Endoscopy Guidewire Market: Introduction
- A guidewire is a thin, flexible, medical wire inserted into the body to guide a larger instrument, such as a catheter, central venous line, or feeding tube
Key Drivers and Opportunities of Global Endoscopy Guidewire Market
- Surge in awareness and rise in literacy rates have increased the rate of adoption of advanced products by the population. This is expected to propel the global endoscopy guidewire market.
- Moreover, government and private sector organizations are engaged in spreading awareness about chronic diseases. This increases the number of surgeries and subsequently, drives the market.
- Cardiovascular and pulmonary diseases are more prevalent among the population. Cardiothoracic surgery has become commonplace in most developed countries in the world. An article published in Nagoya Journal of Medical Science stated that the number of cardiovascular surgeries in Japan is expected to reach 55,000 by 2035.
- Advantages of endoscopic surgical procedures include endoscopic surgical procedures are less painful, require a small incision, short hospital stay, quick recovery time, and have reduced blood loss. This is leads to shift in preference toward endoscopic surgery. This contributes to a rise in the demand for endoscopic surgery products and consequently, fuels the market.
- Endoscopically assisted surgery is gaining popularity and is becoming a tool commonly employed by surgeons to assist in and simplify a bit of the various complicated procedures that often feel the necessity for more comprehensive surgical exposure for visualization. This, in turn, boosts the role of endoscopes in various surgeries. Thus, an increase in minimally invasive surgeries is anticipated to drive the endoscopy guidewire market.
North America to Dominate the Global Endoscopy Guidewire Market
- In terms of region, the global endoscopy guidewire market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to dominate the global endoscopy guidewire market during the forecast period.
- Population demographics have been fluctuating for the last few decades. The population aged 65 years and above is gradually increasing across the globe. Currently, there are more people aged 65 and older in the U.S than at any other time in U.S. history. Thus, a surge in geriatric population coupled with chronic diseases is likely to propel the market.
- The endoscopy guidewire market in Asia Pacific is projected to expand at a rapid pace during the forecast period. Governments in developing countries are making significant investments toward modernization of healthcare infrastructure, which is likely to increase access to healthcare. This is expected to increase the demand for advanced technologies in the region.
Key Players Operating in Global Endoscopy Guidewire Market
The global endoscopy guidewire market is fragmented with the presence of international as well as local players. A large number of manufacturers hold major share in their respective regions. Demand for endoscopy guidewire products has increased in emerging as well as developed markets owing to rise in awareness regarding technological advanced products. Growth strategies adopted by leading players are likely to drive the global market. For instance, in May 2019, Olympus announced the U.S. launch of RevoWave Endoscopic Guidewire; and the CleverLock Guidewire Locking Device.
Key players operating in the global endoscopy guidewire market are:
- Boston Scientific Corporation
- Medorah Meditek Pvt. Ltd
- CONMED Corporation
- Terumo Medical Corporation
- Shaili Endoscopy
- Changzhou JIUHONG Medical Instrument Co., Ltd
- Jiangsu Vedkang Medical Science and Technology Co., Ltd.
- ASAHI INTECC CO., LTD
- Merit Medical Systems
- HOBBS MEDICAL INC.
Global Endoscopy Guidewire Market: Research Scope
Global Endoscopy Guidewire Market, by Material
- Stainless Steel
Global Endoscopy Guidewire Market, by Type
Global Endoscopy Guidewire Market, by Application
Global Endoscopy Guidewire Market, by End-user
- Diagnostic centers
Global Endoscopy Guidewire Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.