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 “Europe Nitinol Medical Devices Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product, Application and Country.” The Europe nitinol medical devices market is expected to reach US$ 7,053.16 million by 2028 from US$ 4,449.83 million in 2021; it is estimated to grow with a CAGR of 6.8% from 2021 to 2028. The report highlights trends prevailing in the Europe nitinol medical devices market and the factors driving market along with those that act as hindrances.
The Europe 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. 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.
The COVID-19 pandemic has shown a significant negative impact on the European health economies. Health services in European region is highly prioritized to serve for patients affected by COVID-19 and routine health care services have remained suspended. Therefore, it has affected the nitinol medical devices related market and its dependable revenue generation in the region. Lockdown by European countries has widely affected the flow of businesses across the region and outside the region. Various conferences related to industry are being conducted through webinars. Hence, it is expected that negative impact on the nitinol medical devices market is likely to continues in the following 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.
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 Europe nitinol medical devices market.
According to a new market research study of “Europe Nitinol Medical Devices Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product, Application and Country.” The Europe nitinol medical devices market is expected to reach US$ 7,053.16 million by 2028 from US$ 4,449.83 million in 2021; it is estimated to grow with a CAGR of 6.8% from 2021 to 2028. The report highlights trends prevailing in the Europe nitinol medical devices market and the factors driving market along with those that act as hindrances.
The Europe 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. 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.
The COVID-19 pandemic has shown a significant negative impact on the European health economies. Health services in European region is highly prioritized to serve for patients affected by COVID-19 and routine health care services have remained suspended. Therefore, it has affected the nitinol medical devices related market and its dependable revenue generation in the region. Lockdown by European countries has widely affected the flow of businesses across the region and outside the region. Various conferences related to industry are being conducted through webinars. Hence, it is expected that negative impact on the nitinol medical devices market is likely to continues in the following 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.
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 Europe nitinol medical devices market.
The report segments in Europe 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
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
Reasons to buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe 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 Europe 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. Europe Nitinol Medical Devices Market - Market Landscape
5. Nitinol Medical Devices Market - Key Market Dynamics
6. Nitinol Medical Devices Market -Europe Analysis
7. Nitinol Medical Devices Market Analysis - By Product
8. Nitinol Medical Devices Market Analysis - By Application
9. Nitinol Medical Devices Market -Europe Analysis
10. Impact of COVID-19 Pandemic on Europe 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 | 139 |
Published | July 2021 |
Forecast Period | 2021 - 2028 |
Estimated Market Value ( USD | $ 4449.83 Million |
Forecasted Market Value ( USD | $ 7053.16 Million |
Compound Annual Growth Rate | 6.8% |
Regions Covered | Europe |