The nanotechnology healthcare market was valued to be worth USD 96 billion in 2012. It is anticipated to reach USD 196 billion at CAGR above 12.0 % over the forecast period (2014-2020).
Nanotechnology health care is defined as the repair, building, observation, & organizing of human body at molecular and sub microscopic stage with the assistance of nanodevices and nanostructure engineering. Diagnosis, therapy, and prevention of diseases are the purpose of its application.
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It is expected to aid the body in fighting diseases like cancer, musculoskeletal, diabetes, infectious diseases, cardiovascular, and neurodegenerative diseases. Alarming rise of these diseases is expected to boost market demand over the forecast period.
With the increasing geriatric population, governments’ and private institutions have encouraged growth and R&D related to nanostructure engineering. This will bridge the supply and demand gap and provide an impetus to market growth. Nanotechnology healthcare has emerged as healthcare trend holding massive opportunity for growth over the forecast period.
The nanotechnology healthcare market is bifurcated into applications and regions. It has wide range of applications related to repair, diagnosis, and therapy on human body. Based on this, it is divided into clinical applications, drug delivery applications, and molecular diagnostics in the field of oncology, cardiology, anti-inflammatory, neurology, and anti infective sectors.
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Oncology occupied 35% revenue share of the nanotechnology healthcare market in 2013. This can be attributed to high efficiency of nanomaterials along with the quality of these particles to pass the blood brain barrier. This contributes to advanced methods of cancer treatment, which is expected to boost market growth over the next 6 y ears. Cardiology applications are anticipated to rise the fastest over the forecast period owing to cardiovascular diseases.
North America has the biggest market accounting more than 38% revenue share globally in 2013. With provisions of external funding and highly sophisticated healthcare infrastructure, this facilitates growth and usage of superior products like nanorobots, immunoassays, nanoparticle imaging reagents. Asia Pacific will grow at a 14.2% CAGR over the next years. This is attributed to R&D tests conducted in developing economies of China and India.
Major industries of the nanotechnology healthcare market are Sigma-Tau Pharmaseuticals Inc., Merck& Company Inc., Teva Pharmaseuticals Industries Ltd., Johnson & Johnson, Pfizer Inc., and Celgene Corporation.
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