Nanotechnology in Medical Devices Market to hit USD 7 Billion by 2030, says Global Market Insights Inc.

Selbyville, Delaware, Oct. 19, 2022 (GLOBE NEWSWIRE) —

The nanotechnology in medical devices market value is poised to surpass USD 7 billion by 2030, according to a new research report by Global Market Insights Inc.

Prominent developments in the medical devices industry have accelerated the adoption rate of nanotechnology in these devices. Significant usage of nanotech for treating and preventing diseases is likely to drive the industry trends. Changing standards of living, along with rising government focus on strengthening the healthcare sector, are foreseen to amplify product penetration.

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High prices of nanodevices may hamper nanotechnology in medical devices market growth. The commercialization of nanodevices is challenging for manufacturers due to their elevated cost, which is restricting healthcare companies from incorporating nanotechnology in medical devices. However, the increasing government emphasis on fortifying the healthcare infrastructure, as well as improving treatment procedures, is foreseen to enable industry players to overcome this restraint.

Antiviral & antimicrobial attributes to push the demand for dental filling material

The dental filling material segment captured around 25% revenue share in 2021 and is estimated to reach USD 1.8 billion by 2030 due to several benefits of nanotechnology in dental fillings, such as enhancing the bond between dentin & biomaterial, ensuring a large surface area, and exhibiting antimicrobial & antiviral properties, among others. Moreover, numerous advantages viz., cost-effectiveness, timesaving options, ability to avert mental trauma in patients, durability, and so on are stimulating patients’ preference toward nanodentistry.

Browse key industry insights spread across 206 pages with 235 market data tables & 16 figures & charts from the report, “Nanotechnology in Medical Devices Market Analysis By Product (Implantable Medical Devices {Orthopedic Devices, Hearing Aids, Dental Implants}, Dental Filling Material, Wound Care), Indication (Dentistry, Orthopedics, Hearing Loss, Wound Care), End-use (Hospitals, Clinics), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/nanotechnology-in-medical-devices-market

Growing awareness about novel therapeutic approaches to aid hearing loss segment growth

Hearing loss segment is set to exceed USD 1 billion in revenue by 2030. This is attributed to the strong prevalence of hearing loss and increasing knowledge regarding novel treatment options. Nanotechnology-based hearing aids can alter a surface’s interaction with oils, sweat, moisture, earwax, and other fluids substantially.

Growing prevalence of orthopedic ailments to foster Europe industry outlook

Europe nanotechnology in medical devices market is anticipated to register 8% growth rate between 2022 and 2030. The significant rise in occurrences of orthopedic diseases, soaring preference for minimally invasive surgeries, and mounting adoption of nanotechnology in the healthcare sector in the region are set to raise regional business growth. In addition, government incentives towards providing better medical services and rigorous R&D initiatives are observed as potential driving factors propelling the industry landscape in Europe.

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Product development to remain a major growth strategy

The competitive scenario of the nanotechnology in medical devices market is inclusive of Straumann, Audina Hearing Instruments, Interton, Sebotek Hearing Systems, Coltene Whaledent, and Shofu Dental, among others. These companies engage mainly in product range diversification, production facility expansions, strategic acquisitions, collaborations, and mergers to enhance their market position.

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About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, US, is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.


        

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