Pune, March 24, 2023 (GLOBE NEWSWIRE) -- As per SNS Insider, the size of Nanomedicine Market was assessed at USD 170.47 billion in 2022 and is projected to reach USD 431.21 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 12.3% during the forecast period spanning 2023 to 2030.
Market Overview
Nanomedicine is a field of medicine that utilizes nanotechnology to diagnose, treat, and prevent diseases. It involves the use of engineered nanoscale materials, devices, and systems that have unique properties due to their small size and high surface area-to-volume ratio. These properties enable nanomedicine to interact with biological molecules and structures at the cellular and molecular level, which can potentially revolutionize healthcare.
Market Analysis
The emergence of new techniques in the field of nanomedicine is expected to revolutionize the administration of drugs and disease management, which in turn is expected to drive the adoption of nanomedicines in the market. Nanotechnology-based drug delivery methods are gaining widespread adoption due to their potential to significantly improve the efficacy and safety of therapeutics. This is particularly significant given the inefficiency of conventional therapeutics in treating many diseases. The development and commercialization of these novel techniques has the potential to transform the way diseases are treated, leading to better patient outcomes and improved quality of life. As a result, the nanomedicine market is expected to continue to grow in the coming years.
Key Company Profiles Listed in this Report Are:
Major Key Players are Pfizer Inc., Mallinckrodt plc, Teva Pharmaceuticals Ltd., Merck & Co., Inc., Johnson & Johnson, Abbott Laboratories, Invitae Corporation, General Electric Company, Leadient BioSciences Inc., DiaSorin S.p.A.
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Impact of Recession on Nanomedicine Market Growth
The impact of a recession on the nanomedicine market is difficult to predict and will depend on various economic, social, and political factors. While a recession may present challenges for the nanomedicine industry, it may also create opportunities for growth and innovation in the long term.
Nanomedicine Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 170.47 Billion |
| Market Size by 2030 | US$ 431.21 Billion |
| CAGR | CAGR of 12.3% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Nanomedicine Market: Key Segmentation | • By MODALITY (Diagnostics, Treatment) • By APPLICATION (Drug Delivery, Diagnostic Imaging, Vaccines, Regenerative Medicine, Implants) • By INDICATION (Clinical Oncology, Infectious Diseases, Clinical Cardiology, Orthopedics, Neurology, Urology, Ophthalmology, Immunology) |
| Key Regional Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
Key Regional Developments
North America has been identified as the dominant market for nanomedicine, and it is projected to maintain its leadership position throughout the forecast period. The growth of the nanomedicine market in the region can be attributed to the emergence of strategic partnerships between established companies and start-ups in this sector. Additionally, the significant contribution of North America's industrial sector can be attributed to the support provided by governmental bodies, as well as increased investments in research and development.
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Key Takeaway from Nanomedicine Market Study
- The diagnostics segment is poised to dominate the market in the coming years. The increasing demand for non-invasive and accurate diagnostic tools, the rising prevalence of chronic diseases, and the significant investment in research and development activities are some of the factors driving the growth of this segment.
- The clinical oncology segment is expected to be the largest revenue-generating segment in the market due to the high incidence of cancer and the growing demand for more effective and targeted cancer therapies. As more research is conducted and more nanomedicine-based therapies are developed, the clinical oncology segment is expected to continue to grow and generate substantial revenue in the market.
Recent Developments Related to Nanomedicine Market
- Nelson Mandela University's DSI-Mandela Nanomedicine Platform has recently made significant breakthroughs in the field of nanomedicine, which could potentially revolutionize healthcare as we know it. Their latest innovations include a nanoparticle-based diagnostic tool that can detect cancer and other diseases at an early stage, a nanorobot that can deliver drugs directly to cancer cells, and a nanosensor that can monitor the level of glucose in the blood of diabetes patients in real-time.
- Singaporean scientists have recently made significant progress in the diagnosis of non-alcoholic fatty liver disease (NAFLD). The disease is a growing health concern globally, and Singapore is no exception. In fact, Singapore has the highest prevalence of NAFLD in Asia. The use of MRE and DKI to diagnose NAFLD is a significant breakthrough as it is non-invasive and provides a more precise diagnosis.
Table of Contents – Major Key Points
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. PEST Analysis
8. Nanomedicine Market Segmentation, By Modality
9. Nanomedicine Market Segmentation, By Application
10. Nanomedicine Market Segmentation, By Indication
11. Regional Analysis
12. Company Profiles
13. Competitive Landscape
14. Conclusion
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