Self-expanding Nitinol Stent: Innovative Technology for Peripheral Vascular Disease
- Nitinol stent is a small tube of mesh made of nitinol material, which is used for the treatment of narrowed and weakened arteries or veins
- It is implanted in the blood vessels through a procedure called percutaneous coronary intervention (PCI), also known as coronary angioplasty
- Self-expanding Nitinol stents have revolutionized the treatment of peripheral vascular disease. Self-expandable highly flexible closed-cell stent is mounted on a flexible delivery wire and is delivered through a standard microcatheter.
- Tantalum markers are attached to each side of the stent in order to facilitate visualization. The stent is partially retractable, which allows repositioning. These stents are available in different sizes and of different diameter.
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Key Drivers and Restraints of Global Self-expanding Nitinol Stent Market
- Rising prevalence of peripheral vascular disease across the world is a major driving force for the rise in regulatory approval of self-expanding nitinol stents
- For instance, as per the Elsevier Inc., around 236·6 million people aged 25 years and older were living with peripheral artery disease worldwide in 2015
- Emergence of novel class of metallic alloys and technological advancements in the electroplating of metal alloys are key factors boosting the global self-expanding nitinol stent market
- Moreover, regulatory approval of innovative self-expanding stent systems in different regions is also fuelling the self-expanding nitinol stent market
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Low awareness and adoption of self-expanding Nitinol stent hamper market
- Low awareness regarding novel alloys, such as nitinol, in developing countries is expected to restrain the self-expanding nitinol stent market
- Stringent regulatory norms in terms of specifications and risks associated with use of stent are also hampering the global self-expanding nitinol stent market
Laser-cut self-expanding nitinol stent is dominant product type segment
- Based on product type, the global self-expanding nitinol stent market can be divided into laser-cut self-expanding nitinol stent, braided self-expanding nitinol stent, and coil self-expanding nitinol stent
- Laser-cut self-expanding nitinol stent dominated the global market due to higher quality product and material savings due to laser-cutting technique
Cardiovascular system is highly lucrative application segment
- In terms of application, the global self-expanding nitinol stent market can be segmented into cardiovascular system, urinary system, digestive system, and others
- The cardiovascular system segment accounted for a major share of the market in 2019. It is expected to a highly promising segment during the forecast period.
- Increase in prevalence of cardiovascular diseases, rise in adoption of metal stents in cardiovascular diseases, and development of novel products are major factors driving the cardiovascular system segment of the market
Hospitals is the dominant end-user segment
- Based on end-user, the global self-expanding nitinol stent market can be classified into hospitals, ambulatory surgery centers, clinics, and others
- The hospitals segment dominated the global self-expanding nitinol stent market due to a rise in number of hospital admissions, favorable reimbursement scenario, and availability of advanced products at hospitals
North America to Lead the Global Market for Self-expanding Nitinol Stent
- In terms of region, the global self-expanding nitinol stent market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the global self-expanding nitinol stent market in 2019 due to rising prevalence of peripheral vascular diseases, favorable reimbursement scenario, and recent U.S. FDA approvals for self-expanding nitinol stent
- For instance, as per Centers for Disease Control and Prevention (CDC), around 4.5 million adults in the U.S. were diagnosed with liver diseases in 2018
- Asia Pacific is projected to be a highly lucrative market during the forecast period owing to an increase in the geriatric population, which is more prone to peripheral artery diseases, rise in awareness about advanced medical devices, and improvement in healthcare infrastructure in the region
Key Manufacturers Operating in Global Market
Key manufacturers operating in the global market are:
- Boston Scientific Corporation
- B.Braun Melsungen AG
- Becton, Dickinson, and Company (BD)
- Cardinal Health
- Stryker Corporation
- Merit Medical Systems
- Cook Group Incorporated
- Terumo Medical Corporation
- Vascular Concepts
Global Self-expanding Nitinol Stent Market: Research Scope
Global Self-expanding Nitinol Stent Market, by Product Type
- Laser-cut Self-expanding Nitinol Stent
- Braided Self-expanding Nitinol Stent
- Coil Self-expanding Nitinol Stent
Global Self-expanding Nitinol Stent Market, by Application
- Cardiovascular System
- Digestive System
- Urinary System
Global Self-expanding Nitinol Stent Market, by End-user
- Ambulatory Surgery Centers
Global Self-expanding Nitinol Stent Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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
- 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.