Transparency Market Research as announced the publication of a new research report that examines the global nitinol medical devices market in great depth. The research report, titled “Nitinol Medical Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,” offers an evaluation of the strengths, weaknesses, opportunities, and threats in the market with the help of a SWOT analysis and assesses the threat of new entrants, threat of substitute products or services, bargaining power of customers (buyers), bargaining power of suppliers, and intensity of competitive rivalry with Porter’s five forces analysis.
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According to the research report, the global nitinol medical devices market for semi-finished goods was worth US$1.5 bn in 2012 and is expected to register a remarkable compounded annual growth rate of 7.30% to reach a valuation of US$2.5 bn by 2019. On the other hand, the global nitinol medical devices market for final medical components was worth US$8.2 bn in 2012 and is expected to register a CAGR of 11.10% to reach US$17.3 bn by the end of 2019.
In the past few years, the number of vascular disorders, such as carotid artery disease, venous disease, renal artery disease, abdominal aortic aneurysm, peripheral artery disease, and stroke have witnessed an unfortunate rise. The underlying current for this trend is the growing number of obese people and the subsequent demand for invasive surgery techniques, which has led to the growth of the global nitinol medical devices market. As this situation continues, the growth in the demand for nitinol medical equipment will also continue. Additionally, acceptance of nitinol medical equipment and a rise in the manufacture of various medical devices that use nitinol is also expected to propel the growth of this market in the near future.
The global nitinol medical devices market is segmented on the basis of type, components, and geography. The types of nitinol medical devices in the market are: semi-finished raw material and final medical components. The semi-finished raw material segment is further sub-segmented into tubes, wiring, and others such as ribbons and sheets. The final medical components segment is further divided into stents, guidewires, and others. Geographically, this market is segmented into North America, Europe, Asia Pacific, and Rest of the World.
In terms of regions, North America dominated the nitinol medical devices market in 2012. However, analysts predict that the Asia Pacific market for nitinol medical devices will grow at a rapid pace in the next three years. Furthermore, amongst the types of devices, the wiring sub-segment is expected have a CAGR of 8.2% from 2013 to 2019, while the stents sub-segment is estimated to leap forward at a pace of 13.20% CAGR in the same time frame.
Some of the important players profiled in the global nitinol medical devices market are Nitinol Devices & Components, Inc., Custom Wire Technologies, Inc., Boston Scientific Corporation, Abbott Laboratories, Inc., Cook Medical, Inc., and C.R. Bard, Inc. The research report also explains the competitive landscape in complete detail and shares important statistics pertaining to the financial overview, research and development activities, investment outlook, strategic mergers and acquisitions, and business and marketing strategies for the near future.
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