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Research report explores the +10% CAGR growth to be achieved by nanotechnology-based medical devices market

Research report explores the +10% CAGR growth to be achieved by nanotechnology-based medical devices market

The Nanotechnology in Medical Devices Market is projected to grow at a CAGR of +10% by 2021 According to new research the global nanotechnology-based medical devices market is classified on the basis of products and applications. On the basis of products, the market is categorized into biochips, implantable materials, medical textile and wound dressing, active implantable devices, and others. The implantable materials segment is bifurcated into dental filling materials and bone restorative materials. The active implantable devices segment is bifurcated into cardiac rhythm management devices, hearing aid devices, and retinal implants. On the basis of applications, the nanotechnology-based medical devices market is categorized into therapeutic applications, diagnostics applications, and research applications. The implantable materials segment is bifurcated into dental filling materials and bone restorative materials; while the active implantable devices segment is bifurcated into cardiac rhythm management devices, hearing aid devices, and retinal implants. On the basis of applications, the nanotechnology-based medical devices market is categorized into three major segments, namely, therapeutic applications, diagnostics applications, and research applications.

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In this report, the global nanotechnology-based medical devices market is segmented on the basis of products and applications. On the basis products, the nanotechnology-based medical devices market is categorized into biochips, implantable materials, medical textile and wound dressing, active implantable devices, and others.

The implantable materials segment is bifurcated into dental filling materials and bone restorative materials; whereas, the active implantable devices segment is bifurcated into cardiac rhythm management devices, hearing aid devices, and retinal implants. On the basis of applications, the nanotechnology-based medical devices market is segmented into therapeutics applications, diagnostics applications, and research applications.

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The Major players reported in the market include: 3M, Dentsply International, Mitsui Chemicals, Stryker, AAP Implantate, Affymetrix, Perkinelmer, ST. Jude Medical and Smith & Nephew.

 The active implantable devices segment accounted for the largest share of the market. Rising incidence of lifestyle and age-related disorders (such as cardiovascular and hearing disorders) has contributed significantly to the growth of the nanotechnology-based active implantable devices market.

In addition, availability of insurance coverage and reimbursement for medical procedures, presence of well-structured distribution channels, and growing out-of-pocket healthcare spending are further boosting the growth of the active implantable devices market.

The major players of the Nanotechnology-Based Medical Devices market were identified across regions, and their offerings, distribution channels, and regional presence are understood through in-depth discussions. Also, average revenue generated by these companies, segmented on the basis of region, is used to arrive at the overall market size.

This overall market size is used in the top-down procedure to estimate the sizes of other individual markets through percentage splits from secondary sources directories, databases, and primary research.

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The study of the value chain and analysis of the impact of Porter’s five forces on the market is also one of the objectives of the report which includes the study of the impact of the Porter’s five forces, namely, threat of substitutes, intensity of competitive rivalry, threat of new entrants, bargaining power of buyers, and bargaining power of suppliers on the market.

Making enterprises more customer-centric, sharpening focus on key initiatives that lead to entering new markets and creating new business models, and improving operational performance are three dominant factors driving the growth of the market.

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