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Global Nanotechnology in Medical Devices Market Share, Size, Growth, Analysis, Forecast: By Product: Active Implantable Devices, Biochips, Implantable Materials, Medical Textiles and Wound Dressings, Others; By Application: Therapeutic Applications, Diagnostic Applications, Others; Regional Analysis; Competitive Landscape; 2023-2028
Global Nanotechnology in Medical Devices Market Outlook
The global nanotechnology in medical devices market size attained a value of USD 7.55 billion in 2022. The market is further expected to grow at a CAGR of 10.20% between 2023 and 2028, to reach a value of USD 13.31 billion by 2028.
Key Trends in the Market
Nanotechnology in medical devices refers to the usage of nanotechnology for medical device applications, increasing the flexibility and potential of technology in medical devices. Nanotechnology involves the manipulation of near-atomic scale matter to create new devices, materials, and structures. In medical devices, nanotechnology enhances the ability of the medical device, allowing them to precisely target a specific tissue or an organ.
- The increasing prevalence of oncological and musculoskeletal disorders is driving the nanotechnology in medical devices market growth. Factors such as growing geriatric population and prevalence of sedentary lifestyles among working populations are leading to an escalation in the cases of cancers and musculoskeletal conditions.
- Rising investments towards advancements in nanotechnology-based implants for orthopaedic applications are crucial trends in the market. In addition, the increasing penetration of internet of things (IoT) and artificial intelligence is further leading to the development of superior and highly efficient nanotech medical devices.
- The increasing healthcare expenditure across the emerging economies, advancements in 3D implants, and the growing efforts of various governments to improve diagnostic and treatment facilities across healthcare units are some of the major trends in the nanotechnology in medical devices market.
Market Analysis
Based on product, the market is segmented into active implantable devices, biochips, implantable materials, and medical textiles and wound dressings, among others. Active implantable devices are further divided based on type into cardiac rhythm management devices, retinal implants, and hearing aid devices. Biochips are further bifurcated based on type into DNA microarrays and lab-on-chip. Implantable materials are further segmented based on type into bone substitute materials and dental restorative materials.
On the basis of application, the market is classified into therapeutic applications, diagnostic applications, and research applications. The regional markets for nanotechnology in medical devices are divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global nanotechnology in medical devices market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- Smith & Nephew plc
- Stryker Corporation
- Abbott Laboratories
- PerkinElmer Inc.
- Starkey Laboratories, Inc.
- Others
Market Share by Product
The implantable material segment, based on product, accounts for a healthy share of the nanotechnology in medical devices market. The increasing use of nanotechnology to produce bone substitute materials in order to treat musculoskeletal diseases is driving the segment’s growth. In addition, nanomaterials are emerging as a promising therapeutic option for organ and tissue replacement procedures, as well as for bone regeneration. Hence, the increasing prevalence of musculoskeletal injuries among populations worldwide is fuelling the growth of this segment. Moreover, research and innovations in the field of tissue engineering are expected to generate a steady demand for implantable materials in the forecast period. The growing dental care infrastructure and increasing awareness regarding regular check-ups and dental care are also bolstering the demand for dental restorative materials.
Market Share by Application
Based on application, the diagnostic applications segment accounts for a significant share in the nanotechnology in medical devices market. This can be attributed to the importance of timely and accurate diagnoses in the treatment and prognoses of various chronic conditions. Emergence of medical devices based on nanotechnology are gaining traction across the healthcare units as these are highly advanced and reliable for the diagnosis of conditions such as osteoporosis and cancer. Over the forecast period, the anticipated increase in application of nanotechnology-based medical devices for early-stage diagnoses of various cancers for improved outcomes is expected to fuel the growth of the market for nanotechnology in medical devices.
Competitive Landscape
Smith & Nephew plc is a leading medical equipment manufacturing company that operates in more than 100 countries across the world. The company caters to the medical device demands of advanced wound management, orthopaedic trauma, and sports medicine, among others. It was established in the year 1856 and is headquartered in London, United Kingdom.
Stryker Corporation is a multinational medical technology corporation which provides medical and surgical equipment, orthopaedic therapeutics, neurotechnology for advanced treatment, and advanced training and education for budding doctors. The company was founded in the year 1941 and is currently headquartered in Michigan in the United States.
Abbott Laboratories is a leading multinational manufacturing company of medical devices and healthcare products which also provides expertise in nutritional products. The company has significant sales of its cardiovascular, neuromodulation diagnostic, and pharmaceutical products. It was established in 1888 and is headquartered in Illinois, United States.
Other market players include PerkinElmer Inc., and Starkey Laboratories, Inc., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Nanotechnology in Medical Devices Market Analysis
8.1 Key industry Highlights
8.2 Global Nanotechnology in Medical Devices Historical Market (2018-2022)
8.3 Global Nanotechnology in Medical Devices Market Forecast (2023-2028)
8.4 Global Nanotechnology in Medical Devices Market by Product
8.4.1 Active Implantable Devices
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.1.4 Breakup by Type
8.4.1.4.1 Cardiac Rhythm Management Devices
8.4.1.4.2 Retinal Implants
8.4.1.4.3 Hearing Aid Devices
8.4.2 Biochips
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.2.4 Breakup by Type
8.4.2.4.1 DNA Microarrays
8.4.2.4.2 Lab-on-Chip
8.4.3 Implantable Materials
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.3.4 Breakup by Type
8.4.3.4.1 Bone Substitute Materials
8.4.3.4.2 Dental Restorative Materials
8.4.4 Medical Textiles and Wound Dressings
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.4.5 Others
8.5 Global Nanotechnology in Medical Devices Market by Application
8.5.1 Therapeutic Applications
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Diagnostic Applications
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Research Applications
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.6 Global Nanotechnology in Medical Devices Market by Region
8.6.1 North America
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Europe
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Asia Pacific
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Latin America
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2022)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Middle East and Africa
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2022)
8.6.5.3 Forecast Trend (2023-2028)
9 North America Nanotechnology in Medical Devices Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Nanotechnology in Medical Devices Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Nanotechnology in Medical Devices Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Nanotechnology in Medical Devices Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Nanotechnology in Medical Devices Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key indicators for Demand
14.4 Key indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Smith & Nephew plc
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Stryker Corporation
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Abbott Laboratories
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 PerkinElmer Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Starkey Laboratories, Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Nanotechnology in Medical Devices Market: Key industry Highlights, 2018 and 2028
2. Global Nanotechnology in Medical Devices Historical Market: Breakup by Product (USD Million), 2018-2022
3. Global Nanotechnology in Medical Devices Market Forecast: Breakup by Product (USD Million), 2023-2028
4. Global Nanotechnology in Medical Devices Historical Market: Breakup by Application (USD Million), 2018-2022
5. Global Nanotechnology in Medical Devices Market Forecast: Breakup by Application (USD Million), 2023-2028
6. Global Nanotechnology in Medical Devices Historical Market: Breakup by Region (USD Million), 2018-2022
7. Global Nanotechnology in Medical Devices Market Forecast: Breakup by Region (USD Million), 2023-2028
8. North America Nanotechnology in Medical Devices Historical Market: Breakup by Country (USD Million), 2018-2022
9. North America Nanotechnology in Medical Devices Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Europe Nanotechnology in Medical Devices Historical Market: Breakup by Country (USD Million), 2018-2022
11. Europe Nanotechnology in Medical Devices Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Asia Pacific Nanotechnology in Medical Devices Historical Market: Breakup by Country (USD Million), 2018-2022
13. Asia Pacific Nanotechnology in Medical Devices Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Latin America Nanotechnology in Medical Devices Historical Market: Breakup by Country (USD Million), 2018-2022
15. Latin America Nanotechnology in Medical Devices Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Middle East and Africa Nanotechnology in Medical Devices Historical Market: Breakup by Country (USD Million), 2018-2022
17. Middle East and Africa Nanotechnology in Medical Devices Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Global Nanotechnology in Medical Devices Market Structure
Key Questions Answered in the Report
The market reached a value of USD 7.55 billion in 2022.
The market is estimated to grow at a CAGR of 10.20% in the forecast period of 2023-2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach a value of USD 13.31 billion by 2028.
The increasing prevalence of chronic conditions such as cancer, osteoporosis, and tuberculosis, among others, rising healthcare expenditure across the emerging economies, and growing demand for implants and advanced therapeutical medications, are the major drivers of the market.
The key trends in the nanotechnology in medical devices market include technological advancements in nanomaterials, advanced 3D implantation, and increasing penetration of artificial intelligence and Internet of Things.
Active implantable devices, biochips, implantable materials, and medical textiles and wound dressings, among others, are the different products included in the market.
Therapeutic applications, diagnostic applications, and research applications are the segments of the market based on application.
Nanotechnology is growing in importance in healthcare due to its ability to reduce costs of medical diagnostics and enhancing convenience.
Embedding nanotechnology and nanoscale sensors into implants is an emerging potential application of nanotechnology in medicine which could enable the detection of infection at earlier stages.
Smith & Nephew plc, Stryker Corporation, Abbott Laboratories, PerkinElmer Inc., and Starkey Laboratories, Inc., among others, are the key market players, according to the report.
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