Therapeutic medical guide wire is a medical device used in multiple surgical procedures such as, interventional cardiology, interventional radiology, gastroenterology, vascular surgery, and many others. The main purpose of guide wire is to guide the catheter for placement. They are made up of stainless steel metallic structures and are also available in the form of metallic alloys. Guide wires are simple spring type wires that provide firmness and control to the target site where angiogram is taken. Guide wire core can be of two types i.e. fixed cores to use in normal vascular system or movable cores for torturous vascular structures. Majorly, there are two type of guide wires, i.e. solid guide wire, and wrapped guide wire. Both the types has one end rigid and other end flexible. The flexible tip enters the blood vessel first to prevent damage to the vessel. The most prominent advantage of using solid guide wire is that it reduces the chances of catheter tip flaring, and abrasion of the vessel. On the other hand, wrapped guide wires are associated with the risks of catheter tip flaring, and danger of unravelling. However, wrapped guide wire has one advantage over solid guide wires i.e., it has a movable core that makes it more versatile.
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Notably, growing preference towards minimally invasive surgical procedures, rising prevalence of chronic disorders, and technological advancements in medical guide wire are promoting the growth of therapeutic medical guide wire market globally. Increasing geriatric population also has a huge impact on the growth of the market. According to the report published in Centers for Disease Control and Prevention (CDC) in 2017, nearly 92.1 million adults dealing with at least one type of cardiovascular disease. Whereas in European region, chronic kidney disease (CKD) is found to be more prevalent. According to the study published in the Journal of the American Society of Nephrology in 2015, prevalence rate of CKD stages 1–5 is 3.31% in Norway, and 17.3% in northeast Germany. Whereas, prevalence rate of CKD stages 3–5 is 1.0% in Central Italy, and 5.9% in Northeast Germany
Despite these factors, lack of skilled physicians, and guide wire associated health problems may hinder the growth of the market over the forecast period. According to a case study published in Case Reports in Critical Care in 2016, few cases of injuries due to guide wires have been observed which further lead to end-stage renal disease (ESRD).
Major Key Players in Global Therapeutic Medical Guide Wire Market
Some of key the players in the market are Cordis (Cardinal Health), Biotronik, SP Medical A S, Infiniti Medical, Acme Monaco, Abbott Laboratories, Boston Scientific Corporation, Medtronic plc, Terumo Medical Corporation, Cook Medical, and others.
The global therapeutic medical guide wire market consists of four regions: the Americas, Europe, Asia Pacific, and the Middle East & Africa.
The Americas is the leading market across the globe on account of large patient pool. According to the report published in Centers for Disease Control and Prevention (CDC) in 2017, nearly 92.1 million adults dealing with at least one type of cardiovascular disease.
Europe accounts for the second largest market in the world. Europe consist of two regions namely Western Europe and Eastern Europe. Western Europe holds the major share of the market, which is majorly contributed by Germany, the U.K., and France. The increasing government support for development of the healthcare domain drives the European market.
Asia Pacific region is projected to be the fastest growing region during the forecast period. Rising burden of chronic disorders, and rapidly improving technology drives the growth of this market in Asia Pacific region. As per the study published in BMC Public Health in 2017, prevalence of type-2 diabetes, obesity, and cardiovascular disease has increased rapidly in recent years.
The Middle East and Africa holds the least share of the global market owing to the presence of poor and slow developing countries, especially, in African region.
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The Americas dominate the therapeutic medical guide wire market owing to the high prevalence of chronic disorders, a well-developed technology, high healthcare expenditure, and the presence of the leading players. Due to high prevalence of the chronic conditions, companies, private organization, and government associations actively participate to control the increasing incidence of chronic conditions. CDC has stated that out of total annual healthcare expenditure i.e. USD 27 trillion, 86% is for people with chronic health conditions in the United States
Europe holds the second position in the therapeutic medical guide wire market. It is expected that the support provided by the government bodies for research & development, a well-developed technology, and demand for minimally invasive surgical procedures drives the market in European region. According to the 2014 European Union statistics, bronchoscopy and colonoscopy were the two most common surgical procedures opted for diagnosis and treatment purpose in European region
Asia Pacific region is projected to be the fastest growing region during the forecast period. Rising burden of chronic disorders, and rapidly improving technology drives the growth of this market in Asia Pacific region. As per the study published in BMC Public Health in 2017, prevalence of type-2 diabetes, obesity, and cardiovascular disease has increased rapidly in recent years.
The Middle East and Africa holds the least share in the market owing to the presence of poor and slow developing countries, especially, in African region.
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