Global Nitinol Medical Device Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Nitinol Medical Device Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global nitinol medical device market report has been segmented on the basis of product, application, and region.
Global Nitinol Medical Device Market: Overview
Nitinol is a trade name originated from the elements and is composed of nickel (Ni) and titanium (Ti) It is a nickel-titanium alloy that is different from other materials due to its shape memory and super elastic characteristics. Nitinol material is most commonly known for its super elasticity and thermal shape memory. The term shape-memory describes the portent of restoring to its original shape on heating and super elasticity refers to enormous elasticity properties of the alloys. It is more than ten times elasticity than stainless steels (SS) used in medicine sector. Nitinol material is used for wide range of medical devices and medical specialties products. Physical properties of Nitinol are high strength, very low stiffness, good fatigue resistance, excellent corrosion resistance, high biocompatibility, excellent shape memory, and super elasticity.
Global Nitinol Medical Device Market: Dynamics
Increasing incidences and prevelance of chronic diseases such as cardiovascular diseases and many others is a key factor expected to drive the revenue growth of the target market over the forecast years. In addition, increasing number of elderly population, increasing number of surgical room procedure, increasing demand for minimal invasive surgical procedures, and higher health care expenditure are some of the other factors expected to drive revenue growth of the global nitinol medical device market. However, stringent health regulatory policies related to medical devices is a factor expected to hamper the growth of the target market to a certain extent.
Global Nitinol Medical Device Market: Segment Analysis
Among the product segments, nitinol stents is expected to register highest revenue share due to increasing prevalence and incidences of various types of cardiovascular diseases. Among the application segments, vascular is expected to witnessed highest revenue share over the forecoming years. This is primarily to, higher adoption rate of nitinol medical device for treatment and diagnostic procedures of vascular diseases.
Global Nitinol Medical Device Market: Trends
The major manufacturers focusing launching technologically advanced product, in order to cater the growing demand of nitinol medical device. In addition, established players are collaborating with various hospitals in order to effectively supply all the Nitinol based medical devices for various application, and resulting in increasing number of customer based of company. The aforementioned is the trend witnessed in the target market.
Global Nitinol Medical Device Market: Regional Analysis
In 2018, the markets in North America accounted for major revenue share in the target market This is primarily due to, developed medical infrastructure, government favorable funding for research and development activities of technologically advanced products, and rising prevelance of chronic diseases in countries in the region. The market in Asia Pacific is witnessed highest CAGR. This is primarily attributed, higher healthcare expenditure of general population and growing awareness among the people in countries in the Asia Pacific region.
Global Nitinol Medical Device Market Segmentation:
Segmentation by product:
- Nitinol Stents
- Nitinol Guidewires
- Nitinol Filters
- Nitinol Basket
- Nitinol Catheters
Segmentation by application:
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Cook Medical Incorporated
- Zimmer Biomet Holdings Inc.
- Abbott Laboratories
- Braun Melsungen AG
- Boston Scientific Corporation
- Medtronic Plc
- L. Gore & Associates Inc.
- Terumo Corporation
- Endosmart GmbH
- R. Bard Inc.
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