Nitinol Medical Devices Market, By Therapy (Stents, Stone Retrieval Basket, Guidewires, and Other Product Types), By Application (Cardiovascular, Urology, Dentistry, and Other Applications), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Jun 2024

Code : CMI5400

Pages :169

Formats :

Excel and PDF

Industry : Medical Devices

Market Challenges: Availability of alternative metals

The global nitinol medical devices market faces challenges due to the availability of alternative metals such as cobalt-chromium alloys and stainless steel, which are also used for medical devices. Additionally, copper-based alloys are gaining popularity due to their lower cost. Other metals like gold, silver, platinum, iridium, tungsten, and tantalum are also utilized in medical devices, further impacting nitinol market growth. Moreover, the high manufacturing costs associated with nitinol devices compared to materials like stainless steel hinder market expansion, despite the numerous advantages of nitinol.

Market Opportunities: The increasing adoption of nitinol-based medical products worldwide

The global nitinol medical devices market is poised for growth due to increased adoption of nitinol-based products worldwide. For instance, Confluent Medical's expansion plans include setting up a pilot manufacturing facility for nitinol products in India and Asia. Additionally, the formation of regulatory guidelines, such as the FDA's draft guidance in April 2019, presents significant growth opportunities for market players.