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

The global nanotechnology in the medical devices market is expected to witness a CAGR of 36.3% during the forecast period. Factors attributing to the growth of nanotechnology in the medical devices market include the initiatives by the government to support technology development in nanotechnology like nanotech in contact lenses and VR, nanotech detectors for heart attack, mini 3D printed batteries for biosensors, etc. will accelerate the growth in the market. Moreover, the rising geriatric population, and their age-related diseases, increasing optimism for nanotechnology in the medicinal field to bring significant development in the diagnosis treatment and to prevent various diseases will augment the growth of nanotechnology in the medical device industry.

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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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