Global Fine Medical Wire Market

Report ID : 1253 | Published : 2022-08-01 | Pages: | Format: PDF/EXCEL

The market size of the Global Fine Medical Wire Market is expected to show 7.6% CAGR during the forecast period.

Fine medical wires are used in medical applications to guide medical devices in the body so as to not lose them there and risk a medical condition. Fine medical wires are used in multiple medical applications such as vascular therapy, stimulation therapy, endoscopic, orthodontics, etc. the exceptional properties of these wires make them a highly preferred piece of medical equipment in the healthcare industry across the world. The rising affordability of these wires due to declining prices worldwide is also expected to boost fine medical wire market potential over the forecast period through 2031. The adoption of titanium and titanium alloys is a prominent trend in the fine medical wire market. An increasing number of orthopaedic surgeries are also anticipated to drive demand for the fine medical wire through 2031.

The outbreak of the COVID-19 pandemic had a negative impact on the overall fine medical wire market growth as the focus of the healthcare industry was completely on containing the spread of coronavirus infections. As the pandemic has now subsided, the restrictions have been lifted, and the healthcare industry is returning to its normal pace, and this is expected to drive the fine medical wire market at a normal pace over the coming years. 

Market Segmentation:

The fine medical wire market is segmented on the basis of material, end-user, and application. By material, the market is segmented as metals and alloys. By end-users, the market is segmented into flat wire, round wire, other wire shapes. By application, the market is segmented into endoscopics, orthodontics, orthopedics, surgical enclosure, vascular therapy, stimulation therapy, cochlear remediation.

Based on material, the alloy segment is anticipated to have a bright outlook.

The alloys segment is projected to rise at a higher CAGR than the metal segment owing to the rising popularity of benefits of alloys. Increased flexibility and strength of medical wires due to the use of alloys is attracting many fine medical wire manufacturers to use alloys, and this is expected to drive demand in this segment across the forecast period. The metals segment is also anticipated to account for a prominent market share in the global fine medical wire industry landscape.

Endoscopic Application to See high demand

The number of endoscopies performed across the world has increased substantially, and this is majorly driving the demand for fine medical wire. Rising demand for minimally invasive surgeries is further anticipated to further drive demand for endoscopies over the forecast period. Fine medical wire manufacturers are focusing on developing advanced wires for novel medical devices and equipment in the overall healthcare industry.

In the region, the North America fine medical wire market holds a dominant outlook.

The North America fine medical wire market is expected to account for a prominent market share over the forecast years and is anticipated to be a highly lucrative region in the global fine medical wire industry landscape. The presence of developed healthcare infrastructure and key fine medical wire manufacturers are expected to be major factors driving fine medical wire market potential over the forecast period. High healthcare expenditure and spending potential in this region are expected to prominently drive demand for fine medical wire, which is anticipated to further boost the adoption of minimally invasive procedures. The United States is projected to be the most lucrative market in this region, owing to the rising prevalence of chronic diseases.

Competitive Landscape

The key players in the fine medical wire market have shifted their focus towards bio-based components for product manufacturing and are initiating significant strategies such as mergers, acquisitions, and joint ventures of major and domestic players to enhance product portfolio and strengthen their market footprint across the globe. Some of the major key players in the fine medical wire market are 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, and InterWire.

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Fine Medical Wire Market Snapshot

Chapter 4. Global Fine Medical Wire Market Variables, Trends & Scope

4.1. Market Segmentation & Scope

4.2. Drivers

4.3. Challenges

4.4. Trends

4.5. Industry Analysis – Porter’s Five Forces Analysis

4.6. Competitive Landscape & Market Share Analysis

4.7. COVID 19 Impact Analysis

Chapter 5. Market Segmentation 1: By Material Estimates & Trend Analysis

5.1. By Material & Market Share, 2020 & 2030

5.2. Market Size (Value & Volume) & Forecasts and Trend Analyses, 2020 to 2030 for the following By Material:

5.2.1. Metals

5.2.1.1.  Tungsten

5.2.1.2.  Silver

5.2.1.3.  Gold

5.2.1.4.  Platinum

5.2.1.5.  Tantalum

5.2.1.6.  Others

5.2.2. Alloys

5.2.2.1.  Stainless Steel

5.2.2.2.  304V

5.2.2.3.  Nitinol

5.2.2.4.  MP35N

5.2.2.5.  L605

5.2.2.6.  Beryllium Copper

5.2.2.7.  Others

Chapter 6. Fine Medical Wire Market Segmentation 2: By Applications Estimates & Trend Analysis

6.1. By Applications Analysis & Market Share, 2020 & 2030

6.2. Market Size (Value & Volume) & Forecasts and Trend Analyses, 2020 to 2030 for the following By Applications:

6.2.1. Endoscopics

6.2.2. Orthodontics

6.2.3. Orthopedics

6.2.4. Surgical Enclosure

6.2.5. Vascular Therapy

6.2.6. Stimulation Therapy

6.2.7. Cochlear Remediation

Chapter 7. Fine Medical Wire Market Segmentation 3: By Wire Shape Estimates & Trend Analysis

7.1. By Wire Shape Analysis & Market Share, 2020 & 2030

7.2. Market Size (Value & Volume) & Forecasts and Trend Analyses, 2020 to 2030 for the following By Wire Shape:

7.2.1. Flat Wire

7.2.2. Round Wire

7.2.3. Other Wire Shape

Chapter 8. Fine Medical Wire Market Segmentation 4: Regional Estimates & Trend Analysis

8.1. North America

8.1.1. North America Fine Medical Wire Market revenue (US$ Million) and volume (No. of Units) estimates and forecasts By Material, 2020-2030

8.1.2. North America Fine Medical Wire Market revenue (US$ Million) and volume (No. of Units) estimates and forecasts By Applications, 2020-2030

8.1.3. North America Fine Medical Wire Market revenue (US$ Million) and volume (No. of Units) estimates and forecasts By Wire Shape, 2020-2030

8.1.4. North America Fine Medical Wire Market revenue (US$ Million) and volume (No. of Units) estimates and forecasts by country, 2020-2030

8.1.4.1. U.S.

8.1.4.2. Canada

8.2. Europe

8.2.1. Europe Fine Medical Wire Market revenue (US$ Million) and volume (No. of Units) By Material, 2020-2030

8.2.2. Europe Fine Medical Wire Market revenue (US$ Million) and volume (No. of Units) By Applications, 2020-2030

8.2.3. Europe Fine Medical Wire Market revenue (US$ Million) and volume (No. of Units) By Wire Shape, 2020-2030

8.2.4. Europe Fine Medical Wire Market revenue (US$ Million) and volume (No. of Units) by country, 2020-2030

8.2.4.1. Germany

8.2.4.2. Poland

8.2.4.3. France

8.2.4.4. Italy

8.2.4.5. Spain

8.2.4.6. UK

8.2.4.7. Rest of Europe

8.3. Asia Pacific

8.3.1. Asia Pacific Fine Medical Wire Market revenue (US$ Million) and volume (No. of Units) By Material, 2020-2030

8.3.2. Asia Pacific Fine Medical Wire Market revenue (US$ Million) and volume (No. of Units) By Applications, 2020-2030

8.3.3. Asia Pacific Fine Medical Wire Market revenue (US$ Million) and volume (No. of Units) By Wire Shape, 2020-2030

8.3.4. Asia Pacific Fine Medical Wire Market revenue (US$ Million) and volume (No. of Units) by country, 2020-2030

8.3.4.1. China

8.3.4.2. India

8.3.4.3. Japan

8.3.4.4. Australia

8.3.4.5. Rest of Asia Pacific

8.4. Latin America

8.4.1. Latin America Fine Medical Wire Market revenue (US$ Million) and volume (No. of Units) By Material, (US$ Million) 2020-2030

8.4.2. Latin America Fine Medical Wire Market revenue (US$ Million) and volume (No. of Units) By Applications, (US$ Million) 2020-2030

8.4.3. Latin America Fine Medical Wire Market revenue (US$ Million) and volume (No. of Units) By Wire Shape, (US$ Million) 2020-2030

8.4.4. Latin America Fine Medical Wire Market revenue (US$ Million) and volume (No. of Units) by country, (US$ Million) 2020-2030

8.4.4.1. Brazil

8.4.4.2. Rest of Latin America

8.5. MEA

8.5.1. MEA revenue Fine Medical Wire Market revenue (US$ Million) and volume (No. of Units) By Material, (US$ Million) 2020-2030

8.5.2. MEA revenue Fine Medical Wire Market revenue (US$ Million) and volume (No. of Units) By Applications, (US$ Million) 2020-2030

8.5.3. MEA revenue Fine Medical Wire Market revenue (US$ Million) and volume (No. of Units) By Wire Shape, (US$ Million) 2020-2030

8.5.4. MEA revenue Fine Medical Wire Market revenue (US$ Million) and volume (No. of Units) by country, (US$ Million) 2020-2030

8.5.4.1. South Africa

8.5.4.2. Rest of MEA

Chapter 9. Competitive Landscape

9.1. Major Mergers and Acquisitions/Strategic Alliances

9.2. Company Profiles

9.2.1. Elmet Technologies

9.2.2. Ulbrich Stainless Steels and Special Metals Inc.

9.2.3. American Elements

9.2.4. Sandvik

9.2.5. Central Wire

9.2.6. Haynes International

9.2.7. Elektrisola Group

9.2.8. Prince Izant Medical

9.2.9. Metal Cutting Corporation

9.2.10. California Fine Wire

9.2.11. Luma Metall

9.2.12. Tokusen Kogyo Co., Ltd.

9.2.13. KOS LTD

9.2.14. Suqian Medix Alloy

9.2.15. Loos & Co., Inc

9.2.16. Venus Wires

9.2.17. Fort Wayne Metals

9.2.18. Tungsram

9.2.19. Sumitomo

9.2.20. InterWire

8.3. List of Other Prominent Players

Segmentation of Fine Medical Wire Market-

By Material-

  • Metals
  • Alloys

By Application-

  • Endoscopics
  • Orthodontics
  • Orthopaedics
  • Surgical Enclosure
  • Vascular Therapy
  • Stimulation Therapy
  • Cochlear Remediation

By End-Users-

  • Flat Wire
  • Round Wire
  • Other Wire Shape

By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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7.6% CAGR during the forecast period

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