The nanomedicine markets are driven by factors such as developing new technologies for drug delivery, increase acceptance of nanomedicine across varied applications, rise in government support and funding, the growing need for therapies that have fewer side effects and cost-effective.
Nanomedical Devices Market - Overview
Nanomedical devices deliver great promise in various applications for health care. These devices are predominantly used in vivo testing and imaging. Over the past decade, a spurting growth has been seen in the number of developments of Nanomedical Devices Market. The FDA has already approved many nanoscale devices. Various nanoscale materials used as delivery mechanisms while nanomaterials are being researched to improve devices used in cancer therapeutics.
Simultaneously, nanoneedles and nanowires are being researched and developed for the usages in epilepsy and heart control while nanosized surgical instruments are studied to perform microsurgeries and for better visualization of surgery. Nanotechnology has revolutionized the medical field and has the potential to add innovative functionality to medical devices and pharmaceutical products.
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Nanomedical Devices Market - Key Players
The Key Players Global Nanomedical Devices & Therapeutic Market include 3M Company (USA), EnvisionTEC (USA), EOS GmbH (Germany), Medtronic (USA), PerkinElmer, Inc. (the USA), Smith & Nephew PLC (UK), St. Jude Medical, Inc. (the USA), Starkey Hearing Technologies (USA), and Stryker Corporation (USA).
Nanomedical Devices Market – Segmentation
The global Nanomedical Devices has been segmented based on types, applications, end-users, and region. By types, the market has been segmented into implantable biosensors, implantable cardioverter-defibrillators, implantable drug delivery system and others.
By application, the market has been segmented into disease treatment & diagnosis, drug release regulation and other. Of these, disease treatment and diagnosis presently has almost three-fourths of the total market share due to the widespread availability of healthcare and increased incidences of health problems experienced by a globally increasing population due to changing lifestyles caused by rapid urbanization. Further sub-segmentation is listed below.
Disease treatment & diagnosis - cancer, neurological diseases, cardiovascular diseases and others
By end user, the market has been segmented into hospitals, clinics, and research institutions.
By region, the market has been segmented into the Americas, Europe, the Asia-Pacific and the Middle East & Africa.
Latest Industry News
- Leading graphene biosensors manufacturer and biotherapeutics developer Nanomedical Diagnostics are developing Agile R100. This is a portable digital device useful for biosensing that can be employed for any click-able application. It evaluates the potential of the platform for identifying the biomarkers associated with aging, pathology, and tissue health. 16 OCT 2018
- Houston Methodist scientists have developed a nanodevice to deliver immunotherapy without side effects to treat triple-negative breast cancer. 23 OCT 2018
Nanomedical Devices Market - Regional Analysis
The regional segmentation of the global nanomedical devices market segments the market into continent-based regional markets namely The Americas (North America & South America), Asia Pacific, Europe, and the Middle East & Africa (MEA). The biggest regional market is The Americas. North America alone holds the potential to be the largest market due to its strong economies are known as the United States of America (USA) and Canada. Individually, North America is a bigger market than South America due to the availability of advanced technology. Other factors aiding the market growth in this region include increasing governmental support for the research and development (R&D) as well as rising healthcare expenditure.
In Europe, the market growth is primarily driven by more awareness and advancement in the nanotechnology sector. Europe has a high density of population, and after North America, it has maximum technological advancement. Due to the reasons same as The Americas, Western Europe as a market is bigger than Eastern Europe. The most important country-specific markets in Europe are Germany, France, Spain, Italy, and the United Kingdom (UK), followed by the rest of Western Europe.
According to the report, the Asia Pacific is expected to emerge as the fastest growing regional market during the forecast period. The reasons for the market growth are increasing demand for better treatment options and increasing initiatives to include Information Technology (IT) in all sectors including healthcare. The primal country-specific markets in this region are Australia, China, India, South Korea, and Japan, followed by the rest of the Asia Pacific region.
The MEA region shows limited market slow and steady growth. The reasons for the slow market growth in this region are lack of awareness, lack of education, lack of technological development, political instability, poor healthcare facilities, and healthcare not considered a priority by most governments. The crucial country-specific markets in the MEA region are Kuwait, Oman, Saudi Arabia, United Arab Emirates (UAE), and Qatar, followed by the rest of the MEA region.
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