According to a recent market study published by Growth Market Reports (GMR), titled, “Global Nitinol-based-medical Devices Market by Products, Applications, End-users and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at USD 14,511.0 Million in 2019 and is expected to grow at a growth rate of 10.6 % by the year 2027. The global Nitinol-based medical devices market is anticipated to grow owing to surge in the rise in the prevalence of the cardiac diseases, and rise in the occurrence of the arteriosclerosis and other vascular diseases has led to the rise in the adoption of the nitinol-based medical devices market.
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The global nitinol-based medical devices market is fragmented based on products, application, end-user and region. Based on products, the nitinol-based medical devices market is segmented into nitinol stents, nitinol guidewires, nitinol filters, nitinol basket, nitinol catheters and others. Nitinol guidewires segment is further bifurcated into orthodontic guidewires and endoscopic guidewires. In terms of application, the nitinol-based medical devices market is segmented into orthopedic, vascular, dental, gastroenterology and others. Based on end-users, the market is classified as hospitals, clinics, ambulatory surgical centers and others. Based on region, the global Nitinol-based medical devices market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as US, and Canada. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, Asia Pacific is further segmented into, India, China, South Korea, Australia, South East Asia, Japan, and Rest of Asia Pacific. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe, and the MEA region is further divided into Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa (MEA).
In year 2020, the Nitinol-based medical devices market is expected to witness the rapid growth due to COVID 19 pandemic. However, increased prevalence of the COVID-19 globally has augmented the need of the medical devices for surgeries for the treatment of COVID-19. This, in turn, has enlarged investment in the research and development of medical devices. Hence, the demand for nitinol-based medical devices is projected to upsurge during the forecast period. However, the market is anticipated to witness slight fluctuations in demand and supply for Nitinol-based medical devices due to closing of international trades.
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As per GMR industry analyst Akshata Ahire, “The Global Nitinol-based medical devices market is anticipated to witness significant growth during forecast period 2021-2027 driven by growing focus on healthcare programs, increasing awareness among consumers for diseases, rising chronic diseases, and growing investment in R&D for the manufacturing of medical devices. Since, technological advancement in medical devices and increasing opportunities for medical device manufacturer’s factors possesses as an opportunity for this market.
Key Takeaways from the Study:
- North America accounts for a major share of the market, followed by Europe. The market in North America is projected to expand at significant CAGR during the forecast period.
- In terms of value, the hospitals segment is projected to increase at a substantial CAGR during the forecast timeline. Numerous consumers avail treatment from hospitals owing to the convenience thus, contributes to the segmental growth.
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Report Scope:
| Report Metric | Details |
| Market Value in 2019 | USD 14,511.0 Million |
| Market Growth Rate (from 2021 to 2027) | 10.6 % |
| Historical Data | 2017 & 2018 |
| Base Year | 2019 |
| Forecast Period | 2020 – 2027 |
| Units Considered | Value (US$ Million) |
| Market Segments | By Products, By Application, By End-user |
| Regional Scope | North America, Europe, Latin America, Asia Pacific, Middle East & Africa (MEA) |
| Country Scope | U.S., Canada, Brazil, Mexico, Rest of Latin America, India, China, Japan, South Korea, Australia, South East Asia, Rest of Asia Pacific, U.K., France, Germany, Italy, Spain, Russia, Rest of Europe, Saudi Arabia, South Africa, UAE, and Rest of MEA. |
| Key Companies Profiled | Abbott, Arthrex, Inc., B. Braun Melsungen AG, BD, BIOTRONIK, Boston Scientific Corporation, Cook, Diagmed Healthcare, ENDOSMART, Medtronic, Novatech SA, Olympus America, Terumo Medical Corporation, W. L. Gore & Associates, Inc., ZimmerBiomet |
| Customization Scope | Report customization available on request |
| Pricing and Purchase Options | Avail tailor-made purchase options to meet your research requirements. |
Target Audience:
- Supply-side: Nitinol-based medical devices manufacturers, raw material suppliers, primary respondents, and distributors.
- Demand Side: Hospitals, Clinics, Ambulatory Surgical Centers, Medical Laboratories, etc.
- Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies
- Associations and Industry Bodies: Centers for Disease Control and Prevention (CDC), Food and Drug Administration (FDA),World Health Organization (WHO), Medicines and Healthcare Products Regulatory Agency (MHRA), National Pharmaceutical Pricing Association (NPPA) Central Drug Standard Control organization (CDSCO), Ministry of Health, Labor and Welfare (MHLW), International Federation of Pharmaceutical Manufacturers & Association (IFPMA), World Trade Organization (WTO), Indian Medical Research Council (ICMR).
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