Global Nitinol-based Medical Device Market By Product (Nitinol Stents, Nitinol Guidewires, Nitinol Filters, Nitinol Basket, Nitinol Catheters, and Others), By Application (Orthopedic, Vascular, Dental, Gastroenterology and Others) By End-user (Hospitals, Ambulatory Surgical Centers, Clinics, Others) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa)
Market Outlook:
The global nitinol-based medical device market was valued at USD 14,511.0 Million in 2019 and is projected to reach USD 30,899.4 Million by 2027, expanding at a CAGR of 10.6% during the forecast period. Nitinol is an alloy composed of titanium (Ti) and Nickel (Ni) alloys. Nitinol has high elasticity and is resistant to corrosion. Nitinol (NiTi), is a shape memory alloy that finds its application in several medical devices. A shape memory alloy can restore its original shape after deformation. Nitinol is an essential material for medical devices and instruments due to its biocompatibility and super-elasticity. Nitinol finds application in the manufacturing of catheter tubes, guidewires, stone retrieval baskets, filters, needles, dental files, arch-wires, and other surgical instruments. The market is driven by factors such as rising prevalence of cardiovascular diseases has led to rise in the adoption of the nitinol stents, which drives the demand for nitinol stents.
Several self-expanding implants, including stents and filters, use thermal shape-memory of nitinol to activate its working into the body. Some of the medical applications of nitinol include intravascular stents, radiofrequency interstitial tissue ablation device, orthodontic archwires, and inferior vena cava (IVC) filters. Nitinol is used in stents, as they have is a flexible tubular structure, which have folded small dimensions that offer movement in difficult locations in the body and expanding the vessels. Stents are used to treat weakened coronary arteries in the body. Self-expanding stents use thermal shape memory of nitinol to expand the vessels in the body. Growing prevalence of arterial diseases has led to the adoption of nitinol-based medical devices, especially for restoring predetermined shape of the arteries.
The nitinol based medical devices are used in treatment of several diseases. Nitinol is an essential material in the medical field. Some of the properties of nitinol including nitinol the shape memory alloy is one of the unique properties, which has led to the change in the shape of the nitinol. The nitinol changes its shape to its original shape owing to the elasticity of the materials. The shape change property of nitinol is higher than the plastics material. The nitinol alloys are super elastic, therefore the curves of the nitinol alloys becomes flat after the application of pressure on the strains. This process is used for the application of the stress on the nitinol wires. This process is used for the dental treatment. The design of the nitinol-based medical devices are less complex, which helps in the sterilization and cleaning of the materials.
Rise in the prevalence of chronic diseases has led to the rise in the demand for the introduction of new medical devices for treatment of diseases, which in turn, boosts the demand for the nitinol-based medical devices market. Increase in investments in R&D has led to the rise in introduction of new devices, which in turn contributes to the growth of the market. Rise in urbanization has led to the adoption of sedentary lifestyle. This has increased the prevalence of chronic diseases worldwide. According to the Center for Disease Control (CDC), 30.3 million people in the US had cardiovascular diseases in 2018. Increase in occurrence of cardiovascular diseases has propelled spending on surgical procedures, thereby driving the demand for nitinol-based medical devices.
Market Dynamics
The market is driven by factors such as increasing investment in research & development, growing awareness among consumers for healthcare, and rising awareness for healthcare by the government boost the growth of the market. Conversely, high cost of the medical devices are some of the factors which hampers the growth of the market. Rising adoption of new technology in emerging markets and technological development in manufacturing of nitinol-devices is expected to boost the growth of nitinol-based medical devices.
The nitinol titanium devices are used for the several procedures including endoscopy and it is also used for minimally-invasive surgical procedures. Introduction of new nitinol-based medical devices has led to the rise in the adoption of nitinol-based medical devices and surgical instruments. The shape memory property of nitinol is one of the unique property, which leads to the super elasticity of materials. The material is several times more elastic than stainless steel. The nitinol materials are widely used in manufacturing of medical devices, which drives the demand for the nitinol-based medical devices market. Nitinol based medical devices is one of devices which finds its application in treatment of several diseases including neurovascular diseases, peripheral diseases, cardiovascular diseases, dental treatment procedures. The nitinol-based devices also finds its application in removal of kidney stones. The rise in the minimally surgical procedures has led to the rise in the adoption of the nitinol-based medical devices, which is one of the factors, which contributes to the growth of the nitinol-based medical devices.
Segmental Outlook
On the basis of products, the market is segmented into nitinol stents, nitinol guidewires, nitinol filters, nitinol baskets, nitinol catheters and others. The nitinol stents segment accounted for 43.0% share of the market in 2019. Rising prevalence of percutaneous coronary intervention (PCI) has led to the increase in the adoption of nitinol stents, thus boosting segment growth.
In terms of application, the nitinol-based medical device market is segregated into orthopedic, vascular, dental, gastroenterology, and others. The vascular segment is anticipated to expand at a CAGR of 11.0% during the forecast period. Increase in the prevalence of vascular diseases has led to the adoption of the nitinol stents for the treatment of diseases, thereby boosting the segment.
In terms of end-users, the nitinol-based medical device market is classified as hospitals, clinics, ambulatory care centers, and others. The hospitals segment is anticipated to expand at a CAGR of 11.0% during the forecast period, as large number of treatment is taken in the hospitals by the patients, which drives the growth of the segment.
Regional Outlook
In terms of regions, the global Nitinol-based Medical Device Market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America constituted market share of 40.5% in 2020. The market in the region is projected to expand at a CAGR of 10.7% during the forecast period. Increasing adoption of new technology in healthcare industry and rise in presence of several manufacturers, is thereby boosting the growth of the nitinol-based medical devices market in North America.
Competitive Landscape
- Key players in the market include Medtronic, Boston Scientific Corporation and Abbott. These companies are considered manufacturers of nitinol-based medical devices based on their revenue, research development (R&D) activities, regional presence, and supply chain management system.
- The players are adopting key strategies such as acquisition, and geographical expansion where potential opportunity for the nitinol-based medical devices is added in the company’s capacity.
- For instance, On September 28, 2020, Abbott introduced the FreeStyle Libre 3 system, which received a CE mark for diabetes patients in Europe. The FreeStyle Libre 3 system is considered to be the world's smallest and thinnest glucose sensor.
- On September 07, 2020, BIOTRONIK introduced the new low profile PTA Balloon, Passeo‐35 Xeo PTA (percutaneous transluminal angioplasty), which makes smooth lesion crossing. The arrival of the Passeo‐35 Xeo PTA balloon catheter provides physicians better cross skills, excellent track capability, and push capacity in a wide range of sizes as compared to other available PTA balloons1.
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the Global Nitinol-based Medical Devices Market
- Historical, Current and Projected Market Size in terms of Value
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on Global Nitinol-based Medical Device Market Performance
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Nitinol-based Medical Devices Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Nitinol-based Medical Devices Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Nitinol-based Medical Devices Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Nitinol-based Medical Devices Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Nitinol-based Medical Devices Market Size & Forecast, 2017-2027
4.5.1 Nitinol-based Medical Devices Market Size and Y-o-Y Growth
4.5.2 Nitinol-based Medical Devices Market Absolute $ Opportunity
4.6 Global Nitinol-based Medical Devices Market: Impact Of Key Regulations
4.7 Nitinol Devices: Recent Advancement
4.8 Pipeline Analysis
Chapter 5 Global Nitinol-based Medical Devices Market Analysis and Forecast By Products
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities By Products
5.1.2 Basis Point Share (BPS) Analysis By Products
5.1.3 Absolute $ Opportunity Assessment By Products
5.2 Nitinol-based Medical Devices Market Size Forecast By Products
5.2.1 Nitinol Stents
5.2.2 Nitinol Guidewires
5.2.3.1 Orthodontic Guidewires
5.2.3.2 Endoscopic Guidewires
5.2.4 Nitinol Filters
5.2.5 Nitinol Baskets
5.2.6 Nitinol Catheters
5.2.7 Others
5.3 Market Attractiveness Analysis By Products
Chapter 6 Global Nitinol-based Medical Devices Market Analysis and Forecast By Application
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities By Application
6.1.2 Basis Point Share (BPS) Analysis By Application
6.1.3 Absolute $ Opportunity Assessment By Application
6.2 Nitinol-based Medical Devices Market Size Forecast By Application
6.2.1 Orthopedic
6.2.2 Vascular
6.2.3 Dental
6.2.4 Gastroenterology
6.2.5 Others
6.3 Market Attractiveness Analysis By Application
Chapter 7 Global Nitinol-based Medical Devices Market Analysis and Forecast By End-User
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities By End-User
7.1.2 Basis Point Share (BPS) Analysis By End-User
7.1.3 Absolute $ Opportunity Assessment By End-User
7.2 Nitinol-based Medical Devices Market Size Forecast By End-User
7.2.1 Hospitals
7.2.2 Clinics
7.2.3 Ambulatory Surgical Care Centers
7.2.4 Others
7.3 Market Attractiveness Analysis By End-User
Chapter 8 Global Nitinol-based Medical Devices Market Analysis and Forecast by Region
8.1 Introduction
8.1.1 Key Market Trends & Growth Opportunities by Region
8.1.2 Basis Point Share (BPS) Analysis by Region
8.1.3 Absolute $ Opportunity Assessment by Region
8.2 Nitinol-based Medical Devices Market Size Forecast by Region
8.2.1 North America
8.2.2 Europe
8.2.3 Asia Pacific
8.2.4 Latin America
8.2.5 Middle East & Africa (MEA)
8.3 Market Attractiveness Analysis by Region
Chapter 9 Coronavirus Disease (COVID-19) Impact
9.1 Introduction
9.2 Current & Future Impact Analysis
9.3 Economic Impact Analysis
9.4 Government Policies
9.5 Investment Scenario
Chapter 10 North America Nitinol-based Medical Devices Market Analysis and Forecast
10.1 Introduction
10.2 North America Nitinol-based Medical Devices Market Size Forecast by Country
10.2.1 U.S.
10.2.2 Canada
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 North America Nitinol-based Medical Devices Market Size Forecast By Products
10.6.1 Nitinol Stents
10.6.2 Nitinol Guidewires
10.6.3.1 Orthodontic Guidewires
10.6.3.2 Endoscopic Guidewires
10.6.4 Nitinol Filters
10.6.5 Nitinol Baskets
10.6.6 Nitinol Catheters
10.6.7 Others
10.7 Basis Point Share (BPS) Analysis By Products
10.8 Absolute $ Opportunity Assessment By Products
10.9 Market Attractiveness Analysis By Products
10.10 North America Nitinol-based Medical Devices Market Size Forecast By Application
10.10.1 Orthopedic
10.10.2 Vascular
10.10.3 Dental
10.10.4 Gastroenterology
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis By Application
10.12 Absolute $ Opportunity Assessment By Application
10.13 Market Attractiveness Analysis By Application
10.14 North America Nitinol-based Medical Devices Market Size Forecast By End-User
10.14.1 Hospitals
10.14.2 Clinics
10.14.3 Ambulatory Surgical Care Centers
10.14.4 Others
10.15 Basis Point Share (BPS) Analysis By End-User
10.16 Absolute $ Opportunity Assessment By End-User
10.17 Market Attractiveness Analysis By End-User
Chapter 11 Europe Nitinol-based Medical Devices Market Analysis and Forecast
11.1 Introduction
11.2 Europe Nitinol-based Medical Devices Market Size Forecast by Country
11.2.1 Germany
11.2.2 France
11.2.3 Italy
11.2.4 U.K.
11.2.5 Spain
11.2.6 Russia
11.2.7 Rest of Europe
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Europe Nitinol-based Medical Devices Market Size Forecast By Products
11.6.1 Nitinol Stents
11.6.2 Nitinol Guidewires
11.6.3
11.6.3.1 Orthodontic Guidewires
11.6.3.2 Endoscopic Guidewires
11.6.4 Nitinol Filters
11.6.5 Nitinol Baskets
11.6.6 Nitinol Catheters
11.6.7 Others
11.7 Basis Point Share (BPS) Analysis By Products
11.8 Absolute $ Opportunity Assessment By Products
11.9 Market Attractiveness Analysis By Products
11.10 Europe Nitinol-based Medical Devices Market Size Forecast By Application
11.10.1 Orthopedic
11.10.2 Vascular
11.10.3 Dental
11.10.4 Gastroenterology
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis By Application
11.12 Absolute $ Opportunity Assessment By Application
11.13 Market Attractiveness Analysis By Application
11.14 Europe Nitinol-based Medical Devices Market Size Forecast By End-User
11.14.1 Hospitals
11.14.2 Clinics
11.14.3 Ambulatory Surgical Care Centers
11.14.4 Others
11.15 Basis Point Share (BPS) Analysis By End-User
11.16 Absolute $ Opportunity Assessment By End-User
11.17 Market Attractiveness Analysis By End-User
Chapter 12 Asia Pacific Nitinol-based Medical Devices Market Analysis and Forecast
12.1 Introduction
12.2 Asia Pacific Nitinol-based Medical Devices Market Size Forecast by Country
12.2.1 China
12.2.2 Japan
12.2.3 South Korea
12.2.4 India
12.2.5 Australia
12.2.6 South East Asia (SEA)
12.2.7 Rest of Asia Pacific (APAC)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Asia Pacific Nitinol-based Medical Devices Market Size Forecast By Products
12.6.1 Nitinol Stents
12.6.2 Nitinol Guidewires
12.6.3.1 Orthodontic Guidewires
12.6.3.2 Endoscopic Guidewires
12.6.4 Nitinol Filters
12.6.5 Nitinol Baskets
12.6.6 Nitinol Catheters
12.6.7 Others
12.7 Basis Point Share (BPS) Analysis By Products
12.8 Absolute $ Opportunity Assessment By Products
12.9 Market Attractiveness Analysis By Products
12.10 Asia Pacific Nitinol-based Medical Devices Market Size Forecast By Application
12.10.1 Orthopedic
12.10.2 Vascular
12.10.3 Dental
12.10.4 Gastroenterology
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis By Application
12.12 Absolute $ Opportunity Assessment By Application
12.13 Market Attractiveness Analysis By Application
12.14 Asia Pacific Nitinol-based Medical Devices Market Size Forecast By End-User
12.14.1 Hospitals
12.14.2 Clinics
12.14.3 Ambulatory Surgical Care Centers
12.14.4 Others
12.15 Basis Point Share (BPS) Analysis By End-User
12.16 Absolute $ Opportunity Assessment By End-User
12.17 Market Attractiveness Analysis By End-User
Chapter 13 Latin America Nitinol-based Medical Devices Market Analysis and Forecast
13.1 Introduction
13.2 Latin America Nitinol-based Medical Devices Market Size Forecast by Country
13.2.1 Brazil
13.2.2 Mexico
13.2.3 Rest of Latin America (LATAM)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Latin America Nitinol-based Medical Devices Market Size Forecast By Products
13.6.1 Nitinol Stents
13.6.2 Nitinol Guidewires
13.6.3.1 Orthodontic Guidewires
13.6.3.2 Endoscopic Guidewires
13.6.4 Nitinol Filters
13.6.5 Nitinol Baskets
13.6.6 Nitinol Catheters
13.6.7 Others
13.7 Basis Point Share (BPS) Analysis By Products
13.8 Absolute $ Opportunity Assessment By Products
13.9 Market Attractiveness Analysis By Products
13.10 Latin America Nitinol-based Medical Devices Market Size Forecast By Application
13.10.1 Orthopedic
13.10.2 Vascular
13.10.3 Dental
13.10.4 Gastroenterology
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis By Application
13.12 Absolute $ Opportunity Assessment By Application
13.13 Market Attractiveness Analysis By Application
13.14 Latin America Nitinol-based Medical Devices Market Size Forecast By End-User
13.14.1 Hospitals
13.14.2 Clinics
13.14.3 Ambulatory Surgical Care Centers
13.14.4 Others
13.15 Basis Point Share (BPS) Analysis By End-User
13.16 Absolute $ Opportunity Assessment By End-User
13.17 Market Attractiveness Analysis By End-User
Chapter 14 Middle East & Africa (MEA) Nitinol-based Medical Devices Market Analysis and Forecast
14.1 Introduction
14.2 Middle East & Africa (MEA) Nitinol-based Medical Devices Market Size Forecast by Country
14.2.1 Saudi Arabia
14.2.2 South Africa
14.2.3 UAE
14.2.4 Rest of Middle East & Africa (MEA)
14.3 Basis Point Share (BPS) Analysis by Country
14.4 Absolute $ Opportunity Assessment by Country
14.5 Market Attractiveness Analysis by Country
14.6 Middle East & Africa (MEA) Nitinol-based Medical Devices Market Size Forecast By Products
14.6.1 Nitinol Stents
14.6.2 Nitinol Guidewires
14.6.3
14.6.3.1 Orthodontic Guidewires
14.6.3.2 Endoscopic Guidewires
14.6.4 Nitinol Filters
14.6.5 Nitinol Baskets
14.6.6 Nitinol Catheters
14.6.7 Others
14.7 Basis Point Share (BPS) Analysis By Products
14.8 Absolute $ Opportunity Assessment By Products
14.9 Market Attractiveness Analysis By Products
14.10 Middle East & Africa (MEA) Nitinol-based Medical Devices Market Size Forecast By Application
14.10.1 Orthopedic
14.10.2 Vascular
14.10.3 Dental
14.10.4 Gastroenterology
14.10.5 Others
14.11 Basis Point Share (BPS) Analysis By Application
14.12 Absolute $ Opportunity Assessment By Application
14.13 Market Attractiveness Analysis By Application
14.14 Middle East & Africa (MEA) Nitinol-based Medical Devices Market Size Forecast By End-User
14.14.1 Hospitals
14.14.2 Clinics
14.14.3 Ambulatory Surgical Care Centers
14.14.4 Others
14.15 Basis Point Share (BPS) Analysis By End-User
14.16 Absolute $ Opportunity Assessment By End-User
14.17 Market Attractiveness Analysis By End-User
Chapter 15 Competition Landscape
15.1 Nitinol-based Medical Devices Market: Competitive Dashboard
15.2 Global Nitinol-based Medical Devices Market: Market Share Analysis, 2019
15.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
15.3.1 Abbott
15.3.2 Arthrex, Inc.
15.3.3 B. Braun Melsungen AG
15.3.4 BD
15.3.5 BIOTRONIK
15.3.6 Boston Scientific Corporation
15.3.7 Cook
15.3.8 Diagmed Healthcare
15.3.9 ENDOSMART
15.3.10 Medtronic
15.3.11 Novatech SA
15.3.12 Olympus Corporation of the Americas
15.3.13 Terumo Medical Corporation
15.3.14 W. L. Gore & Associates, Inc.
15.3.15 Zimmer Biomet
By Product
- Nitinol Stents
- Nitinol Guidewires
- Orthodontic Guidewires
- Endoscopic Guidewires
- Nitinol Filters
- Nitinol Baskets
- Nitinol Catheters
- Others
- Orthopedic
- Vascular
- Dental
- Gastroenterology
- Others
- Hospitals
- Clinics
- Ambulatory Care Centers
- Others
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- France
- Italy
- U.K.
- Spain
- Russia
- Rest of the Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- South East Asia (SEA)
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- UAE
- Rest of MEA
- Abbott
- Arthrex, Inc.
- B. Braun Melsungen AG
- Arctiko
- BD
- BIOTRONIK
- Boston Scientific Corporation
- Cook
- Diagmed Healthcare
- ENDOSMART
- Medtronic
- Olympus Corporation of the Americas
- Terumo Medical Corporation
- W. L. Gore & Associates, Inc.
- Zimmer Biomet
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FAQ Section
Some frequently asked quetions about this report!
Additional company profiles can be provided on request.
Yes, the report covers product specific information such as nitinol stents, nitinol guidewires, etc.
According to this Growth Market Reports report, the market from nitinol-based medical device market shall probably to register a CAGR of 10.6% during forecast period 2020-2027, with an anticipated valuation of USD 30,899.4 million by the end of the 2027.
In addition to market size (in US$ Million) and Company Market Share (in % for base year 2019), other data such as pipeline analysis, recent advancements, and impact of key regulations is available in final report.
Hospitals, clinics, ambulatory surgical centers are the key end-user that are driving the nitinol-based medical devices market.
The rising prevalence of cardiovascular and peripheral arterial diseases, are expected to drive the market growth during forecast period.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
The market is expected to witness increment of over 5.1% between 2019 and 2020 owing to the positive impact of COVID-19 pandemic on the nitinol-based medical devices market. The ongoing surgeries and rising demand for the nitinol-based medical device is expected to grow the production nitinol-based medical device market.
The base year considered for the global nitinol-based medical device market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2020 to 2027.
Major Manufactures include, Abbott, Medtronic, Boston Scientific Corporation are the key players operating in the market.
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