Asia Pacific Nitinol Medical Devices Market

Market Introduction

Nitinol refers to an alloy of nickel and titanium that is rapidly becoming a metal of choice for composition of various medical devices in the healthcare industry. Nitinol widely finds its applications as self-expanding grafts, baskets, filters, graft-supporting systems, and others. Nitinol alloys are most known for their super-elasticity and thermal shape memory.

Asia Pacific Nitinol Medical Devices Strategic Insights

Strategic insights for the Asia Pacific Nitinol Medical Devices provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Asia Pacific Nitinol Medical Devices Report Scope

Asia Pacific Nitinol Medical Devices Regional Insights

The geographic scope of the Asia Pacific Nitinol Medical Devices refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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 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.

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.

Key Market Segments

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 Asia Pacific nitinol medical devices market, by application, is segmented into orthopedic, vascular, dental and gastroenterology. In 2020, the vascular segment held the largest share of the market, by application. Also, similar segment is expected to grow at the fastest rate during the coming years.

Major Sources and Companies Listed

A few of the primary and secondary sources associated with this report on the Asia Pacific nitinol medical devices market are the Association of Indian Medical Device Industry (AMED), National Medical Products Administration of China (NIMPA), National Institute of Health and Family Welfare (NIHFW) and Quality Council of India (QCI).

Reasons to buy the report

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• Strengthen your knowledge of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
• Identify the major channels driving the Asia Pacific nitinol medical devices market market, providing a clear picture of future opportunities that will help analyze, resulting in revenue expansion.
• Channelize resources by focusing on the ongoing programs undertaken by the different countries within the Asia Pacific nitinol medical devices market.

ASIA PACIFIC NITINOL MEDICAL DEVICES MARKET SEGMENTATION

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

Company Profiles

• Health Catalyst, Inc.
• Nextgen Healthcare Information System, LLC
• McKesson Corporation
• Optum, Inc.
• Oracle Corporation
• eClinicalWorks
• Allscripts Healthcare, LLC
• General Electric Company
• Cerner Corporation
• Orion Health group of companies