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Shape memory alloys (SMA) are referred to as a unique class of metals, which have the ability to regain their original shape after severe deformation. Shape memory is basically a property possessed by certain materials that have the ability to remember the shape given during themo-mechanical processing allowing the materials to regain their original shape when subjected to heat. This is because SMAs when subjected to external heat or internal electrical current flow, exhibit a reversible thermoelastic martensite transformation with a macroscopic shape change. Thus, these alloys are being employed in various industries such as medical, robotics, automotive, and aerospace due to the possession of this unique biochemical property. SMAs, over the years, have gained a strong foothold because they offer incredible flexibility in comparison to other conventional materials. Currently, copper-aluminum-nickel, zinc-aluminum, nitinol, and iron-manganese-silicon alloys are various commercially available shape memory alloys. Of these shape memory alloys, Nitinol is an alloy composed of titanium and nickel. It contains these two elements at approximately equal atomic percentages. Nitinol has been employed in a range of medical devices and is the most significant alloy in biomedical applications for over thirty years. Therefore, increased utilization of this alloy has replaced the consumption of stainless steel in the manufacturing of medical devices substantially. Nitinol has been widely employed in medical devices where its unique properties allows minimally invasive surgery and implants to improve the quality of life. Nitinol is popular in medical devices due to its elasticity, biocompatibility, and fatigue and kink resistance. nitinol is utilized to manufacture guidewires, filters, catheter tubes, needles, dental files, and various other surgical instruments in the healthcare sector.

Increased usage of nitinol, to manufacture various medical devices has changed the algorithm of disease treatment. The nitinol market exhibits considerable potential for expansion, particularly in developing nations, due to rise in geriatric population globally and the increasing rate of vascular diseases such as peripheral arterial diseases and coronary artery diseases. Increasing adoption of minimally invasive procedures that involve the usage of miniature devices is driving the expansion of the nitinol market., Nitinol has increasingly being employed in medical devices as a material for graft support system, self-expanding stents , baskets, filters, and various other medical devices for various endoscopic and interventional procedures. The growth in this industry has increased over the last 10 years with increase in the number of nitinol suppliers and is progressing at a faster pace, with increasing demand from medical device community. Moreover, nitinol alloy is employed in the automotive (sealing plugs and locking rings), defense (special antennas, wire, harness and cable) and aerospace industries (locking rings, actuators and connectors for electronica and safety devices), particularly where thermal shape memory enables actuators. Furthermore, nitinol has been useful in industrial applications such as couplings, actuators, sealing high-pressure fuel passages, and in commercial applications such as cellphone antennae and eyeglass frames.

In terms of geography, North America accounted for major share of the global nitinol market, in terms of volume, in 2015. However, Asia Pacific due to the presence of large population base, increasing healthcare awareness, favorable government support and expanding medical industry, is anticipated to expand significantly during the forecast period.

Key players operating in the global nitinol market include E. I. Du Pont De Nemours and Company, Exmovere Holdings, Inc., Noble Biomaterials, Inc., and Noble Biomaterials, Inc.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Nitinol Market

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