Nanotechnology Based Medical Device Market Insights 2020: Business Analysis By 2027 With Leading Players Starkey, Smith & Nephew, Abbott, PerkinElmer Inc., aap Implantate AG, Stryker, Mitsui Chemicals, Inc
Global Nanotechnology Based Medical Device Market, By Products (Active Implantable Devices, Biochips, Implantable Materials, Medical Textiles and Wound Dressings, Others), Application (Therapeutic, Diagnostic, Research), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2027.
Nanotechnology based medical device market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses the market to account to USD 20.63 billion by 2027 growing at a CAGR of 11.65% in the above-mentioned forecast period. The growing support and funds from the government is driving the growth of the nanotechnology based medical device market.
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The global nanotechnology based medical device market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions and others to increase their footprints in this market. The report includes market shares of nanotechnology based medical device system market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors/Players:
- Starkey Hearing Technologies
- Smith & Nephew PLC
- Jude Medical, Inc
- Perkinelmer, Inc
- Affymetrix, Inc.
- AAP Implantate AG
- Stryker Corporation
- Mitsui Chemicals, Inc
- Dentsply International
- 3M Company
- Smith & Nephew
- Acusphere, Inc
- AMAG Pharmaceuticals
- Ferro Corp
- Merck KGaA
- GE Global Research
- AstraZeneca Plc
- Capsulution Nanoscience AG
- among others.
Major Market Drivers and Restraints:
- Increase support and fund from government
- Increase in geriatric population
- Stringent and time-consuming product approval processes
- High prices of nanotechnology-based medical devices
- Commercialization of nanotechnology-based devices
Nanotechnology is use of extremely small particles to make new and useful materials. One of the major applications of nanotechnology is nano coating which increases the biocompatibility and improves the absorption of material in surrounding tissues such as use of stent coating in cardiology, coating in joint replacement in orthopedics and dental implants. Nanomaterials used in wound care and medical textiles owing to its antimicrobial properties. Nanomaterials devices are used in neurology and cardiac problems because of electrical and magnetic properties of materials. In early diagnostic of cancer nanomaterials enhances the effect of chemotherapy and radiation therapy through increased temperature. Apart from this, nanomaterials develop the implantable biosensors through micro-electromechanical systems (MEMS) and silicon chips capable of implantation within the human body. Devices developed based on micro-electromechanical systems (MEMS) are developed for the treatment of chronic disease monitoring, cardiac arrhythmia, cardioverter-defibrillator (ICD), implantable drug delivery systems. Medtronic developed carelink monitor that allows patient to gather information from implanted cardiac device. In 2004, Verichip received the approval for RFID microchip device from U.S FDA. This product expansion of verichip enhanced the market value of RFID microchip. IN Feb 2006, Zyvex Corporation has selected Diabetech, LP for development and commercialization, for their wireless sensor implant. This collaboration helped Zyvex Corporation to increase their market value.
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Based on product the market is segmented into:
- Active Implantable Devices
- Implantable Materials Medical Textiles
- Wound Dressings
Active implantable devices are further sub-segmented into:
- Cardiac Rhythm Management Devices
- Hearing Aid Devices
- Retinal Implants
Biochips is further sub-segmented into:
- DNA Microarrays
Implantable materials are further sub-segmented into:
- Dental Restorative Materials
- Bone Substitute Materials
Based on application the market is segmented into:
- Therapeutic Applications
- Diagnostic Application
- Research Application
Based on geography:
- North America
- South America
- Middle East & Africa
Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
Demand Side Primary Contributors: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
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