Nanomedicine Market Size to Hit USD 964.25 Billion by 2030

According to Nova one advisor, the global Nanomedicine market size is expected to hit around USD 964.25 billion by 2030 from valued at USD 377.40 billion in 2021 and growing at a CAGR of 11.14% from 2022 to 2030. Increase in research funding, rise in government support, improved regulatory framework, technological advancements, and surge in prevalence of chronic diseases are projected to drive the global nanomedicine market during the forecast period

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Rise in Prevalence of Chronic Diseases such as Cancer and Cardiovascular Diseases: Key Driver

• Cancer is a leading cause of death across the world. According to the International Agency for Research on Cancer, the worldwide cancer burden has increased to 19.3 million cases and 10 million cancer deaths in 2020. By 2040, the number of new cancer cases per year is anticipated to reach 34.5 million, with 20.4 million cancer-related deaths.
• Diet is one of the key risk factors that leads to increase in number of patients with obesity and high blood pressure. Hence, change in dietary habits results in rise in prevalence of cardiovascular diseases. According to the Centers for Disease Control and Prevention, heart diseases account for nearly 655,000 deaths in the U.S. each year.
• Aging is consistently reported as a major risk factor for neurodegenerative diseases. Therefore, surge in geriatric population contributes to the increase in number of patients with various brain diseases. An article published in the Journal of the Alzheimer’s Association indicated that the prevalence of Alzheimer’s dementia increases dramatically with age; 3% of people aged 65 to 74, 17% of people aged 75 to 84, and 34% of people aged 85 or older have Alzheimer’s dementia.
• Nanomedicine is widely used in the treatment of chronic diseases such as cardiovascular diseases, diabetes, cancer, dementia, and others, where it aids in the rapid metabolism of medications in the body. Hence, rise in prevalence of chronic diseases is expected to boost the growth of the global market.

Report Scope of the Nanomedicine Market

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Improvement in Nanomedicine Technology Boosts Market Growth

• Nanomedicine is a niche segment, with research & development as an integral part of the market. There is a need to identify and exploit the current technologies for nanomedicine such as nanocarriers, nanoparticles, and nanosensors to their full potential. Technologies such as targeted drug delivery, nanoparticle based diagnostic agents, and conjugated drug nanoparticles have already experienced an array of applications in the medical field.
• Development of new technologies such as nanorobots, molecular nanotechnology (MNT), and nanovaccinology will open up new areas of applications and drive the nanomedicine market. The implications of lab-on-chip technology will be quite beneficial for the healthcare diagnostics market due to increased accuracy with reduced sampling size. Use of biomaterials in bone grafts and replacement therapies has improved the success rate and reduced complications in this segment. Hence, enhancement in the nanomedicine technology is expected to augment the market.

High Cost of Nanomedicine Manufacturing R&D to Hamper Market

• The nanomedicine market is concerned about both research and manufacturing costs as well as market price for the end-user. For a developing organization, nanomedicine research & development requires a large amount of resources, which raises worries about receiving finances.
• Research activities involving new technology development require significant investment, which is expected to be received with significant profits by the innovator. Nanomedicine is a niche segment and requires high investment. This deters companies to enter the market due to uncertainty of receiving expected profit.

Rising Prevalence of Chronic Diseases to Boost Nanomedicine Market

Nanomedicine is widely used in the treatment of chronic diseases such as cardiovascular diseases, diabetes, cancer, dementia, and others, where it aids in the rapid metabolism of medications in the body. Hence, rise in prevalence of chronic diseases is expected to boost the growth of the global market. Although the fields of medicine and healthcare have undergone incredible developments in the past few decades, with the introduction of breakthrough products and therapies such as portable imaging devices, non-invasive surgical tools, and advanced medical sensors, there still remains a wide gap between patient needs and available treatments.

Advances in nanomedicine attempt at filling this gap. The promise of nanomedicines of delivering drugs at the target site in the right proportion and at the necessary rate of delivery will cater well to the needs of complicated disease conditions, significantly driving the global nanomedicines market. The market will also be significantly driven by the significant rise in the prevalence of chronic diseases across the globe.

Oncology a Lucrative Application Segment for Nanomedicine Market

The global naomedicine market is expected to witness tremendous growth opportunities due to rising incidences of oncology and chronic disorders across the globe. Due to rise in prevalence of cancer across the globe, nanomedicines plays an important role in the oncology segment. The vast rise in the number of cancer cases across the globe will continue to keep oncology one of the most lucrative application segments for nanomedicine over the forecast period as well. The nanomedicine market is significantly driven by factors such as increasing awareness among people about nanotechnology, rapidly increasing incidences of chronic illnesses, cancers, technological advancement, and rising investment in nanotechnology by government in several developing countries.

Rise in Awareness of Benefits of Nanomedicines Drives Global Market

Due to rising demand for nanomedicines, manufacturers are gaining lucrative growth opportunities in the global market. Nanomedicine is an expanding area of the healthcare industry, and is witnessing increasing acceptance in medical and healthcare applications. The global nanomedicine market features a low concentration of technology and nanomaterial suppliers. To lessen the brunt of the inevitable demand-supply gap resulting, owing to the low number of suppliers, manufacturers in the market mostly depend on long-term contracts with pre-negotiated terms and conditions for uninterrupted supply of raw materials in domestic markets. The vast funds required to excel in the technology- and research-driven field of nanomedicine have kept new players at a bay. The nanomedicine market is witnessing rapid growth due to increase in research and development activities across the globe.

Booming North America Nanomedicine Market

North America is expected to account for a major market share in the global nanomedicine market. Some of the major factors responsible for the market growth are well-established healthcare infrastructure and increasing number of biopharmaceutical companies in the region. The increasing prevalence chronic diseases all over the world demand for technologically advanced nanomedicines. The availability and adoption of nanomedical products such as nanorobots, DNA probes, monoclonal antibody-based immunoassays, nanosensors, and nanoparticle-based imaging agents are driving the market growth in nanomedicines. In addition, favorable regulatory environment is a key factor propelling the nanomedicine market in North America. Asia Pacific and Latin America are other attractive markets, which are poised to rise due to the increasing healthcare spending and improving healthcare facilities. This is due to economic growth, rise in spending capacity, surge in prevalence of cancers, and improvements in healthcare infrastructure.

Some of the prominent players in the Nanomedicine Market include:

• Sanofi SA
• Abbott
• Pfizer Inc.
• CombiMatrix Corporation
• GE Healthcare
• Celgene Corporation
• Johnson & Johnson Services Inc.
• Luminex Corporation
• Merck & Company Inc.
• Nanosphere Inc.

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Nanomedicine market

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
  • Metal & Metal Oxide Nanoparticles
  • Liposomes
  • Polymers & polymer drug conjugates
  • Hydrogel nanoparticles
  • Dendrimers
  • Inorganic nanoparticles
• Nanoshells
• Nanotubes
• Nanodevices

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Nanomedicine industry analysis from 2022 to 2030 to identify the prevailing Nanomedicine industry opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the global Nanomedicine industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global Nanomedicine industry trends, key players, market segments, application areas, and market growth strategies.

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