Guidewire Market to Reach $978 Million Valuation by 2028 |

Westford, USA, September 07, 2022 (GLOBE NEWSWIRE) — guide wire market growth has accelerated in recent years, partly due to technological advances but also due to the growing number of medical procedures that require it. In particular, the use of guidewires has skyrocketed in cancer surgery, where precision is key to ensuring high recovery rates.

Cardiac surgery is another area where the use of guidewires is increasing. Cardiac surgery involves operations on the heart and other organs, and the use of a guidewire can help surgeons perform these procedures more accurately. This not only translates into better outcomes for patients, but also saves time and resources for physicians.

Although the demand for the guidewire market remains high, there are fears that it will lead to shortages in the future. This is because companies that manufacture guidewires are known to be sensitive to changes in industry trends and may be reluctant to increase production if demand increases significantly.

SkyQuest has published a report on the global guide wire market. The report mainly covers market dynamics, trends, opportunities, challenges, value chain and supply chain analysis, porter five, PESTLE, price analysis, technology landscape, key players, market share analysis, competitive landscape, import-export data and major vendors, among others.

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Coronary Guidewire Demand Will Dominate Guidewire Market

The prevalence of heart disease is on the rise worldwide, and this trend is likely due to population growth and advancing age. Globally, more than 8.3 million people died from heart disease in 2021 and 85% of deaths were due to heart attack and stroke. In fact, it is the leading cause of death worldwide, accounting for 32% of total deaths. According to our findings, 16.3 million Americans over the age of 20 suffer from chronic heart disease, representing approximately 7% of the US population. In addition, approximately more than 2.3 billion adults are overweight, up from 1.9 billion in 2016. This increase in obesity and weight-related health problems leads to an increase in the incidence of cardiovascular disease, including coronary heart disease and stroke.

Worldwide, more than 2 million people undergo open-heart surgery each year. Global Coronary Guidewires Market was valued at USD 432 Million in 2021 and is projected to reach a value of USD 666 Million by 2028.

According to a report by the World Health Organization, the prevalence of heart disease has almost quadrupled since 1990, from 1.5% of the world’s population to 4.5%. Most of this growth has been seen in developing countries. In countries like China and India, rates of heart disease are now higher than in Western countries.

Interestingly, heart disease rates in the global guidewire market are highest among overweight or obese people. This may be because obesity increases the risk of cardiovascular disease, including heart disease. Obesity is also a risk factor for other types of cancer. Although heart disease is one of the leading causes of death worldwide, there are ways to prevent it. The most important step is to make healthy choices, such as diet and exercise. Additionally, early detection and treatment are critical for patients with heart disease.

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Ireland, India and the United States are the largest exporters of Guidewire

According to SkyQuest analysis, around 31,100 import shipments were recorded in the global guide wire market in 2021 by 1,081 buyers worldwide. Where, India, Ireland and the United States were the main exporters. We also found that India is the biggest importer among the top 3 global importers such as India, China and Vietnam. In 2021, India recorded the shipment of over 21,000 guide wires, followed by Vietnam (1,988) and China (919).

The study on the global guide wire market revealed that US companies exported $61 million worth of guide wires in 2021, followed by India ($53 million) and Ireland ($21 million) . Since 2009, exports from these three countries have increased by more than 50%. The main reason for this growth is the increasing demand for guidewires around the world. Many medical devices are becoming smaller and more sophisticated, requiring guidewire products to ensure proper functioning. This includes devices used in heart surgery, cancer treatment and other surgeries. The three countries also have solid economic bases which allow them to invest in the technology and manufacture of guidewires. This enables them to produce high quality products at low cost, which helps them maintain their dominant position in the guidewire market.

SkyQuest has performed further analysis of the global guidewire market and prepared a report. It offers a detailed study of Guidewire import and export data by country and region. The report also provides information for more than 1000 buyers worldwide in addition to distributors and potential buyers. The report would help to better understand the current market scenario, major exporters, imports, demand-supply gap, government regulations, and major players important of Guide Wires among others.

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Guidewire Market Clinical Trials

According to the SkyQuest study, currently 13 clinical trials are active in the global market. Most studies focus on coronary heart disease. These studies are designed to test new drugs or treatments in a population of patients with coronary artery disease. This high number of clinical trials is important because new therapies are constantly being developed and tested in an effort to find cures for this serious disease.

Following are the key areas of clinical trials in the guide wires market

  • Acute myocardial infarction
  • Coronary artery damage
  • Atrial fibrillation
  • Coronary disease
  • Stroke
  • Kidney stone

SkyQuest has prepared a report on the global guide wire market. It provides information on ongoing and recently completed clinical trials, their impact on current product, upcoming product launch, technology landscape, key players and their growth strategies, and R&D investments, among others.

Key Players of the Global Guidewire Market

  • Merit Medical Inc. (USA)
  • Terumo Medical Corporation (Japan)
  • Olympus Corporation (Japan)
  • CR Bard, Inc. (USA)
  • Boston Scientific Corporation (USA)
  • Medtronic (Ireland)
  • Abbott (USA)
  • Medical cook (USA)
  • Teleflex Corporation (USA)
  • Cardinal Health Inc. (USA)

Related Reports in the SkyQuest Library:

Global Arthroscopy Fluid Management Disposables Market

Global dialysis equipment market

Global Remote Patient Monitoring Devices Market

Global dental prosthesis market

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