Nanomedicine
Market: Snapshot
The
rising applications of nanomedicine through breakthrough advancements
in nanotechnology is perhaps the leading factor driving the global
nanomedicine market. There has been a surge in research activities,
by governments as well as private institutions, in the field of
nanotechnology and in the experimental use of this technology to
treat a variety of chronic conditions. This, coupled with high unmet
medical needs, massive geriatric population, and growing incidence of
chronic and acute diseases, is likely to give the market a
significant boost.
Registering
a double-digit CAGR during the course of the forecast period, the
global nanomedicine market is slated to amount to a value of US$177
bn by 2019.
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Growing
Application of Nanomedicine Noted in Cardiovascular and Neurology
Segments
The
major application segments of nanomedicine include cardiovascular,
neurology, anti-infective, anti-inflammatory, and oncology. Amounting
to a value of US$65.5 bn by 2019, oncology stands to dominate the
global nanomedicine market throughout the forecast period. Compared
to conventional drug therapies, nanomedicine has proven to present a
number of benefits when it comes to the treatment of tumors.
Nanomedicine has enabled targeted drug delivery through enhanced
permeation and retention (EPR), giving this treatment the advantage
of specificity compared to conventional non-targeted drug therapies.
As a result, there has been increased focus on research in the use of
nanomedicine for the treatment of cancer.
In
recent years, however, the focus on nanomedicine has moved toward its
application in the neurology and cardiovascular segments. This can be
attributed primarily to the rising availability of patient
information and technological advancements. The cardiovascular
segment is predicted to exhibit a CAGR of almost 16.0% during the
forecast period.
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Favorable
Regulatory Scenario Lifts North America to Dominant Position in
Nanomedicine Market
Accounting
for an estimated share of over 35.0% in 2019, North America is slated
to continue leading the global nanomedicine market throughout the
forecast period. One of the most prominent factors that continues to
drive this market is the increased presence of patented nanomedical
products across the region. The presence of advanced and
state-of-the-art healthcare infrastructure has greatly supported the
development of nanomedical products such as nanorobots, DNA probes,
monoclonal antibody-based immunoassays, nanosensors, and
nanoparticle-based imaging agents.
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90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
Browse market research blog: https://tmrresearch.blogspot.com/
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