Overview and Scope
Nanomedicine refers to the use of nanotechnology in medicine. It is described as substances with a size between 1 and 100 nanometers that, in the end, should be able to precisely target tumor cells or important immune cells. Nanomedicine is an important instrument that enables personalized, targeted, and regenerative medicine by delivering improved new drugs, treatments, and implantable devices to clinicians and patients.
Sizing and Forecast
The nanomedicine market size has grown rapidly in recent years. It will grow from $292.72 billion in 2023 to $335.25 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The growth in the historic period can be attributed to increased understanding of molecular biology, growing incidence of chronic diseases, demand for targeted drug delivery systems, expansion of nanoparticle imaging technologies, growing aging popuation.
The nanomedicine market size is expected to see rapid growth in the next few years. It will grow to $594.63 billion in 2028 at a compound annual growth rate (CAGR) of 15.4%. The growth in the forecast period can be attributed to continued growth in nanotechnology research, rising investments in nanomedicine r&d, increasing focus on personalized medicine, expanding applications of nanomedicine in cancer treatment, integration of nanomedicine in infectious disease therapeutics. Major trends in the forecast period include development of multifunctional nanoparticles for therapeutics and imaging, emphasis on nanoparticle-based diagnostics and imaging agents, application of nanomedicine in regenerative medicine, growing use of nanomedicine in targeted therapy for neurological disorders, collaboration and partnerships in nanomedicine research and commercialization.
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Segmentation & Regional Insights
The nanomedicine market covered in this report is segmented –
1) By Type: Nanoparticles, Nanoshells, Nanotubes, Nanodevices, Other Types
2) By Modality: Diagnostics, Treatments
3) By Application: Clinical Oncology, Infectious Diseases, Clinical Cardiology, Orthopedics, Other Applications
North America was the largest region in the nanomedicine market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the nanomedicine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rising burden of complex and chronic diseases across the globe is expected to contribute to the growth of the nanomedicine market in the forecast period. Nanomedicine is increasingly being used in treating chronic diseases including cardiovascular disorders, diabetes, cancer, dementia, and others where it helps in the fast metabolism of drugs in the body. According to the international federation of Alzheimer’s Associations, Alzheimer’s Disease International, more than 50 million people are suffering from dementia globally, and is projected to double every 20 years, which will reach 80 million by 2030 and 152 million by 2050. The total cancer burden in the world is predicted to rise to 28.4 million new cancer cases in 2040. This increasing burden of chronic diseases is expected to propel the demand for effective therapeutics treatment based on nanomedicine, thus driving the growth of the nanomedicine market.
Key Industry Players
Major companies operating in the nanomedicine market report are Pfizer Inc., Ablynx NV, Amgen Inc., Arrowhead Research Inc., Bio-Gate AG, Celgene Corporation, F. Hoffmann-La Roche AG, GE Healthcare, Gilead Sciences Inc., Merck AG, Nanospectra Biosciences, Nanotherapeutics Inc., NanoViricides Inc, Novartis AG, Sanofi S. A., Abraxis Bioscience Inc., Alnylam Pharmaceuticals Inc., Arrowhead Pharmaceuticals Inc., AuraSense Therapeutics LLC, BIND Therapeutics Inc., Camurus AB, Cerulean Pharma Inc., CytImmune Sciences, Fujifilm Holdings, Nanobiosym Inc., Nanobiotix SA, Nanogen Inc., Nanomix Crop., Nanoparticle BioChem Inc., Nanospective Inc., Nanosphere Health Sciences Inc., Nanosys Inc., PerkinElmer Inc., Selecta Biosciences Inc., Sigma-Aldrich Co. LLC
The nanomedicine market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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