Nanotechnology-Based Medical Devices Global Market Analysis, Trends, Growth, Research And Forecast 2033

"The Business Research Company recently released a comprehensive report on the Global Nanotechnology-Based Medical Devices Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The nanotechnology-based medical devices market size has grown exponentially in recent years. It will grow from $2.69 billion in 2023 to $3.65 billion in 2024 at a compound annual growth rate (CAGR) of 35.9%. The growth in the historic period can be attributed to miniaturization of devices, advancements in materials science, improved diagnostics, enhanced imaging techniques, personalized medicine development.

The nanotechnology-based medical devices market size is expected to see exponential growth in the next few years. It will grow to $12.44 billion in 2028 at a compound annual growth rate (CAGR) of 35.8%. The growth in the forecast period can be attributed to increase in chronic disease burden, enhanced drug delivery systems, telemedicine expansion, rise in minimally invasive procedures, focus on point-of-care devices. Major trends in the forecast period include implantable nanosystems, nano-enabled tissue engineering, nanoparticle imaging contrast agents, 3d printing with nanomaterials, environmentally sustainable nanotech.

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Market Drivers and Trends:

The increasing prevalence of chronic diseases is expected to propel the growth of the nanotechnology-based medical device market going forward. Chronic diseases are defined as problems that last for a year or longer and necessitate continuing medical care, restricting everyday activities, or both. Nanotechnology-based medical devices are used to diagnose and treat chronic diseases with increased optical strength, antibacterial and antimicrobial activities, bioavailability, surface conjugation, and biocompatibility. For instance, in September 2022, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, there were 41 million deaths, which is 74% of those caused by non-communicable diseases (NCDs) or chronic diseases every year globally. There were 17.9 million deaths from cardiovascular diseases, 9.3 million deaths from cancer, 4.1 million deaths from chronic respiratory diseases, and 2.0 million deaths from diabetes. Therefore, the increasing prevalence of chronic diseases drives the nanotechnology-based medical device market.

Product innovation has emerged as a key trend gaining popularity in the nanotechnology-based medical device market. Major market players are concentrating their efforts on creating innovative products to strengthen their position in the market. For instance, in January 2023, Ended Pharmaceuticals, an India-based pharmaceutical company, in collaboration with Nonskin London, a UK-based cosmetic research laboratory, developed a nanotechnology-based eye gel serum under the brand name Eyecare. These products are nanotechnology-based gel serum with its nanotechnology-based bio-cellular formula that contains safety-tested, scientifically validated, and carefully curated natural ingredients.

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Major Key Players of the Market:

Johnson & Johnson, General Electric Company, Thermo Fisher Scientific Inc., Abbott Laboratories, 3M Company, Medtronic PLC, Stryker Corporation, DuPont de Nemours Inc., Boston Scientific Corporation, Arkema Group, Zimmer Biomet, Smith And Nephew PLC, Sonova Holding AG, Dentsply Sirona Inc., Perkinelmer Inc., Bruker Corporation, TÜV Rheinland, Biotrinik SE & Co. KG, LivaNova Plc, MED-EL, Keystone Nano, Nanonics Imaging Ltd., Imina Technologies SA, Hummingbird Scientific, Blueberry Therapeutics, Cello Therapeutics.

Nanotechnology-Based Medical Devices Market 2024 Key Insights:

• The nanotechnology-based medical devices market size is expected to see exponential growth in the next few years. It will grow to $12.44 billion in 2028 at a compound annual growth rate (CAGR) of 35.8%.
• Rising Prevalence Of Chronic Diseases To Drive Market Growth
• Product Innovations Transforming The Nanotechnology-Based Medical Device Market
• North America was the largest region in the nanotechnology-based medical devices market in 2023

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This release was published on openPR.