Global Urology Guidewire Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024
Global Urology Guidewire Market being a steady progressive market generated revenue of USD 333.82 million in 2017, and it is expected to grow at a thriving CAGR of 6.7% during the period 2018 – 2024.
The key factors driving the growth of urology guidewires market are; increasing prevalence of urological disorders and government initiatives to provide better healthcare facilities. Moreover, technological advancement and new product launches, and a growing number of surgeries across the globe have fuelled the demand for urology guidewires globally.
The years used for the assessment are as follows;
Historical year:2014, 2015, and 2016
Forecast period:2018 – 2024
The research and analysis is based on the data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are;
Obtaining historical data of the market based on news, articles, publications, government websites, annual reports, press releases, white papers, surveys, investor presentation of companies, and other secondary sources
Interacting with key opinion leaders of the market and developing data points based on interaction with them
Study of past trends in the market and their year on year Impact on the market size and share
Analyzing the collected data points
Bridging the data points to calculate the total global urology guidewire market and its various segments
Anticipating potential risks
Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the global urology guidewire market
Finalizing the overall size and share of the global urology guidewire market
To analyze market trends, opportunities, drivers, and restraints associated with the global urology guidewire market
To study market response with respect to the mergers and acquisitions in the industry
To profile key companies operating in the urology guidewire market and provide their competitive landscape
The research scope for global urology guidewire market is as follows:
By Product Type
Ambulatory Surgical Centers
Urological Surgery Centers
Central & South America
Middle East and Africa
The global burden of urological diseases has increased in recent years. Kidney diseases and urological cancers are the most prevalent among urological disorders. Chronic kidney diseases (CKD) are one of the most prevalent forms, affecting approximately 10% of the global population. Dietary and lifestyles changes have given rise to increasing incidences of kidney stones among men and women. Recurrent stone formation affects the quality of life and may damage the kidney over time. Globally, lifetime incidences of kidney stone are close to 15% for men and 10% in women. After a subject has formed a stone, the likelihood of recurrence is increased considerably. Increasing incidences of kidney related diseases are likely to propel the global guidewire market over the forecast period.
Moreover, the geriatric demographic of the world is growing at a steady rate. This rise in the proportion of the older population has led to increasing in incidences of diseases. Urological disorders such as kidney stone, bladder cancer, kidney cancer, prostate cancer, and testicular cancer are one of the most common afflictions of the elderly. Due to the financial security of the major proportion of this demographic, geriatric population can opt for treatments, surgical or otherwise, this has, in turn, propelled the market for urological guidewires for adults in the previous years.
The healthcare system in Europe gives equal access to quality healthcare at affordable costs. Countries in Europe aim to provide health coverage to all its citizens, this has resulted in good coverage for speciality diseases like urological disorders. Moreover, the presence of established hospital network along with an increasing number of ambulatory & speciality surgical centres is expected to give momentum to the market in this region.
Some of the key companies operating in the market include C. R. Bard, Inc., Teleflex Incorporated, TE Connectivity, LABORIE, OPTIMED, Heraeus Holding, Boston Scientific Corporation, COOK MEDICAL Inc., Olympus Corporation, Zhejiang Chuangxiang Medical Technology Co., Ltd, SSEM Mthembu Medical (Pty) Ltd., Hunan Reborn Medical Science and Technology Development Co., Ltd, Coloplast Ltd, Blue Neem Medical Devices Pvt Ltd, B. Braun Melsungen AG, and Cogentix Medical Inc. among others.