Urology Guidewires Market Size Worth $825.72 Million by 2030: Grand View Research, Inc.

SAN FRANCISCO, April 26, 2022 /PRNewswire/ -- The global urology guidewires market size is anticipated to reach USD 825.72 million by 2030, according to a new report by Grand View Research, Inc. The market is projected to expand at a CAGR of 6.37% from 2022 to 2030. The increasing preference for minimally invasive surgical procedures owing to advantages such as reduced pain, smaller incisions, and faster recovery time along with technological advancements are the primary driving factors for the growth of the market.

Key Insights & Findings from the report:

• By material, stainless steel guidewires accounted for the largest market share of 32.36% in 2021. Stainless steel guidewires are inexpensive, do not corrode, and can be disinfected and reused, all of which contribute to this market segment's substantial share.
• Based on the tip shape, the straight tip segment dominated the market with around 49.99% of the revenue share in 2021, due to easy accessibility during surgeries along with its more flexibility, greater strength, and pliability as compared to other shapes. Additionally, the growth of the segment is due to constant innovation being employed to boost its success rate.
• Based on the end-user, the hospital & clinics segment captured the largest market share with around 60.18% in 2021. The growth of this segment can mainly be attributed to a consequent rise in surgical procedures and an increase in the number of patients suffering from various chronic ailments.
• Asia Pacific was the fastest-growing market for urology guidewires with a growth rate of 7.19%. This is due to a large number of surgical procedures and the growing geriatric population are boosting the market growth.

Read 110-page market research report, "Urology Guidewires Market Size, Share & Trends Analysis Report By Material (Nitinol Guidewires, Stainless Steel Guidewires), By Tip Shape (Straight Tip, Angled Tip), By End User (Hospitals & Clinics), By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Urology Guidewires Market Growth & Trends

The COVID-19 pandemic has created a significant challenge for the global healthcare industry. Restricted access to medical services has led to inadequate care for patients suffering from other diseases. The pandemic adversely impacted the market. Surgical procedures are frequently postponed or even cancelled at this time to prevent the spread of the infection. For instance, according to urology residents published in August 2021, Clinic visits, diagnostic treatments, endoscopic surgeries, along with open and minimally invasive surgeries all decreased by 40-100% in Italy.

Additionally, residents in India reported a 90% drop in surgical volume, and more than 80% of them believed their education had been affected. According to the same source, a survey of urology residents in Latin America and Spain found that 15% had their urological service closed, with all activity devoted to COVID-19 patients. As a result, with the advent of the COVID-19 pandemic in 2020, urological guidewire sales plummeted.

However, the market is expected to rebound and grow over the forecast period, as most countries have started easing lockdown measures and restarted some of the elective procedures. Furthermore, the key factors propelling the market growth include a high incidence of urologic conditions, technological advancements, and a rising geriatric population.

Urology Guidewires Market Segmentation

Grand View Research has segmented the global urology guidewires market based on material, tip shape, end-user, and region:

Urology Guidewires Market - Material Outlook (Revenue, USD Million, 2017 - 2030)

• Nitinol Guidewires
• Stainless Steel Guidewires
• PTEE Guidewires
• Others

Urology Guidewires Market - Tip Shape Outlook (Revenue, USD Million, 2017 - 2030)

• Straight Tip
• Angled Tip
• J-Shaped Tip
• Others

Urology Guidewires Market - End-user Outlook (Revenue, USD Million, 2017 - 2030)

• Hospitals & Clinics
• Urology Surgery Centers
• Ambulatory Surgery Centers

Urology Guidewires Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Asia Pacific
• Japan
• China
• India
• Australia
• South Korea
• Latin America
• Brazil
• Mexico
• Argentina
• Colombia
• Middle East & Africa (MEA)
• South Africa
• Saudi Arabia
• UAE

List of Key Players in the Urology Guidewires Market

• Boston Scientific Corporation
• Integer Holdings Corporation
• Advin Health Care
• Cook Medical
• Olympus America
• Teleflex Incorporated
• MEDpro Medical B.V.
• ACE Medical Devices

Check out more related studies published by Grand View Research:

• Nephrology And Urology Devices Market - The global nephrology and urology devices market size is anticipated to reach USD 7.21 billion by 2028 registering a CAGR of 6.6% over the forecast period, according to a new report by Grand View Research, Inc.
• Urology Laser Market - The global urology laser market size is anticipated to reach USD 1.4 billion by 2026. The increasing demand for minimally invasive surgeries, rise in the number of patients suffering from urinary calculi, and technological advancements in urology lasers is anticipated to boost the market growth.
• Surgical Robots Market - The global surgical robots market size is expected to reach USD 18.2 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 19.3% from 2022 to 2030. The increasing penetration of international players in various geographies is expected to boost the market growth.

Browse through Grand View Research's Medical Devices Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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