The Fine Medical Wire Market To Move Out Of Its Buoyancy

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Fine Medical Wire Market
Report Id PMRREP32387 Category Life Science
Healthcare
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The Fine Medical Wire Market To Move Out Of Its
Buoyancy

• 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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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.

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