The latest market report published by Credence Research, Inc. “Global Nanobiotechnology Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2023,” the nanobiotechnology market was valued at USD 31,450.8 Mn in 2015, and is expected to reach USD 46,870.5 Mn by 2023, expanding at a CAGR of 8.7% from 2016 to 2023.
Nanobiotechnology market comprises of technologies such as bionanomaterials, nanoparticles, nanocrystals, quantum dots, liposomes, polymer structures dendrimers, nanopores, and intergrated nanostructures. The rising prevalence of cancer, increasing public awareness related to novel treatments for cancer, and constant technological upgradation in the field of nanotechnology research and development. The major restrains of this market especially in emerging and underdeveloped economies are scarcity of resources and mounting technological cost. However, rising demand from pharmaceutical domain is expected to open up novel growth opportunities within the forecast period. On the basis of application nanobiotechnology market is segmented into drug delivery, sequencing, biologic imaging, research tools and microbicide. Biotechnology and pharmaceutical industries are expected to remain the largest end-users of nanobiotechnology.
Market experts suggested that drug delivery is the most crucial pharmaceutical application and now is the most focused area in nanobiotechnology. In drug delivery application apart from solving solubility issues of drug it also assists to enhance intracellular delivery possibilities and the level of skin permeability in transdermal drug delivery. Nanobiotechnology has multitude of potentials for advancing medical science, thus, developing health care practices around the world. Nanobiotechnology is currently in initial stage and a few clinical applications of nanotechnology are still practically inexistent. However, a significant number of promising medical projects are ongoing at advanced experimental stage.
Browse the full report Nanobiotechnology Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2022 report at http://www.credenceresearch.com/report/nanobiotechnology-market
Market Competition Assessment:
The nanobiotechnology market is observed as the most diversified and competitive market comprising large number of players. The market is dominated by several players, depending on their major competencies. The key players in this market are Aduro BioTech, Calando Pharmaceuticals Inc., Baxter International, Inc., Fresinuns Kabi AG, Smith & Nephew plc, Biosante Phosphate Pharmaceuticals Inc., Celgene Corporation, Elan Pharmaceuticals Inc., Flamel Technologies Inc., Nanophase Technologies Corporation, Sigma Aldrich Company, Dendritic Nanotechnologies Inc. and SkyePharma Pharmaceuticals.
Key Market Movements:
- Asia-Pacific was observed as the fastest growing region throughout the forecast period 2016 – 2023 due to rising public awareness related to cancer diagnosis and treatment, developing healthcare services and research and development infrastructure, and high market penetration and acceptance of novel treatment technologies
- Drug delivery is the most crucial pharmaceutical application and now is the most focused area in nanobiotechnology
- Nanobiotechnology possess the capability to develop breakthrough interface systems between physical objects and living cells to allow interaction of modern electronic devices with biological systems
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