Nanotechnology in Medical Devices Market - By Product (Implantable Medical Devices, Dental Filling Material, Wound Care), By Indication (Dentistry, Orthopedics, Hearing Loss, Wound Care), By End-use & Forecast, 2022-2030

Nanotechnology in Medical Devices Market Size

Nanotechnology In Medical Devices Market size registered more than USD 3 billion in 2021. Driven by the widespread application of nanotechnology in disease treatment and prevention, the industry is slated to grow at over 8% CAGR from 2022 to 2030.
 

The nanotechnology in medical devices industry is gaining positive traction due to its potential to increase the quality of care and treatment in the healthcare sector. The robust adoption of nanotechnology for wound care, implantable medical devices, and other applications, is owing to innovative nanotechnology research that is supporting the development of new treatment technologies.
 

Furthermore, favorable government initiatives across several nations have promoted public awareness and acceptance of nanotechnology as well as its applications in the development of novel medical devices. Considerable investments and programs to improve the healthcare system are fueling the market expansion.
 

High prices of nanodevices may restrain industry progression

High cost of nanodevices is emerging as a major restraining factor for nanotechnology in medical devices market growth. The elevated prices of these devices pose a crucial challenge for companies that are commercializing nanotechnology-based medical devices. Nevertheless, increasing investments by government bodies and manufacturing companies are set to help market players combat this constraint.
 

Nanotechnology in Medical Devices Market Analysis

In terms of product, the nanotechnology in medical devices market is categorized into implantable medical devices, dental filling material, wound care, and others. The implantable medical devices segment is projected to exceed USD 2.9 billion by 2030. This is attributed to a significant rise in the adoption of nanotechnology-based medical devices in target disease treatment procedures due to various advantages offered by these products.
 

With respect to application, the nanotechnology in medical devices market is divided into dentistry, orthopedics, hearing loss, wound care, and others. The orthopedics segment is expected to register 8% CAGR through 2030. Nanotechnology facilitates novel applications in scaffolds to generate a precise interface between native bone and orthopedic implants, leading to effective osseointegration. Nanotechnology is also gaining traction in the orthopedics space as the bone and its constituents, such as hydroxyapatite, collagen fibrils, and haversian systems, are nano compounds.
 

In terms of end-use, the nanotechnology in medical devices market is segregated into hospitals, clinics, and others. The hospitals segment is speculated to amass over USD 3.7 billion by 2030 as a result of soaring admissions with target indications comprising oral issues, orthopedic diseases, hearing loss, and surging disease screening initiatives. Additionally, the availability of highly skilled healthcare professionals is further propelling the industry trends.
 

North America nanotechnology in medical devices market is poised to USD 2.5 billion by 2030 due to significant adoption of advanced products, and the presence of a large number of manufacturers are some factors propelling the regional market forecasts. Moreover, favorable initiatives by several countries across the globe to improve the healthcare infrastructure are also expected to prove conducive to industry growth.
 

Nanotechnology in Medical Devices Market Share

• Smith & Nephew PLC
• Starkey
• Abbott
• Straumann
• Audina Hearing Instruments
• Interton
• Sebotek Hearing Systems
• Coltene Whaledent
• Medtronic
• 3M
• Convatec Group
• Zimmer Biomet
• 3-D Matrix Medical Technology
• Dentsply Sirona
• Stryker Corporation Shofu Dental

are some of the key players in market. These companies majorly focus on introducing advanced nanotechnology products and adopting strategic partnerships with healthcare companies to enhance their business standing.
 

Impact of COVID-19 Pandemic

The emergence of the COVID-19 pandemic impacted public health and led to an unprecedented surge in the number of hospitalizations and hampered several global businesses, including the healthcare sector, during 2020 and the beginning of 2021. In addition, the subsequent travel restrictions and quarantine orders led to disruptions in the availability & access to a wide range of healthcare services, which negatively influenced other medical practices, such as audiology, orthopedic, and dental practices, among others.
 

The nanotechnology in medical devices market report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2017 to 2030 for the following segments:

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By Product

• Implantable Medical Devices
  • Orthopedic Devices
  • Hearing Aids
  • Dental Implants
• Dental Filling Material
• Wound Care
• Others

By Application

• Dentistry
• Orthopedics
• Hearing Loss
• Wound Care
• Others

By End-use

• Hospitals
• Clinics
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Israel