The global guidewires market is poised to experience a robust growth period owing to the increasing prevalence of cardiovascular and other heart diseases. According to the WHO, cardiovascular diseases are the number one cause of death in the world. In 2016, 31% (17.6 million) of all global deaths were caused by cardiovascular diseases, the WHO estimates. The American Heart Association predicts that by 2030, more than 23.6 million people will die of cardiovascular disorders, which will favor broadening of the global guidewires market size in the forecast period. Since surgical procedures related to the heart are complex and critical, the demand for guidewires is likely to climb in the coming decade.
Fortune Business Insights profiles some of the key participants in the global guidewires market:
- Cardinal Health
- Teleflex Incorporated
- Boston Scientific Corporation
- Terumo Medical Corporation
- BTG International Ltd
- ENDO-FLEX GmbH
Increasing Innovations to Enhance Market Competition
Major players in the global guidewires market are engaged in developing novel products and diversifying their product portfolio. For example, Boston Scientific Corporation developed a guidewire by the name of ZIPwire, which is kink-resistant and has hydrophilic coating, ensuring reduced trauma and reliable access to the ureter. Governmental clearances are also building confidence in market players to innovate. For instance, FDA green lit Teleflex Incorporated’s product called Specter Guidewire in 2017.