"Catapult Your Business to Fore, Gain Competitive Advantage "
The global ultrafine tungsten wire market size For Medical Applications held a volume of 2,371.5 thousand km in 2017, is projected to reach a volume of 4,177.4 thousand km by the end of 2025, exhibiting a CAGR of 7.5%.
Tungsten wire is extremely valuable for medical applications such as brain stimulation and neural probing, where the diameter of the wire is required to be ultrafine. Additionally, tungsten wire has high tensile properties that offer a cost-effective alternative to many refractory metals for steerable guide wires in critical medical applications.
It is widely used to manufacture X-ray equipment and computer tomography. Tungsten wire’s high density also defines its unique radiopaque value, allowing it to be used in fluoroscopic applications. Unique medical grade tungsten alloys for 3D-printed medical implants are being developed to offer enhanced strength and capability. These alloys are ideal for manufacturing ultra-fine tungsten wire suitable for various medical applications.
Get comprehensive study about this report by, request a free sample copy
"Electro Surgery to Emerge as the Leading Medical Application"
In terms of application, the global ultrafine tungsten wire market for medical applications is segmented into medical, stents, guidewire, electrosurgery, and others. Electrosurgery application segment is expected to dominate the global ultrafine tungsten wire for medical applications market during the forecast period. This is mainly because in electrosurgery, ultrafine tungsten wire finds usage in a wide spectrum of general and specialized electrostimulation procedures such as probing and stimulation. The stents segment covered approximately 6.2% of the global market volume in 2017.
To get details on market share, speak to analyst
Medical/surgical robots segment is anticipated to be the fastest-growing application segment in the ultrafine tungsten wire market for medical applications. Tungsten wire is deployed in surgical robots for various functions such as incorporating flexible arm movement, elbow and wrist mechanism, and in gripper tool for the enhanced grasping ability.
Due to its unique characteristics, tungsten wire can be used as a substitute for steel and other hard metal wires used in surgical robot arms. Further, tungsten wires have a low risk of thermal stress, thereby enabling longer service life when used in medical robotics parts.
"Widespread Adoption of Ultrafine Tungsten Wire in Electro Surgery and Surgical Robots in North America Ensures Highest Market Share"
The global market is dominated by North America mainly due to rising demand for ultrafine medical grade tungsten wire for electro surgery and surgical robots. The region held a market volume of 1,092.8 thousand km of ultrafine tungsten wire in 2017, and is expected to maintain its foothold during the forecast period. In terms of growth rate, Asia Pacific is anticipated to exhibit highest growth rate during the forecast period.
North America Ultrafine Tungsten Wire for Medical Applications Market, 2017
To get geographical overview of this market, request a free sample copy
Presence of abundant tungsten powder reserves and healthy growth in medical industry in APAC is likely to propel the growth of ultrafine tungsten wire for medical applications in the region. Development of customized and cost-effective tungsten wire is a prominent adoption trend observed in this region. Due to high density and high melting point, tungsten wire is visible on x-ray machines. This, in turn, is helpful in guiding the surgeon/ doctor to block valves or channels for injecting and positioning catheters accurately.
"Luma Metall AB, Xiamen Honglu Tungsten Molybdenum Industry Co., Nippon Tungsten Co., Ltd., and Plansee Leading the Global Ultrafine Tungsten Wire for Medical Applications Market in Terms of Volume"
Currently, the global ultrafine tungsten wire market displays a fragmented competitive scenario due to the presence of a large number of global and local vendors. The market is likely to direct towards consolidation during second half of the forecast period, 2022-2025. Market positioning of key players is likely to be determined by their installed capacity to supply ultrafine tungsten wire market. Among the global market leaders are Luma Metall AB, Xiamen Honglu Tungsten Molybdenum Industry Co., Nippon Tungsten Co., Ltd., Plansee, and Midwest Tungsten Service.
Adoption of innovative manufacturing technology in wires and cable industry by market leaders along with the growth of local manufacturers and suppliers or distributors in countries such as China and Korea are expected to affect the market positioning of players during 2018-2025. Other prominent players functioning in the global ultrafine tungsten wire market are Elmet Technologies, Sumitomo Electric USA, California Fine Wire Company, Ulbrich Stainless Steels and Special Metals Inc., American Elements, Tungsram, Metal Cutting Corporation, and others.
Ultrafine tungsten wire is used in medical devices for applications where electric current needs to be applied and accuracy is critical. Remarkable properties of tungsten, make it suitable for use in wire form in medical/surgical equipment for healthcare industry. Also, factors such as increasing affordability of tungsten wire due to declining prices and over production of tungsten is promoting adoption of ultrafine tungsten wire for diverse commercial applications.
The report provides qualitative and quantitative insights on ultrafine tungsten wire for medical applications and the detailed analysis of market size & growth rate for all possible segments in the market. The market is segmented by application and geographically. On the basis of application, the market is categorized into medical, stents, guide wire, electro surgery and others. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. These regions are further categorized into countries.
To get information on various segments, share your queries with us
Along with this, the report provides elaborative analysis of market dynamics and competitive landscape. Key insights provided in the report are the adoption trends of ultrafine tungsten wire, cost structure analysis, recent industry developments such as partnerships, mergers & acquisitions, industry SWOT analysis, business strategies of leading market players, macro and micro economic indicators, and key industry trends.
In 2018, the global ultrafine tungsten wire for medical applications market demand was valued at 2371.5 thousand km.
In 2025, the global ultrafine tungsten wire for medical applications market demand is expected to reach USD 4177.4 thousand km.
The ultrafine tungsten wire for medical applications market is projected to grow at a CAGR of 7.5% during the forecast period (2018-2025).
Electro surgery is expected to lead the ultrafine tungsten wire for medical applications market during the forecast period.
The rise in demand for manufacturing of surgical robots and other medical equipment such as guide wires, stents, and others, implanted by ultra-fine tungsten wire has driven the growth of tungsten wire for the medical industry.
The global market leaders are Luma Metall AB, Xiamen Honglu Tungsten Molybdenum Industry Co., Nippon Tungsten Co., Ltd., Plansee, and Midwest Tungsten Service.
North America is expected to lead industrial ultrafine tungsten wire for medical applications market owing to the increasing demand from the electro surgery and surgical robots sector.
Unique medical grade tungsten alloys for 3D-printed medical implants are being developed to offer enhanced strength and capability.
Adoption of innovative manufacturing technology in wires and cable industry by market leaders along with the growth of local manufacturers and suppliers or distributors in countries such as China and Korea are expected to affect the market positioning of players during 2018-2025.
Market displays a fragmented competitive scenario due to the presence of a large number of global and local vendors.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm