Guidewires Market Players Need to Develop Effective Interventions to Address Rising Prevalence of NCDs: FMI Study – PRNewswire

DUBAI, U.A.E, July 1, 2020 /PRNewswire/ -- The global guidewires market is slated to reach ~US 6.0 Bn by 2030 according to a new study by consulting firm Future Market Insights. As end-user demand for treating various diseases accelerates, guidewires production has picked up pace in recent years.

As the incidences of non-communicable diseases (NCDs) such as cancer, diabetes and chronic respiratory diseases continue to increase, healthcare providers are making concerted efforts to reduce their prevalence by providing sophisticated medical care. Therefore, adoption of technologically enhanced guidewires has acquired immense importance.

Over the years, minimally invasive surgeries have become highly popular, due to the need to reduce trauma. On the back of this, guidewires adoption has boomed. Guidewire engineering has transitioned towards advanced lesions such as chronic total occlusions (CTO) which are more adept at improving cardiac anomalies by improving ischemia and improve left ventricular function. Therefore, market players are introducing innovative products to cater to CTO lesions.

A minor blip is anticipated for the guidewires market from the coronavirus pandemic. Due to the imposition of lockdowns, many manufacturers are operating at reduced capacities, limiting daily output of guidewires. This has generated a significant disequilibrium in the demand-supply dynamics. This mismatch is anticipated to prevail until the last quarter of 2020, until production resumes at full capacity.

"Guidewire manufacturers need to concentrate on cost management and product distribution by collaborating with regional players in order to expand geographical presence. Furthermore, widening the product portfolio by virtue of introducing technologically enhanced guidewires is a trump card for market success, which is being capitalized upon," infers an FMI analyst.

Request report sample with 300+ pages to gain in-depth market insights at https://www.futuremarketinsights.com/reports/sample/rep-gb-11706

Key Takeaways from the Guidewires Market Study:

Hand Sanitizer Market: Key Trends

Hand Sanitizer Market: Region-wise Analysis

Guidewires Market: Competitive Landscape

The global guidewires market is characterized by the presence of prominent regional as well as global vendors, making it highly competitive in nature. Principal growth strategies include promotion of inorganic growth, diversification of product portfolios through new product launches, optimization of production costs, technological enhancements and collaboration with other players to broaden geographical presence.

On the collaboration front, Boston Scientific partnered with the Mayo Clinic to set in motion the development of minimally-invasive technologies for urology, neuromodulation, endoscopy, heart rhythm management and interventional cardiology in 2019.

For product launches, Cardiovascular Systems Inc., doled out its Viper Wire Advance Coronary Guidewire which received clearance from the US FDA in October 2019. Earlier in May of the same year, Medtronic unveiled its Telescope Guide Extension Catheter to provide additional backup support and access to distal lesions.

Guidewires Market Taxonomy:

Product Type

Diagnostic Guidewires

Interventional Guidewires

Application

Material Type

Tip Shape

End User

Region and Country

North America

Latin America

Europe

East Asia

South Asia

Middle East & Africa

For information on the research approach used in the report, request [emailprotected]https://www.futuremarketinsights.com/askus/rep-gb-11706

Get Valuable Insights into the Guidewires Market

Future Market Insights offers actionable insights and unique perspective on guidewires market in its latest study, presenting historical demand assessment from 2015 2019 and projections from 20202030 based on product type (interventional guidewires and diagnostic guidewires), by application (coronary guidewires, peripheral guidewires, urology guidewires, radiology guidewires, neurovascular guidewires, gastroenterology guidewires and others) by material type (Nitinol guidewires, PTFE guidewires, stainless steel guidewires and hybrid guidewires) by tip shape (J tip, angled tip and straight tip) by end-user (hospitals, ambulatory surgical centers, cardiac catheterization laboratories and specialty clinics) in seven key regions.

Explore Extensive Coverage of FMI's Healthcare, Pharmaceuticals and Medical Devices Reports

Ophthalmic Diagnostic Equipment Market: FMI's recent study on the ophthalmic diagnostic equipment market offers an opportunity assessment for the upcoming decade. The report contains a comprehensive assessment of key dynamics, opportunities and restraints impacting growth trajectory between 2020 and 2030.

Injectable Benzodiazepine Market: A comprehensive 360-degree analysis of the injectable benzodiazepine market brings to fore valuable insights that can help stakeholders identify opportunity clusters and challenges across key segments and regions.

Contrast Media Injectors Market: FMI's research report on the contrast media injectors market incorporates a detailed analysis based on product type and end-user across seven key regions. It provides insights on the vital growth dynamics steering the market during the forecast period 2020-2030.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries.FMIis headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI's latestmarket research reportsand industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact

Mr. Abhishek Budholiya Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A, Jumeirah Lakes Towers, Dubai, United Arab Emirates MARKET ACCESS DMCC Initiative For Sales Enquiries: [emailprotected] For Media Enquiries: [emailprotected] Market Report: https://www.futuremarketinsights.com/reports/guidewires-market

Press Release Source: https://www.futuremarketinsights.com/press-release/guidewires-market

Logo: https://mma.prnewswire.com/media/1197648/FMI_Logo.jpg

SOURCE Future Market Insights

Read this article:
Guidewires Market Players Need to Develop Effective Interventions to Address Rising Prevalence of NCDs: FMI Study - PRNewswire