Dublin, Nov. 14, 2022 (GLOBE NEWSWIRE) -- The global pressure guidewires market is valued at US$ 750.3 million in 2022 and is expected to reach US$ 1.7 billion by the end of 2032, says Fact.MR, a market research and competitive intelligence provider.
In percutaneous coronary intervention (PCI) procedures, pressure guidewires are used to evaluate the condition of a patient's arteries and veins and determine whether any surgical procedure is necessary. To identify any obstructions in the vessels, the device makes use of fractional flow reserve technology (FFR).
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The global market for pressure guidewires is being driven by rising healthcare costs for treating cardiovascular illnesses. The use of pressure guidewires for navigating through blood arteries or lesions has been incorporated into cardiovascular treatment methods over time. In addition to the growing preference for angioplasty, the important role of pressure guidewires as a medical device in supporting highly-intrinsic cardiovascular procedures also contributes to their widespread demand.
Flexible tip pressure guidewire sales are expected to rise at an impressive CAGR over the coming years. Hospitals are major end users of pressure guidewires, accounting for almost three-fourths of the market value share worldwide. North America, followed by Europe and Asia Pacific, are expected to be beneficial regional markets for pressure guidewire manufacturers.
Key Takeaways from Market Study
- Global demand for pressure guidewires is predicted to increase at a CAGR of 9% during the next 10 years.
- Demand for flexible tip pressure guidewires is expected to surge at a CAGR of 10% from 2022 to 2032.
- Sales of flat tip pressure guidewires are expected to rise at a CAGR of 8% during the forecast period.
- The market in Japan is anticipated to evolve at a CAGR of 8% through 2032.
Winning Strategy
Key companies are focusing on executing a variety of strategies, including new product launches, technological breakthroughs, mergers and acquisitions, alliances, partnerships, and collaborations, to increase their market position and product portfolio.
- Koninklijke Philips N.V. and Abbott Laboratories, two major players in the medical device sector, will contribute significantly to the worldwide pressure guidewires market.
- While Opsens, Inc. and Boston Scientific Corporation will have a sizable presence in the market, these two firms are anticipated to account for roughly two-thirds share of the market's revenue.
- Philips’s OmniWire is the first solid core pressure guidewire in the world, enabling superior navigation and device delivery through increased durability and shape recovery.
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Prominent Players of Pressure Guidewires Market
- Abbott
- Amayeza Abantu Bio-Medical (Pty) Ltd
- Asahi Intecc Co., Ltd.
- B. Braun Melsungen AG
- BD
- Boston Scientific Corporation
- Cardinal Health
- Johnson & Johnson Services, Inc.
- Koninklijke Philips N.V.
- Medtronic
- Merit Medical Systems
- Olympus Corporation
- Opsens Medical
- Stryker
- Teleflex Incorporated
- Terumo Corporation
Key Segments of Pressure Guidewires Industry Research
- By Product:
- Flat Tip
- Flexible Tip
- By Technology:
- Pressure Wire Technologies
- Optical Fiber Technologies
- By End User:
- Hospitals
- Ambulatory Surgical Centers
- Independent Catheterization Labs
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global pressure guidewires market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of product (flat tip pressure guidewires, flexible tip pressure guidewires), technology (pressure wire technologies, optical fiber technologies), and end user (hospitals, ambulatory surgical centers, independent catheterization labs), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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Table of Content Includes ( Figures-112 | Tables- 84 )
1. Global Pressure Guidewires Market - Executive Summary
1.1. Global Market Overview
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Fact.MR Analysis and Recommendations
2. Global Pressure Guidewires Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Introduction and Definition
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. COVID-19 Crisis and Impact on Pressure Guidewires
3.1.2. COVID-19 Crisis and Impact on Aprotic Solvent Prices
3.1.3. COVID-19 Impact Benchmark with Previous Crisis
3.1.3.1. Change in Pressure Guidewires Demand
3.1.3.2. Before and After COVID-19 Crisis (Projected)
3.1.3.3. Before and After Sub-prime Crisis – 2008 (Actual)
3.1.3.4. Change in Demand post Recovery Period (After Each Crisis)
4. Market Background and foundation Data Points
4.1. Need of the Hour for Industries
4.2. Industry Wise Industry 4.0
4.3. Pressure Guidewires – Strategic Priorities
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About Fact.MR
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