The coronary guidewires market has evolved gradually and comprises of different varieties of guidewire used during coronary intervention procedures. The market is anticipated to grow with fastest CAGR due to increase in the prevalence of coronary artery disease.
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Coronary Guidewires Market: Drivers & Restraints
The primary factor for the growth of global coronary guidewires market is the increasing number of hospital admissions attributed to rising incidence of atherosclerosis patients, and rising prevalence of CAD (Coronary Artery Disease) worldwide. Secondly growing healthcare expenditure levels and the introduction of advanced technologiesin balloon catheter drives the market growth for coronary guidewires over the forecast period. Also increase in the number of new product launches also the drives the revenue growth of coronary guidewires market. However high cost of angioplasty procedures along with availability of anti-atherosclerotic drugs is expected to hamper the revenue of coronary guidewires market over the forecast period.
Coronary Guidewires Market: Segmentation
This market is segmented on the basis of tip flexibility, coating, material and end user
Segmentation based on tip flexibility
Segmentation based on coating
Segmentation based on material
Segmentation based on end user
Cardiac Catheterization Laboratories
Coronary guidewires market is mainly dominated by trends such as availability of floppy and middle weight guidewires for left main PCI (percutaneous coronary intervention). Also availability of advanced treatment option such as drug eluting balloons, also drives the demand for coronary guidewires over the forecast period. However presence of different types of guide wires provides good number of options to the surgeons for selecting a guide wire for PCI procedures which in turn drives the market for coronary guidewires over the forecast period.
Coronary Guidewires Market: Overview
Depending on geographic region, the coronary guidewires market is segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa.
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Globally, coronary guidewires market is expected to witness healthy growth in the near future due to increasing prevalence of coronary artery disease and the rise in per capita expenditure on healthcare in the developing nations. North America is expected to hold major share of global coronary guidewires market followed by Western Europe owing to technological advancement, increasing number of players in coronary guidewires market and increasing awareness regarding angioplasty procedures. Also it has been analyzed that coronary guidewires have been widely adopted in clinical practice and is associated with improved clinical outcomes in Western Europe. Asia-Pacific market is expected to register fastest growth owing to the rise in geriatric population and increasing obesity, which ultimately gives rise to the number of patients suffering for coronary artery diseases over the forecast period.
Coronary Guidewires Market: Key Players
Some of the key market players in coronary guidewires market includes Medtronic, Boston Scientific, Abbott Laboratories, Cordis, Ovalum Ltd., JOTEC GmbH, QXMédical, LLC etc. these players are entering into mergers & acquisitions, strategic collaborations, and product portfolio expansions, distribution agreements which are their key sustainability strategies. Secondly many local players have started entering in this lucrative market.
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