An increasing number of hospitals to act in favor of the growth of the global ultrafine tungsten wire for medical application market. Recently Fortune Business Insights published a report titled, “Ultrafine Tungsten Wire for Medical Applications Market Size, Share and Global Trend by Application and Geography Forecast till 2025”. According to the report in 2017, the global ultrafine tungsten wire for medical application market was Worth US$ 36.1 Mn. The Global Market is anticipated to progress at a CAGR of 7.4% and reach US$ 63.5 Mn by the end of 2025. The report classifies the global ultrafine tungsten wire for medical application market in various segments and offers a comprehensive overview.
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As per the report in 2017, North America was dominated by the global ultrafine tungsten wire for medical application market. The North America market was valued at US$ 15.8 Mn in 2017. The trend is unlikely to change and North America is expected to dominate the global market through the forecast period. The growth witnessed is attributable to the increasing demand for ultrafine medical-grade tungsten wire in the region for surgical robots and electrosurgery. The ultrafine tungsten wire for medical application market in Asia Pacific is foreseen to expand at relatively higher CAGR during the forecast period. The high presence of tungsten reserves in the region is expected to drive the Asia Pacific ultrafine tungsten wire for medical application market.
An Overview of the Impact of COVID-19 on this Market:
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Analysis by Top Key Players:
- Elmet Technologies,
- Sumitomo Electric USA,
- California Fine Wire Company,
- Ulbrich Stainless Steels and Special Metals Inc.,
- American Elements,
- Metal Cutting Corporation
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“Adoption of Advanced Technology to Increase Growth Rate”
Adoption of advanced manufacturing technology by market players in the cable and wire industry and entry of new players in the global ultrafine tungsten wire for medical application market is likely to impact the market position of existing players. Some of the companies operating in the global ultrafine tungsten wire for medical application market are Elmet Technologies, Sumitomo Electric USA, California Fine Wire Company, Ulbrich Stainless Steels and Special Metals Inc., American Elements, Tungsram, and Metal Cutting Corporation.
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