North America Dominates Healthcare Nanotechnology for Active Implantable Devices During Review Period
Growing demand for advanced and efficient equipment and supportive government initiatives are expected to boost the healthcare nanotechnology market, Fact.MR finds in a new study. The increase in the geriatric population as well as the developments in the healthcare sector are the main drivers of the market. The increase in government initiatives and investments are the main factors encouraging the adoption of nanotechnologies in the health sector.
The advent of nanotechnology has helped improve and improve various healthcare systems and creates opportunities to transform various processes within the healthcare industry, including diagnosis, treatment, drug delivery and others. The integration of nanotechnology into monitoring devices, imaging and biological tests ensures better precision in the diagnosis of diseases.
There has been an increasing adoption of nanotechnology in the treatment of chronic diseases. It finds application in biochips, implantable materials and medical textiles, and dressings. The increasing number of patients affected by COVID-19 has also affected the growth of the market.
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Key takeaways from the Nano-Health Technologies Market report
- There has been an increase in the adoption of biochips to improve disease diagnosis, which is helping to increase sales in the health nanotechnology market.
- High costs and complex product approval procedures, however, could restrict demand to some extent
- North America will become a dominant market as the region displays high investments in modern healthcare. Asia-Pacific will also provide lucrative growth opportunities throughout the forecast period
- The demand for active implantable devices is set to increase exponentially in the coming years, creating exciting growth opportunities
- In the coming years, the therapeutic application of nanotechnology in healthcare will increase dramatically, according to Fact MR in a study
“The demand for advanced treatment processes will continue to increase as the healthcare industry witnesses an increase in the incidence of chronic disease. Technological improvements are in high demand, more than ever before, especially as countries around the world try to contain the spread of the new coronavirus. Nanotechnology is believed to have the potential to enable early detection of COVIDF-19 even before a patient begins to show symptoms. In the coming years, its penetration into the healthcare industry is expected to increase significantly, ”said a senior analyst at Fact MR.
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Impact of COVID-19 on the health nanotechnology market
The COVID-19 pandemic has disrupted several industries, including the health nanotechnology market. The implementation of containment and transport bans affected the production of equipment. But the growing number of patients has positively impacted the demand for nanotechnology-based devices.
The market is expected to recover from the pandemic at a moderate growth rate. Growing health caution is expected to increase the use of nanotechnology-based devices in the healthcare industry.
Competitive landscape of the health nanotechnology market
Players operating in the market are now focusing on research and development of nanotechnology to improve its efficiency in various applications. Developments underway to improve drug delivery and ensure better diagnostic accuracy.
Nanotechnology is now being used to develop smart pills that will increase the effectiveness of treatment. Special nano-robots are also introduced to assist and perform various surgical procedures. There have been major concerns about the side effects and shortcomings of using nanotechnology due to the less research being conducted. Players strive to dispel these doubts by increasing experimentation and research.
For example, researchers at the Massachusetts Institute of Technology, Draper, and Brigham and Women’s Hospital have unveiled the design of an unmanageable capsule that can be controlled using wireless technology – Bluetooth. The design of this capsule can be customized to sense environmental conditions, deliver drugs, and live in the stomach for nearly a month, relaying information to users and responding to instructions they share through smartphones.
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Some of the major players in the healthcare nanotechnology market are
Thermo Fisher Scientific Inc.
Smith & Nephew Plc.
GE Global Research
Greiner Bio One International GmbH
Boston Scientific Society
Demant A / S
Key Questions Answered In Fact.MR’s Report On The Healthcare Nanotechnology Market
- Which regions will remain the most profitable regional markets for players in the healthcare nanotechnology market?
- What factors will induce a change in the demand for nanotechnology in healthcare during the evaluation period?
- How will changing trends impact the health nanotechnology market?
- How can market players seize the opportunities at hand in the health nanotechnology market in developed regions?
- Which companies dominate the healthcare nanotechnology market?
- What are the winning strategies of the players in the health nanotechnology market to gain strength in this landscape?
Valuable insights into the Nanohealth Technology Market report
In its latest report, Fact.MR presented a detailed analysis of the healthcare nanotechnology market along with an assessment for the years 2020-2030. In order to provide a better understanding, the market has been divided into several segments.
The market has been segmented by product into biochips, implantable materials, medical textiles and dressings, active implantable devices and others. On the basis of applications, the market has been divided into therapeutic applications, diagnostic applications, and research applications. The market is segmented on the basis of geography into North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa.
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