Nanomedicine Market: Current Analysis and Forecast (2022-2028)

Nanomedicine Market: Current Analysis and Forecast (2022-2028)

The global nanomedicine market is expected to grow at a significant rate of around 10% during the forecast period. Nanomedicine is a branch of medicine that applies the knowledge and tools of nanotechnology to the prevention and treatment of disease. Nanomedicine involves the use of nanoscale materials, such as biocompatible nanoparticles and nanorobots, for diagnosis, delivery, sensing, or actuation purposes in a living organism. The rising incidences of chronic diseases and the focus on the development of the nano-vaccine field is also a major contributor to the market growth of the market of nanomedicines. Furthermore, the rising prevalence of chronic diseases also has a significant share in the market growth of nanomedicines. For instance, as per the WHO, approximately 1.71 billion people have musculoskeletal conditions worldwide. Musculoskeletal conditions are the leading contributor to disability worldwide, with low back pain being the single leading cause of disability in 160 countries.

Arrowhead Pharmaceuticals Inc., Brigham and Women's Hospital, Nanospectra Biosciences Inc., ABLYNX, AMAG Pharmaceuticals, Bio-Gate AG, Celgene Corporation, Johnson & Johnson Inc., Pfizer Inc., and Abbott. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
 
Insights Presented in the Report
"Amongst product, Therapeutics category to witness higher CAGR during the forecast period”

Based on product, the market is segmented into therapeutics, regenerative medicine, in-vitro diagnostics, in-vivo diagnostics, and vaccines. The therapeutics category is to witness higher CAGR during the forecast period owing to the rising prevalence of the diseases and increasing cases of rare disorders. As per the Genetic and Rare Diseases Information Center, there are about 7,000 known rare diseases and collectively, about 1 in 10 people (or 30 million people) in the U.S. have a rare disease.
"Amongst application, the clinical oncology to hold a significant share in the market in 2021”

On the basis of application, the market is categorized into clinical oncology, infectious diseases, clinical cardiology, orthopedics, and others. Among these, clinical oncology to hold a significant share in the market in 2020. The rising number of cancer cases and the surging demand for disease-specific treatments is the major factor that increases the demand for nanomedicines in clinical oncology. For instance, as per the WHO, the cancer was leading cause of death in 2020, and cases of breast and lung cancer is accounted for 2.26 million and 2.21 million respectively.
"North America to hold a significant share in the market”

In 2020, North America held a significant share of the global nanomedicine market. This is mainly attributed to the rising number of product launches and the increasing investments in nanotechnology research in healthcare in the region. For instance, in July 2021, Jazz Pharmaceuticals plc announced the Health Canada approval and availability of Vyxeos® (daunorubicin and cytarabine liposome for injection) for the treatment of adults with newly diagnosed therapy-related AML (t-AML) or AML with myelodysplasia-related changes (AML-MRC). Furthermore, the rising geriatric population in the region is also an important factor that increases the market size of nanomedicines in North America.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.