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

Vantage Market Research

Jun 02, 2022

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 12.10%.

Increased use of Nanotechnology in Medical Devices in different end-use industries, including agriculture, energy, manufacturing, and healthcare, as well as increased investment by major players, are likely to fuel Global Nanotechnology in Medical Devices Market revenue growth over the forecast period. During the projected period, the Global Nanotechnology in Medical Devices Market is expected to develop due to increasing adoption of Nanotechnology in Medical Devices in the healthcare sector for rapid detection and treatment of serious life-threatening diseases. Furthermore, the growing knowledge of new and more advanced treatments and solutions in the healthcare industry in various countries throughout the world is propelling the modern medical and personalized medicine and treatment trend forward. Nanotechnology in Medical Devices advancements serve the healthcare sector in a variety of ways, including disease detection, treatment, and monitoring, implant creation, human tissue regeneration, improved medication delivery, and the development of biomedical research instruments

Furthermore, a rise in demand for lipid, gold, and biodegradable nanoparticles has resulted from a variety of complex Central Nervous System (CNS) illnesses, which is likely to fuel market revenue growth over the projection period. Individualized therapeutic treatments can benefit from nanotechnology. The market is growing due to rising demand for nanotechnology-based equipment and devices in the food and agricultural sector, which has the potential to improve food quality and safety. Nutraceuticals, mineral, and vitamin fortification, nutrient propagation, and flavor nano-encapsulation are all examples of food processing using nanomaterials. Nano foods are also goods that have been grown, processed, or packaged using nanotechnology. In addition, nanosensors can improve pathogen detection in food systems.

Key Highlights from the Report

  • The Nanotechnology in Medical Devices Market is divided into two types: nanosensors and nanodevices. The nanosensors segment is expected to generate the most revenue during the forecast period. Precision agriculture, medical technology, urban farming, prognostics, plant nanobionics, diagnostics, and a variety of other industrial applications all use nanosensors. Nanosensors detect chemical or mechanical information on a nanoscale, such as the presence of chemical species and nanoparticles, or they monitor physical properties such as temperature. The technology and solutions associated with it can be used to monitor pollution and protect the environment.

  • The market can be segmented into Electronics, Energy Chemical Manufacturing, Aerospace & Defense, Healthcare, and Others. The healthcare sector is expected to lead the Global Nanotechnology in Medical Devices Market in terms of revenue share throughout the forecast period, owing to increased use of Nanotechnology in Medical Devices in the drug development process and rising government and private investments in the healthcare sector. In the healthcare industry, Nanotechnology in Medical Devices is used for a variety of applications such as medication delivery, cholesterol and blood sugar monitoring, and more. Nanotechnology in Medical Devices can also be used to detect infectious diseases, which is driving industry growth.

  • Asia Pacific is the fastest regional segment in terms of growth. Due to increased use of Nanotechnology in Medical Devices in the food & beverage, agricultural, and healthcare sectors, the market in Asia Pacific is predicted to develop at the quickest rate over the forecast period. Many companies in the region are using Nanotechnology in Medical Devices to build nanosensors and biosensors for monitoring agricultural fields and crops in order to improve land production. Other factors predicted to fuel market expansion in the region include greater acceptance of Nanotechnology in Medical Devices in medical diagnosis and treatment, including COVID-19 vaccines, and increased government research funding for the development of downsized devices. Nanomedicine is also gaining traction due to the increased prevalence of chronic diseases and the increasing acceptance of nanomedicine.

Market Dynamics:

Issues in Nanotechnology in Medical Devices Device Deployment in Extreme Weather

Extreme weather conditions, such as electromagnetic noise, radiation, high vacuum, and high temperature, are likely to cause nanotech equipment to fail. Devices in the realm of Nanotechnology in Medical Devices must meet strict accuracy criteria for displacement, force, and response times. These new standards make adjusting for or eliminating cross-sensitivities even more challenging. Many electronics lose precision and dependability when exposed to harsh environments. Advanced nanosensors and other devices must preserve maximal autonomy so that they can work autonomously and with minimal maintenance.

Increased Use of Nanotechnology in Medical Devices in Medical Diagnostics

The term Nanotechnology in Medical Devices refers to a set of nanoscale technologies that have a wide range of applications in a variety of industries. Nanotechnology-based diagnostic tools that are now being developed could give two main advantages: earlier disease identification and immediate treatment options. Various advances in the field of medical diagnosis are being carried out to improve efficiency. Nanotechnology in Medical Devices advancements provide significant benefits to the healthcare sector, including disease diagnosis, treatment, and monitoring, the creation of implants, the regeneration of human tissues, improved drug delivery, and the development of biomedical research tools.

North America is expected to be the largest market in 2021, with a share of 38.10%. Several companies in the region are quickly adopting Nanotechnology in Medical Devices and heavily investing in newer technologies such as Artificial Intelligence (AI), biotechnology, and others to modernize healthcare infrastructure and facilities and provide more advanced solutions to the market. Due to nanotechnology, life-threatening diseases can now be identified at an early stage. It also helps to collect real-time data from patients, which can be used to provide life-saving medical care. Furthermore, the growing use of nanomedicine for the treatment of cancer and a variety of infectious diseases is driving the adoption of more advanced technologies, propelling the market forward in this area.

Nanotechnology in Medical Devices Market by Product (Biochip, Implant Materials, Medical Textiles, Wound Dressing), by Application (Therapeutic, Diagnostic, Research), by Regions (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)