Nitinol Medical Devices Market
Nitinol Medical Devices Market (Product - Nitinol Stents, Nitinol Guidewires, Nitinol Filters, Nitinol Basket, and Nitinol Catheters; Application - Orthopedic, Vascular, Dental, and Gastroenterology; End-user - Hospitals, Clinics, and Ambulatory Surgical Centers) - Global Industry Analysis, Size, Share, Volume, Growth, Trends, and Forecast 2017 - 2025
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Global Nitinol Medical Devices Market: Snapshot
The competitive landscape of the global nitinol medical devices market features a number of leading players that are heavily concentrating on product development to reinforce their position. The leading companies are also additionally competing to extend their geographical reach by adopting aggressive strategies such as mergers and acquisitions. There are multiple factors that are helping to spur the development of the global nitinol medical device such as the growing pervasiveness of cardiovascular diseases, growing geriatric populace that are more susceptible to vein disorders, and expanding interest for minimally invasive surgeries. According to insights of the WHO, around 17.7 mn people experience the ill effects of cardiovascular disorders every year; cardiovascular illnesses represent 31% passing every year comprehensively.
According to the report by TMR, The market is projected to reach to the value of US$ 25.65 bn by the end of the forecast period of 2017 to 2025 with a whopping CAGR of 8.2%.
Global Nitinol Medical Devices Market: Segmentation
Hospitals to be the Largest End-Users in the Market
In terms of product type, the global nitinol medicinal devices is further segmented into nitinol stents, guidewires, channels, crate, and catheters. Nitinol guidewires is additionally fragmented into endoscopic guidewires and orthodontic guidewires. Among all, nitinol stents section drove the general market as far as income in 2016; going ahead the portion is foreseen to additionally develop because of expanding commonness of cardiovascular ailments and fringe vascular maladies.
The development of nitinol stents fragment is direct result of high adequacy of nitinol-based coronary and fringe stents in the treatment of cardiovascular illnesses. According to Diagnostic and Interventional Cardiology, pervasiveness of percutaneous coronary mediation (PCI) methodology in the U.S. is multiple times when contrasted with coronary supply route sidestep join (CABG) methodology.
In terms of end-users, the report is segments the global nitinol therapeutic devices into emergency clinics, hospitals, ambulatory surgical centers, and others. In 2016, hospitals segment drove the global market and the pattern is foreseen to proceed over the given period of forecast. The development of medical clinics segment is ascribed to the expanding interest for minimally invasive medical procedures and expanding number of medical procedures for vascular and orthopedic illnesses. In any case, clinics and ambulatory service centers are expected to show a promising rate of growth over the course of the given period of forecast.
Global Nitinol Medical Devices Market: Regional Analysis
North America has been the chief contributor for the development of the global nitinol medical devices market in terms of revenue in 2016 because of increasing selection of innovative products and growing prevalence of cardiovascular and peripheral artery diseases. According to findings of the Houston Methodist Research Institute, peripheral arterial disorder has affected around 13% to14% of the older populace in the U.S. Further, growing prevalence of this disease, which grows with age, can also extend from 13% to 32% for an age group of people over 80 years.
Some of the key players in the global nitinol devices market include names such as B.Braun Melsungen AG, C.R. Bard Inc., Arthrex Inc., Zimmer Biomet Holdings Inc., Cook Medical, Medtronic, W.L. Gore & Associates Inc., Terumo Corporation, Abbott Laboratories, Boston Scientific Corporation, and Endosmart GmbH.
Global Nitinol Medical Devices Market: Overview
Nitinol, an alloy of nickel and titanium, is one of the most important shape memory alloys having a wide range of biomedical applications. Characterized by superelasticity (or pseudoelasticity), exceptional elastic deformation, and marked biocompatibility, nitinol has gained vast acceptance in making a variety of medical devices. The factors such as increasing number of surgical procedures worldwide, rise in prevalence of cardiovascular diseases and increasing demand for minimal invasive procedures and among others are anticipated to contribute to the significant growth of the market during the forecast period.
Global Nitinol Medical Devices Market: Research Methodology
The research is a combination of primary and secondary research, conducted for understanding and arriving at trends, used to forecast the expected revenue of drugs employed in the treatment of nitinol medical devices in the near future. Primary research formed the bulk of our research efforts with information collected from in-depth interviews and discussions with a number of key industry experts and opinion leaders. Secondary research involved study of company websites, annual reports, press releases, investor presentations, analyst presentation and various international and national databases. The report provides estimated market size in terms of US$ Mn for type of equipment, communication type, end-user, and geography for the period 2015 to 2025, considering the macro and micro environmental factors. The revenue generated from each product, application, and end-user was calculated by considering the preference for nitinol medical devices in different regions, and utilization of the nitinol based products across all the geographies.
Global Nitinol Medical Devices Market: Market Segmentation
The market report comprises an elaborated executive summary, which includes market snapshot that provides information about various segments of the market. It also provides information and data analysis of the market with respect to market segments based on product, application, and end-user, and geography. The market overview section of the report analyzes market dynamics such as drivers, restraints and opportunities that influences the nitinol medical devices market in the current and future scenario. The report also provides key industry events and Porter’s five forces analysis for the market.
Market share analysis among the market players is analyzed to signify the contribution of these players in the market in terms of percentage share. All these factors will help the market players to decide about the business strategies and plans to strengthen their positions in the global market. Based on geography, the market has been analyzed for major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The study also covers detailed country analysis contributing majorly in the nitinol medical devices market.
Global Nitinol Medical Devices Market: Competitive Landscape
The report also profiles the major players in the market and provides various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. Companies profiled in the nitinol medical devices market report are B. Braun Melsungen AG, C. R. Bard, Inc., Arthrex, Inc., Zimmer Biomet Holdings, Inc., Cook Medical, Medtronic, W. L. Gore & Associates, Inc., Terumo Corporation, Abbott Laboratories, Boston Scientific Corporation, and Endosmart GmbH among others.
The Nitinol Medical Devices Market has been segmented as follows:?