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Global nitinol-based medical devices market analysis identifies that the increasing application of shape metal alloys (SMAs) will be one of the major factors that will have a positive impact on the growth of the market. SMAs have high-power density, solid-state actuation, high damping capacity, durability, and fatigue resistance. The most commonly used SMA is nitinol, which is known for its superior thermomechanical and thermoelectrical properties. Nitinol SMAs have a high level of super-elasticity and are used in hip replacements. They are also used in medical implants like vascular stents, transcatheter heart valve, vascular closure implants, neurovascular closure implants, neurovascular clot pullers, devices and flow diverters, vena cava filters, orthopedic anchors, and atrial fibrillation devices. Technavio’s market research analysts predict that the nitinol-based medical devices market value will increase at a CAGR of close to 11% by 2021.
The nitinol-based medical devices market value is experiencing growth in the Americas due to the rising prevalence of cardiovascular disorders such as peripheral artery disease, carotid artery disease, and stroke. The demand for nitinol medical devices will continue to grow in the region throughout the projected period due to the increase in incomes and the rising awareness among the people. All the major vendors have their presence in countries such as the US, Mexico, Canada, and Brazil and are trying to extend their distribution channels to other countries.
The nitinol-based medical devices market is characterized by the presence of many vendors. These vendors are increasingly competing against each other based on factors such as pricing, product differentiation, and distribution partnerships. The large players in the nitinol medical devices market are focusing on increasing their global footprint. They are also adopting strategic partnerships and mergers and acquisitions to expand their geographical reach into the developing countries.
Key vendors in this market are -
Other prominent vendors in the market include Acandis, B. Braun Melsungen, Biotronik, C. R. Bard, Confluent Medical Technologies, Cook Medical, ELLA-CS, ENDOCOR, JOTEC, Lombard Medical, Novatech, Rontis, and Stryker.
Nitinol-based stents are gaining popularity because they are used in carotid artery surgery, arteries in kidney and limbs, aorta in the abdomen or chest, and close off aortic tears. The demand for cardiac stents was high during 2016 due to nitinol-based medical devices market drivers such as the increasing prevalence of cardiovascular diseases and the rising disposable income. The segment will continue to grow in the nitinol medical devices market throughout the estimated period due to the increasing number of minimally invasive (MI) surgeries.
The majority of the patient pool highly prefers hospitals over other healthcare units because they perform a large number of stents placement procedures such as the nitinol-based medical device placement. These stents are highly adopted by physicians because they reduce the patient recovery time and provide improved outcome than other invasive procedures.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Market segmentation by end-user
PART 08: Geographical segmentation
PART 09: Decision framework
PART 10: Drivers and challenges
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Key vendor analysis
PART 14: Appendix
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