Global Market for Nanotechnology-Based Medical Devices is Anticipated to grow at a Significant Pace i.e., USD 20.15 Billion during the Forecast Period 2021-2027
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Stryker has acquired HyperBranch Medical Technology, Inc., to enhance its cranial closure portfolio and strengthen its position in the neurotechnology business.
The COVID-19 pandemic has affected nanotechnology in the medical devices industry significantly but medical device supplying and life-saving products are not affected by the coronavirus. A new nano-vaccine metastasis platform has been established for COVID-19 therapeutics and vaccines to Coronavirus in patients.
By product, the active implantable devices segment contributes to the largest share in the nanotechnology-based medical devices market.
Based on product, the active implantable devices segment dominates the market owing to growth-related disorders and includes hearing disorders, and cardiovascular ailments, and increasing incidence of lifestyle-associated diseases. Moreover, the presence of well-established channels of distribution, growing healthcare spending, and accessibility of several reimbursements and insurance coverage will drive the growth of nanotechnology in the medical devices market.
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“Asia-Pacific is projected to witness the fastest growing region during 2021-2027.”
Asia-Pacific is anticipated to be the fastest-growing region owing to the increasing elderly population, mounting international research collaborations, increased nanotechnology R&D spending, and robust growth of the healthcare industry in the region will fuel the growth of nanotechnology in medical devices industry.
Some of the major players in the global nanotechnology-based medical devices market include 3M Company, AAP Implantate AG, Smith & Nephew PLC, Dentsply Sirona Inc., Perkinelmer, Inc., Stryker Corporation, Mitsui Chemicals, Inc., and Starkey Hearing Technologies.
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