According to QY Research Medical, the nanomedicine market size was estimated at $171,695.33 million in 2020 and is expected to surpass $393,046.52 million by 2030, registering a CAGR of 9.5% from 2021 to 2030.
According to QY Research Medical, the nanomedicine market size was estimated at $171,695.33 million in 2020 and is expected to surpass $393,046.52 million by 2030, registering a CAGR of 9.5% from 2021 to 2030.
Nanomedicine is the branch of medicine that applies knowledge of nanotechnology for prevention and treatment of diseases. Nanomedicine involves use of nanoscale materials, such as biocompatible nanoparticles and nanorobots for diagnosis, delivery, sensing, or actuation purposes in a living organism.
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Nanomaterials possess novel physicochemical properties that are different from conventional bulk chemical equivalents, owing to their small size. These properties greatly increase a set of opportunities in drug development. Physicochemical properties of the nano formulation, which can lead to alteration of pharmacokinetics such as absorption, distribution, elimination, and metabolism, has the potential for more easily crossing biological barriers, toxic properties, and their persistence in the environment and human body. Pharmaceutical manufacturing of nanomaterials involves two different approaches that include top-down and bottom-down. The top-down process involves breakdown of a bulk material into a smaller one or smaller pieces by mechanical or chemical energy. Conversely, the bottom-down process starts with atomic or molecular species allowing precursor particles to increase in size through chemical reaction.
Growth of the nanomedicine market is driven by emerging innovative technologies for drug delivery, advantages of nanomedicine in various healthcare applications, and growth in need for safe and cost-effective therapies.
Scope of the Report
| Report Coverage | Details |
| Market Size in 2020 | $171,695.33 Million |
| Revenue Forecast by 2030 | $393,046.52 Million |
| CAGR | 9.5% from 2021 to 2030 |
| Base Year | 2021 |
| Forecast Data | 2022 to 2030 |
Moreover, rise in R&D studies regarding nanorobots in this segment, and significant investments in clinical trials by the government as well as private sector also contribute toward the growth of the market. However, the long approval process and risks associated with nanomedicines (environmental impact) are expected to hinder the market growth. Conversely, increase in out-licensing of nanodrugs and growth of healthcare facilities in emerging economies are expected to offer lucrative opportunities for growth of the market.
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Impact Of Covid-19 On Nanomedicine Market (Pre And Post Analysis)
Coronavirus (COVID-19) was discovered in late December in Hubei province of Wuhan city in China. The disease is caused by a virus, namely, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transmitted among humans. Amidst the initial outbreak of COVID-19, the outlook for the nanomedicine industry has changed significantly. The COVID-19 pandemic led to significant increase in demand for nanomedicines for treatment of various diseases. Applications of nanomedicine offered new opportunities for development of novel products for prevention, diagnosis, and treatment of COVID-19 virus and other viral infections. COVID-19 management was done with the development of nano-based materials, that included disinfectants, personal protective equipment, diagnostic systems, and nanocarrier systems for treatments and vaccine development. This impacted the market with increase in demand for nanomedicines. Overall, the impact of COVID-19 on the nanomedicine market was recorded to be fairly positive. This was attributed to increase in demand for nanomedicines in the treatment of cancer like diseases. Moreover, market players have experienced rise in investments in materials and resources, owing to increase in research and development activities in nanomedicines in all regions.
The nanomedicine market is segmented on the basis of modality, application, indication, and region. On the basis of modality, the market is segmented into diagnostics and treatment. On the basis of application, it is segmented into drug delivery, diagnostic imaging, vaccines, regenerative medicine, implants, and others. On the basis of indication, it is segmented into clinical oncology, infectious diseases, clinical cardiology, orthopedics, neurology, urology, ophthalmology, immunology and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Modality Segment Review
By modality, the global nanomedicine market is classified into diagnostics and treatment. The treatment segment was the major contributor to the global market in 2020, and is anticipated to remain dominant during the forecast period, owing to technological advancements in nanomedicines, increase in adoption of nanomedicines, rise in incidence rates of chronic diseases, and increase in number of advanced & effective product launches.
Application Segment Review
By application, the global nanomedicine market is classified into drug delivery, diagnostic imaging, vaccines, regenerative medicine, implants, and others. The drug delivery segment was the major contributor to the global market in 2020, and is anticipated to remain dominant during the forecast period, owing to increase in prevalence of diseases such as cancer and COVID-19 virus and increase in awareness of nanomedicines applications.
Indication Segment Review
By indication, the global nanomedicine market is classified into clinical oncology, infectious diseases, clinical cardiology, orthopedics, neurology, urology, ophthalmology, immunology and others. The clinical oncology segment was the major contributor to the global market in 2020, and is anticipated to remain dominant during the forecast period, owing to surge in number of oncology diseases and increasing disposable income.
Region Segment Review
North America accounted for a major share of the global nanomedicine market share in 2020, and is expected to remain dominant throughout the forecast period. This is attributed to increase in number of lethal diseases, surge in demand for nanomedicines, availability of advanced healthcare facilities with trained medical professionals, rise in number of R&D activities along with large presence of key players, and surge in investments made by governments in the healthcare system. However, Asia-Pacific is expected to experience the highest growth rate during the forecast period. Moreover, Japan and China are expected to grow at high CAGR in Asia-Pacific nanomedicine market majorly due to improvement in healthcare infrastructure, rise in number of hospitals equipped with advanced instruments, development of the R&D sector, rise in healthcare reforms, and technological advancements in the field of nanomedicines.
Key Benefits For Stakeholders
- This report provides a detailed quantitative analysis of the current nanomedicine market trends and forecast estimations from 2021 to 2030, which assists to identify the prevailing market opportunities.
- An in-depth nanomedicine market analysis includes analysis of various regions, which is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.
- A comprehensive analysis of factors that drive and restrain the growth of the global nanomedicine market is provided.
- The projections in this report are made by analyzing the current trends and future market potential from 2020 to 2030, in terms of value.
- An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
- Key market players within the nanomedicine market are profiled in this report and their strategies are analyzed thoroughly, which help in understanding competitive outlook of the market.
Key Market Segments
- By MODALITY
- Diagnostics
- Treatment
- By APPLICATION
- Drug Delivery
- Diagnostic Imaging
- Vaccines
- Regenerative Medicine
- Implants
- Others
- By INDICATION
- Clinical Oncology
- Infectious Diseases
- Clinical Cardiology
- Orthopedics
- Neurology
- Urology
- Ophthalmology
- Immunology
- Others
- By REGION
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- North America
- By Key Market Players
- Abbott Laboratories
- DiaSorinS.p.A.
- General Electric Company
- Invitae Corporation
- Johnson & Johnson
- LeadientBioSciences Inc.
- Mallinckrodt plc
- Merck & Co., Inc.
- Pfizer Inc.
- Teva Pharmaceuticals Ltd.
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QYResearch Medical, focuses on custom research, management consulting, IPO consulting, industry chain research, and data base & seminar services. The company owns large basic databases (such as National Bureau of Statistics Database, Customs Import and Export Database, Industry Association Database, etc.), expert resources (including industry experts who own more than 10 years experiences on marketing or R&D in industries of healthcare services, medical technology & devices, etc.), professional survey team (the team members obtained more than 3 years market survey experience and more than 2 years deep expert interview experience), and excellent data analysis team (SPSS statistics and PPT graphics process team).
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