According to IMARC Group’s latest report, titled “Nitinol Medical Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global nitinol medical devices market size reached US$ 16.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 25.7 Billion by 2027, exhibiting a growth rate (CAGR) of 7.6% during 2022-2027.
Nitinol belongs to a category of shape memory alloys (SMA) made using equal concentrations of titanium and nickel. It is a super elastic material with the ability to phase conversion from austenite to martensite and back to the stress-free austenite form. Commonly used nitinol medical devices include guidewires, stone retrieval baskets, filters, catheter tubes, needles, dental files, arch wires, and other surgical instruments. It is widely used to develop these instruments that undergo repetitive deformations from high strain levels during deployment. In addition, Nitinol medical devices find widespread applications in minimally invasive (MI) procedures across hospitals, clinics, and ambulatory surgical centers.
Request For a Free PDF Sample Report: https://www.imarcgroup.com/nitinol-medical-devices-market/requestsample
Note: We are in the process of updating our reports. If you want to receive the latest research data covering the period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.
Nitinol Medical Devices Market Trends:
The escalating prevalence of chronic and cardiovascular diseases across the globe, owing to the sedentary lifestyles, the rising number of individuals who smoke and consume alcohol excessively, and the increasing geriatric population, which is more sensitive to such illnesses, is among the primary factors driving the nitinol medical devices market. Besides this, the elevating requirement for minimally invasive surgeries (MIS), on account of their various benefits, including less scarring, considerable accuracy, smaller incisions, and decreased risk of complications, is further augmenting the market growth. Moreover, the leading manufacturers are introducing advanced nitinol medical devices, such as peripheral vascular stents, that find extensive applications in general surgery, structural heart diseases, and orthopedics, which is also catalyzing the global market. Apart from this, the development of material technology that offers adequate radiopacity, higher strength, enhanced purity, and tighter transformational hysteresis is acting as another significant growth-inducing factor. Furthermore, the launch of biodegradable polymer stents and the growing popularity of these instruments in orthodontics and endodontics are anticipated to propel the nitinol medical devices market over the forecasted period.
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players:
- Arthrex Inc.
- Braun Melsungen AG
- Becton Dickinson and Company
- Boston Scientific Corporation
- Cook Group Incorporated
- Endosmart GmbH
- Medtronic plc
- Shanghai MicroPort Medical (Group) Co. Ltd.
- Stryker Corporation
- Terumo Corporation
- L. Gore Associates Inc.
- Zimmer Biomet
Key Market Segmentation:
The report has categorized the market based on product type, application, end user and region.
Breakup by Product Type:
- Stents
- Baskets
- Guidewires
- Nitinol Catheters
- Nitinol Filters
- Others
Breakup by Application:
- Cardiovascular
- Urology
- Dentistry
- Gastroenterology
- Others
Breakup by End User:
- Hospitals and Clinics
- Ambulatory Surgery Centers
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
Explore full report with TOC List of Figures: https://www.imarcgroup.com/nitinol-medical-devices-market
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us:
IMARC Group
134 N 4th St.
Brooklyn, NY 11249, USA
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas: - +1 631 791 1145 | Africa and Europe: - +44-702-409-7331 | Asia: +91-120-433-0800
