According to the current analysis of Reports and Data, the global nanotechnologie market was valued at USD 9.60 Billion in 2021 and is expected to reach USD 27.05 Billion by the year 2030, at a CAGR of 12.1%. The study covers nanotechnologie, neuroscience, and biomedical engineering discipline, concerned with developing neural prostheses. Neural prostheses are assistive devices that can restore functions lost because of neural damage by substituting motor, sensory, or cognitive modality. Growing healthcare awareness all over the globe, rising prevalence of chronic diseases, a rise in the number of patients with nerve injuries and neurological diseases, an increasing number of road mishaps and accidents elevating the number of amputation cases, and rising hearing loss incidences, are some of the key factors propelling nanotechnologie market growth in the industry. However, non-favorable reimbursement scenarios, high cost of nanotechnologie, lack of skilled professionals, and availability of advanced alternative treatment options are the major hindrance to nanotechnologie market growth during 2019-2026. The nanotechnologie market is much fragmented, and major players are adopting various techniques to grow their range of product offerings. For instance, In June, Medtronic, a medical device company, announced a new outcomes-based agreement with Aetna, one of the largest healthcare companies in the States. The agreement focuses on patients who rely on multiple daily insulin injections for type 1 and type 2 diabetes.
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Some Key Factors Contributing to the Global Pharma & Healthcare Market Growth
Unprecedented revenue growth of the global pharma & healthcare industry is attributed to factors such as rising prevalence of chronic and acute diseases worldwide, increasing geriatric population, rising awareness of health & wellness among consumers, and growing demand for more advanced healthcare services. Increasing demand for advanced drugs and therapeutics, growing availability of next-generation diagnostics and treatment options – especially in developing countries like India and China – rise in R&D activities and clinical trials in the pharmaceutical and biotechnology sectors, increasing public and private investments in healthcare research projects, and rising consumer expenditure on healthcare are among the other significant factors contributing to the industry revenue growth.
Further key findings from the report suggest
- The nanotechnologie market is growing at a CAGR of 6 % in the Asia Pacific followed by North America and Europe, with 12.2 % and 12.1 % CAGR, respectively. The rising prevalence of chronic diseases and growing healthcare awareness all over the globe is the prominent factor to accelerate the nanotechnologie market growth during the forecast period across all regions
- As of 2018, Auditory Prosthetics/Cochlear Implants are the dominating nanotechnologie holding 36.7 % of the global market. Rising incidences of hearing loss are driving the growth of the market segment. European regional. The nanotechnologie market is the major revenue-generating source for this market segment, followed by North America and Asia-Pacific regions
- Motor Prosthetics is expected to be the fastest-growing market segment during the forecast period 2019-2026 with a CAGR of 12.8 %. However, associated side effects and high costs are major challenges for the nanotechnologie market growth of this market segment
- The deep brain stimulation technology type segment was valued at USD 1.06 billion in 2018 and is expected to reach USD 2.7 billion by 2026, growing at a CAGR of 12.1 %
- The Asia Pacific is anticipated to account for around 20 % of the global nanotechnologie market in 2018. Developing nations such as China and India are likely to witness significant nanotechnologie market growth owing to increasing healthcare awareness and increasing cases of amputation due to road mishaps and accidents.
- The high cost of nanotechnologie and lack of favorable reimbursement scenarios and skilled professionals is likely to hinder the nanotechnologie market growth during the forecast period
Top Players in the Global nanotechnologie Market:
Second Site, Boston Scientific Corporation, Medtronic, Inc., Neuropace, Cochlear Limited, Abbott, Sonova, NeuroPace, Inc., Cyberonics, Inc., and Nervo Corp.
The coronavirus pandemic has had a drastic impact on the global healthcare industry, with rising cases of COVID-19 worldwide, substantially growing hospital admission and readmission rates, and rising demand for telehealth and telemedicine services for remote patient monitoring. Furthermore, rising focus on the development of rapid COVID-19 diagnostics such as the RT-PCR test kits, increased government funding for vaccine development, stringent regulatory norms and protocols for COVID-19 safety, and increasing sales of COVID-19 safety equipment, such as N-95 masks, face shields, PPE kits, and hand sanitizers, have driven the global pharma & healthcare industry revenue growth over the recent past.
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nanotechnologie Market Segmentation:
Type Outlook (Revenue, USD Billion; 2019-2030)
- Output Neural Prosthetics
- Input Neural Prosthetics
Technique Outlook (Revenue, USD Billion; 2019-2030)
- Spinal Cord Stimulation
- Deep Brain Stimulation
- Vagus Nerve Stimulation
- Sacral Nerve Stimulation
- Transcranial Magnetic Stimulation
Application Outlook (Revenue, USD Billion; 2019-2030)
- Motor Neuron Disorders
- Physiological Disorders
- Cognitive Disorders
Global nanotechnologie Market Report: Regional Segmentation
- North America
- The U.S.
- The U.K.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Global nanotechnologie Market: Table of Contents
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.1. Primary Sources
1.4.2. Secondary Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
Chapter 3. Key Insights
Chapter 4. Global Pharma & Healthcare Market Segmentation
4.1. Global Pharma & Healthcare Market COVID-19 Impact Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers’ analysis
4.2.3. Market restraints analysis
4.3. Technological Insights
4.4. Porter’s Five Forces Analysis
4.5. Regulatory Framework
4.6. Price trend Analysis
4.7. Competitive Metric Space Analysis
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Frequently Asked Questions Answered in the Report:
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