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 “Asia Pacific Nitinol Medical Devices Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product, Application and Country.” The Asia Pacific nitinol medical devices market is expected to reach US$ 6,042.05 million by 2028 from US$ 3,581.36 million in 2021; it is estimated to grow at a CAGR of 7.8% from 2021 to 2028. The report highlights trends prevailing in the Asia Pacific nitinol medical devices market and the factors driving market along with those that act as hindrances.
The Asia Pacific 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 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. According to a research article “Management of Patients after Laparoscopic Procedures” published in 2018, ~15 million laparoscopic procedures are performed each year across the world. Such increasing number of procedures through MIS is likely to drive the market during the forecast period. Additionally, there is a growing demand for nitinol stents across the world to treat the increasing prevalence of CVD and PVD. Hence, various researches are being conducted across the regions to develop 3D printed nitinol stents. Such innovations in the field of nitinol medical devices have leveraged more product development, which is expected to be a trend setter for companies operating in the market. Nevertheless, the growing technological advancements are likely to influence the growth of market during the forecast period.
Countries in Asia Pacific are expecting to witness huge challenge due to growing COVID-19. Considering the economic operations and geographic condition, the outbreak of disease has affected on manufacturers of medical equipment, accessories and other problems posed by shortage of healthcare infrastructure in Asia-Pacific low-income countries. Owing to which the patients post vaccination are undergoing the pending medical procedures such as the surgeries, dental treatments, and others. The healthcare systems in the region have regained its capacity since the start of the pandemic. However, the development of the advance treatments and reductions in the death rate has gained confidence in the doctors and patients. Thus, it is expected to have low negative impact on the nitinol medical devices market in the region.
The growth of the market is attributed to increasing adoption of minimally invasive surgeries (MIS) and growing technological advancements in nitinol devices across globe 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.
Cook Medical LLC, 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 Asia Pacific nitinol medical devices market.
According to a new market research study of “Asia Pacific Nitinol Medical Devices Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product, Application and Country.” The Asia Pacific nitinol medical devices market is expected to reach US$ 6,042.05 million by 2028 from US$ 3,581.36 million in 2021; it is estimated to grow at a CAGR of 7.8% from 2021 to 2028. The report highlights trends prevailing in the Asia Pacific nitinol medical devices market and the factors driving market along with those that act as hindrances.
The Asia Pacific 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 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. According to a research article “Management of Patients after Laparoscopic Procedures” published in 2018, ~15 million laparoscopic procedures are performed each year across the world. Such increasing number of procedures through MIS is likely to drive the market during the forecast period. Additionally, there is a growing demand for nitinol stents across the world to treat the increasing prevalence of CVD and PVD. Hence, various researches are being conducted across the regions to develop 3D printed nitinol stents. Such innovations in the field of nitinol medical devices have leveraged more product development, which is expected to be a trend setter for companies operating in the market. Nevertheless, the growing technological advancements are likely to influence the growth of market during the forecast period.
Countries in Asia Pacific are expecting to witness huge challenge due to growing COVID-19. Considering the economic operations and geographic condition, the outbreak of disease has affected on manufacturers of medical equipment, accessories and other problems posed by shortage of healthcare infrastructure in Asia-Pacific low-income countries. Owing to which the patients post vaccination are undergoing the pending medical procedures such as the surgeries, dental treatments, and others. The healthcare systems in the region have regained its capacity since the start of the pandemic. However, the development of the advance treatments and reductions in the death rate has gained confidence in the doctors and patients. Thus, it is expected to have low negative impact on the nitinol medical devices market in the region.
The growth of the market is attributed to increasing adoption of minimally invasive surgeries (MIS) and growing technological advancements in nitinol devices across globe 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.
Cook Medical LLC, 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 Asia Pacific nitinol medical devices market.
The report segments in Asia Pacific 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
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
Reasons to buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia Pacific nitinol medical devices market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific 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.
Table of Contents
1. Introduction
3. Research Methodology
4. Asia Pacific Nitinol Medical Devices Market - Market Landscape
5. Nitinol Medical Devices Market - Key Market Dynamics
6. Nitinol Medical Devices Market - Asia Pacific Analysis
7. Nitinol Medical Devices Market Analysis - By Product
8. Nitinol Medical Devices Market Analysis - By Application
9. Nitinol Medical Devices Market - Asia Pacific Analysis
10. Impact of COVID-19 Pandemic on Asia Pacific Nitinol Medical Devices Market
11. Industry Landscape
12. Company Profiles
13. Appendix
List of Tables
List of Figures
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Cook Medical LLC
- Abbott
- Zimmer Biomet
- B. Braun Melsungen AG
- Boston Scientific Corporation
- BD
- Arthrex, Inc
- W. L. Gore and Associates, Inc.
- Terumo Corporation
- Nordson Corporation
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 141 |
Published | July 2021 |
Forecast Period | 2021 - 2028 |
Estimated Market Value ( USD | $ 3581.36 Million |
Forecasted Market Value ( USD | $ 6042.05 Million |
Compound Annual Growth Rate | 7.8% |
Regions Covered | Asia Pacific |