The global Nitinol Medical Devices Market is estimated to be valued at Us$ 44305.49 Mn in 2023 and is expected to exhibit a CAGR Of 10.% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Nitinol medical devices are used in minimally invasive medical procedures. Their shape memory and superelastic properties allow them to be inserted into the body through small incisions or body orifices and then expanded or deployed as needed. These devices help complete complex medical procedures with less trauma to the patient.
Market key trends:
Nitinol is increasingly being used to manufacture vascular filters and stents. These devices offer advantages over metal stents as Nitinol stents are more flexible and kink-resistant. They conform to vessel curves and adapt their shape to pulsatile blood flow. Second generation Nitinol stents with enhanced designs and drug coatings have gained popularity. They provide better vessel support and help prevent restenosis post angioplasty. The self-expanding nature of Nitinol stents eases installation and removes the need for balloon inflation. Their shape memory allows minimally invasive catheter delivery and deployment.
Segment Analysis
The global nitinol medical devices market is segmented based on product and end user. By product, the market is categorized into nitinol stents, nitinol guidewires, nitinol filters, nitinol basket and nitinol catheters. Among these, the nitinol stents segment dominates the market due to the wide use of nitinol stents in interventional cardiovascular procedures like angioplasty and stent placement. By end user, the market is categorized into hospitals, clinics and others. The hospitals segment holds the largest market share due to the high volume of cardiovascular procedures performed in hospitals.
Key Takeaways
The Global Nitinol Medical Devices Market Demand is expected to witness high growth, exhibiting a CAGR of 10% over the forecast period, due to increasing prevalence of cardiovascular diseases.
Regional analysis:
North America dominates the global nitinol medical devices market due to the rising geriatric population and increasing adoption of minimally invasive surgeries in the region. However, Asia Pacific is expected to grow at the highest CAGR during the forecast period due to rapid improvements in healthcare infrastructure and increasing healthcare expenditure in emerging countries such as China and India.
Key players:
Key players operating in the nitinol medical devices market are Zimmer Biomet, Merck KgaA, EndoSmart GmbH, Cook Medical, Boston Scientific Inc., B. Braun Melsungen AG, Arthrex Inc., W.L. Gore and Associates Inc., Becton, Company, and Terumo Interventional Systems (Terumo Corporation), among others. Zimmer Biomet holds the largest market share due to its wide portfolio of nitinol-based orthopedic implants and cardiovascular devices.
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