Urology Guidewires Market Share To Reach Scalable Heights Of Growth Urology Guidewires Industry The

Rahul Nikade

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Urology Guidewires Market Share To Reach Scalable Heights Of Growth

Urology Guidewires Industry

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 compound annual growth rate (CAGR) of 6.37% from 2022 to 2030. The primary factors driving the growth of the market include the increasing preference for minimally invasive surgical procedures due to advantages such as reduced pain, smaller incisions, and faster recovery time, as well as ongoing technological advancements in the field.

The COVID-19 pandemic posed significant challenges to the global healthcare sector. Restricted access to medical services resulted in inadequate care for patients with non-COVID-related illnesses. The pandemic had an adverse impact on the urology guidewires market, as surgical procedures were frequently postponed or canceled in order to limit the spread of infection. For example, according to a report on urology residents published in August 2021, clinic visits, diagnostic procedures, endoscopic surgeries, as well as open and minimally invasive surgeries all decreased by 40 to 100 percent in Italy.

In addition, residents in India reported a 90 percent decline in surgical volume, and over 80 percent believed that their medical education was negatively affected. The same source indicated that a survey of urology residents in Latin America and Spain found that 15 percent had their urology departments closed entirely, with services redirected to care for COVID-19 patients. Consequently, the onset of the COVID-19 pandemic in 2020 led to a substantial drop in the sales of urological guidewires.

Nevertheless, the market is expected to recover and grow throughout the forecast period as many countries have begun to lift lockdown restrictions and resume elective surgical procedures. Additional factors supporting market growth include the high incidence of urologic conditions, continuous technological advancements in the field, and a rising geriatric population, all of which contribute to the increasing demand for urology guidewires.

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Urology Guidewires Market Segments Highlights:

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

Urology Guidewires Market Report Segmentation

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

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