Nanomedicine Market: An Overview of Growth Factors and Future Prospects

Nanomedicine is essentially based on the medical application of nanotechnology in diagnosing, treating and/or prevention of diseases and infections. Nanotechnology-based drugs and treatments are applied for treating cardiovascular, neurological, and oncology diseases.

Nanomedicine is based on the utilization of knowledge pertaining to various nanoparticles, their medical usages, and their actions within the human body.

There still exists considerable scope for research in this domain, and scientists are currently engaged in further studying the treatment-worthiness of a number of nanoparticles such as fullerenes, dendrimers, drug conjugates, and nano crystals.
It is important to note that this area of medicine is still in its nascent stage mainly because it is a niche research area and it receives comparatively less research funding.

Future prospects of the nanomedicine market

A research report by Transparency Market Research, a U.S.-based market research company, projects that the nanomedicine market will be largely driven by partnerships between global research firms and leading industry institutes. These collaborations will play a crucial part in attracting more investments. The report states that the global market for nanomedicine is projected to witness a compounded annual growth rate (CAGR) of 12.3% between 2013 and 2019.

Oncology – a significant segment within the nanomedicine market

According to the market research report by Transparency Market Research, oncology was the largest application segment within the nanomedicine market with a total share of 38%. This is attributed to the large scale focus on developing drugs and treatments for cancer, and the fact that approved nanomedicine drugs also exist in the market.

However, cardiovascular applications of nanomedicine are regarded as being the fastest-growing segment within the nanomedicine market. A large number of people being affected by cardiovascular problems worldwide, and the availability of various devices catering to the needs of this patient segment are growth influencers in this market.

In addition, there has been a perceptible increase in support from various governments in bolstering research as well as product approvals within the nanomedicine segment; with this support likely to continue, the market for nanomedicine will continue to grow.

The need for research, investment and collaboration in the nanomedicine market

In the coming years, it is expected that further collaborations between academic institutes as well as research firms will provided a much-needed boost to the role of nanomedicine in chronic disease treatment.

Research and breakthroughs could lead to the emergence of new treatments and technologies, with more bioavailability.
Other factors such as a growing demand and acceptance of targeted drug delivery (especially where neurological disorders are concerned) has created a larger market for nanomedicine.

On the other hand, the prevalence of cardiovascular diseases is on the rise, and this trend asks for the introduction of drugs that possess higher efficiency and better therapeutic properties. This is yet another need that will propel demand for nanomedicine products.

Nanomedicine has already met with some success in oncology, and researchers and market players alike are buoyed by this success. Having realized the efficacy of nanomedicine in oncology, it is likely that the interest shown by market players to commercialize products in this segment will only rise.

It is projected that cardiovascular treatments are likely to emerge as the fastest growing market within the nanomedicine market between 2013 and 2019.

Increased collaboration between academic and research institutes will prove favorable for the nanomedicine market. A noteworthy example of this would be the collaboration between Elan Corporation Plc and Abbott Laboratories for the development of the Tricor drug. This collaboration was key to helping both players lower cost associated with research and development.

Looking forward, market analysts expect that breakthroughs in nanomedicine will be crucial to the development of treatments and products for diseases such as diabetes, cancer, neurological disorders, and cardiovascular diseases.

Nanomedicine Market Will Reach USD 177.60 Billion By 2019

Nanomedicine Market Will Reach USD 177.60 Billion By 2019

Nanomedicine Market (Neurology, Cardiovascular, Anti-inflammatory, Anti-infective, and Oncology Applications) – Global Industry Analysis, Size, Share,Growth, Trends and Forecast, 2013 – 2019

Nanomedicine

Transparency Market Research is Published new Market Report Nanomedicine Market (Neurology, Cardiovascular, Anti-inflammatory, Anti-infective, and Oncology Applications) – Global Industry Analysis, Size, Share,Growth, Trends and Forecast, 2013 – 2019,” .The market for nanomedicine was valued at USD 78.54 billion in 2012 and is expected to reach a value of USD 177.60 billion in 2019, growing at a CAGR of 12.3% from 2013 to 2019.

Browse the full report with complete TOC at http://www.transparencymarketresearch.com/nanomedicine-market.html

The advent of new applications and technology in the field of nanomedicine will be one of the major growth factors for the global nanomedicine market. In addition, increase of funding aimed at boosting the research activities pertaining to nanomedicine by the government as well as private institutions will expedite the process of commercialization of new products and hence will drive the market. Other driving factors include rising base of geriatric population, presence of high unmet medical needs and rising worldwide incidences of chronic diseases.

The global nanomedicine market by applications was dominated by the oncology market with a market share of approximately 38.0% in 2012 on account of the presence of high number of commercialized products in this segment. Development of nanomedicine products enabling drugs crossing blood brain barrier and targeting the tumor in brain and at other sites in the body will prove to be a significant future growth driver for this market.

Browse the full report PDF with TOC : Nanomedicine Market – Global Industry Analysis,Size,Share,Growth, Trends and Forecast, 2013 – 2019

However, the global cardiovascular market for nanomedicine is the fastest growing application segment. Factors such as the presence of large patient prevalence coupled with rising demand for nanotechnology enabled drugs and devices catering to this segment, attribute to its high growth rate.

North America dominated the market in 2012 and is expected to maintain its market position till 2019. However, theAsia-Pacific market is estimated to grow at a faster pace (CAGR of 14.6% from 2013 to 2019).Europe is expected to grow at a relatively higher rate compared to North America owing to constantly improving regulatory framework and the presence of an extensive product pipeline portfolio.

Some of the key players in the global nanomedicine market include GE Healthcare, Merck & Co Inc., Abbott Laboratories, Pfizer Inc., Nanosphere Inc., Mallinckrodt plc, Teva Pharmaceutical Industries Ltd., Sigma-Tau Pharmaceuticals Inc., Celgene Corporation, Novavax, Inc.; Life Technologies, MagArray, Inc., Gilead Sciences Inc. and others.

The global nanomedicine market is categorized into the following segments:

  • Nanomedicine Market by Application
    • Neurology
    • Cardiovascular
    • Anti-Inflammatory
    • Anti-Infectives
    • Oncology
    • Others

Nanomedicine Market by Geography

    • North America
    • Europe
    • Asia-Pacific
    • Rest of the World (RoW)

 

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