The utilization of the nanotechnology in medical equipment provides a lot of exciting possibilities. The usage can revolutionize the ongoing process of diagnosing and treating diseases in the coming years. The nanotechnology can enhance the disease diagnosis by operating in bioassay, monitoring devices and imaging. Nano technology’s compact size might let the automation of everyday work that was inaccessible beforehand owing to physical restrictions that in turn may reduce laborious work or required maintenance to be required by an individual to perform.
Increasing incidences of cardiovascular diseases
Increasing occurrences of diseases linked with bone, ear along with other internal organs of the body
Medical advancements as a result of implementation of enhanced technology
Swelled expenditure on R&D activities in the Nanotechnology field in addition to growing government support
The global market for nano healthcare technology for medical equipment will witness a remarkable CAGR of 9.6% during the period of projection, reaching a market valuation of close to US$ 9.2 Billion at the end of the year 2022.
However, high initial implementation costs in addition to time-consuming approvals for the product initiation are likely to impact the advancement of the global market.
The nano healthcare technology for medical equipment is segmented based on product type into biochips, medical textile and wound dressing, implantable materials, active implantable devices and others. The active implantable devices are expected to record a high CAGR of 10% during the assessment period, 2017-2022. Both implantable materials and biochip segments will be witnessing a robust growth rate by the end of the estimation period.
The various applications of the equipment in the overall market include research applications, diagnostics applications and therapeutic applications. The therapeutic applications segment is estimated for a higher growth pace by registering a CAGR of 9.9% throughout the said period.
The global market is analysed across six key regions namely North America, Latin America, Europe, Japan, Asia Pacific excluding Japan and Middle East and Africa. The North American market is expected to lead the overall market among other regions in terms of valuation and is projected for a robust CAGR of 10% during the estimation period followed by the APEJ region, projecting for a higher growth of 9.8% CAGR over the forecasted period.
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