Global Nitinol Medical Devices Market is expected to reach US$ XX Mn by 2026 from US$ XX Mn in 2019, at a CAGR of 9.2% during the forecast period.
Global Nitinol Medical Devices Market Overview:
Nitinol is an alloy of nickel and titanium that is becoming a metal of choice for the composition of numerous medical devices in the healthcare business. Nitinol has applications such as self-expanding grafts, baskets, filters, graft-supporting systems, and others.
Global Nitinol Medical Devices Market Dynamics:
Rising demand for minimally invasive surgeries is expected to propel market growth during the forecast period.
The use of minimally invasive surgery has changed the surgical paradigm in medical science. Increased interest, awareness, clinical trial and evaluation, and eventually adoption of MIS have emerged from the growth of novel technology. Nitinol has a wide range of uses in the medical field due to its super-elasticity.
Cardiovascular disease is the leading cause of death worldwide, according to the World Health Organization, with 17.9 million people dying each year. The increased prevalence of ailments such as cardiovascular disease, renal lithiasis, and others is predicted to increase the demand for nitinol medical devices.
Other factors projected to drive market growth in the global nitinol medical device market include an increase in the geriatric population, an increase in the number of surgery room procedures, an increase in the demand for minimally invasive surgical procedures, and greater healthcare expenditure.
The stringent health regulatory affairs related to medical devices are expected to hamper the global market during the forecast period. Also, there are some risks and limitations to using nitinol in the manufacture of medical devices. For medical applications involving friction and wear, nitinol cannot be considered a standard material when compared to other raw materials such as stainless steel and cobalt-chromium.
The report has profiled fifteen key players in the market from different regions. However, the report has considered all market leaders, followers and new entrants with investors while analyzing the market and estimation the size of the same. Increasing R&D activities in each region are different and focus is given on the regional impact on the cost, availability of advanced technology are analyzed and report has come up with recommendations for a future hot spot in APAC region.
Global Nitinol Medical Devices Market Segment Analysis:
The Global Nitinol Medical Devices Market is segmented on the basis of Product and Application.
Based on Product, the Nitinol Stents segment is expected to dominate the global market during the forecast period. Stents are little tubes that are inserted into a blocked artery or vein. Nitinol stents have various distinguishing characteristics that make them more efficient than conventional stents. These stents are designed in such a way that they adjust to the vessel’s wall and resist its stresses once installed.
Furthermore, despite the inclusion of nickel, these stents are less corrosive. In addition, the adoption of less invasive surgeries is projected to have a beneficial impact on the Nitinol stents market. Angioplasty is a minimally invasive procedure that involves inserting a balloon-tipped catheter into a blocked conduit and inflating the balloon with a stent. According to the American Cancer Society, approximately 18,440 new cases of oesophagal cancer will be detected in the United States by the year 2020. As a result of these factors, care providers are more likely to utilise better stents in the market, where nitinol stents are beneficial and common due to their self-expanding properties and are projected to drive the stents category.
Global Nitinol Medical Devices Market
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Global Nitinol Medical Devices Market Regional Insights:
Global Nitinol Medical Devices Market Regional InsightsNorth America dominated the global market in 2019.
North American markets made for a large portion of the market’s share in 2019. This is primarily owing to the region’s sophisticated medical infrastructure, favourable government support for technologically advanced product research and development, and the increased prevalence of chronic diseases.
Coronary heart disease, also known as ischemic heart disease, is caused by plaque build-up in the arteries’ walls. Coronary artery disease is one of the most common heart disorders in the United States, according to the Centres for Disease Control and Prevention. Plaque builds up in the arteries of people who have coronary artery disease, obstructing blood flow.
The report also helps in understanding the Global Nitinol Medical Devices Market dynamics, structure by analyzing the market segments and project the Global Nitinol Medical Devices Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Nitinol Medical Devices Market make the report investor’s guide.
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Global Nitinol Medical Devices Market
Global Nitinol Medical Devices Market, by Region
• North America
• South America
Global Nitinol Medical Devices Market Key Players
• Arthrex, Inc.
• Boston Scientific Corporation
• C. R. Bard, Inc.
• Cook Medical, Inc.
• ENDOSMART GmbH
• Medtronic plc
• B. Braun Melsungen AG
• W. L. Gore & Associates, Inc.
• Terumo Medical Corporation
• Abbott Laboratories
• Diagmed Healthcare
• Novatech SA
• Olympus America
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