North America Nitinol Medical Devices Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product and Application

North America Nitinol Medical Devices Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product and Application

  • July 2021 •
  • 130 pages •
  • Report ID: 6134745 •
  • Format: PDF
The North America nitinol medical devices market is expected to reach US$ 10,021.26 million by 2028 from US$ 7,255.12 million by 2021; it is estimated to grow with a CAGR of 7.5% from 2021 to 2028. The growth of the market is attributed to increasing adoption of minimally invasive surgeries (MIS) and growing prevalence of chronic diseases 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.Also, growing prevalence of chronic diseases such as cardiovascular diseases (CVD) and peripheral vascular diseases (PVD), have widely demanded the advanced treatments with efficient and effective products.

Therefore, considering the growing prevalence rate of chronic diseases it is expected that the demand for nitinol medical devices will be increasing, thereby leading to the market growth during the forecast period.
The countries in the North America have started vaccinating its population on a larger scale.This is expected to lower the intensity of COVID-19 pandemic in the region.

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.

Also, 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 positive impact on the nitinol medical devices market in the region.
The North America 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 North America 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.
A few of the primary and secondary sources associated with this report on the North America nitinol medical devices market are the American Society for Testing and Materials (ASTM), Centers for Disease Control and Prevention (CDC), and Ministry of Health and Family Welfare (MoHFW).
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