Nanotechnology Based Medical Device Market Research & Analysis Stringent and Time-Consuming Product Approval Processes the +11.5% CAGR Industry

Global Nanotechnology Based Medical Device Market is expected to reach USD 16.55 Billion by 2025 from USD 6.93 Billion in 2017 growing at a CAGR of 11.5% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2017, the base year of calculation is 2017 and the forecast period is 2018 to 2025.

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Global Nanotechnology Based Medical Device Market, By Products (Active Implantable Devices, Biochips and Implantable Materials and Medical Textiles and Wound Dressings), By Application (Therapeutic Application, Diagnostic and Research), By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) and Forecast to 2025.

Competitive Analysis:

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:

Some of the major players operating in the market are Starkey Hearing Technologies, Smith & Nephew PLC, ST. 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.

Market Definition:

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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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

Market Segmentation:

The nanotechnology based medical device market is based on product and application
Based on product the market is segmented into active implantable devices, biochips, implantable materials medical textiles and wound dressings and others. 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, lab-on-chip. 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 and research application.

Based on geography the global nanotechnology based medical device market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, 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.

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Research Methodology:

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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