Global Nitinol Medical Device Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Nitinol Medical Device Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global nitinol medical device market report has been segmented on the basis of product, application, and region.

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Global Nitinol Medical Device Market: Overview

Nitinol is a trade name originated from the elements and is composed of nickel (Ni) and titanium (Ti) It is a nickel-titanium alloy that is different from other materials due to its shape memory and super elastic characteristics. Nitinol material is most commonly known for its super elasticity and thermal shape memory. The term shape-memory describes the portent of restoring to its original shape on heating and super elasticity refers to enormous elasticity properties of the alloys. It is more than ten times elasticity than stainless steels (SS) used in medicine sector. Nitinol material is used for wide range of medical devices and medical specialties products. Physical properties of Nitinol are high strength, very low stiffness, good fatigue resistance, excellent corrosion resistance, high biocompatibility, excellent shape memory, and super elasticity.

Global Nitinol Medical Device Market: Dynamics

Increasing incidences and prevelance of chronic diseases such as cardiovascular diseases and many others is a key factor expected to drive the revenue growth of the target market over the forecast years. In addition, increasing number of elderly population, increasing number of surgical room procedure, increasing demand for minimal invasive surgical procedures, and higher health care expenditure are some of the other factors expected to drive revenue growth of the global nitinol medical device market. However, stringent health regulatory policies related to medical devices is a factor expected to hamper the growth of the target market to a certain extent.

Global Nitinol Medical Device Market: Segment Analysis

Among the product segments, nitinol stents is expected to register highest revenue share due to increasing prevalence and incidences of various types of cardiovascular diseases. Among the application segments, vascular is expected to witnessed highest revenue share over the forecoming years. This is primarily to, higher adoption rate of nitinol medical device for treatment and diagnostic procedures of vascular diseases.

Global Nitinol Medical Device Market: Trends

The major manufacturers focusing launching technologically advanced product, in order to cater the growing demand of nitinol medical device. In addition, established players are collaborating with various hospitals in order to effectively supply all the Nitinol based medical devices for various application, and resulting in increasing number of customer based of company. The aforementioned is the trend witnessed in the target market.

Global Nitinol Medical Device Market: Regional Analysis

In 2018, the markets in North America accounted for major revenue share in the target market This is primarily due to, developed medical infrastructure, government favorable funding for research and development activities of technologically advanced products, and rising prevelance of chronic diseases in countries in the region. The market in Asia Pacific is witnessed highest CAGR. This is primarily attributed, higher healthcare expenditure of general population and growing awareness among the people in countries in the Asia Pacific region.

Global Nitinol Medical Device Market Segmentation:

Segmentation by product:

Nitinol Stents
Nitinol Guidewires
Nitinol Filters
Nitinol Basket
Nitinol Catheters

 
Segmentation by application:

Orthopedic
Vascular
Dental
Gastroenterology