Guidewires are an important fraction of the vascular intervention. They are employed to control cross lesions, target vessels, and provide definitive interventional treatment. Peripheral guidewires are developed to pilot vessels to contact a vessel or lesion section. Once the peak of the machine reaches its target, it operates as a lead so that better catheters can quickly pursue easier escape to the treatment location. This is a highly developed technology in medical sector which is very valuable for elderly people. It is employed in minimally-persistent surgeries which includes much lesser incisions, compared to the equivalent open surgery processes. These guidewires play very crucial role in the peripheral vascular surgeries by offering effective and fast results. In 2015, the global peripheral guidewire market was esteemed at $578.9 Million. In 2021, the global market is anticipated to reach $871.2 Million growing at a rate of 7.10% CAGR from 2016 to 2021.
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On the basis of application segment, the global market is divided into diagnostics and interventional.
Rising demand for minimally invasive surgeries is the main reason that is driving the global market. Increasing worldwide geriatric population is another important factor that fuels the market growth is. Furthermore, rising cases of cardiovascular, neurological, and urology disorders also propel the growth of the global peripheral guidewire market. It is significant for patients to completely understand the jeopardy of the process experiencing laparoscopy and other neurovascular, cardiovascular surgeries. Some danger factors related with these kinds of surgery and inclination given to open surgery may hinder the growth of this the global market.
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The competition in the global peripheral guidewire market is tougher than expected. This is due to the involvement of the local as well as global players in the race. Some of the major players in the global market are Boston Scientific Corporation, Abbott Laboratories, Terumo Corporation, Asahi Intecc, and Cook Medical among others. In 2013, Terumo Corporation dominated the market owing to the high market penetration rates in emerging economies such as India as well as China and presence of an extensive product portfolio.