Pressure Guidewires Market

Pressure Guidewires Market Outlook (2022-2032)

The global pressure guidewires market is valued at US$ 750.3 million in 2022. Worldwide demand for pressure guidewires is expected to increase rapidly at a CAGR of 9% from 2022 to 2032 and reach a market valuation of US$ 1.7 billion by the end of 2032, says Fact.MR, a market research and competitive intelligence provider.

Pressure guidewires are classified into flat-tipped pressure guidewires and flexible-tipped pressure guidewires. Flexible pressure guidewire demand is predicted to increase at an impressive CAGR of 10% during the forecast period. The main reason behind this impressive growth can be attributed to their flexible nature, as it becomes easier for medical experts to operate and achieve effective and efficient results.

Flat tip pressure guidewire sales are predicted to expand at a CAGR of 8% during the next 10 years. Tip design pressure guidewires are preferred since they have better wire support and torque response.

• For instance, the Verrata pressure guidewire product by Philips quickly disconnects and reliably reconnects giving medical experts the freedom to navigate the frontline wire.

Pressure guidewires relate to diagnostic medical devices which are employed in percutaneous coronary intervention (PCI) treatments to diagnose arteries and vessels of the patient, whether there is a need for any surgical procedures.

The system utilizes fractional flow reserve technology (FFR) for detecting the blockages existing in the vessels. Because of their adaptable structure and support, they are specifically created to assist in the delivery of gadgets.

With the help of HeartFlow's non-invasive cardiac computed tomography-derived fractional flow reserve technology, a patient's whole coronary tree can be evaluated using virtual fractional flow reserve values with just one computed tomography scan. This data aids medical professionals in deciding whether to refer a patient with chest pain to the cardiac catheterization lab for revascularization or if a therapeutic option is more appropriate.

To access vascular targets with greater precision and accuracy, a guidewire is widely employed. A guidewire is a tool used to enhance the accuracy of both surgical and diagnostic procedures. It is mostly applied to gastrointestinal, cardiovascular, and interventional radiology applications.

A surgeon can diagnose and treat diseases and missing anatomical structures due to the device's advanced features such as tip, stiffness, coating, and shape. Furthermore, guidewire's incorporation of cutting-edge technologies, which includes steerable vision, can enhance procedural outcomes.

Recent years have seen a rapid advancement in the technologies needed to create upgraded guidewires that enhance functional performance. Manufacturers engaged in the development of advanced guidewires are also concentrating on the material choice and configuration design, to produce more user-friendly, minimally-invasive equipment that could fulfil the application requirements of healthcare professionals, which is also expected to speed up the sales growth of pressure guidewires market during the forecast period.

One of the current trends in the pressure guidewires market is the rising number of patients with chronic diseases and the growing desire for minimally-invasive procedures due to shorter hospital stays and cost-effective solutions.

Report Attributes	Details
Pressure Guidewires Market Size (2022E)	US$ 750.3 Million
Forecasted Market Value (2032F)	US$ 1.7 Billion
Global Market Growth Rate (2022-2032)	9% CAGR
China Market Growth Rate (2022-2032)	8% CAGR
Japan Market Growth Rate (2022-2032)	8% CAGR
Germany Market Growth Rate (2022-2032)	7% CAGR
Key Companies Profiled	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

Which Aspects are Positively Influencing Revenue Share of Pressure Guidewire Manufacturers?

“Rising Prevalence of Cardiovascular Diseases & Advancing Healthcare Infrastructure”

One of the key factors propelling the growth of the pressure guidewires market is the rising prevalence of cardiovascular diseases (CVDs) in both men and women around the world. Pressure guidewires are being used at a higher rate as a result of the increased risk of acute coronary syndrome and the rising number of older persons who are more vulnerable to cardiovascular diseases.

Pressure guidewires are becoming more popular because of their ease of connecting, direct and dependable FFR signal recovery for permitting precision, and zero drift performance, as well as the growing emphasis on decreasing surgical procedures to improve healthcare quality and patient comfort.

Demand for pressure guidewires is also positively influenced by the improving healthcare facilities across the globe and rising spending power on healthcare. Furthermore, throughout the projection period, technological breakthroughs are expected to generate new opportunities in the pressure guidewires market.

“High Preference for Minimally-invasive Surgeries than Traditional Procedures”

Over traditional open surgeries, minimally-invasive procedures have several significant therapeutic benefits, including shorter hospital stays, quicker patient recovery, enhanced operational safety & efficiency, and greater affordability.

Healthcare experts are looking more and more for alternative treatments that can provide patients with illnesses, such as cardiovascular diseases, urological disorders, and cancer diseases, with safer and more effective disease management strategies. Medical professionals are selecting minimally-invasive surgeries more often than traditional open surgeries as a result of the clinical advantages it offers.

• According to estimates from the World Health Organization (WHO) 2021 report, 17.9 million deaths in 2019 were directly related to CVDs, which accounted for 32% of all fatalities globally.
• Furthermore, it is estimated that more than 75% of cardiovascular disease cases occur in low- and middle-income countries.

As a result, it is anticipated that the demand for pressure guidewires would increase as the aged population's CVD rate rises. Also, the ageing population is more susceptible to infections and a range of chronic diseases due to lowered immunity, which increases the risk of complications.

Therefore, it is projected that the increasing rate of the older population would probably have a positive impact on sales of pressure guidewires throughout the projected period.

Which Factors Can Limit Sales Growth of Pressure Guidewires?

“High Cost of Pressure Guidewires & Chances of Functional Failure During Surgeries”

Sales of pressure guidewires are anticipated to be hindered by the high cost of these products compared to transducers. Unstable signals from the vessels, one of the limitations of FFR technology, which uses pressure guidewires, is expected to pose a challenge to the pressure guidewires market during the projection period.

Cardiovascular arrhythmias, variations in the heartbeat's conduction, and guidewire failure in the vascular system are additional issues related to guidewires. Death is very likely as a result of these grave consequences. The use of pressure guidewires in treatment may thus be discouraged in several potential patients as a result of such factors.

Country-wise Analysis

Why is Demand for Pressure Guidewires Increasing in the United States?

“Rising Incidence of CVDs in Senior Population”

• According to the Journal of the American College of Cardiology, there are currently over 17 million deaths worldwide due to cardiovascular disease each year, and this number is projected to reach about 23 million by 2030.

The high risk of acute coronary syndrome is anticipated to favour pressure guidewire adoption, which will accelerate the sales growth of pressure guidewires in the United States.

The rise in the elderly population in the U.S. has a direct impact on the demand for pressure guidewires. This is mostly caused by the elevated risk of cardiovascular disorders in the elderly.

• People over the age of 65 made up around 13% of the population, according to the U.S. Census Board, and by 2030, this number is projected to increase by 20%.

Therefore, a steady rise in the geriatric population can be concluded as a key reason positively influencing demand for pressure guidewires in the U.S.

The existence of leading market players such as AngioDynamics, Abbott Laboratories, Boston Scientific Corporation, and Cardinal Health is another factor influencing sales growth.

Many people in the country prefer minimally-invasive procedures due to the high risk of infection associated with invasive surgeries. Furthermore, minimally-invasive procedures reduce patients' hospital stays, saving both money and time.

Which Factors are Driving Sales of Pressure Guidewires in Asia Pacific Countries?

“Growing Cases of Urological Disorders & Rising Prevalence of Chronic Diseases in Elderly Population”

Demand for pressure guidewires in the Asia Pacific countries is expected to increase at a healthy growth rate. Asia Pacific countries such as China, India, Japan, and South Korea are experiencing high growth in the senior population with chronic diseases. CVDs, cancer, and cerebrovascular diseases are the main causes of mortality in China.

• For instance, The Japan Times Ltd reported in September 2021 that 36.4 million people in Japan were 65 years of age or older, who necessitated hospitalization for various reasons.

Rising prevalence of urological disorders such as urinary tract infections, kidney stones, and more in Asia Pacific countries is expected to increase demand for urological guidewires.

Sales of pressure guidewires in China and Japan are predicted to progress at CAGRs of 8% each respectively in both countries during the forecast period.

What Makes European Countries Profitable Markets for Pressure Guidewire Suppliers?

“High Expertise in Minimally-invasive Surgeries & Presence of Major Manufacturers”

European countries such as Germany, France, the U.K., and Spain have a profitable potential in the pressure guidewires market. Demand for pressure guidewires in Germany is predicted to expand at a CAGR of 7% from 2022 to 2032.

Since French surgeons are recognised globally for their expertise in minimally-invasive treatments, France has built training facilities for these operations.

Guidewires are used as safety precautions in minimally-invasive cardiac procedures. Some of the key factors driving sales growth in this industry include the employment of technologically advanced utilities for the treatment of target illnesses and supportive government policies. Some of the biggest businesses that compete in the European market include B. Braun Melsungen AG and Biotronik.

Category-wise Analysis

Why are Pressure Guidewires Highly Demanded by Hospitals?

“Target Patients’ First Preference for Hospitals for Better Treatment Options”

Demand for pressure guidewires from hospitals is comparatively higher than other end users. This can be attributed to rising gastrointestinal disorders and cardiovascular diseases, hospitals with advanced technologies aid in treating such illnesses quickly and effectively.

Hospitals have a high potential on spending more on advanced medical equipment such as guidewires. Thus, effective treatment assurance and the presence of advanced healthcare settings attract target patients, which subsequently increases sales of pressure guidewires.

Competitive Landscape

Key players in the pressure guidewires market are Abbott, Asahi Intecc Co., Ltd., B. Braun Melsungen AG, BD, Boston Scientific Corporation, Cardinal Health, Cook Group, Johnson & Johnson Services, Inc., Koninklijke Philips N.V., Medtronic, Merit Medical Systems, Olympus Corporation, Opsens Medical, Stryker, Teleflex Incorporated, and Terumo Corporation.

• The U.S-based Abbott Laboratories currently holds a strong position in the pressure guidewires market. The business is well-established in producing cardiovascular solutions and products. Pressure wire technology is used for manufacturing both flat and tip pressure guidewires.
• Opsens Inc., a company established in Canada, specialises in optical pressure guidewires using optical fibre technology, such as OptoWire Deux & OptoWire One. With its distinctive and cutting-edge technologies, Opsens Inc. has the potential to become a major pressure guidewire manufacturer.
• In March 2021, Asahi Intecc Co., Ltd. confirmed that one of its group companies, Asahi Intecc J-sales, Inc., would be in charge of managing the sales of endoscopic guidewire "M-Through" in Japan. In the discipline of gastroenterology, this guidewire is widely employed. This plan is expected to strengthen the company's presence in the country.

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