The Nanotechnology in Medical Devices Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Nanotechnology in Medical Devices Market is estimated to be $ 5.8 USD Billion and predicted to rise to $ 10.45 USD Billion with a CAGR of 12.5%. The market is segmented by product type (implantable material, active implantable material, medical textile and wound dressing and biochips), and application (diagnostics, research and therapeutics). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The nanotechnology medical device market is driven by a host of factors that include increasing investment by government in nanotechnology, availability of insurance coverage, reimbursement for healthcare expenditure, growing healthcare expenditure and rising aging population. There are also a few restraints the market has to overcome in order to sustain in the future which includes stringent regulatory policies and high cost involving nanotechnology.
The active implantable devices is currently the largest segment in the market. Regional wise, North America accounts for largest share in the market and is followed by Europe and Asia-Pacific. Asia-Pacific is expected to grow at a faster rate in the near future owing to the increased international collaboration. The improvements in the healthcare sector in the countries like China and India is further driving the growth of the market in this region.
The major companies in the industry includes 3M Company, Acusphere, Inc., Affymetrix, Inc., AMAG Pharmaceuticals, Starkey Hearing Technologies, PerkinElmer, Inc., Smith & Nephew, Inc., Stryker Corporation and Jude Medical, Inc.
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