Nitinol Medical Devices Market Analysis, Trends Industry Forecast to 2025

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.

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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.

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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.

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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.