Nanodevices have been introduced via use of nanotechnology and they have been of significant aid for the healthcare applications. The Nanodevices can be defined to be in the size ranging within the dimensions of 100 nm in size. Growing importance of diagnostics and demand for early detection with quick turnaround time has triggered the growth of their application in medical and diagnostic devices.

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The major advantages of Nanoscale devices are as below:

  • The sample required is minimal
  • Less reagents required
  • Multiple tests can be performed on single platform for example a Lab on Chip
  • It provides high through put analysis
  • Provides economies of scale through use of disposable chips

Not only this the nano-technologically designed have been reported to be advantageous especially for medical imaging and nanotools. The use of nano particles for amplification of the tumor cells. The application of these nanostructured contrast agents used for imaging has reduced the dosage volume and human biases thus producing better outcomes.The pharmaceuticals have also ventured into this segment and are using nanotechnology to produce Nanodrugs. It is not the companies are aiming in providing of nanostructured materials in the medicine however, they are adoption of this technology has been for nanoparticle delivery system especially for treatment of cancer.

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In the geographical perspective, North America followed by Europe are the largest markets for nanoscale devices owing to the growing research and development initiatives as well as commercialization of technologically advanced medical products. However, other counties such as Japan, India, Singapore, China, Brazil, Germany, Italy and South Africa are expected to witness sluggish growth due to the low adoption rate of nanoscale devices.

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The primary factors contributing in the growth of this market are increased incidence of medical conditions such as cancer and diabetes. Moreover, development of technologically advanced products such as quantum dots nanocrystals and silver nanoparticles heightened the demand for nanoscale devices in the field of biomedical science. However, high development cost and stringent regulatory policies might hamper the growth of the overall nanoscale devices market.

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Some of the companies involved in the development of nanoscale devices market are 3rdTech Inc., Agave BioSystems, Anosys Inc., Baxter Healthcare, BioForceNanosciences, LifeSensorsInc.,Quantum Dot, Triton BioSystemsInc. and Zeptosens AG.