Middle East and Africa Nitinol Medical Devices Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product and Application

The nitinol stents segment by product is estimated to lead the market growth during the forecast period.

According to a new market research study of “Middle East and Africa Nitinol Medical Devices Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product, Application and Country.” The Middle East and Africa nitinol medical devices market is expected to reach US$ 858.08 million in 2028 from US$ 619.85 million in 2021; it is estimated to grow with a CAGR of 4.8% from 2021 to 2028. The report highlights trends prevailing in the Middle East and Africa nitinol medical devices market and the factors driving market along with those that act as hindrances.

The Middle East and Africa nitinol medical devices market, by product, is segmented into nitinol stents, nitinol guidewires, nitinol filters, nitinol baskets, nitinol catheters and others. In 2020, the nitinol stents segment held the largest share of the market, by product. And the same segment is estimated to grow at significant CAGR during the forecast period.

The Middle East and Africa nitinol medical devices market is expected to reach US$ 858.08 million in 2028 from US$ 619.85 million in 2021; it is estimated to grow with a CAGR of 4.8% from 2021 to 2028. The growth of the market is attributed to increasing adoption of minimally invasive surgeries (MIS) and formation of regulatory guidelines on nitinol device biocompatibility by regulatory bodies are boosting the market. However, the manufacturing challenges including joining and assembly, plating and coating, machining, and stamping, and forming are likely to hinder the market’s growth.

The use of minimally invasive surgeries has evolved the paradigm of the surgery in the medical science. The advantages of MIS such as smaller incisions, reduced pain, lower complications, minimal blood loss and shorter hospital stays have dramatically influenced the adoption of MIS. The increasing adoption of MIS is majorly backed by advantages of the MIS has equally contributed to leveraging the growth of nitinol medical devices specifically for robotic surgeries and laparoscopic procedures. Such increasing number of procedures through MIS is likely to drive the market during the forecast period. However, owing to the several manufacturing challenges, regulatory bodies are taking efforts to enhance the biocompatibility and stability of nitinol devices for broader medical applications. Various evaluations are performed to build a uniform manufacturing guideline for nitinol-based products. In October 2020, regulatory bodies such as Food and Drug Administration (FDA) released new guidelines related to premarket submissions on nitinol device biocompatibility with skin and their technicalities. Thus, the release of guidelines is expected to enhance the use of nitinol for developing medical devices for broader applications, thereby providing vital growth opportunities to the manufacturers during the forecast period.

Countries in Middle East have also widely affected the socio-economic condition by the COVID-19 pandemic. The lockdown has widely affected the non-emergency medical services in the region, which has somehow affected the medical devices. Countries like Saudi Arabia and UAE are emerging as healthcare destinations in the regions. However, they are dependent on the developed countries for the resources. The availability of the vaccines and other healthcare facilities in the developing countries in the region is expected to provide positive scope for the market for next few years.

The growth of the market is attributed to increasing adoption of minimally invasive surgeries (MIS) and formation of regulatory guidelines on nitinol device biocompatibility by regulatory bodies are boosting the market. However, the manufacturing challenges including joining and assembly, plating and coating, machining, and stamping, and forming are likely to hinder the market’s growth.

Abbott, Zimmer Biomet, B. Braun Melsungen AG, Boston Scientific Corporation, BD, Arthrex, Inc, W. L. Gore and Associates, Inc. Terumo Corporation, NORDSON CORPORATION are among the leading companies operating in the Middle East and Africa nitinol medical devices market.

The report segments in Middle East and Africa Nitinol Medical Devices Market as follows:

By Product

• Nitinol Stents
• Nitinol Guidewires
• Orthodontic Guidewires
• Endoscopic Guidewires
• Nitinol Filters
• Nitinol Basket
• Nitinol Catheters
• Others

By Application

• Orthopedic
• Vascular
• Dental
• Gastroenterology

By Country

• UAE
• Saudi Arabia
• South Africa
• Rest of Middle East and Africa

Reasons to buy:

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Middle East and Africa nitinol medical devices market
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• The key findings and recommendations highlight crucial progressive industry trends in the Middle East and Africa nitinol medical devices market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth market trends and outlook coupled with the factors driving the market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.