Global Nanotechnology-Based Medical Devices Market Analysis 2023: Size, Share, And Key Trends
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
As per The Business Research Company’s Nanotechnology-Based Medical Devices Global Market Report 2023, the nanotechnology-based medical devices market is expected to show significant growth in the forecast period.
Key insights from the nanotechnology-based medical devices market forecast include:
- Market Size
The worldwide nanotechnology-based medical devices market should rise from $1.98 billion in 2022 to $2.69 billion in 2023, indicating a 36.1% CAGR. Projected market size by 2027 suggests $9.07 billion, growing at a 35.5% CAGR. - Major Driver
The rising incidence of chronic diseases is poised to boost the nanotechnology-based medical device market. Chronic illnesses persist for a year or more, requiring ongoing care and impacting daily life. For instance, in September 2022, the World Health Organization reported 41 million annual global deaths, with 74% attributed to non-communicable diseases (NCDs) or chronic conditions. These include 17.9 million deaths from cardiovascular diseases, 9.3 million from cancer, 4.1 million from chronic respiratory diseases, and 2.0 million from diabetes, underlining the nanotech medical device market’s growth driven by chronic disease prevalence.
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- Key Trend
Product innovation is a prominent trend in the nanotechnology-based medical device market. Key players focus on innovation to bolster market presence. For example, Ended Pharmaceuticals, an Indian firm, partnered with Nonskin London, a UK cosmetic research lab, to create Eyecare, a nanotechnology-based eye gel serum in January 2023. Eyecare features a nanotechnology-based bio-cellular formula with safe, scientifically verified natural ingredients. - Largest Region
North America was the largest region in the nanotechnology-based medical devices market in 2022. - Major Players
Major players in the nanotechnology-based medical devices market are Smith And Nephew Plc., Dentsply Sirona Inc., PerkinElmer Inc., Stryker Corporation, 3M, Starkey Hearing Technologies, Abbott Laboratories, Mitsui Chemicals Inc., Thermos Fisher Scientific Inc., asap Implant ate AG, Medtronic plc., Zimmer Biomet, Boston Scientific Corporation, Ivanova Plc., and Biotitic SE & Co. KG.
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Key Nanotechnology-Based Medical Devices Market Segments
The global nanotechnology-based medical devices market is segmented –
1) By Product: Active Implantable Devices, Biochips, Implantable Materials, Medical Textiles And Wound Dressings, Other Products
2) By Application: Therapeutic Applications, Diagnostic Applications, Research Applications
3) By End-Users: Hospitals, Clinics, Other End-Users
The Nanotechnology-Based Medical Devices Global Market Report 2023 provides an in-depth analysis on the nanotechnology-based medical devices market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the nanotechnology-based medical devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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