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Nanotechnology in Medical Devices Market

Nanotechnology in Medical Devices Market

Nanotechnology in Medical Devices Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

160

Base Year:

2021

Date

Jan - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1123

Segments Covered
  • By Product Biochip, Implant Materials, Medical Textiles, Wound Dressing, Cardiac Rhythm Management Devices, Hearing Aid
  • By Application Therapeutic, Diagnostic, Research
  • By Regions North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 770 Million
Revenue 2028Revenue 2028: USD 1,908 Million
Revenue CAGRRevenue CAGR (2022 - 2028): 12.2%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Nanotechnology in Medical Devices Market Share

Nanotechnology in Medical Devices Market: By Product (Biochip, Implant Materials, Medical Textiles, Wound Dressing, Cardiac Rhythm Management Devices, Hearing Aid), Application (Therapeutic, Diagnostic, Research)

Market Synopsis

Global Nanotechnology in Medical Devices Market is valued at USD 770 Million in 2021 and is projected to attain a value of USD 1,908 Million by 2028 at a CAGR of 12.2% during the forecast period.

Nanotechnology in Medical Devices Market Size, 2021 To 2028 (USD Million)

Nanotechnology is an emerging technology that holds great promise for novel medical devices. Nanotechnology promises to revolutionize medicine, particularly in the field of drug delivery, diagnostics, tissue engineering, imaging, and therapeutics. This promise of these devices is based on the ability of nanomaterials to change or enhance material properties on a scale not achievable with conventional materials. For example, nanoparticles are able to be imaged using fluoroscopy that would otherwise require x-rays given their tiny size. Nanoparticle delivery systems have been shown to improve drug delivery across cell membranes which can lead to better targeting of disease for diagnosis and treatment. Nanotechnology applications are rapidly emerging in the field of diagnostic imaging.

Growing Use of Nanoparticle in Drug Delivery

Nanotechnology in medicine offers a great deal of benefits to both patients and medical professionals. Traditional cancer therapies have been found to have negative side effects such as nausea, vomiting and diarrhea so there is a need for better alternatives. As mentioned earlier, nanoparticles have been used successfully to treat cancer by attacking tumor cells only because they are able to penetrate through cell membranes. This means that healthy cells are left unharmed allowing the body to recover much faster. Nanotechnology in Medical Devices will not only prevent and treat cancer but it will also be useful for other applications such as diagnostic techniques, drug delivery system and even regenerative medicine which allows damaged tissues to heal etc.

Lack of Skilled Professionals May Hinder Market Growth

The potential of nanotechnology in medicine has roused interests from many parties such as governments, academic researchers, pharmaceutical companies and even big corporations since it is expected that nanomaterials will play a vital role in various industries such as healthcare and energy etc. However, one of the main concerns that hospitals and research centers face today is the lack of nanotechnology experts. Since this technology field is relatively new, there are very few professionals to take care of current needs let alone future demands for medical applications. This problem has been solved thanks to online nanotechnology courses or nanotechnology degrees which allow students to study at home without having them quit their current jobs.

Segmentation

Nanotechnology in Medical Devices market is segmented into product and application. Based on product market is segmented into biochip, implant materials, medical textiles, wound dressing, cardiac rhythm management devices, and hearing aid. Based on application market is segmented into therapeutic, diagnostic, research.

Below tree is interactive. You can click the nodes to get more information.

Biochip are Expected to Hold Prominence over Nanotechnology in Medical Devices Market

Nanotechnology is at the forefront of biochips. The potentiality and functionality of nano-biochip can be seen in many aspects, such as: microscopy and visualization, cell sorting and drug delivery system. Nano-biochips enable to perform tests with higher accuracy and precision than traditional tests due their nanoscale design which provide high surface area per volume that allows great number of interactions or reactions to take place. Moreover, nanoscale devices can be made to fit into the human body and even cross the blood-brain barrier.

Nanoplatforms provide high specificity and sensitivity for rapid analysis of complex biological samples, especially the increasing importance of biochip is based on increasing gene expression research due to their capacity in delivering therapeutics inside cells through receptors recognition. Researchers are applying nanotechnology to exploit the possibility of using multiplex real time PCR or fluorescent tagging that allows discrimination between different mRNA transcripts.

North America to Dominate Nanotechnology in Medical Devices Market

One reason to this development is the fact that many US companies have been working with DNA technology for a long time already, which makes them better prepared for using nanotechnology to create medical innovations. In addition, south-east USA offers an environment where scientists can work together in various fields such as science, business and law which brings about even further developments in life sciences. In terms of regulations, North America is also much more advanced than Europe. For example, the FDA already has a lot of experience in regulating medical implants and genetic medicine. There is greater standardization in Europe but it still takes twice as long to get through the necessary approvals for an implant or device compared with the US. Moreover, Europe's 'free movement of goods' regulations create problems with the approval of new devices. For example, if an implant is approved in France, it can be used across Europe without further approvals - but only the country where the implant was initially approved has to bear the costs for these repeated registrations.

Competitive Landscape

Some of the key players in the global Nanotechnology in Medical Devices market are 3M Company (U.S.), Stryker Corporation (U.S.), St. Jude Medical, Inc. (U.S.), Affymetrix, Inc. (U.S.), Smith & Nephew, Inc. (U.K.), and PerkinElmer, Inc. (U.S.).

The Nanotechnology in Medical Devices is Segmented as Follows:

Parameter Details
Segments Covered
  • Product (Biochip, Implant Materials, Medical Textiles, Wound Dressing, Cardiac Rhythm Management Devices, Hearing Aid)
  • Application (Therapeutic, Diagnostic, Research)
  • Regions (North America, Europe, Asia Pacific, Middle East & Africa, Latin America)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • 3M Company (U.S.)
  • Stryker Corporation (U.S.)
  • St. Jude Medical Inc. (U.S.)
  • Affymetrix Inc. (U.S.)
  • Smith & Nephew Inc. (U.K.)
  • and PerkinElmer Inc. (U.S.)
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Nanotechnology in Medical Devices Market to Reach Valuation of USD 1,908 Million by 2028 - Surge in Adoption of Nanotechnology in Medical Devices in Medical Diagnosis to Drive the Market Growth
From the period of 2022 to 2028, the Global Nanotechnology in Medical Devices Market is expected to reach USD 1,908 Million in terms of revenue, growing at a Compound Annual Growth Rate (CAGR) of 12.2%. Increased use of Nanotechnology in Medical Devices Market in different end-use industries, incl...
FAQ
Frequently Asked Question
  • The global Nanotechnology in Medical Devices valued at USD 770 Million in 2020 and is expected to reach USD 1,908 Million in 2028 growing at a CAGR of 12.2%.

  • The prominent players in the market are 3M Company (U.S.), Stryker Corporation (U.S.), St. Jude Medical, Inc. (U.S.), Affymetrix, Inc. (U.S.), Smith & Nephew, Inc. (U.K.), and PerkinElmer, Inc. (U.S.).

  • The market is project to grow at a CAGR of 12.2% between 2021 and 2028.

  • The driving factors of the Nanotechnology in Medical Devices include

    • Growing Use of Nanoparticle in Drug Delivery

  • North America was the leading regional segment of the Nanotechnology in Medical Devices in 2020.