A research study
titled, “Nitinol
Medical Devices Market
by Semi-finished Raw Material and Final Medical Component - Global Industry
Analysis and Forecast to 2025” published by Crystal Market Research, states
that the Nitinol medical device market is projected to be around $24 billion by
2025.
Cardiovascular diseases are disorders caused by
inflammation of veins and arteries due to deposition of fatty acids in blood
vessels. Cardiovascular diseases are precursors to a heart stroke and can be
symptomless for longer period. A heart attack or stroke can be a warning sign
of vascular diseases. As per 2015 Heart Disease and Stroke Statistics Update of
American Heart Association, around 85.6 million Americans are living with some
type of cardiovascular disorder. More than 75% of CVD related fatalities occur
in low-income and middle-income countries. Such high prevalence of vascular
diseases across the globe is primarily attributed to large number of factors
such as tobacco consumption, unhealthy diet, obesity, lack of physical
exercise, and hypertension. Cardiovascular diseases usually arise due to
narrowing of the arteries in the body causing insufficient flow of the blood.
Stents are small expandable tubes that are used to treat
narrowed arteries in the body through percutaneous coronary intervention. The
flexibility of nitinol stents is 10 to 20 times greater than stainless steel
stents. Nitinol stents are made of nickel-titanium alloy and are self-expanding
i.e., they are compressed into a catheter and then pushed out of the catheter
where they expand against the vessel wall. Therefore, an exclusive property of
nitinol such as high resistance and super elasticity is the primary factor
driving the market growth.
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http://www.crystalmarketresearch.com/report/nitinol-medical-devices-market
Wiring segment dominated the global market in 2016, due
to large number of factors such as low
cost of material, low resistance and corrosion property, more durability and
utilization in wide range of application in medical fields such as orthopedics,
endoscopy, and custom springs. Stents segment is expected to witness highest
growth during the forecast period. This high growth rate is primarily
attributed to increasing demand for minimum invasive surgeries and growing
elderly population requiring better healthcare facilities.
U.S dominated the North American nitinol medical devices
market in 2016, due to increasing adoption of nitinol devices for product
advancements and designing simplified and time saving treatments. For instance,
in November 2016, Boston Scientific Corporation launched the Dakota nitinol
stone retrieval device with OpenSure handle, in the U.S. and Europe. This
device allows physicians to release and capture kidney stones of multiple
sizes. Emerging economies such as China and India will experience favorable
growth during the forecast period due to high patient population and increased
awareness about availability of treatment options with rising disposable income
of the people.
Some of the major players operating in the global nitinol
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.
Strategic acquisitions was the key strategy adopted by these players to sustain
in this market at global level. For instance, in August 2015, Nitinol Devices
& Components, Inc. acquired Interface Catheter Solutions for developing
fully integrated solutions to create Confluent Medical Technologies, a company
dedicated for manufacturing specialized medical devices.
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Research Report @ http://www.crystalmarketresearch.com/report-sample/HC0518
Key
Findings of the Research Study:
·
Stents segment dominated the overall market
in 2016 and is expected to grow with a double digit growth rate during forecast
period, due to growing number of vascular stenting procedures worldwide.
·
Wiring segment held the largest share of the
global market in 2106, due to low cost and better corrosion resistance
properties.
·
North America accounted for the largest share
of global nitinol devices market in 2016 and will continue to dominate the
overall market during the forecast period. This is due to high demand for
advanced medical devices and developed healthcare infrastructure with high
adoption of nitinol devices.
·
Asia-Pacific is projected to record lucrative
growth during the forecast period due to rising incidences of cardiovascular
diseases and increase in healthcare spending.
Inquire more about this report at: http://www.crystalmarketresearch.com/send-an-enquiry/HC0518
About Crystal
Market Research
Crystal Market Research is a U.S. based market research
and business intelligence company. Crystal offers one stop solution for market
research, business intelligence, and consulting services to help clients make
more informed decisions. It provides both syndicated as well as customized
research studies for its customers spread across the globe. The company offers
market intelligence reports across a broad range of industries including healthcare,
chemicals & materials, technology, automotive, and energy.
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