Nitinol-based medical device is a medical device which is a combination of nickel and titanium alloy. This alloy is known for its shape memory and superelastic properties. It is widely used in medical applications such as orthopedic implants, cardiovascular stents, vascular stents, endoscopic tools, and orthodontic devices.
The usage of Nitinol-based medical device is to provide support to bones, muscles and ligaments. It is also used as a scaffold material to provide tissue repair and stabilization. It is also used as an implantable device for biomedical applications.
The global overview of Nitinol-based medical device market is that it is expected to grow at a high CAGR in the upcoming years due to the increasing demand for usages in the medical sector. The rising prevalence of chronic diseases and technological advancements in the medical field is expected to drive the market growth. Moreover, the increasing research and development activities and the growing demand for implantable medical devices are some of the factors driving the market.
The global Nitinol-based Medical Device market was valued at US$ 20210 million in 2022 and is anticipated to reach US$ 40200 million by 2029, witnessing a CAGR of 10.2% during the forecast period 2023-2029. The influence of COVID-19 and the Netherlands-Ukraine War were considered while estimating market sizes.
A detailed market research report on Global Nitinol-based Medical Device Market available at: https://www.themarketreports.com/report/global-nitinol-based-medical-device-market-research-report
This report aims to provide a comprehensive presentation of the global market for Nitinol-based Medical Device, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Nitinol-based Medical Device.
Global Nitinol-based Medical Device key players include Abbott, Medtronic, Boston Scientific, TERUMO, BD, etc. Global top five manufacturers hold a share over 85%.
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