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Pulished Date June, 2021
ID: 11673
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North America Guidewires Market Research Report - Segmented By product, material, coating, end-user, and Country (the United States, Canada and Rest of North America)- Industry Size, Share, Trends and Growth Forecast (2021 to 2026)

Pulished: June, 2021
ID: 11673
Pages: 190

North America Guidewires Market Size (2021 to 2026)

The size of the guidewires market in the North American region is forecasted to worth USD 561.1 million by 2026 from USD 435.5 million in 2021, registering a CAGR of 5.2% from 2021 to 2026.

The guidewires market in North America is primarily driven by the proliferation of minimally invasive surgical procedures due to its advantages, such as faster recovery time and smaller incisions. Also, technological advancements in the healthcare sector are expected to increase market growth. The other factors chronic factors such as diabetes, increasing cardiovascular diseases lead to the surgical interventions with a disease progression, therefore growing burden on the chronic disease conditions is most likely to augment the market growth. Additionally, the growing geriatric population in the country is prone to many chronic disorders, including neurovascular disorders, cardiovascular and urological diseases, which are propelling the market growth. Favorable reimbursement policies by the United States encourage new market entrants.

Moreover, government initiatives for increasing alternative treatment accessibility are driving the market in the U.S. The major companies in the U.S. are introducing the new products into the market, thereby increasing the investments for the new product development is augmenting the market growth, for instance, The RevoWave Endoscopic Guidewire and CleverLock guidewire Locking Device have been launched in the United States by Olympus Corporation, one of the leading companies in the guidewire industry. The newly released guidewire is anticipated to provide painless biliary cannulation. In addition, growing endoscopic procedures and rising demand for advanced guidewires is projected to propel the market growth. In the recent period, the studies conducted by the American Heart Association estimated that there had been 15.5 million population in the United States suffering from coronary heart diseases, which influences the demand for advanced guidewires. Moreover, advancements in diagnostics and surgical equipment are projected to prove significant growth opportunities for minimally invasive surgeries, which is likely to boost the market growth in North America.

However, the high cost of surgical guidewires and rising cuts with excise tax is expected to hamper the growth rate of the North American guidewires market.

Impact of COVID-19 on North America guidewires market:

The ongoing SARS-COV-2 has affected the medical device industry and guidewire market. The emergence of the global pandemic had a negative impact on the market growth during the first half of 2020. The business has slowed down due to the supply chain disruption across the globe. Many manufacturing companies in the United States had been faced difficulties as there was a limited shortage of human resources. The employees have been restricted to work from home. The production of guidewires and medical devices has been stopped and postponed.

Moreover, the market has gained momentum after the unlock of the lockdown. The manufacturing of medical devices has been resumed. The demand for guidewires increased significantly. The major companies in the U.S. are manufacturing the device to meet the required demand. However, the guidewire market in the United States is projected to have significant growth in the next five years owing to increasing chronic diseases and technological advancements in the healthcare sector.

This market research report on the North American guidewires market has been segmented and sub-segmented into the following categories.

By Product:

  • Coronary Guidewire
  • Peripheral Guidewire
  • Urology Guidewire
  • Neurovascular Guidewire
  • Others

By Material:

  • Nitinol
  • Stainless steel
  • Others

By Coating:

  • Coated
  • Non-Coated

By End-User:

  • Hospitals and Clinics
  • Diagnostic Centres

By Country:

  • The United States
  • Canada
  • Rest of North America

Geographically, the North American guidewires market had accounted for the most significant share in the global market in 2020, and it is expected to continue its dominance over the forecast period. The market growth is majorly attributed to the growing patient preference for minimally invasive surgical procedures and favorable reimbursement policies for guidewires. Also, growing healthcare expenditure in U.S. and initiatives by the government for new product developments in the country is more likely to increase the market growth. Mergers and acquisitions and new market entrants influence the market to expand. The coronary segment is expected to have a significant share in the coming years due to the increasing minimally invasive coronary procedures. However, advancing healthcare infrastructure and technological advancements in the guidewires is predicted to grow. The U.S has witnessed new product launches by major companies; for instance, The RevoWave Endoscopic Guidewire and CleverLock guidewire Locking Device have been launched in the United States by Olympus Corporation, one of the leading companies in the guidewire industry.

KEY MARKET PLAYERS:

Medtronic, Boston Scientific, CR Bard, Abbott Laboratories, Terumo Corporation, B. Braun, Johnson & Johnson, Stryker Corporation, Olympus Corporation, Angiodynamics, Cardinal Health, Merit Medical Systems, Teleflex, Cook Group & Asahi Intecc are a few of the notable companies operating in the North American Guidewires market.

  1. INTRODUCTION
    1. Market Definition
    2. Study Deliverables
    3. Base Currency, Base Year and Forecast Periods
    4. General Study Assumptions
  2. RESEARCH METHODOLOGY
    1. Introduction
    2. Research Phases
      1. Secondary Research
      2. Primary Research
      3. Econometric Modelling
      4. Expert Validation
    3. Analysis Design
    4. Study Timeline
  3. Report Overview
    1. Executive Summary
    2. Key Inferences
  4. Market Dynamics
    1. Impact Analysis
      1. Drivers
      2. Restraints
      3. Opportunities       
    2. Regulatory Environment
    3. Technology Timeline & Recent Trends
  5. Competitor Benchmarking Analysis
    1. Key Player Benchmarking                    
      1. Market share analysis      
      2. Products/Service
      3. Regional Presence               
    2. Mergers & Acquisition Landscape                     
    3. Joint Ventures & Collaborations
  6. MARKET SEGMENTATION
    1. By Product
      1. Coronary Guidewire
      2. Peripheral Guidewire
      3. Urology Guidewire
      4. Neurovascular Guidewire
      5. Others
      6. Y-o-Y Growth Analysis, By Product
      7. Market Attractiveness Analysis, By Product
      8. Market Share Analysis, By Product
    2. By Material
      1. Nitinol
      2. Stainless steel
      3. Others
      4. Y-o-Y Growth Analysis, By Material
      5. Market Attractiveness Analysis, By Material
      6. Market Share Analysis, By Material
    3. By Coating
      1. Coated
      2. Non-Coated
      3. Y-o-Y Growth Analysis, By Coating
      4. Market Attractiveness Analysis, By Coating
      5. Market Share Analysis, By Coating
    4. By End-users
      1. Hospitals and Clinics
      2. Diagnostic Centres
      3. Y-o-Y Growth Analysis, By End-User
      4. Market Attractiveness Analysis, By End-User
      5. Market Share Analysis, By End-User
  7. GEOGRAPHICAL ANALYSIS
    1. Introduction
      1. Regional Trends
      2. Impact Analysis
      3. Y-o-Y Growth Analysis
      4. Market Attractiveness Analysis
      5. Market Share Analysis
    2. North America
      1. Introduction
      2. The United States
      3. Canada
      4. Rest of North America
  8. STRATEGIC ANALYSIS
    1. PESTLE analysis
      1. Political
      2. Economic
      3. Social
      4. Technological
      5. Legal
      6. Environmental
    2. Porter’s Five analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Consumers
      3. Threat of New Entrants
      4. Threat of Substitute Products and Services
      5. Competitive Rivalry within the Industry
  9. MARKET LEADERS' ANALYSIS
    1. Medtronic
      1. Overview
      2. Products
      3. Financials (subjected to availability based on company type)
      4. Recent Developments
      5. SWOT analysis
      6. Analyst View
    2. Boston Scientific
    3. CR Bard
    4. Abbott Laboratories
    5. Terumo Corporation
    6. B. Braun
    7. Johnson & Johnson
    8. Stryker Corporation
    9. Olympus Corporation
    10. Angiodynamics
    11. Cardinal Health
    12. Merit Medical Systems
    13. Teleflex
    14. Cook Group
    15. Asahi Intecc
  10. COMPETITIVE LANDSCAPE
    1. Market share analysis
    2. Merger and Acquisition Analysis
    3. Agreements, collaborations and Joint Ventures
    4. New Product Launches
  11. MARKET OUTLOOK AND INVESTMENT OPPORTUNITIES
  12. APPENDIX
    1. List of Tables
    2. List of Figures
  • Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.
  • The segment-level analysis in terms of product, material, coated, and end-user along with market size forecasts and estimations to detect key areas of industry growth in detail.
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics.
  • Study of the effect of exogenous and endogenous factors that affect the global market, which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis.
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development.
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment.
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies.
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions.
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market.
  1. North America Guidewires Market, By Product, From 2021 to 2026 (USD Billion)
  2. North America Coronary Guidewire Market, By Region, From 2021 to 2026 (USD Billion)
  3. North America Peripheral Guidewire Market, By Region, From 2021 to 2026 (USD Billion)
  4. North America Urology Guidewire Market, By Region, From 2021 to 2026 (USD Billion)
  5. North America Neurovascular Guidewire Market, By Region, From 2021 to 2026 (USD Billion)
  6. North America Others Market, By Region, From 2021 to 2026 (USD Billion)
  7. North America Guidewires Market, By Material, From 2021 to 2026 (USD Billion)
  8. North America Nitinol Market, By Region, From 2021 to 2026 (USD Billion)
  9. North America Stainless steel Market, By Region, From 2021 to 2026 (USD Billion)
  10. North America Others Market, By Region, From 2021 to 2026 (USD Billion)
  11. North America Guidewires Market, By Coating, From 2021 to 2026 (USD Billion)
  12. North America Coated Market, By Region, From 2021 to 2026 (USD Billion)
  13. North America Non-Coated Market, By Region, From 2021 to 2026 (USD Billion)
  14. North America Guidewires Market, By End-User, From 2021 to 2026 (USD Billion)
  15. North America Hospitals and Clinics Market, By Region, From 2021 to 2026 (USD Billion)
  16. North America Diagnostic Centres Market, By Region, From 2021 to 2026 (USD Billion)
  17. United States Guidewires Market, By Product, From 2021 to 2026 (USD Billion)
  18. United States Guidewires Market, By Material, From 2021 to 2026 (USD Billion)
  19. United States Guidewires Market, By Coating, From 2021 to 2026 (USD Billion)
  20. United States Guidewires Market, By End-User, From 2021 to 2026 (USD Billion)
  21. Canada Guidewires Market, By Product, From 2021 to 2026 (USD Billion)
  22. Canada Guidewires Market, By Material, From 2021 to 2026 (USD Billion)
  23. Canada Guidewires Market, By Coating, From 2021 to 2026 (USD Billion)
  24. Canada Guidewires Market, By End-User, From 2021 to 2026 (USD Billion)

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