The nanotechnology in medical devices market is primed to amass substantial gains by 2030 owing to significant product penetration in disease treatment and prevention. In addition, prominent government initiatives undertaken to incorporate nanotechnology in the healthcare sector, along with the expanding geriatric population, are likely to further propel market growth over the forecast period.

During the COVID-19 pandemic, the industry witnessed a negative impact due to limitations on accessibility to a wide range of healthcare services, hampering customer reach. However, in the post-pandemic scenario, increased government support and mounting emphasis on R&D programs have elevated the demand for nanotechnology.

Additionally, soaring awareness pertaining to the potential uses of nanotechnology in varied industries, including tissue engineering and microelectronics, among others, has been lucrative for the product landscape. For instance, in 2022, the Engineering and Physical Sciences Research Council under the UK government invested ?29 million (around $33 million) in graphene and carbon nanotechnology research through university grants. The initiative is aimed at expanding the scope of application of nanotechnology in the healthcare sector.

Furthermore, key players in the nanotechnology in medical devices market have been engaging in strategic collaborations and partnerships, along with extensive research initiatives to strengthen their market position and expand their customer base, fueling market progress.

To cite an instance, in March 2022, Starkey and Special Olympics, the international non-profit organization, signed a global partnership agreement to enhance access to hearing health services worldwide for individuals with intellectual disabilities. This agreement was intended to help the company expand its product portfolio by incorporating the latest technologies comprising nanotechnology in its products.

The nanotechnology in medical devices market has been bifurcated in terms of product, end-use, indication, and region.

Based on product, the market has been divided into implantable medical devices, wound care, dental filling material, and others. The dental filling material segment is slated to capture a prominent revenue share by 2030 due to the high strength of nanomaterials used in dental fillings. The materials enhance the dentin & biomaterial bond, making them more effective than conventional materials.

With respect to indication, the nanotechnology in medical devices industry has been classified into hearing loss, dentistry, orthopedics, wound care, and others. The wound care segment is poised to showcase appreciable growth over 2022-2030 due to the low toxicity and antibacterial activity of wound care nanoparticles, such as silver, gold, and zinc, which is projected to encourage consumers to opt for nanotech wound care.

In the regional context, the Europe nanotechnology in medical devices market is speculated to account for a notable industry share by 2030 as a result of surging demand for minimally invasive surgeries and time- & cost-effective medical procedures in the region.