Ottawa, April 18, 2022 (GLOBE NEWSWIRE) -- The global nanomedicine market size was valued at US$ 377.37 billion in 2021. Nanomedicine is a subset of nanotechnology that entails the development of medicines on a molecular scale of illness detection, prevention, treatment, and potentially tissue and organ regeneration. It is possible to accomplish so through preserving and improving human health.
The nanomedicine provides a solid answer for a variety of life-threatening conditions including orthopedic issues, diabetes, cardiovascular and neurological disorders. These are multifunctional medications with programable features that aid in the development of nanodevices and nanoparticles for applications such as repair, construction, monitoring, and control of biological systems at the molecular level.
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Using nanoparticles to transport medications, light, heat, and other chemicals or certain type of cells is one application of nanotechnology in medicine that is currently being developed. The particles have been created to attract sick cells, allowing for direct therapy of particular cells. This approach helps to protect healthy cells in the body while also allowing for earlier illness identification.
The factors that are driving the growth of the global nanomedicine market include numerous technological developments in nanoscale technologies for improved diagnostic techniques. The nanorobotic systems and other new solutions are being used by pharmaceutical companies to administer nanomedicines effectively. Other factors such as improved healthcare infrastructure and considerable research and development activities in the field of biotechnology are expected to propel the nanomedicine market growth during the forecast period.
Scope of the Report
| Report Attributes | Details |
| Market Size in 2021 | USD 377.37 Billion |
| CAGR | 11% from 2022 to 2030 |
| Revenue Forecast by 2028 | USD 778.87 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2030 |
| Companies Covered | Sanofi SA, GE Healthcare, Abbott, Pfizer Inc., CombiMatrix Corporation, Celgene Corporation, Johnson & Johnson Services Inc., Luminex Corporation, Merck & Company Inc., Nanosphere Inc. |
Report Highlights:
- Based on the application, the regenerative medicinesegment dominated the global nanomedicine market in 2021 with largest market share. The goal of regenerative medicine is to create and implement treatments to mend tissues and organs and restore function that has been lost due to ageing, injury, disease, or abnormalities. In many aspects, the human body has the natural ability to heal itself.
- On the basis of indication, the oncological diseasessegment holds the largest market share the global nanomedicine market in 2021. Nanomedicine has the potential to change existing cancer therapy and diagnosis approaches in the field of oncology. Nanotechnology based cancer medicines and diagnostics have made significant progress, and there are countless fresh innovations in the process.
- North America is the largest segment for nanomedicine market in terms of region. The nanomedicine market’s expansion is fueled by an increase in the number of participants and widespread adoption of innovative technologies.
- Asia-Pacific region is the fastest growing region in the nanomedicine market. The region is expected to benefit from a strong government drive to expand healthcare facilities through insurance plans, which is expected to generate attractive economic prospects.
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Future of Nanomedicine Market
The unmet medical demands in developing countries are likely to provide growth prospects for global nanomedicine market players. In the upcoming years, developed and developing economies are likely to offer a large array of prospects for the nanomedicine market. This is owing to the fact that these countries’ economic progress has provided patients with increased purchasing power as a result of rising disposable incomes. The employment of innovative tools will be enabled by improved healthcare infrastructure, which will attract to the population’s significant unmet medical demands in the near future.
COVID-19 Impact Analysis:
- The utilization of nanotechnology opens up new possibilities for the development of revolutionary COVID-19 and other viral infection prevention, diagnosis, and treatment procedures.
- COVID-19 was managed through the development of nano based materials for treatments and vaccine development such as disinfectants, diagnostic systems, personal protective equipment, and nanocarrier systems.
Key Developments in the Marketplace:
- In January 2022, NaNotics LLC and Mayo Clinics announced a collaboration to create a NaNot that targets the soluble version of PD-L1, a tumor-induced immune inhibitor.
- A EUR 12 million grant was awarded in March 2021 to a collaboration between two Barcelona universities and the University of Manchester's Nanomedicine Lab to enhance the European medical nanotechnology industry.
- In October 2020, Medtronic PLC unveiled the Adaptix Interbody System, a guided titanium spinal implant with Titan nanoLOCK Surface Technology.
- In November 2015, Ablynx and Novo Nordisk established a global partnership and licencing agreement to develop and discover new medications using multi-specific nanobodies. This strategic agreement is predicted to promote the nanomedicine market's growth by increasing product net yearly sales.
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Market Segmentation
By Modality
- Treatments
- Diagnostics
By Application
- Drug Delivery
- Diagnostic Imaging
- Vaccines
- Regenerative Medicine
- Implants
- Others
By Indication
- Oncological Diseases
- Infectious Diseases
- Cardiovascular Diseases
- Orthopedic Diseases
- Neurological Diseases
- Urological Diseases
- Ophthalmological Diseases
- Immunological Diseases
- Others
By Nanomolecule Type
- Nanoparticles
- Nanoshells
- Nanotubes
- Nanodevices
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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