Where Would The Fine Medical Wire Market Be Placed In The Next Decade?

Posted by Steve Sharma on May 11th, 2021

Prevalence of vascular disease is increasing at an alarming rate. This disorder has a serious impact on life expectancy and quality of life, such as small vascular disorder can be a cause of debility and distress. In fact, vascular diseases are very common, may cause considerable discomfort, and in cases of venous ulceration, considerable disability. Cardiovascular disorders (CVDs) put major burden on the healthcare system as compared to other disorders. Around 17.7 million people died from CVDs in 2015, representing 31% of all global deaths. Rising prevalence of CVD is driving demand for fine medical wire for guide wires, catheter reinforcements, and pacing leads, which act as integral parts of medical devices.

COVID-19 negatively impacted demand for fine medical wire in the first quarter of 2020. Global lockdowns along with shutting of major economies such as China halted demand and supply activities. Shortage of fine medical wire along with limited hospital visits due to the large influx of COVID-19 patients jolted market growth.

Persistence Market Research predicts that the global fine medical wire market will exhibits over 6% CAGR during the forecast period (2020-2030).

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