Guidewire Market Size, Share, Growth Analysis, By Product(Coronary Guidewires, Peripheral Guidewire, Urology Guidewire, Neurovascular Guidewire), By Material(Nitinol, Stainless Steel, Others), By Coating(Coated, Non-Coated), By End User(Hospitals, Clinics, Diagnostic Centers, Others), By Region - Industry Forecast 2025-2032

Guidewire Market size was valued at USD 729.01 million in 2019 and is poised to grow from USD 764 million in 2023 to USD 1165.05 million by 2031, growing at a CAGR of 4.8% in the forecast period (2024-2031).

A few players are controlling the majority of the market share in the guidewires market. However, the guidewires industry has become highly consolidated. Wherein Boston Scientific Corporation, Medtronic, and Abbott are racing for the higher market share across the globe. Boston Scientific Corporation, major player in the guidewires market, leads in terms of revenue, which is mostly attributable to its strong brand recognition, consolidated client base, and robust distribution network. Due to ongoing product releases, strategic alliances, and a focus on market penetration in emerging regions, it is predicted that Medtronic and Abbott's market share will rise over the forecast period. 'Abbott Laboratories', 'Boston Scientific Corporation', 'Medtronic plc', 'Terumo Corporation', 'B. Braun Melsungen AG', 'Stryker Corporation', 'Johnson & Johnson Services, Inc. (Cordis Corporation)', 'Biotronik SE & Co. KG', 'Olympus Corporation', 'Cook Medical Inc.', 'Teleflex Incorporated', 'Merit Medical Systems Inc.', 'Cardinal Health Inc.', 'Koninklijke Philips N.V.', 'C. R. Bard, Inc. (Becton, Dickinson and Company)', 'Penumbra, Inc.', 'Integra LifeSciences Holdings Corporation', 'AngioDynamics Inc.', 'ASAHI INTECC CO., LTD.', 'JOTEC GmbH'

Increasing Adoption of Minimally Invasive Surgeries

Increasing demand for minimally invasive procedures due to shorter hospital stays and cost-effective solutions is currently trending the guidewires market.

North America is projected to continue dominating the guidewires market during the forecast period, 2022–2028. In 2018, the region generated the sales of, around $308.2 million. North America market is majorly driven by the presence of state-of-the-art healthcare facilities, the availability of the products, and the emphasis on the use of contemporary healthcare technologies. Furthermore, it is anticipated that the region will see an increase in the adoption of guidewires due to the rigorous application of medical reimbursement policies in the U.S.