by Nitinol medical devices are commonly used for applications such as vascular stents, orthodontic archwires, bone fracture fixation devices, and many more. Surgical stents are hollow tubes made from Nitinol that are inserted into blocked arteries to keep them open. These self-expanding Nitinol stents conform to the shape of the artery thereby restoring normal blood flow without requiring any balloon inflation. Orthodontic archwires made from Nitinol can apply light continuous forces on teeth over longer periods of time to move them into the proper alignment.
The global Nitinol Medical Devices Market is estimated to be valued at US$ 12.5 billion in 2030 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The key driver for the growth of Nitinol medical devices market is the growing demand for minimally invasive procedures. Nitinol devices have unique properties which allow them to be designed into very small and complex shapes while still being able to expand to a precise larger shape during deployment inside the body. This enables minimally invasive treatments of many cardiovascular, orthopedic, and neurovascular disorders with less tissue damage and shorter recovery times for patients. Furthermore, the shape memory and superelastic properties of Nitinol help medical devices made from it to conform precisely to anatomical structures thereby improving clinical outcomes. The advantages of Nitinol such as biocompatibility and fatigue resistance also contribute to the increased preference of Nitinol over other metals for manufacturing medical implants.
Segment Analysis
The global nitinol medical devices market is dominated by nitinol stents sub segment. Nitinol stents holds more than 35% market share as they are widely used for vascular reconstruction procedures such as treatment of abdominal aortic aneurysms. Nitinol stents are highly flexible and self-expanding. Their shape memory allows precise placement and deformation for procedures.
Key Takeaways
The Global Nitinol Medical Devices Market Size is expected to witness high growth over the forecast period 2023 to 2030. The global Nitinol Medical Devices Market is estimated to be valued at US$ 12.5 billion in 2030 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030.
Regional analysis related content comprisesRegional analysis Asia Pacific region is expected to witness fastest growth in nitinol medical devices market owing to rising geriatric population, increasing disposable income and growing medical tourism. China dominates the Asia Pacific region due to presence of key players and rising healthcare expenditure.
Key players related content comprises Key players operating in the nitinol medical devices market are Boston Scientific Corporation, Cook Group, Cordis Corporation, B. Braun Melsungen AG, Abbott, Medtronic, Terumo Corporation, Cardinal Health, Arthrex, Inc..
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
