Press release
Nanotechnology Based Medical Device Market Business Overview, Production Status to Accrue Impressively by 2025 With a Healthy CAGR of Over 11.5% During Forecast Period, 2018-2025
"Nanotechnology Based Medical Device"
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Report Analysis:
The 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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Major Market Competitors/Players:
• 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.
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 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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Report Segmentation:
The nanotechnology based medical device market is based on product, application and geography.
Based on product the market is segmented into:
• Active Implantable Devices
• Biochips
• Implantable Materials Medical Textiles
• Wound Dressings
• 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
• 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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About Data Bridge Market Research:
Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge endeavors to provide appropriate solutions to the complex business challenges and initiates an effortless decision-making process.
Contact:
Sopan Gedam
Data Bridge Market Research
Tel: +1-888-387-2818
Email: sopan.gedam@databridgemarketresearch.com
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