Global Nanomedicine Market Insights Forecasts to 2032
- The Global Nanomedicine Market Size was valued at USD 174.13 Billion in 2022.
- The Market Size is Growing at a CAGR of 12.4% from 2022 to 2032.
- The Worldwide Nanomedicine Market size is expected to reach USD 564.15 Billion by 2032.
- Asia Pacific is expected To Grow the fastest during the forecast period.
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The Global Nanomedicine Market Size is expected to reach USD 564.15 Billion by 2032, at a CAGR of 12.4% during the forecast period 2022 to 2032.
Nanomedicine is a discipline of medicine that uses nanotechnology expertise to prevent and treat disease. The use of nanoscale materials in medicine, such as biocompatible nanoparticles and nanorobots, for diagnosis, transport, sensing, or actuation in a living organism is known as nanomedicine. Due to their tiny size, nanomaterials have new physicochemical features that differ from traditional bulk chemical counterparts. These qualities extend the spectrum of pharmaceutical development options. The nano formulation's physicochemical properties, which can alter pharmacokinetics like absorption, distribution, elimination, and metabolism, have the potential for more easily crossing biological barriers, toxic properties, and persistence in the environment and human body. Top-down and bottom-up techniques are used in the pharmaceutical manufacture of nanomaterials. The top-down process includes the mechanical or chemical breakdown of a bulk substance into smaller or smaller bits. The bottom-up approach, on the other hand, begins with atomic or molecular species, enabling precursor particles to grow in size through chemical reactions.
This research report categorizes the global nanomedicine market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global nanomedicine market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global nanomedicine market. Technological innovation and advancement will further optimize the performance of the product, enabling it to acquire a wider range of applications in the downstream market.
Global Nanomedicine Market Report Coverage
|Market Size in 2022:||USD 174.13 Billion|
|Forecast Period 2022-2032 CAGR:||12.4%|
|2032 Value Projection:||USD 564.15 Billion|
|Historical Data for:||2018-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||110|
|Segments covered:||By Modality, By Application, By Indication, By Molecule, By Region.|
|Companies Covered:||Abbott Laboratories, CombiMatrix Corporation, Celgene Corporation, Nanospectra Biosciences, Inc., GE Healthcare, Johnson & Johnson Services, Inc., Mallinckrodt Pharmaceuticals, Merck & Co., Inc., Pfizer, Inc., Teva Pharmaceutical Industries Ltd., Arrowhead Pharmaceuticals, Inc.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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The global nanomedicine industry is likely to have substantial development prospects due to the increased prevalence of cancer and chronic illnesses worldwide. Because of the global increase in cancer occurrence, nanomedicines play an essential role in the oncology segment. Also, manufacturers are obtaining significant growth prospects in the worldwide industry as demand for nanomedicines rises. Nanomedicine is a growing field of the healthcare business that is gaining popularity in medical and healthcare applications. Also, nanomedicine is often used in the treatment of chronic diseases such as cardiovascular disease, diabetes, cancer, dementia, and others, where it assists in the metabolism of drugs in the body. As a result, the rising prevalence of chronic illnesses is likely to fuel worldwide market expansion. Despite the introduction of new technologies and therapies such as portable imaging devices, non-invasive surgical tools, and advanced medical sensors in the last few decades, there is still a significant gap between patient needs and available treatments.
- In 2022, the treatment segment is dominating the market with the largest market share during the forecast period.
Based on modality, the global nanomedicine market is segmented into treatment and diagnostics. Throughout all segments, the treatment segment has the biggest revenue share over the predicted period. The potential for enhanced treatment effectiveness is one of the primary drivers for this industry. Nanomedicine provides unique prospects for improving medication and therapeutic agent distribution to specific areas inside the body, resulting in more effective therapies. Furthermore, nanomedicine provides targeted medication delivery by encapsulating or attaching therapeutic chemicals to nanoparticles or nanocarriers. These nanoscale delivery devices may be programmed to target specific cells, tissues, or organs, allowing for exact medication administration. By concentrating the medicine at the intended spot and restricting its exposure to healthy cells, this focused method improves therapeutic efficacy while minimizing unwanted effects.
- In 2022, the drug delivery segment is dominating the largest market share over the forecast period.
On the basis of application, the global nanomedicine market is classified into drug delivery, IVD, implant, & vaccine. Among these segments, the drug delivery segment is dominating the market owing to the rising rates of various chronic and infectious illnesses like cancer and COVID-19 as well as increased public awareness of the potential benefits of nanomedicines. Furthermore, an increase in investigation examining the possible applications of nanomedicines in medication delivery is propelling the segment. For example, in March 2023, researchers at Memorial Sloan Kettering Cancer Center and Mount Sinai Health System discovered a novel medication delivery technique for the targeted release of anti-cancer therapies for the treatment of pediatric brain tumors.
- In 2022, the oncology segment is influencing the market with the largest market share of 32.44% during the forecast period.
Based on the indication, the global nanomedicine market is segmented into oncology, infectious, cardiovascular, & neurological. Among these segments, the oncology segment has the biggest revenue share over the forecast period due to the rising frequency of cancer illnesses, a large number of cancer treatment products are currently in the clinical phases of development, as well as advancements in the introduction of therapeutic particles and devices. Clinical oncology also includes numerous active and passive cancer-targeting approaches within the nanomedicine business, which is predicted to increase throughout the projection period.
- In 2022, the nanoparticle segment is dominating the largest market share of 76.32% during the forecast period.
Based on molecules, the global nanomedicine market is bifurcated into different segments such as nanoparticles, nanotubes, & nanodevices. The nanoparticles segment is further bifurcated into metal & metal oxide nanoparticles, liposomes, polymers & polymer-drug conjugates, hydrogel nanoparticles, dendrimers, and inorganic nanoparticles. Among these segments, the nanoparticle category is dominating the market due to the benefits that various nanoparticles give, as well as the rising usage of metal and metal oxide particles in photodynamic therapy (PDT) for the treatment of infectious diseases and cancer. Several firms in this field are also working on developing revolutionary nanoparticle-based technologies. For example, NaNotics LLC began a research collaboration with Mayo Clinic in January 2022 to create a NaNot, a subtractive nanoparticle that selectively targets the soluble version of the immune inhibitor PD-L1, which is generated by tumors.
The nanotube segment is predicted to grow at a substantial CAGR of 10.90% between 2023 and 2030, due to increasing demand for nanotube products in several healthcare settings. Because of their ability to attach to chemical moieties in the form of scaffolds, these molecules can perform a wide range of functions. Incorporating carbon nanotubes into scaffolds for tissue engineering, for example, can increase scaffold characteristics and result in improved tissue regeneration. Such developing nanotube uses are propelling the nanotubes portion of the nanomedicine business forward.
Regional Segment Analysis of the nanomedicine market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
- North America dominating the market with the largest market growth during the forecast period
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North America is leading the significant market growth during the forecast period due to the presence of developing partnerships among enterprises operating in this field and nanomedicine start-up companies. Furthermore, the region benefits from government assistance as well as increased R&D investments. The country also features a large number of manufacturing enterprises that are engaged in active strategic efforts in the nanomedicine industry. To accelerate the development of its drug delivery development platform based on nanoparticles for the treatment of peripheral artery disease and other applications.
Asia Pacific is expected to experience high revenue market share over the forecast period. This can be linked to greater public awareness of nanomedicine and increased public engagement in nanoscience and nanotechnology consensus conferences. For example, the 9th International Conference on Nanoscience and Technology in China (ChinaNANO 2022) will be held in Beijing, China in August 2022. The purpose of the conference is to share scientific discoveries, advances in specific industry areas, technological innovations, and new opportunities and difficulties.
The report offers the appropriate analysis of the key organizations/companies involved within the global nanomedicine market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- Abbott Laboratories
- CombiMatrix Corporation
- Celgene Corporation
- Nanospectra Biosciences, Inc.
- GE Healthcare
- Johnson & Johnson Services, Inc.
- Mallinckrodt Pharmaceuticals
- Merck & Co., Inc.
- Pfizer, Inc.
- Teva Pharmaceutical Industries Ltd.
- Arrowhead Pharmaceuticals, Inc.
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- In March 2022, The University of Hong Kong (HKU) designed a photo-responsive nanomedicine to cure colorectal cancer using light. A near-infrared dye and a prodrug self-assemble to form the nanoparticles. Following intravenous injection, the nanoparticles may target colon tumors and release chemicals that destroy cancer cells when exposed to light. In vivo, imaging can be used to track this process in real time.
- In March 2021, a EUR 12 million financing deal was signed between Barcelona institutions and the University of Manchester's Nanomedicine Lab to strengthen the European medical nanotechnology sector.
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the Global Nanomedicine Market based on the below-mentioned segments:
Global Nanomedicine Market, By Modality
Global Nanomedicine Market, By Application
- Drug Delivery
Global Nanomedicine Market, By Indication
Global Nanomedicine Market, By Molecule
Nanomedicine Market, By Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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