Nitinol Medical Devices Market By Type (Nitinol Guidewires, Nitinol Catheters, Nitinol Stents, Nitinol Filters, Nitinol Basket, and Others), By Application (Vascular, Gastroenterology, Orthopedic, and Dental), Industry Trends, Estimation & Forecast, 2020-2026

Global Nitinol Medical Devices market is estimated to reach $25,747 million by 2026; growing at a CAGR of 8.4% till 2026.
  • Market Definition

    Nitinol medical devices provide superelasticity, biocompatibility, and fatigue, and kink resistance. Nitinol is used to manufacture guidewires, stone retrieval baskets, catheter tubes, stents, filters, needles, dental files, archwires, and other surgical instruments.

    Global nitinol medical devices market was valued at $XX million in 2019 with a CAGR of 8.4% from 2020 to 2026.

    Market Dynamics

    Rising prevalence of cardiovascular diseases and peripheral vascular disease (PVD), is a key driving factor of the market. According to the World Health Organization, globally, around 17.9 million lives with cardiovascular diseases each year. According to the American Heart Association, in 2018, around 30.3 million U.S. was diagnosed with heart disease. Approximately 647,000 Americans die from heart disease each year. According to the National Center for Chronic Disease Prevention, it is estimated that by 2035, more than 45% of Americans are expected to have some type of cardiovascular disease. In Europe, cardiovascular disease (CVD) causes 3.9 million deaths and over 1.8 million deaths in the European Union (EU). According to the Australian Institute of Health and Welfare (AIHW), in 2018, around 1.2 million adults aged 18 years and over had one or more heart conditions or vascular disease, including stroke in Australia. Peripheral artery disease narrows the arteries and reduces blood flow to the limbs. According to the American Heart Association, in 2018, approximately 8.5 million people age 40 and older have peripheral artery disease (PAD) in the U.S. In Canada, 800,000 people suffer from some form of peripheral artery disease (PAD). However, stringent health regulatory policies related to nitinol medical devices might hamper the market growth. The guidance of manufacturing medical devices containing nitinol has extended by the U.S. Food and Drug Administration was specific to intravascular stents and delivery systems. The new guidance has recommended tests to evaluate nitinol devices for susceptibility to corrosion, biocompatibility, and performance under certain strains, stresses, and temperatures, as well as labeling that includes language about potential allergic reactions and information on the devices are manufactured and other concerns about the material breakdown. Moreover, the rising demand for minimally invasive surgical procedures would provide lucrative opportunities for the market in the coming years.

    Market Segmentation

    The global nitinol medical devices market is mainly classified based on type and application. Type is further segmented into Nitinol Guidewires, Nitinol Catheters, Nitinol Stents, Nitinol Filters, Nitinol Basket, and Others. By application, the market is divided into Vascular, Gastroenterology, Orthopedic, and Dental.

    Nitinol Stents is expected to register a larger share in 2020, owing to the commercialization of nitinol medical devices, increasing studies related to nitinol medical devices, R&D activities, the partnership between companies to expand the nitinol medical devices market at the global scale, and increasing regulatory approval of nitinol medical devices. For instance, W. L. Gore & Associates, Inc. has received Health Canada approval for the GORE TIGRIS Vascular Stent. GORE TIGRIS Vascular Stent is a dual-component stent with a unique fluoropolymer/nitinol design. The device was designed to improve anatomical conformability with the natural movement of the knee when treating Peripheral Artery Disease (PAD). The GORE TIGRIS Vascular Stent uses a dual-component structure made from a single-wire nitinol stent with flexible and biocompatible fluoropolymer interconnections.

    Regional Analysis

    Based on geography, the global nitinol medical devices market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is further divided in the U.S., Canada, and Mexico, whereas Europe consists of the UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific. The South America region includes Brazil, Argentina, and the Rest of South America, while the Middle East & Africa is categorized into GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

    North America was dominating the global nitinol medical devices market in 2019, due to the rising prevalence of cardiovascular diseases, government funding for research and development activities of technologically advanced nitinol medical devices, and commercialization of regulatory approved nitinol medical devices, and facility expansion to develop new innovative nitinol medical devices. For instance, Norman Noble, Inc., has expanded its operation in a new 50,000 square-foot facility in Highland Heights, Ohio. The new facility will provide manufacturing for medical products, including nitinol-based structural heart implants and neurovascular devices as well as multileaf collimator (MLC) assemblies used in cancer radiation therapy equipment.

    Competitive landscape
    Key players operating in the nitinol medical devices industry include C. R. Bard, Inc., B. Braun Melsungen AG, Medtronic, Cook Medical, Abbott Laboratories, Boston Scientific Corporation, Terumo Corporation, W. L. Gore & Associates, Inc., Endosmart GmbH, Zimmer Biomet Holdings, Inc.

    The increasing investment by the companies on R&D activities on nitinol medical devices, commercialization of new nitinol medical devices, the partnership between companies to expand the nitinol medical devices business, and increasing regulatory approval of nitinol medical devices are some of the strategies adopted by the major companies. For instance, on September 12, 2019, ActivOrtho has received 510(K) clearance by the U.S. Food and Drug Administration to market the Continuous Compression Screw System. ActivOrtho nitinol screw is designed to improve healing for a broad range of indications. ActivOrtho’s Continuous Compression Screw system is indicated for use in bone reconstruction, arthrodesis, osteotomy, joint fusion, and fracture fixation of bones and bone fragments.

    Nitinol Medical Devices Market Key Segments:

    By Type
    • Nitinol Guidewires
    • Nitinol Catheters
    • Nitinol Stents
    • Nitinol Filters
    • Nitinol Basket
    • Others

    By Application
    • Vascular
    • Gastroenterology
    • Orthopedic
    • Dental

    Key Global Nitinol Medical Devices Industry Players
    • C. R. Bard, Inc.
    • B. Braun Melsungen AG
    • Medtronic
    • Cook Medical
    • Abbott Laboratories
    • Boston Scientific Corporation
    • Terumo Corporation
    • W. L. Gore & Associates, Inc.
    • Endosmart GmbH
    • Zimmer Biomet Holdings, Inc.

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  • Table of Content

    1. Market Introduction
    1.1. Executive Summary
    1.2. Market Definition
    1.3. Market Scope

    2. Research Methodology
    2.1. Primary Research
    2.2. Research Methodology
    2.3. Assumptions & Exclusions
    2.4. Secondary data sources

    3. Nitinol Medical Devices Market Overview
    3.1. Report Segmentation & Scope
    3.2. Key Market Trend
    3.3. Drivers
    3.3.1. Rising Prevalence of Cardiovascular Diseases and Peripheral Vascular Disease (PVD)
    3.4. Restraints
    3.4.1. Stringent Health Regulatory Policies Related to Nitinol Medical Devices
    3.5. Opportunity
    3.5.1. Rising Demand for Minimal Invasive Surgical Procedures
    3.6. Porter’s Five Forces Analysis
    3.6.1. Porter’s Five Forces Analysis
    3.7. Market Share Analysis

    4. Type Overview
    4.1. Introduction
    4.1.1. Market Size & Forecast
    4.2. Nitinol Guidewires
    4.2.1. Market Size & Forecast
    4.3. Nitinol Catheters
    4.3.1. Market Size & Forecast
    4.4. Nitinol Stents
    4.4.1. Market Size & Forecast
    4.5. Nitinol Filters
    4.5.1. Market Size & Forecast
    4.6. Nitinol Basket
    4.6.1. Market Size & Forecast
    4.7. Others
    4.7.1. Market Size & Forecast

    5. Application Overview
    5.1. Introduction
    5.1.1. Market Size & Forecast
    5.2. Vascular
    5.2.1. Market Size & Forecast
    5.3. Gastroenterology
    5.3.1. Market Size & Forecast
    5.4. Orthopedic
    5.4.1. Market Size & Forecast
    5.5. Dental
    5.5.1. Market Size & Forecast

    6. Nitinol Medical Devices Market Regional Overview
    6.1. Introduction
    6.1.1. Market Size & Forecast
    6.2. North America Nitinol Medical Devices Market
    6.2.1. North America Market Size & Forecast, By Country
    6.2.2. North America Market Size & Forecast, By Type
    6.2.3. North America Market Size & Forecast, By Application
    6.2.4. U.S.
    6.2.4.1. Market Size and Forecast
    6.2.5. Canada
    6.2.5.1. Market Size and Forecast
    6.2.6. Mexico
    6.2.6.1. Market Size and Forecast
    6.3. Europe Nitinol Medical Devices Market
    6.3.1. Europe Market Size & Forecast, By Country
    6.3.2. Europe Market Size & Forecast, By Type
    6.3.3. Europe Market Size & Forecast, By Application
    6.3.4. Germany
    6.3.4.1. Market Size and Forecast
    6.3.5. France
    6.3.5.1. Market Size and Forecast
    6.3.6. UK
    6.3.6.1. Market Size and Forecast
    6.3.7. Italy
    6.3.7.1. Market Size and Forecast
    6.3.8. Spain
    6.3.8.1. Market Size and Forecast
    6.3.9. Rest of Europe
    6.3.9.1. Market Size and Forecast
    6.4. Asia-Pacific Nitinol Medical Devices Market
    6.4.1. Asia-Pacific Market Size & Forecast, By Country
    6.4.2. Asia-Pacific Market Size & Forecast, By Type
    6.4.3. Asia-Pacific Market Size & Forecast, By Application
    6.4.4. Japan
    6.4.4.1. Market Size and Forecast
    6.4.5. China
    6.4.5.1. Market Size and Forecast
    6.4.6. Australia
    6.4.6.1. Market Size and Forecast
    6.4.7. India
    6.4.7.1. Market Size and Forecast
    6.4.8. South Korea
    6.4.8.1. Market Size and Forecast
    6.4.9. Rest of Asia-Pacific
    6.4.9.1. Market Size and Forecast
    6.5. South America Nitinol Medical Devices Market
    6.5.1. South America Market Size & Forecast, By Country
    6.5.2. South America Market Size & Forecast, By Type
    6.5.3. South America Market Size & Forecast, By Application
    6.5.4. Brazil
    6.5.4.1. Market Size and Forecast
    6.5.5. Argentina
    6.5.5.1. Market Size and Forecast
    6.5.6. Rest of South America
    6.5.6.1. Market Size and Forecast
    6.6. Middle East & Africa Nitinol Medical Devices Market
    6.6.1. Middle East & Africa Market Size & Forecast, By Country
    6.6.2. Middle East & Africa Market Size & Forecast, By Type
    6.6.3. Middle East & Africa Market Size & Forecast, By Application
    6.6.4. GCC Countries
    6.6.4.1. Market Size and Forecast
    6.6.5. Egypt
    6.6.5.1. Market Size and Forecast
    6.6.6. South Africa
    6.6.6.1. Market Size and Forecast
    6.6.7. Rest of Middle East & Africa
    6.6.7.1. Market Size and Forecast

    7. Company Profile
    7.1. C. R. Bard, Inc.
    7.1.1. Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
    7.1.2. C. R. Bard, Inc. Product Category, Application, and Specification
    7.1.3. C. R. Bard, Inc. Financial Performance (2016-2018)
    7.1.4. Main Business/Business Overview
    7.2. B. Braun Melsungen AG
    7.3. Medtronic
    7.4. Cook Medical
    7.5. Abbott Laboratories
    7.6. Boston Scientific Corporation
    7.7. Terumo Corporation
    7.8. W. L. Gore & Associates, Inc.
    7.9. Endosmart GmbH
    7.10. Zimmer Biomet Holdings, Inc.

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What Report Provides?

• Full in-depth analysis of the parent Industry
• Important changes in market and its dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional growth potential

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