Global Nanotechnology-Based Medical Devices Market - Sales, Price, Revenue, Gross Margin Analysis and Forecast to 2024, Stryker Corporation

The nanotechnology-based medical device helps in medical diagnosis, prevention of disease, and treatment. Nanotechnology in medicine devices includes the use of nano-robots to create repairs at the cellular level and treat and detect the damage to the human body. The global nanotechnology-based medical devices market is growing at a significant rate, due to expanding geriatric population and increasing government initiatives.

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The increasing government support, escalating occurrence of age-related and lifestyle associated disorders such as cardiovascular diseases and hearing diseases, large-scale development in nanotechnology, the existence of well-structured delivery channels, and expanding geriatric population are the primary growth drivers for nanotechnology-based medical devices market. For instance, according to the World Health Organization (WHO), globally in 2010 approximately 524 million people were aged 65 years and older and is expected to reach 1.5 billion in 2050.

Geographically, North America is the largest nanotechnology-based medical devices market as in the region the geriatric population is increasing. For instance, according to the U.S. Census Bureau, in 2012 approximately 43.1 million people were aged 65 years and older in the U.S. and is expected to reach 83.7 million in 2050.

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Asia-Pacific is observed to witness the fastest growth in the market, as the region comprises of the large population base. In addition, expanding the geriatric population, escalating healthcare expenditure, mounting R&D expenditure in nanotechnology,

Key players in the nanotechnology-based medical devices market are catering to the demand of these devices by investing in technologically advanced products in their product portfolio across the globe. In October 2018, Stryker acquired HyperBranch Medical Technology, Inc, to improve its cranial closure portfolio and strengthens its position in neurotechnology business. 3M Company, AAP Implantate AG, Smith & Nephew PLC, Dentsply Sirona Inc., Perkinelmer, Inc., Stryker Corporation, Mitsui Chemicals, Inc., and Starkey Hearing Technologies are the key players offering nanotechnology-based medical devices.

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