The global nanotechnology-based medical devices market is growing at a significant rate, due to expanding geriatric population and increasing government initiatives.
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The increasing government support, the escalating occurrence of age-related and lifestyle associated disorders such as cardiovascular diseases and hearing diseases, large-scale development in nanotechnology, the existence of well-structured delivery channels, and expanding geriatric population are the primary growth drivers for nanotechnology-based medical devices market.
For instance, according to the World Health Organization (WHO), globally in 2010 approximately 524 million people were aged 65 years and older and is expected to reach 1.5 billion in 2050.
North America is the largest nanotechnology-based medical devices market as in the region the geriatric population is increasing.
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Asia-Pacific is observed to witness the fastest growth in the market, as the region comprises of the large population base.
Key players in the nanotechnology-based medical devices market are catering to the demand of these devices by investing in technologically advanced products in their product portfolio across the globe.
3M Company, AAP Implantate AG, Smith & Nephew PLC, Dentsply Sirona Inc., Perkinelmer, Inc., Stryker Corporation, Mitsui Chemicals, Inc., and Starkey Hearing Technologies are the key players offering nanotechnology-based medical devices.
Source: VynZ Research