Nanomedicine Market Size to Reach USD 435.08 Billion in 2028 – Reports and Data
Increasing incidence of chronic diseases, rising application of nanotechnology for diagnosis and treatment, and rapid development of advanced nanotherapeutics are some key factors driving market growth
The global nanomedicine market size is expected to reach USD 435.08 billion in 2028 at a CAGR of 12.6%, according to the latest analysis by Reports and Data. Rapid development of advanced nanotechnology-based therapeutics, growing application of nanomedicine in diagnosis, prevention, and treatment of diseases, and increasing burden of chronic and complex diseases across the globe are key factors expected to drive market revenue growth over the forecast period. In addition, nanomedicine facilitates oral drug delivery which has assisted in overcoming difficulties associated with inefficient absorption of oral drugs used in the treatment regimen of neurological diseases such as Alzheimer’s disease and Parkinson’s disease. This has been boosting its demand for the treatment of severe neurological disorders and complex CNS disorders and is expected to further contribute to revenue growth of the market going ahead.
Nanomedicine refers to the application of nanotechnology and nanomaterials for diagnosis, monitoring, control, prevention, and treatment of severe and chronic diseases. Over the recent past, the revolutionary technology has been applied in numerous fields and a large number of applications and products having nanomaterials or having nano-based claims are now available. Nanomaterials have distinct physiochemical properties due to their small size which has increased opportunities for its use in drug development. Integration of nanomaterials in biology has accelerated the development of diagnostic devices, contrast agents, physical therapy applications, and drug delivery vehicles. Drug delivery using nanomaterials has significantly maximized bioavailability and lowered the risk of side-effects which has improved the efficacy of drugs. Several nanotechnology-based drugs are in clinical trials for diseases such as cancer, to prevent organ rejection after transplantation process, and for treatment of HIV-1 in adults.
Increasing prevalence of chronic disease such as cardiovascular disorders, diabetes, and cancer are expected to boost demand for nanomedicines going ahead. Rising potential of nanotechnology in in vivo imaging to improve contrast and distribution in ultrasound and MRI have enhanced diagnosis and determine the distribution and metabolism of drugs in the body. This is also a key factor expected to contribute to market revenue growth going ahead. However, increasing concerns related to toxicity and environmental impact of nanomaterials and stringent regulatory approval procedures are expected to hamper market growth to a certain extent over the forecast period.
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Some Key Highlights from the Report:
- Therapeutics segment is expected to account for largest revenue share in the global market owing to rapid development of nanoemulsions and nanoformulations to address issues related to non-specificity and cell membrane barriers. Increasing preference of nanotechnology-based therapeutics over conventional therapeutics to treat a variety of diseases is also expected to contribute to revenue growth of this segment.
- Dendrimers segment is expected to register significant revenue growth over the forecast period owing to their attribute of being the most effective drug delivery option for nanomedicines due to their unique structure. Dendrimers can carry bioactive compounds in the internal space of the nanostructure allowing for a controlled-release of the drug.
- Oncology segment is expected to register a robust revenue CAGR over the forecast period owing to rising incidence of cancer and increasing application of nanoparticles in cancer therapeutics to effectively deliver drugs to target locations with zero off-target effects or harm to surrounding healthy tissues.
- Asia Pacific is expected to register a robust revenue CAGR of 13.8% during the forecast period owing to increasing burden of cancer, rapid advancements in nanomedicine in treatment of cardiovascular and other chronic diseases, rising investment to establish state-of-the-art healthcare infrastructure, and presence of key pharmaceutical companies in the region.
- Major companies in the market include Pfizer Inc., Ablynx NV, Nanotherapeutics Inc., Nanoviricides Inc., Abraxis Inc., Arrowhead Research Inc., Celgene Corporation, Bio-Gate AG, and Merck AG.
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For the purpose of this report, Reports and Data has segmented the global nanomedicine market on the basis of product, drug delivery system, application, and region:
Product Outlook (Revenue, USD Billion, 2018-2028)
- Regenerative Medicine
- In-vitro diagnostics
- In-vivo diagnostic
Drug Delivery System Outlook (Revenue, USD Billion; 2018-2028)
- Injectable Nanoparticle Generator
- Carbon nanotube
Application Outlook (Revenue, USD Million; 2018-2028)
- Infectious diseases
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Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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