The medical industry is always on the lookout for advanced solutions that can enhance patient outcomes and aid in providing innovative products to people in need. Presently, the application of graphene has risen widely in the industry. Due to the enhanced strength and thinness of the material, graphene is being utilized extensively for manufacturing bioelectric sensors, which are used for tracking cholesterol, hemoglobin, and glucose. The demand for graphene is also growing for sensors that are utilized for testing DNA.

Graphene is also being used in the healthcare sector in the production of therapeutic tools, prosthesis devices, dental implants, and treatment of cancer. Further research is being carried out for combining graphene nanomaterials along with medications, vaccine carriers, and nano adjuvants, in order to make the material more compatible with immune cells of humans. This surging demand for graphene in the healthcare industry is projected to result in the growth of the domain in the years to come.

The global graphene market is predicted to generate a revenue of $646.8 million by 2030, increasing from $87.5 million in 2019, progressing at a 20.2% CAGR during the forecast period (2020–2030), according to a study by P&S Intelligence. Graphene is available in the form of dispersion and powder, between which, the demand for powder form was higher in the past. Powdered form of graphene is preferred widely for sensors, printing technologies, and batteries, owing to which, its demand is expected to be higher in the coming years as well.

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Geographically, the largest demand for graphene was created in the Asia-Pacific region during 2014–2019. Medical, energy, and electrical & electronics industries are extensively making use of graphene in the region. Other than this, graphene is also finding applications in aerospace and automotive industries of countries including China, India, and South Korea. Other than this, North America is predicted to emerge as the fastest-growing graphene market in the coming years, owing to wide adoption of graphene for production of medical devices.

In conclusion, the market is growing due to the increasing applications of graphene in the medical industry.