New York, United States , Sept. 18, 2023 (GLOBE NEWSWIRE) -- The Global Nanomedicine Market Size is To Grow from USD 174.13 Billion in 2022 to USD 564.15 Billion by 2032, at a Compound Annual Growth Rate CAGR of 12.4% during the forecast period.
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Nanomedicine is a type of medicine that uses nanotechnology to prevent and treat illness. Nanomedicine is the use of nanoscale materials in medicine, such as biocompatible nanoparticles and nanorobots, for diagnosis, transport, sensing, or actuation in a live body. Nanomaterials have novel physicochemical properties that distinguish them from their bulk chemical equivalents due to their small size. These characteristics broaden the range of pharmacological development alternatives. The physicochemical features of the nano-formulation, which can modify pharmacokinetics such as absorption, distribution, elimination, and metabolism, can more readily penetrate biological barriers, have hazardous effects, and stay in the environment and human body. In the pharmaceutical manufacturing of nanomaterials, both top-down and bottom-up approaches are applied. The mechanical or chemical breakdown of bulk material into smaller or smaller pieces is a top-down process.
The global nanomedicine business is expected to have significant growth opportunities because of the rising frequency of cancer and chronic disorders globally. Also due to the global growth in cancer incidence, nanomedicines play an important role in the oncology segment. Furthermore, producers are seeing considerable development opportunities in the global sector as demand for nanomedicines develops. Nanomedicine is a burgeoning discipline of healthcare that is gaining interest in medical and healthcare applications. Moreover, nanomedicine is frequently employed in the treatment of chronic disorders such as cardiovascular disease, diabetes, cancer, dementia, and others, where it aids in medication metabolism in the body. As a result, the increased prevalence of chronic diseases is expected to boost global market growth.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the, "Global Nanomedicine Market Size, Share, and COVID-19 Impact Analysis, By Modality (Treatment and Diagnostics), By Application (Drug Delivery, IVD, Implant, & Vaccine), By Indication (Oncology, Infectious, Cardiovascular, & Neurological), By Molecule (Nanoparticle, Nanotube, & Nanodevice), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022– 2032." Get Detailed Report Here
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The treatment segment is dominating the market with the largest market share during the forecast period.
The global nanomedicine market is divided into two categories: treatment and diagnostics. The treatment segment has the highest revenue share across all segments throughout the forecast period. One of the key motivators for this business is the possibility of improved therapeutic efficacy. Nanomedicine offers novel opportunities for increasing drug and therapeutic agent delivery to particular parts of the body, leading to more effective therapy.
The drug delivery segment is dominating the largest market share over the forecast period.
The worldwide nanomedicine market is segmented by application into drug delivery, IVD, implant, and vaccination. Among these sectors, the drug delivery segment is leading the market due to the growing incidence of different chronic and infectious disorders such as cancer and COVID-19, as well as greater public awareness of the potential advantages of nanomedicines. Furthermore, growth in research into the potential applications of nanomedicines in drug delivery is boosting the industry.
The oncology segment is influencing the market with the largest market share of 32.44% during the forecast period.
The global nanomedicine market is classified into cancer, infectious diseases, cardiovascular diseases, and neurological diseases. The oncology segment has the highest revenue share over the forecast period due to the increasing frequency of cancer illnesses, a large number of cancer treatment products currently in the clinical stages of development, and advancements in the introduction of therapeutic particles and devices. Clinical oncology also comprises several active and passive cancer-targeting techniques within the nanomedicine industry, which is expected to grow over the projected period.
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The nanoparticle segment is dominating the largest market share of 76.32% during the forecast period.
The global nanomedicine market is divided into many divisions based on molecules, including nanoparticles, nanotubes, and nanodevices. Metal and metal oxide nanoparticles, liposomes, polymers & polymer-drug conjugates, hydrogel nanoparticles, dendrimers, and inorganic nanoparticles are subdivided within the nanoparticles section. The nanoparticle category is dominating the market owing to the benefits provided by different nanoparticles, as well as the increasing use of metal and metal oxide particles in photodynamic therapy (PDT) for the treatment of infectious illnesses and cancer. Several companies in this sector are also working on groundbreaking nanoparticle-based technology.
North America led the largest market revenue share over the forecast period
North America anticipates substantial market growth over the projection period due to the presence of expanding alliances between firms functioning in this industry and nanomedicine start-up organizations. Furthermore, the region benefits from government aid as well as increasing R&D expenditures. The country also has a big number of manufacturing businesses that are actively involved in strategic initiatives in the nanomedicine industry. To speed the development of its medication delivery technology based on nanoparticles for the treatment of peripheral artery disease and other uses.
Asia Pacific is predicted to have a large revenue market share throughout the forecast period. This can be attributed to growing public knowledge of nanomedicine as well as increased public participation in nanoscience and nanotechnology consensus conferences.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in Global Nanomedicine Market include Abbott Laboratories, CombiMatrix Corporation, Celgene Corporation, Nanospectra Biosciences, Inc., GE Healthcare, Johnson & Johnson Services, Inc., Mallinckrodt Pharmaceuticals, Merck & Co., Inc., Pfizer, Inc., Teva Pharmaceutical Industries Ltd., Arrowhead Pharmaceuticals, Inc., and Among Others.
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Recent Development
In January 2022, Pfizer Inc. and Acuitas Therapeutics announced a research and option agreement in which Pfizer would have the opportunity to license Acuitas' LNP technology on a non-exclusive basis for up to 10 targets for vaccine or therapeutic development.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the Global Nanomedicine Market based on the below-mentioned segments:
Global Nanomedicine Market, By Modality
- Treatment
- Diagnostics
Global Nanomedicine Market, By Application
- Drug Delivery
- IVD
- Implant
- Vaccine
Global Nanomedicine Market, By Indication
- Oncology
- Infectious
- Cardiovascular
- Neurological
Global Nanomedicine Market, By Molecule
- Nanoparticle
- Nanotube
- Nanodevice
Nanomedicine Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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