidewires market in Japan is poised for rapid growth, driven by the increasing strategic initiatives by the market players. For instance, in July 2024, Sensome signed an exclusive commercial distribution agreement with Cosmotec, a prominent distributor in Japan. The agreement pertains to the distribution of Sensome’s innovative clot-sensing guidewire in the Japanese market. This partnership signifies a significant step forward in the availability and accessibility of advanced medical devices in Japan. By leveraging Cosmotec’s established distribution network and expertise in the region, Sensome aims to introduce its cutting-edge clot-sensing guidewire to healthcare providers and patients across Japan.

The China guidewires market is gaining traction for healthcare monitoring due to the increasing technological advancements in the country. For instance, in June 2024, MicroPort Coronary achieved a significant milestone with its Intravascular Piezoelectric Guidewire System gaining access to the “Green Path” in China. This regulatory pathway expedites the approval process for innovative medical devices that address unmet clinical needs and offer significant advancements in patient care. The “Green Path” designation signifies that the Intravascular Piezoelectric Guidewire System meets the stringent criteria set forth by Chinese regulatory authorities for fast-track approval. This recognition underscores the system’s clinical value, safety profile, and potential to address critical needs within the healthcare landscape.

Latin America Guidewires Market Trends

The Latin American market is experiencing a lucrative growth rate due to the rising awareness regarding cardiovascular issues and treatments by conducting programs. For instance, according to the Society of Thoracic Surgeons, STS/EACTS/LACES Cardiovascular Surgery Conference, Latin America, is planned to be held in December 2024. The 2024 program is meant to showcase the latest advancements and best practices in coronary artery disease, congenital heart disease, thoracic aortic disease, atrial fibrillation, and the surgical treatment of heart failure.

The guidewires market in Brazil is poised for rapid growth owing to the increasing strategic initiatives by the market players in the country and growing application of guidewires in the country. For instance, in September 2023, the Reewarm PTX Drug Coated Balloon (DCB) Catheter, developed by Endovastec was introduced in Brazil with a successful implantation procedure. This milestone marks the continued expansion of the product into international markets, aiming to provide advanced treatment options for patients globally. The procedure was carried out by the medical team at Paulo Sacramento Hospital in Sao Paulo, Brazil. The positive outcomes observed from this initial implantation pave the way for future applications of the technology across different regions, contributing to enhanced patient care and treatment outcomes worldwide.

MEA Guidewires Market Trends

The MEA market is fueled by the growing focus on improving healthcare infrastructure and access to advanced medical technologies. Government initiatives in several countries are playing a crucial role. For example, Saudi Arabia's Vision 2030 healthcare transformation plan emphasizes adopting innovative medical technologies. This, coupled with increasing investments in healthcare facilities, is creating a more receptive environment for guidewires, hence driving the Saudi Arabia market.

The Guidewires market in South Africa is anticipated to expand in the forecast period. This growth is attributed to increasing geriatric population in the country. For instance, according to the Census 2022 by the Republic of South Africa, around 5.0 million people were aged more than 60, constituting 9.2% of the total population in the country. The rising number of people with disabilities countrywide is also boosting market demand.

Key Guidewires Company Insights

The market is highly competitive, with key players holding significant positions. The major companies are undertaking various organic as well as inorganic strategies such as new product development, collaborations, acquisitions, mergers, and regional expansion for serving the unmet needs of their customers.

Recent Developments

• In June 2024, Medtronic launched the Steerant Aortic Guidewire for EVAR and TEVAR procedures. The device is designed to facilitate catheter placement and exchange during diagnostic or interventional procedures in the aorta, providing support for endovascular aneurysm repair (EVAR) and thoracic EVAR (TEVAR) of abdominal aortic aneurysms.

• In March 2024, Baylis Medical Technologies Inc. announced the 510(k) clearance and launch of the PowerWire Pro Radiofrequency (RF) Guidewire in the U.S. This new device is designed to facilitate venous stent recanalization for total occlusions, particularly in patients with stenotic or occluded peripheral vessels. The PowerWire Pro RF Guidewire employs radiofrequency technology to cross totally occluded stents in peripheral vessels, allowing selective application of RF energy to cross segments of the occlusion that cannot be traversed mechanically.

• In April 2023, Guangdong Hicicare Science (Hicicare) and Zylox-Tonbridge Medical Technology entered into a partnership agreement to facilitate commercializing vascular guidewire products under a co-branded label in China. This collaboration is focused on launching innovative vascular access solutions for neuro and peripheral-vascular interventional device market segments.

Guidewires Market Report Scope

Global Guidewires Market Report Segmentation

This report forecasts revenue growth at country levels and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global guidewires market report based on product and region:

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Coronary Guidewires

  • Peripheral Guidewires

  • Urology Guidewires

  • Neurovascular Guidewires

• Region Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Thailand

  • Latin America

    • Brazil

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait