Function and Performance of Nitinol Medical Devices Market in Healthcare Industry
by Ranu Kurmi tmrTransparency Market Research as
announced the publication of a new research report that examines the global
nitinol medical devices market in great depth. The research report, titled “Nitinol
Medical Devices Market - Global Industry Analysis, Size, Share, Growth,
Trends and Forecast, 2013 - 2019,” offers an evaluation of the strengths,
weaknesses, opportunities, and threats in the market with the help of a SWOT
analysis and assesses the threat of new entrants, threat of substitute products
or services, bargaining power of customers (buyers), bargaining power of
suppliers, and intensity of competitive rivalry with Porter’s five forces
analysis.
According to the research report,
the global nitinol medical devices market for semi-finished goods was worth
US$1.5 bn in 2012 and is expected to register a remarkable compounded annual
growth rate of 7.30% to reach a valuation of US$2.5 bn by 2019. On the other
hand, the global nitinol medical devices market for final medical components
was worth US$8.2 bn in 2012 and is expected to register a CAGR of 11.10% to
reach US$17.3 bn by the end of 2019.
In the past few years, the number
of vascular disorders, such as carotid artery disease, venous disease, renal
artery disease, abdominal aortic aneurysm, peripheral artery disease, and
stroke have witnessed an unfortunate rise. The underlying current for this
trend is the growing number of obese people and the subsequent demand for
invasive surgery techniques, which has led to the growth of the global nitinol
medical devices market. As this situation continues, the growth in the demand
for nitinol medical equipment will also continue. Additionally, acceptance of
nitinol medical equipment and a rise in the manufacture of various medical
devices that use nitinol is also expected to propel the growth of this market
in the near future.
The global nitinol medical
devices market is segmented on the basis of type, components, and geography.
The types of nitinol medical devices in the market are: semi-finished raw
material and final medical components. The semi-finished raw material segment
is further sub-segmented into tubes, wiring, and others such as ribbons and
sheets. The final medical components segment is further divided into stents,
guidewires, and others. Geographically, this market is segmented into North
America, Europe, Asia Pacific, and Rest of the World.
In terms of regions, North America dominated the nitinol medical devices market in 2012. However, analysts predict that the Asia Pacific market for nitinol medical devices will grow at a rapid pace in the next three years. Furthermore, amongst the types of devices, the wiring sub-segment is expected have a CAGR of 8.2% from 2013 to 2019, while the stents sub-segment is estimated to leap forward at a pace of 13.20% CAGR in the same time frame.
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Some
of the important players profiled in the global nitinol medical 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. The research report also explains the competitive landscape
in complete detail and shares important statistics pertaining to the financial
overview, research and development activities, investment outlook, strategic
mergers and acquisitions, and business and marketing strategies for the near
future.
The
global nitinol medical devices market is segmented in the following ways:
Nitinol
Medical Devices Market, by Types
·
Semi-finished Raw Material
o Tubes
o Wiring
o Others (Ribbons &
Sheets)
·
Final Medical Components
o Stents
o Guidewires
o Others
Nitinol
Medical Devices Market, by Geography
·
North
America
·
Europe
·
Asia
Pacific
·
Rest
of the World (RoW)
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