Nanomedicines Market to be Valued USD 242655.19 Million by 2027
Increasing demand for personalized medicines across the globe to drive the growth of global nanomedicines market.
According to Techsci Research report, “Nanomedicines Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”. The nanomedicine market stood at USD151259.26 million in 2021 and is expected to grow at a CAGR of 8.28% during the forecast period on account of growing prevalence of cancer and genetic and cardiovascular diseases.
The nanomedicine market is anticipated to grow during the forecast period because of increasing cancer, genetic, and cardiovascular disease prevalence, breakthroughs in nanoscale diagnostic technology, and a growing preference for personalized treatments. Nanotechnology opens new possibilities for developing revolutionary COVID-19 and other viral infection prevention, diagnosis, and treatment procedures. COVID-19 was managed by creating nano-based materials for treatments and vaccine development, such as disinfectants, personal protective equipment, diagnostic systems, and nanocarrier systems.
Cancer, Parkinson's disease, Alzheimer's disease, diabetes, orthopedic ailments, and diseases of the blood, lungs, and cardiovascular system are just a few of the life-threatening disorders that nanomedicine can help with. According to Alzheimer's Disease International, 50 million people worldwide will get dementia by 2020. As a result, the rising prevalence of dementia is likely to raise demand for effective nanomedicine-based treatments in dementia management, propelling market expansion.
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The global nanomedicine market is segmented based on nanomolecule type, nanoparticles type, application, disease indication and regional distribution. Based on nanomolecule type, the market can be bifurcated into nanoparticles, nanoshells, nanodevices, nanotubes. The nanoparticles segment is dominating with a share of 39.80% in 2021. This can be due to increased solubility by drug nanoparticles and hence better bioavailability due to their tiny size and huge surface area, as well as the capacity to pass the blood-brain barrier (BBB) and enter the pulmonary system, absorbed through the skin's tight connections. Based on nanoparticle type, the market can be segmented into Polymer-based, Lipid-based, Nanocrystals, Inorganic, Others. Polymer-based nanoparticles held the largest market share in 2021. It is one of the fastest-growing segments during the forecast period owing to certain advantages such as controlled release at desired sites, stability to labile molecules, and the ability to modify surfaces with ligands for stealth and targeted drug delivery purposes. Based on application, the market is further divided into drug delivery, vaccines, diagnostic imaging, regenerative medicine, and others. Drug delivery is dominating the market in 2021 and will be the fastest growing with a CAGR of 9.53%. Nano molecules are majorly used for drug delivery purposes for anti-cancer drugs, including paclitaxel, doxorubicin, 5-fluorouracil, and dexamethasone have been successfully formulated using nanomaterials. Based on disease indication, the market can be segmented into oncological, infectious, orthopedic, cardiovascular, and others. Nanomedicine has shown promising results in the treatment of cancer. Cancer is becoming more common over the world. According to GLOBOCAN, the worldwide cancer burden in 2020 will climb to 19.3 million cases and 10 million cancer deaths.
Key market players in the global nanomedicine market include:
· Pfizer Inc.
· Janssen Pharmaceuticals
· Sanofi S.A.
· Amgen Inc.
· Moderna, Inc.
· Novo Nordisk A/S
· Genentech, Inc
· Celgene Corporation
· Vifor Pharma Ltd.
· Teva Pharmaceutical Industries Ltd.
The nanomedicine market is a fragmented market with few established players and many regional and domestic players. Additionally, there are other prominent players operating in the market in the global nanomedicine market. To compete in the market, businesses are employing novel techniques. Mergers and acquisitions, collaborations and partnerships, and new product launches are among the strategies used by various market participants to stay competitive and get an advantage over their competitors.
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“North America accounted for the largest market share of the nanomedicine market during the forecast period due to technological improvement, in combination with applicable applications in early illness detection, prevention, and prophylaxis of chronic and acute disorders, which are likely to drive the market expansion in the United States. Furthermore, various R&D activities on nanotechnology-based medications and diagnostics are occurring in the country, which could fuel market expansion. An increase in participants and widespread adoption of innovative technologies is fueling the market’s growth.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.
“Nanomedicine Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Nanomolecule Type (Nanoparticles, Nanoshells, Nanodevices, Nanotubes), By Nanoparticles Type (Polymer-based, Lipid-based, Nanocrystals, Inorganic, Others), By Application (Drug Delivery, Vaccines, Diagnostic Imaging, Regenerative Medicine, Others) By Disease Indication (Oncological Diseases, Infectious Diseases, Orthopedic Disorders, Cardiovascular Diseases, Others), By Region and Competition Forecast & Opportunities, 2027.” has evaluated the future growth potential of the global nanomedicine market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global nanomedicine market.
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