The global nanomedicine market is expected to reach USD 435.08 billion by 2028, according to a new report by Reports and Data. Increased global incidence of cancer coupled with growing prevalence of cardiovascular diseases is likely to be the key factors governing market growth. Based on the WHO statistics, in 2018 around 18.07million new cases were registered for cancer in 2018. Additionally, cancer accounted for around 9.5 million deaths in 2018. The incidence of cancer was significantly high and lied around 48.4 percent in Asia Pacific.
Nanomedicine is being increasingly adopted for the treatment of various diseases including cancer and cardiovascular disease. Apart from improved efficacy and safety, factors such as bio-availability and ability to deliver diagnostic and therapeutic agents to targeted sites are expected to stimulate market growth.
Asia Pacific is expected to be a key revenue generating region in the forecast period. The market is projected to grow at a CAGR of 13.8% in the forecast period. This can be mainly associated with increasing incidence of cancer in the region. Based on estimates, along with high incidence of cancer as compared to other regions, the mortality rate of cancer in Asia is also significantly high. In 2018, the mortality rate was around 57.3 percent for Asia Pacific while it was around 20.3 percent for Europe. Increasing number of deaths of cancer patients is likely to lead to a rise in the adoption of nanomedicine in the region. Moreover, success of nanomedicines in the treatment of heart diseases is also expected to be a major factor affecting demand in the region.
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Increasing development of on-demand, digitally enabled, and seamlessly connected clinician-patient interactions to manage patient base is expected to drive pharma and healthcare market in the coming years. After the COVID-19 outbreak there has been a number of foundational shifts in the healthcare system. Some of the examples include increasing consumer involvement in health care decision-making, the rapid adoption of virtual health & other digital innovations, increasing focus on utilization of interoperable data & data analytics, and increased public-private collaborations in therapeutics and vaccine development. The increased public-private collaborations for vaccine development has arisen due to high pressure of regional governments. Health care providers, and other stakeholders have invested heavily to quickly pivot, adapt, and innovate therapeutics.
Further key findings from the report suggest
- Dendrimers are expected to grow at a significant CAGR in the forecast period. These nano-devices have emerged as a powerful class of nanomaterials owing to their unique features. These nanoparticles are being opted as an efficient therapeutic strategy in the treatment of various neurological disorders.
- Asia Pacific market is forecasted to grow significantly in the coming years. Nanomedicines are projected to be opted for the treatment of cancer and cardiovascular disease in the region. Furthermore, efforts by government as well as medical institutes of the region are also anticipated to foster market demand. For instance: Recently in 2018, the Indian Council of Medical Research announced launching nano-medicine task force. The main aim of the scheme is to explore as well as convert nano-enabled technologies towards clinical applications.
- Key participants include Arrowhead Pharmaceuticals Inc. AMAG Pharmaceuticals, Bio-Gate AG, Celgene Corporation and Johnson & Johnson. Johnson & Johnson is a key player in the nanomedicine market. Under its subsidiary NanoMedical systems, the company offers silicon-based medical nanotechnology products which are utilized for providing improved biomarker detection for research, microbial surveillance, and diagnostics. The company has manufacturing facilities located across the U.S., Europe, Asia Pacific and Africa. As of 2017, while the company’s Pharmaceutical segment accounted for around 36.3 percent of the revenue of the company, the medical devices segment accounted for 26.6 percent of the total revenue.
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For the purpose of this report, Reports and Data have segmented global Nanomedicine Market on the basis of products, drug delivery system, application and region:
Product Outlook (Revenue, USD Billion, 2018-2028)
- Regenerative Medicine
- In-vitro diagnostics
- In-vivo diagnostic
Drug Delivery System Outlook (Revenue, USD Billion, 2018-2028)
- Injectable Nanoparticle Generator
- Carbon nanotube
Application Outlook (Revenue, USD Million, 2018-2028)
- Infectious diseases
Regional Outlook (Revenue, USD Billion, 2018-2028)
- North America
- Asia Pacific
- Latin America
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Major Highlights of the Nanomedicine Market Report:
- The Nanomedicine market analysis report offers an in-depth study of the potential market growth opportunities and challenges.
- The report dives deeper into the market and explains the dynamic factors bolstering market growth.
- The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.
- The report analyzes the Nanomedicine market presence across major regions of the world.
- It determines the production & consumption capacities and demand & supply dynamics of each regional market.
- The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.
- It provides company overview and SWOT analysis of each of the market players.
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Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
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