Stainless Steel Segment to Dominate MEA Endoscopy Guidewire Market during 2020–2028
According to The Insight Partners market research study on “MEA Endoscopy Guidewire Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Core Material and Application Area,” is expected to reach US$ 89.40 million by 2028 from US$ 64.49 million in 2021. The market is estimated to grow at a CAGR of 4.8% from 2021 to 2028. The report provides trends prevailing in the MEA endoscopy guidewire market along with the drivers and restraints pertaining to the market growth. Rising prevalence of diseases requiring endoscopy is the major factor driving the growth of the MEA endoscopy guidewire market. However, risk of infections caused due to endoscopy and high cost of endoscopy procedures & equipment hinder the growth of MEA endoscopy guidewire market.
Countries in Middle East have also widely affected the socio-economic condition by the COVID–19 pandemic. However, the countries have wisely reacted to the COVID–19 pandemic to avoid the spread of infection. Similar to other regions, lockdown and social distancing were imposed, which has impaired these trends hindering access to work, regular income, payments, fairs, schools, and healthcare. Therefore, it is expected the countries have undergone huge losses and are still trying to recover them. The lockdown has widely affected the non-emergency medical services in the region, which has somehow affected the medical devices. Countries like Saudi Arabia and UAE are emerging as healthcare destinations in the regions. However, they are dependent on the countries for the resources. The availability of the vaccines and other healthcare facilities in the developing countries in the region is expected to provide scope for the market few years.
The market for endoscopy guidewire market is segmented into type, core material, application, and country. Based on type, the market is segmented into monofilament, coiled, coated. In 2020, the coated segment held the largest share MEA endoscopy guidewire market. Based on core material, the market is divided into stainless steel and nitinol. In 2020, the stainless steel segment held the largest share MEA endoscopy guidewire market. Based on application, the market is segmented into diagnostics and therapeutic. In 2020, the diagnostics segment held the largest share MEA endoscopy guidewire market. Similarly, based on country, the market is bifurcated into Saudi Arabia, South Africa, UAE, RoMEA. RoMEA contributed a substantial share in 2020.
Boston Scientific Corporation; CONMED Corporation; HOBBS MEDICAL INC; Medtronic; Merit Medical Systems Inc; Olympus Corporation; are among the leading companies in the MEA endoscopy guidewire market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2017, Olympus Corporation, among the technology leaders in designing and delivering innovative solutions for medical and surgical procedures, the availability of several new endoscopic therapeutic devices, in the Digestive Disease Week conference in Chicago, Ill.
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