Fine Medical Wire Market To Continue Revolving In The Growth Orbit

Posted by Merin John on June 2nd, 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).

Get Sample Copy of Report @ https://www.persistencemarketresearch.com/samples/32387

Companies covered in Fine Medical Wire Market Report

•          Elmet Technologies
•          Ulbrich Stainless Steels and Special Metals Inc.
•          American Elements
•          Sandvik
•          Central Wire
•          Haynes International
•          Elektrisola Group
•          Prince Izant Medical
•          Metal Cutting Corporation
•          California Fine Wire
•          Luma Metall
•          Tokusen Kogyo Co., Ltd.
•          KOS LTD
•          Suqian Medix Alloy
•          Loos & Co., Inc
•          Venus Wires
•          Fort Wayne Metals
•          Tungsram
•          Sumitomo
•          InterWire

Key Takeaways from Market Study   

•          Flat wires are dominating the market at present, and are expected to continue to do so over the forecast period as well.
•          Tungsten holds a major share in the metals segment, and is expected to reach US$ 484 Mn valuation by 2030, making it the predominant growth contributing factor for the market as far as material is concerned.
•          Endoscopics and vascular therapy combine to contribute over 50% of the generated market revenue.
•          China and India are the most flourishing nations that offer significant potential for market growth, with both markets expected to expand at over 8% CAGR through 2030.

“Rising advancements in orthodontics and increasing product launches are expected to propel demand for fine medical wire across regions,” says a Persistence Market Research analyst.