Nano Healthcare Technology Market: About the Report
The nano healthcare technology market will register growth as the demand for greater accuracy in diagnosis and precision in drug delivery rises. According to Fact.MR, despite witnessing supply-chain disruptions, the market will continue to rise amid COVID-19 crisis. Rising use of nanosensors to observe viruses at low concentration will propel growth. Fact.MR’s study offers a comprehensive overview of the global market and offers insights into key factors enabling growth across various segments, including key regions.
Nano Healthcare Technology Market Overview
Inclusion of nanotechnology in healthcare is an advancement that is intended to upgrade the efficiency of numerous healthcare platforms. From diagnosis to treatment, to prevention of various diseases, the advent of nanotechnology has offered notable opportunities to transform the field of healthcare. As a result, the nano healthcare technology market is showcasing robust growth.
Government Initiatives Favoring Growth
Increasing government initiatives and investments are primary factors that are encouraging the adoption of nanotechnology in healthcare. For instance, in 2003, Taiwan began its National Science and Technology Programme for Nanoscience and Nanotechnology. Taiwan also developed the world's first government-established system for verifying nano-products, Nano Mark. Since then, government spending on nanotechnology is increasing consistently in the country. With support from government continuing, the market is expected to pick up pace in the coming years.
Besides this, the rising geriatric population is expected to drive the market for nano healthcare technology. According to the World Health Organization (WHO), between 2015 and 2050, the percentage of the world's population aged over 60 years will approximately double from 12% to 22%. As the elderly population requires more patient-centric care and longer hospital stays, these factors will have a direct impact on the development of high-efficiency medical devices. This, in turn, will augment the growth of the market.
Demand for Improved Precision in Drug Delivery Propelling Growth
In case of modern medicines, a patient's body doesn't absorb the entire drug dose that is delivered. Using nanotechnology, drugs can be administered with greater precision to specific areas in the body. Thus, consistent efforts by the nano healthcare technology market players for improving target specification and enhancing the control of drug release are projected to propel the growth of the market.
Lack of Awareness about Nano Medicines Limiting Growth
There is a lack of understanding about how nanomedicines will react with different diseases in different patients. This draws attention to why nano-based devices are not invariably capable of improving the therapeutic output of drugs for each patient. This is a major challenge posing threat to the players operating in the market.
In addition to this, the high cost of nanotechnology-based medical devices is restricting their demand. This is restraining the growth of the market. Besides this, the long and stringent product approval processes are hampering the growth of the market.
Regional Outlook of Nano Healthcare Technology Market
North America is an attractive market for nano healthcare technology. Growth witnessed in the region is attributable to the presence of advanced healthcare system and a large number of nanotechnology-based medical device manufacturing companies.
Furthermore, the implementation of government programs for the development of nanotechnology are fostering the market growth. For instance, the National Institutes of Health (NIH) I-Corps, is a program that attempts to develop and nourish the national biomedical innovation ecosystem. The program is centered on giving training to researchers and technologists on how to interpret technologies from the lab into the marketplace. However, unfavorable healthcare reforms in the countries such as the U.S. on issues associated with the use of implantable medical devices and the high cost of implants are limiting the growth of the market in North America.
Asia Pacific is one of the lucrative markets for nano healthcare technology. Growth witnessed in the region is attributable to the rapid growth in the life sciences industry in countries such as China and India. Furthermore, industry-government collaboration and life sciences workforce are likely to tap the post-COVID opportunities, which is a major forthcoming trend that the market is forecast to benefit from. Besides this, growth in biotechnology and pharmaceutical research and low infrastructure costs are some major factors impelling the growth of the market in Asia Pacific.
Besides North America and Asia Pacific, Europe is another market holding a sizeable share in the global nano healthcare technology market. Growth registered is primarily attributable to implementation of programs that are intended to support the region's competitiveness through stimulated market uptake of nanotechnology-based products. One such program is Horizon 2020. The program aims to reduce the gap between nanotechnology research and markets. It further intends to achieve a potential contribution to sustainable growth, highly skilled jobs, and increased quality of life in Europe.
Nano Healthcare Technology Market Insights by Product
According to Fact.MR, in terms of product, active implantable devices are expected to witness a surge in demand during the forecast period. As per the WHO, cardiovascular diseases (CVDs) are one of the common causes of deaths globally, accounting for nearly 17.9 million lives each year.
Hence, the development of subcutaneous implantable cardioverter defibrillators is offering lucrative growth opportunities to this segment. Besides this, increasing cases of neurological diseases, increasing applications of neurostimulators, and implementation of favorable reimbursement strategies for ENT procedures in developed countries are some of the factors propelling the growth of this segment.
Besides this, the biochips segment is projected to exhibit a notable growth through the forecast period. Growth witnessed in this segment is primarily attributable to the development of targeted and personalized medicines for the treatment of cancer.
Nano Healthcare Technology Market Insights by Application
Based on application, the therapeutic applications segment is forecast to exhibit significant growth during the assessment period. Growth witnessed in the segment is mainly due to the rising adoption of digital therapeutics. The increasing prevalence of ear, bone, and eye diseases is further anticipated to encourage the growth of this segment.
Nano Healthcare Technology Market: Competitive Landscape
The global nano healthcare technology market is extremely competitive. Owing to the rising prevalence of cardiovascular and neurological diseases and the increasing aged population, the market for nano healthcare technology is offering attractive opportunities for growth. As a result, the market has been witnessing consistent rise in the number of newcomers in the field.
Established market players are adopting strategies such as mergers and acquisitions, collaborations, and research and development initiatives to expand their footprint globally.
For instance, Thermo Fisher Scientific, a leading manufacturer of biochips, has a strong presence in different countries across the globe. The company registered its leading position through the acquisition of Affymetrix Inc. in 2016.
Some of the leading players operating in the nano healthcare technology market include Stryker Corporation, Smith & Nephew, Inc., Affymetrix, Inc., 3M Company, St. Jude Medical, Inc., and PerkinElmer, Inc. among others.
The Analyst's Viewpoint
"The market for nano healthcare technology is extremely opportunistic owing to the growing aged population and rising incidence of diseases such as cancer, cardiovascular and neurological disease. Besides this, the ongoing COVID-19 pandemic has further augmented the demand for several nanotechnology-based medical devices."
COVID-19 Impact on Nano Healthcare Technology Market
The COVID-19 pandemic had a mixed impact on the nano healthcare technology market. Much like other markets, this market too faced supply chain disruptions. As a result, manufacturing of nanotechnology-based products has been hampered.
On the other hand, the pandemic introduced several new opportunities to the market. Besides its rising adoption in the treatment of several diseases such as cancers, cardiovascular ailments, and neurological diseases, nanotechnology is gaining immense popularity in the numerous procedures of the pandemic.
For instance, nanosensors are displaying a heightened capability to observe bacteria and viruses at very low concentrations. Owing to this, nanosensors are able to warn clinicians even before symptoms of coronavirus disease are seen in patients.
Furthermore, to reduce the accelerating global burden by Covid-19, an international collaboration between the University of Manitoba, Leibniz Research Institute for Molecular Pharmacology (FMP), the Free University of Berlin (FU), the Humboldt University (HU), the Robert Koch Institute (RKI) and the Charité university hospital in Berlin is created. The partnership has built a nanotechnology strategy to prevent virus growth that can be used to treat coronavirus disease, besides bird flu and other seasonal influenza.
Their collaborative efforts are giving tailwinds to the development of chemically engineered nanoparticle that surfaces flu viruses in a structure that prevents viruses from infecting host cells. Such developments are pointing towards the bright future of nano healthcare technology market.
Nano Healthcare Technology Market- Scope of the Report
A recent study by Fact.MR on the nano healthcare technology market offers a 10-year forecast for 2020 and 2030. The study analyzes crucial trends that are currently determining the growth of the nano healthcare technology market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders. The study also provides the dynamics that are responsible for influencing the future status of the nano healthcare technology market over the forecast period.
A detailed assessment of nano healthcare technology value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the nano healthcare technology market along with their product portfolios enhances the reliability of this comprehensive research study.
Nano Healthcare Technology Market: Report Summary
The study offers a comprehensive analysis on diverse features, including demand, product developments, revenue generation, and sales in the nano healthcare technology market across the globe.
A comprehensive estimate on the nano healthcare technology market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of nano healthcare technology during the forecast period. Price point comparison by region with global average price is also considered in the study.
Nano healthcare technology Market: Segmentation
Fact.MR has studied the nano healthcare technology market with detailed segmentation on the basis of by product, application, and key region.
Key Questions Answered in Fact.MR’s Nano Healthcare Technology Market Report
- Which regions will continue to remain the most profitable regional markets for nano healthcare technology market players?
- Which factors will induce a change in the demand for nano healthcare technology during the assessment period?
- How will changing trends impact the nano healthcare technology market?
- How can market players capture the low-hanging opportunities in the nano healthcare technology market in developed regions?
- Which companies are leading the nano healthcare technology market?
- What are the winning strategies of stakeholders in the nano healthcare technology market to upscale their position in this landscape?
Nano Healthcare Technology Market: Research Methodology
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the nano healthcare technology market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the preparation of nano healthcare technology market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the nano healthcare technology market report as a primary resource.
Nano Healthcare Technology Market: Analysis on Market Size Evaluation
The Nano healthcare technology market has been analyzed for each market segment in terms of value (US$ Mn).
Market estimates at global and regional levels for nano healthcare technology are available in terms of “US$ Mn” for value. A Y-o-Y growth contrast on prominent nano healthcare technology market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global nano healthcare technology market.
Nano Healthcare Technology Market: Inspected Assessment on Regional Segments
Key sections have been elaborated in the nano healthcare technology market report, which have helped deliver projections on regional markets. These chapters include regional macros (political economic and business environment outlook), which are expected to have a momentous influence on the growth of the nano healthcare technology market during the forecast period.
Country-specific valuation on demand for nano healthcare technology has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value and volume for emerging countries has also been included in the report.
Nano Healthcare Technology Market: In-depth Analysis on Competitive Landscape
The report sheds light on the leading manufacturers of marine adhesives, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the production of nano healthcare technology has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which include essentials such as product portfolio and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status and predicting the competition level in nano healthcare technology market. Prominent companies operating in the global nano healthcare technology market Stryker Corporation, Smith & Nephew, Inc., Affymetrix, Inc., 3M Company, St. Jude Medical, Inc., and PerkinElmer, Inc. among others.
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