Nitinol Medical Devices Market Size, Share, Growth, Trends, Sales, Revenue and Forecast 2020-2027

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According to Vision Research Reports, the global Nitinol medical devices market size surpassed at US$ 14.5 billion in 2019 and expected to reach US$ 30 billion by 2027 with a CAGR of 8.6% from 2020 to 2027.

Increased clinical application of nitinol based products in medical procedures, rise in prevalence of cardiovascular diseases, and increase in number of minimally invasive (MI) surgeries are projected to drive the global nitinol medical devices market during the forecast period.

Overview

• Nitinol is an unique class of shape-memory alloy that is made of nickel titanium. Nitinol properties include the shape-memory effect, super elasticity, and high damping capability. These technical properties of nitinol shape-memory alloy can be modified to a large extent by changes in composition, heat treatment, and mechanical working.
• Some of the major properties of nitinol include high fatigue strength, nonmagnetic, high power/weight ratio, corrosion resistance, heat resistance, and biocompatible.
• Nitinol is used in cardiovascular stents, kink resistant guide wires, minimally invasive surgical tools, and self-locking orthopedic devices. Recent advancements in nitinol includes developing new medical devices such as peripheral vascular stents, biodegradable polymer stents, and others.
• Based on product, the nitinol medical devices market is segmented into nitinol stents, nitinol guide wires, nitinol filters, nitinol basket, nitinol catheters, others (needles, staples, pins, sheath, and wires, etc.).
• North America dominated the global nitinol medical devices market in 2019 and the trend is anticipated to continue during the forecast period. Increasing adoption of technological advanced products and increasing prevalence of peripheral artery disease has contributed to dominant share of the region in global market.
• Asia Pacific is likely to be a highly lucrative market for nitinol medical devices and it is expected to expand at a high CAGR during the forecast period

Increased Clinical Application of Nitinol Based Products in Medical Procedures to Drive Market

• Usage of nitinol in the medical industry has increased due to demand for minimally invasive procedures utilizing novel instruments and implants. Medical applications range from orthodontic archwires and endoscopic instruments to endovascular stents which use nitinol as a base material for design and structure formation.
• According to the Pediatric Research, potential applications of shape-memory alloys is magnetostrictive and ferromagnetic shape memory alloys (FSMA) which are used to design pediatric cardiovascular devices. This is due to nitinol which changes shape in response to a change in temperature, and magnetostrictive or ferromagnetic properties.
• Thus, wide applications of nitinol based products in medical procedures is estimated to drive the growth of the market during the forecast period.

Nitinol Stents to Dominate Market

• In terms of product, the nitinol medical devices market is segmented into nitinol stents, nitinol guidewires, nitinol filters, nitinol basket, nitinol catheters, others (needles, staples, pins, sheath, and wires, etc.). Further nitinol guidewires is segmented into orthodontic guidewires and endoscopic guidewires.
• Nitinol stents accounted to larger market share in terms of revenue in 2019 and expected to grow in the forecast period due to increasing prevalence of cardiovascular diseases and peripheral vascular disease (PVD).
• According to the World Health Organization, cardiovascular diseases is a leading cause of deaths worldwide. More people die of cardiovascular diseases every year than any other cause. Each year, worldwide an estimated 17.9 million people dies due to cardiovascular diseases.

Vascular segment to be Highly Lucrative Segment

• By application, the nitinol medical devices market is segmented into orthopedic, vascular, dental, gastroenterology, and others.
• Vascular segment accounted for larger market share in terms of revenue in 2019, vascular segmented accounted for more than 60% of the market share in 2018 due to increasing demand and adoption of nitinol based stents for vascular surgeries.

Hospitals Segment to offer attractive opportunity

• Based on the end-user, the market has been segmented into hospitals, clinics, ambulatory surgical centers and others.
• The hospitals segment dominated the market in 2019 and is anticipated to remain dominant in the forecast period owing to the increasing demand for minimal invasive surgeries and increasing number of surgeries for vascular and orthopedic diseases.

North America to Dominate Global Market

• In terms of region, the global nitinol medical devices market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
• North America dominated the global nitinol medical devices in 20198 and is estimated to maintain its leading position by the end of 2027 with sight decline in the market share.
• Increased adoption of technological advanced products in the region, high prevalence of cardiovascular disorders, rapidly aging population, and well established healthcare infrastructure etc. factors have contributed to dominant share of the region in global market.
• The market in the Asia Pacific region is projected to expand at exponential growth rate during the forecast period. The highest growth rate in the Asia Pacific region is attributed to increased market penetration of global players in highly populous countries such as China, India, Taiwan, rapidly improving healthcare industry in the region, and comparatively large patient pool with cardiovascular and gastrointestinal disorders.

Competitive Landscape

• The global nitinol medical devices market is fragmented in terms of number of players. Key players operating in the global nitinol medical devices market includes, include 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.

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Market Segmentation:

By Product

• • Nitinol Stents
  • Nitinol Guide wires
    • Orthodontic Guidewires
    • Endoscopic Guidewire
  • Nitinol Filters
  • Nitinol Baskets
  • Nitinol Catheters
  • Others

By Application

• • Orthopedic
  • Vascular
  • Dental
  • Gastroenterology
  • Others

By End-user

• • Hospitals
  • Clinics
  • Ambulatory Surgery Centers
  • Others

By Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC Countries
  • South Africa
  • Rest of Middle East & Africa

Scope of Report

VRR’s report on the global nitinol medical devices market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators of the market during the forecast period from 2019 to 2027. The report provides revenue of the global nitinol medical devices market for the period 2017–2027, considering 2020 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global nitinol medical devices market during the forecast period.

The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global nitinol medical devices market.

Secondary research also included Internet sources, statistical data from government agencies, websites, company presentations, sales data, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomenon in the global nitinol medical devices market.

The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global nitinol medical devices market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global nitinol medical devices market.

The report delves into the competitive landscape of the global nitinol medical devices market. Key players operating in the global nitinol medical devices market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global nitinol medical devices market that have been profiled in this report.

Key Questions Answered in Global Nitinol Medical Devices Market Report

• What is the scope of growth of product companies in the global nitinol medical devices market?
• What will be the Y-o-Y growth of the global nitinol medical devices market between 2019 and 2027?
• What is the influence of changing trends in technologies on the global nitinol medical devices market?
• Will North America continue to be the most profitable market for nitinol medical devices providers?
• Which factors are anticipated to hamper the growth of the global nitinol medical devices market during the forecast period?
• Which are the leading companies in the global nitinol medical devices market?

Research Methodology

A unique research methodology has been utilized by VRR to conduct comprehensive research on the growth of the global nitinol medical devices market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.

Secondary methods referred to by analysts during the production of the global nitinol medical devices market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of VRR’s study on the nitinol medical devices market as primary methods.

These primary and secondary methods have provided exclusive information during interviews, which serves as a validation from the nitinol medical device market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global nitinol medical devices market with accuracy. The study also uses the top-down approach to assess the revenues for each segment and the bottom-up approach to counter-validate them. This has helped in reaching VRR’s estimates on future prospects of the global nitinol medical devices market more reliably and accurately.

Table of Contents

1. Preface

1.1. Market Definition and Scope

1.2. Market Segmentation

1.3. Key Research Objectives

1.4. Research Highlights

2. Assumptions and Research Methodology

3. Executive Summary

4. Market Overview

4.1. Introduction

4.2. Key Industry Developments

5. Market Dynamics

5.1. Drivers

5.2. Restraints

5.3. Opportunities

5.4. Trends

5.5. Global Nitinol Medical Devices Market Size (US$ Mn) Forecast, 2017–2027

5.6. Global Nitinol Medical Devices Market Outlook

5.7. PESTLE Analysis

5.8. Nitinol Devices: Recent Advancement

5.9. Pipeline Analysis

6. Global Nitinol Medical Devices Market Analysis and Forecast, by Product

6.1. Key Findings

6.2. Introduction

6.3. Market size (US$ Mn) Forecast, by Product, 2019-2027

6.3.1. Nitinol Stents

6.3.2. Nitinol Guidewires

6.3.2.1. Orthodontic Guidewires

6.3.2.2. Endoscopic Guidewires

6.3.3. Nitinol Filters

6.3.4. Nitinol Baskets

6.3.5. Nitinol Catheters

6.3.6. Others

6.4. Market Attractiveness Analysis, by Product

6.5. Key Trends

7. Global Nitinol Medical Devices Market Analysis and Forecasts, by Application

7.1. Key Findings

7.2. Introduction

7.3. Market size (US$ Mn) Forecast, by Application, 2019-2027

7.3.1. Orthopaedic

7.3.2. Vascular

7.3.3. Dental

7.3.4. Gastroenterology

7.3.5. Others

7.4. Market Attractiveness Analysis, by Application

8. Global Nitinol Medical Devices Market Analysis and Forecasts, by End-user

8.1. Key Findings

8.2. Introduction

8.3. Market size (US$ Mn) Forecast by End-user, 2019-2027

8.3.1. Hospitals

8.3.2. Clinics

8.3.3. Ambulatory Surgery Centers

8.3.4. Others

8.4. Market Attractiveness Analysis, by End-user

9. Global Nitinol Medical Devices market Analysis and Forecasts, by Region

9.1. Key Findings

9.2. Global Market Scenario

9.3. Market Value (US$ Mn) Forecast, by Region, 2019-2027

9.3.1. North America

9.3.2. Europe

9.3.3. Asia Pacific

9.3.4. Latin America

9.3.5. Middle East & Africa

9.4. Market Attractiveness Analysis, by Region

9.5. Key Trends, By Region

10. North America Nitinol Medical Devices market Analysis and Forecast

10.1. Key Findings

10.2. Market size (US$ Mn) Forecast, by Country, 2019-2027

10.2.1. U.S.

10.2.2. Canada

10.3. Market size (US$ Mn) Forecast, by Product, 2019-2027

10.3.1. Nitinol Stents

10.3.2. Nitinol Guidewires

10.3.2.1. Orthodontic Guidewires

10.3.2.2. Endoscopic Guidewires

10.3.3. Nitinol Filters

10.3.4. Nitinol Baskets

10.3.5. Nitinol Catheters

10.3.6. Others

10.4. Market size (US$ Mn) Forecast, by Application, 2019-2027

10.4.1. Orthopaedic

10.4.2. Vascular

10.4.3. Dental

10.4.4. Gastroenterology

10.4.5. Others

10.5. Market size (US$ Mn) Forecast by End-user, 2019-2027

10.5.1. Hospitals

10.5.2. Clinics

10.5.3. Ambulatory Surgery Centers

10.5.4. Others

10.6. Market Attractiveness Analysis

10.6.1. By Country

10.6.2. By Product

10.6.3. By Application

10.6.4. By End-user

11. Europe Nitinol Medical Devices market Analysis and Forecast

11.1. Key Findings

11.2. Market size (US$ Mn) Forecast By Country/Sub-region, 2019-2027

11.2.1. Germany

11.2.2. U.K.

11.2.3. France

11.2.4. Italy

11.2.5. Spain

11.2.6. Rest of Europe

11.3. Market size (US$ Mn) Forecast, by Product, 2019-2027

11.3.1. Nitinol Stents

11.3.2. Nitinol Guidewires

11.3.2.1. Orthodontic Guidewires

11.3.2.2. Endoscopic Guidewires

11.3.3. Nitinol Filters

11.3.4. Nitinol Baskets

11.3.5. Nitinol Catheters

11.3.6. Others

11.4. Market size (US$ Mn) Forecast, by Application, 2019-2027

11.4.1. Orthopaedic

11.4.2. Vascular

11.4.3. Dental

11.4.4. Gastroenterology

11.4.5. Others

11.5. Market size (US$ Mn) Forecast by End-user, 2019-2027

11.5.1. Hospitals

11.5.2. Clinics

11.5.3. Ambulatory Surgery Centers

11.5.4. Others

11.6. Market Attractiveness Analysis

11.6.1. By Country/Sub-region

11.6.2. By Product

11.6.3. By Application

11.6.4. By End-user

12. Asia Pacific Nitinol Medical Devices market Analysis and Forecast

12.1. Key Findings / Developments

12.2. Market Overview

12.3. Market size (US$ Mn) Forecast, by Country, 2019-2027

12.3.1. China

12.3.2. India

12.3.3. Japan

12.3.4. Australia & New Zealand

12.3.5. Rest of Asia Pacific

12.4. Market size (US$ Mn) Forecast, by Product, 2019-2027

12.4.1. Nitinol Stents

12.4.2. Nitinol Guidewires

12.4.2.1. Orthodontic Guidewires

12.4.2.2. Endoscopic Guidewires

12.4.3. Nitinol Filters

12.4.4. Nitinol Baskets

12.4.5. Nitinol Catheters

12.4.6. Others

12.5. Market size (US$ Mn) Forecast, by Application, 2019-2027

12.5.1. Orthopaedic

12.5.2. Vascular

12.5.3. Dental

12.5.4. Gastroenterology

12.5.5. Others

12.6. Market size (US$ Mn) Forecast by End-user, 2019-2027

12.6.1. Hospitals

12.6.2. Clinics

12.6.3. Ambulatory Surgery Centers

12.6.4. Others

12.7. Market Attractiveness Analysis

12.7.1. By Country/Sub-region

12.7.2. By Product

12.7.3. By Application

12.7.4. By End-user

13. Latin America Nitinol Medical Devices market Analysis and Forecast

13.1. Key Findings / Developments

13.2. Market Overview

13.3. Market Size (US$ Mn) Forecast, by Country, 2019-2027

13.3.1. Brazil

13.3.2. Mexico

13.3.3. Rest of Latin America

13.4. Market size (US$ Mn) Forecast, by Product, 2019-2027

13.4.1. Nitinol Stents

13.4.2. Nitinol Guidewires

13.4.2.1. Orthodontic Guidewires

13.4.2.2. Endoscopic Guidewires

13.4.3. Nitinol Filters

13.4.4. Nitinol Baskets

13.4.5. Nitinol Catheters

13.4.6. Others

13.5. Market size (US$ Mn) Forecast, by Application, 2019-2027

13.5.1. Orthopaedic

13.5.2. Vascular

13.5.3. Dental

13.5.4. Gastroenterology

13.5.5. Others

13.6. Market size (US$ Mn) Forecast by End-user, 2019-2027

13.6.1. Hospitals

13.6.2. Clinics

13.6.3. Ambulatory Surgery Centers

13.6.4. Others

13.7. Market Attractiveness Analysis

13.7.1. By Country/Sub-region

13.7.2. By Product

13.7.3. By Application

13.7.4. By End-user

14. Middle East and Africa Nitinol Medical Devices market Analysis and Forecast

14.1. Key Findings / Developments

14.2. Market Overview

14.3. Market size (US$ Mn) Forecast, by Country, 2019-2027

14.3.1. GCC Countries

14.3.2. South Africa

14.3.3. Rest of Middle East and Africa

14.4. Market size (US$ Mn) Forecast, by Product, 2019-2027

14.4.1. Nitinol Stents

14.4.2. Nitinol Guidewires

14.4.2.1. Orthodontic Guidewires

14.4.2.2. Endoscopic Guidewires

14.4.3. Nitinol Filters

14.4.4. Nitinol Baskets

14.4.5. Nitinol Catheters

14.4.6. Others

14.5. Market size (US$ Mn) Forecast, by Application, 2019-2027

14.5.1. Orthopaedic

14.5.2. Vascular

14.5.3. Dental

14.5.4. Gastroenterology

14.5.5. Others

14.6. Market size (US$ Mn) Forecast by End-user, 2019-2027

14.6.1. Hospitals

14.6.2. Clinics

14.6.3. Ambulatory Surgery Centers

14.6.4. Others

14.7. Market Attractiveness Analysis

14.7.1. By Country/Sub-region

14.7.2. By Product

14.7.3. By Application

14.7.4. By End-user

15. Competition Landscape

15.1. Global Nitinol Medical Devices Market Share, by Company, 2018

15.2. Market Player – Competition Matrix (By Tier and Size of companies)

15.3. Company Profiles (Details – Overview, Financials, Recent Developments, Strategy)

15.3.1. B. Braun Melsungen AG

15.3.1.1. Company Overview (HQ, Business Segments, Employee Strength)

15.3.1.2. Product Portfolio

15.3.1.3. SWOT Analysis

15.3.1.4. Strategic Overview

15.3.2. C. R. Bard, Inc.

15.3.2.1. Company Overview (HQ, Business Segments, Employee Strength)

15.3.2.2. Product Portfolio

15.3.2.3. SWOT Analysis

15.3.2.4. Strategic Overview

15.3.3. Arthrex, Inc.

15.3.3.1. Company Overview (HQ, Business Segments, Employee Strength)

15.3.3.2. Product Portfolio

15.3.3.3. SWOT Analysis

15.3.3.4. Financial Overview

15.3.3.5. Strategic Overview

15.3.4. Zimmer Biomet Holdings, Inc.

15.3.4.1. Company Overview (HQ, Business Segments, Employee Strength)

15.3.4.2. Product Portfolio

15.3.4.3. SWOT Analysis

15.3.4.4. Financial Overview

15.3.4.5. Strategic Overview

15.3.5. Cook Medical

15.3.5.1. Company Overview (HQ, Business Segments, Employee Strength)

15.3.5.2. Product Portfolio

15.3.5.3. SWOT Analysis

15.3.5.4. Financial Overview

15.3.5.5. Strategic Overview

15.3.6. Medtronic

15.3.6.1. Company Overview (HQ, Business Segments, Employee Strength)

15.3.6.2. Product Portfolio

15.3.6.3. SWOT Analysis

15.3.6.4. Financial Overview

15.3.6.1.5. Strategic Overview

15.3.7. W. L. Gore & Associates, Inc.

15.3.7.1. Company Overview (HQ, Business Segments, Employee Strength)

15.3.7.2. Product Portfolio

15.3.7.3. SWOT Analysis

15.3.7.4. Financial Overview

15.3.7.5. Strategic Overview

15.3.8. Terumo Corporation

15.3.8.1. Company Overview (HQ, Business Segments, Employee Strength)

15.3.8.2. Product Portfolio

15.3.8.3. SWOT Analysis

15.3.8.4. Financial Overview

15.3.8.5. Strategic Overview

15.3.9. Abbott Laboratories

15.3.9.1. Company Overview (HQ, Business Segments, Employee Strength)

15.3.9.2. Product Portfolio

15.3.9.3. SWOT Analysis

15.3.9.4. Financial Overview

15.3.9.5. Strategic Overview

15.3.10. Boston Scientific Corporation

15.3.10.1. Company Overview (HQ, Business Segments, Employee Strength)

15.3.10.2. Product Portfolio

15.3.10.3. SWOT Analysis

15.3.10.4. Financial Overview

15.3.10.5. Strategic Overview

15.3.11. Endosmart GmbH

15.3.11.1. Company Overview (HQ, Business Segments, Employee Strength)

15.3.11.2. Product Portfolio

15.3.11.3. SWOT Analysis

15.3.11.4. Financial Overview

15.3.11.5. Strategic Overview

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