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Report Overview

2023

Base Year

2017-2023

Historical Year

2024-2032

Forecast Year

Global Nanotechnology in Medical Devices Market Outlook

The global nanotechnology in medical devices market size attained a value of USD 8.32 billion in 2023. The market is further expected to grow at a CAGR of 10.20% between 2024 and 2032, to reach a value of USD 19.63 billion by 2032.

nanotechnology in medical devices market

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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

nanotechnology in medical devices market by segments

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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

nanotechnology in medical devices market by region

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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 2023
Historical Period 2017-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product
  • Applications
  • End User
  • Distribution Channel
  • Region
Breakup by Product
  • Active Implantable Devices
  • Biochips
  • Implantable Materials
  • Medical Textiles
  • Wound Dressings
  • Others
Breakup by Applications
  • Therapeutic Applications
  • Diagnostic Applications
  • Research Applications
  • Others
Breakup by End User
  • Hospitals and Clinics
  • Long Term Care Centers
  • Households
  • Home Care Settings
  • Ambulatory Surgical Centers
  • Urgent Care Center
  • Others
Breakup by Distribution Channel
  • Wholesalers/Distributors
  • Online Retailers
  • Multi-brand Stores
  • Specialty Stores
  • Others
Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Market Dynamics
  • Market Drivers and Constraints
  • SWOT Analysis
  • Porter’s Five Forces Model 
  • Key Demand Indicators
  • Key Price Indicators
  • Industry Events, Initiatives, and Trends 
  • Value Chain Analysis
Supplier Landscape
  • Market Structure
  • Company Profiles
    • Financial Analysis
    • Product Portfolio
    • Demographic Reach and Achievements
    • Mergers and Acquisitions
    • Certifications
Companies Covered
  • 3M
  • Dentsply Sirona
  • Thermo Fisher Scientific
  • PerkinElmer Inc
  • General Electric Company
  • Ferro Corporation
  • Eppendorf AG
  • Merck KGaA
  • ZELLMECHANIK DRESDEN
  • TÜV Rheinland
  • Medtronic
  • Boston Scientific Corporation
  • BIOTRONIK
  • LivaNova PLC
  • Demant A/S

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

The market reached a value of USD 8.32 billion in 2023.

The market is estimated to grow at a CAGR of 10.20% in the forecast period of 2024-2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 19.63 billion by 2032.

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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63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

+63 287899028, +63 967 048 3306

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124