Nitinol Medical Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Nitinol Medical Devices Market is segmented By Product Type (Stents, Baskets, Guidewires, Others), By Application and Geography.

Nitinol Medical Devices Market Snapshot

Nitinol medical device market snapshot
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 9.1 %

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Market Overview

The Nitinol Medical Devices Market is expected to register a CAGR of 9.1% over the forecast period. Growing burden of diseases and increasing adoption of minimally invasive surgeries is expected to propel the global nitinol medical devices market growth. Nitinol known for its super-elasticity, has wide number of applications in the healthcare industry. According to the World Health Organization, cardiovascular disease is the major cause of death worldwide and around 17.9 million people die due to it. With the higher burden of diseases such as cardiovascular disorders, renal lithiasis, etc.,  the demand for nitinol medical devices is also expected to increase. However, the presence of alternative to these devices may impel the nitinol medical devices market growth.

Scope of the Report

Nitinol is basically an alloy made up from nickel and titanium, with its unique properties of shape memory effect and super elasticity. Nitinol medical Devices Market is segmented By Product Type, Application and Geography.

By Product Type
Stents
Baskets
Guidewires
Others
By Application
Cardiovascular
Urology
Dentistry
Others
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Stents Segment is Expected to Hold a Major Share in the Nitinol medical Devices Market

• Stents are tiny tubes that are used for insertion into a blocked passageway. Nitinol stents exhibit some unique properties that makes it more efficient than other stents. These stents are engineered in such a way that when inserted, it adjusts itself into the wall of the vessel and resists it’s forces. Also, these stents are less corrosive even though there is a presence of nickel.

• According to the American Cancer Society, approximately 18,440 new cases have been diagnosed with esophageal cancer for the year 2020, in the United States. Such factors helps the care providers to use better stents in the market where the nitinol stents are useful and commonly due to its self-expanding characteristic, thereby, expected to drive the stents segment.

• Furthermore, adoption of minimally invasive surgeries is expected to influence positively on the nitinol stents segment. For instance, angioplasty is a minimal invasive surgery that requires a balloon tipped catheter to insert into a blocked vessel and a stent to inflate the balloon. According to the study of Eurostat, in 2017, around 1.2 million procedures related to transluminal coronary angioplasty were conducted.

 

Nitinol Medical Devices Market Trends Image.png

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North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period

North America is expected to be a dominant region in nitinol medical devices market growth due to the growing burden of diseases and increase in adoption of minimally invasive procedures. Coronary heart disease also known as ischemic heart disease is caused due to formation of plaque in the wall of arteries. According to the Centre for Disease Control and Prevention, coronary artery disease is one of the most affected heart diseases in the United States. In coronary artery disease, plaque builds up and blocks the arteries as a result there is improper flow of blood. For removal of these blockages generally stents are used. Hence, these factor is expected to impact positively on the nitinol medical devices market growth in this particular region.

Nitinol Medical Devices Market - Growth Rate by Region

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Competitive Landscape

The Nitinol medical Devices Market is fragmented and consists of several major players. In terms of market share, few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are EndoSmart GmbH, Boston Scientific Inc., B. Braun Melsungen, Arthrex Inc., Zimmer Biomet, Cook Medical, Terumo IS, Merck KGaA, Becton, Dickinson & Company and W.L. Gore & Associate Inc.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Growing Burden of Chronic Diseases

      2. 4.2.2 Rising Preference for Minimally Invasive Surgeries

    3. 4.3 Market Restraints

      1. 4.3.1 High-cost of Devices

      2. 4.3.2 Presence of Alternative Devices

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Stents

      2. 5.1.2 Baskets

      3. 5.1.3 Guidewires

      4. 5.1.4 Others

    2. 5.2 By Application

      1. 5.2.1 Cardiovascular

      2. 5.2.2 Urology

      3. 5.2.3 Dentistry

      4. 5.2.4 Others

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle-East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle-East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Arthrex Inc

      2. 6.1.2 B. Braun Melsungen

      3. 6.1.3 Boston Scientific Inc

      4. 6.1.4 Becton, Dickinson & Company

      5. 6.1.5 Cook Medical

      6. 6.1.6 EndoSmart GmbH

      7. 6.1.7 Merck KGaA

      8. 6.1.8 Terumo IS (Terumo Corporation)

      9. 6.1.9 W.L. Gore & Associate Inc.

      10. 6.1.10 Zimmer Biomet

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Nitinol Medical Devices Market market is studied from 2018 - 2026.

The Nitinol Medical Devices Market is growing at a CAGR of 9.1% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Boston Scientific Inc., Zimmer Biomet , B. Braun Melsungen, Arthrex Inc., Terumo IS are the major companies operating in Nitinol Medical Devices Market.

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