Nanomedicine is the application of nanotechnology to achieve innovation in healthcare. It uses the properties developed by a material at its nanometric scale of 10-9 m which often differ in terms of physics, chemistry, or biology from the same material at a bigger scale. The rising demand for advanced medical technology and the surging prevalence of chronic diseases are responsible for the market growth of nanomedicines. For instance, as per the WHO, Cardiovascular diseases (CVDs) are the leading cause of death globally, taking an estimated 17.9 million lives each year. Furthermore, the growth of the diagnostic industry also rises the need for nanomaterials in diagnostics. Thus, the market of nanomedicines to witness lucrative growth in the future.
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The
Nanomedicine Market is expected to grow at a steady rate of around 10% owing to
the increasing off-road incidents and recreational activities. Major
companies in the market that offer Nanomedicine are Arrowhead Pharmaceuticals
Inc., Brigham and Women's Hospital, Nanospectra Biosciences Inc., ABLYNX, AMAG
Pharmaceuticals, Bio-Gate AG, Celgene Corporation, Johnson & Johnson
Services Inc., Pfizer Inc., and Abbott Laboratories.
According to UnivDatos Market Insights (UMI)’
research report “Global Nanomedicine Market”,
the market is expected to witness robust growth during the forecast period (2022-2028).
This is mainly due to the growing incidences of chronic diseases and rising
investment in clinical research.
Based on product, the market has been categorized
into therapeutics, regenerative medicine, in-vitro diagnostics, in-vivo
diagnostics, and vaccines. Among them, the therapeutic segment is expected to
witness lucrative growth during the forecast period. The surging demand for
effective medicines and the rising prevalence of chronic diseases is the major
factor that is the rising demand for the therapeutic use of nanomedicines. For instance, as per the
public health foundation of India, Stroke caused 699,000 deaths in India in
2019, which was 7.4% of the total deaths in the country.
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Based on the application,
the market has been categorized into clinical oncology, infectious diseases,
clinical cardiology, orthopedics, and others. Among them, the clinical oncology
segment is expected to have significant growth in the market. The rising
prevalence of cancer and the higher focus on the development of effective and
specific medicine for cancer is the important factor that is catalyzing the
market of the clinical oncology segment. For instance, as per the article
published in NCBI in August 2022, Nanomedicines are applied as alternative
treatments for anticancer agents. For the treatment of cancer, due to the small
size in nanometers (nm), specific site targeting can be achieved with the use
of nanomedicines, increasing their bioavailability and conferring fewer toxic
side effects.
North America to witness extensive growth
For a better understanding of the market
adoption of the Nanomedicine industry, the market is analyzed based on its
worldwide presence in the countries such as North America (U.S., Canada, Rest
of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of
Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of
World. North America constitutes a significant nanomedicine market due to the
increasing R&D activities for developing a better and more efficient method
of treatment. For instance, the U.S. investments in R&D increased by
13% in 2020 in comparison with 2018 which accounted for US$ 5,86,959 in 2018
and reached US$ 6,64,058 in 2020.
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According to UnivDatos Market Insights (UMI)’,
the key players with a considerable market share in the Nanomedicine market are
Arrowhead Pharmaceuticals Inc., Brigham and Women's Hospital, Nanospectra
Biosciences Inc., ABLYNX, AMAG Pharmaceuticals, Bio-Gate AG, Celgene
Corporation, Johnson & Johnson Services Inc., Pfizer Inc., and Abbott
Laboratories.
“Global
Nanomedicine
Market” provides comprehensive qualitative and quantitative insights on
the industry potential, key factors impacting sales and purchase decisions,
hotspots, and opportunities available for the market players. Moreover, the
report also encompasses the key strategic imperatives for success for
competitors along with strategic factorial indexing measuring competitors’
capabilities on different parameters. This will help companies in the
formulation of go-to-market strategies and identifying the blue ocean for its
offerings.
Market Segmentation:
1. By
Product (Therapeutics, Regenerative Medicine,
In-Vitro Diagnostics, In-Vivo Diagnostics, and Vaccines)
2. By
Application (Clinical Oncology, Infectious Diseases,
Clinical Cardiology, Orthopedics, and Others)
3. By
Region (North America, Europe, Asia-Pacific, Rest of
the World)
4. By
Company (Arrowhead Pharmaceuticals Inc., Brigham and
Women's Hospital, Nanospectra Biosciences Inc., ABLYNX, AMAG Pharmaceuticals,
Bio-Gate AG, Celgene Corporation, Johnson & Johnson Services Inc., Pfizer
Inc., and Abbott Laboratories)
Key
questions answered in the study:
1.
What are the current and future trends
of the global nanomedicine industry?
2.
How the industry has been evolving in
terms of product and application?
3.
How the competition has been shaping
across the countries followed by their comparative factorial indexing?
4.
What are the key growth drivers and
challenges for the global nanomedicine industry?
5.
What is the customer orientation, purchase
behavior, and expectations from the global s suppliers across various region
and countries?
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