Global nanomedicine market was valued at US$ 200.10 billion in 2020 and is expected to reach US$ 398.01 billion by 2030 growing at a CAGR of 10.45% over the forecast period. Use of nanotechnology in the field of medical science brings latest helps in development of new strategies in an attempt to prevent, diagnose and treat any kind of disease. This also holds correct in regards with novel COVID-19. The management of the COVID-19 can be done by introduction of nano-based products like personal protective equipment (PPE), disinfectants and diagnostic systems. Rise in the number of people suffering from cancer and cardiovascular diseases is driving the nanomedicine market. Effective treatment and diagnostics of these diseases can be done with the help of nanoscale technologies and nanomedicine, which is much more personalized. Latest advancements in terms of drug delivery is also taking this market ahead.
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The only major hindrances to the growth of the nanomedicine market lies in the form of its approval process which is comparatively lengthy and the stringent regulatory issues. As these medicines are more personalized, they happen to be more costly than the conventional medicines. On the other hand, increasing number of healthcare facilities is expected to contribute to the growth of this market. People these days seek treatments that are more precise and for majority of them, the higher cost is not a factor to worry. This creates an ideal scenario for the nanomedicine market. The detailed research study provides qualitative and quantitative analysis of nanomedicine market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Key Findings of the Report:
- The nanomedicines market in the United States accounts for highest revenue share primarily because of the presence of more advanced healthcare facilities and increased awareness about nanomedicines in the people
- The need for effective therapeutics on the basis of nanomedicine in the disease management is likely to drive this market further.
- The nanomedicine market is expected to witness growth from the neurological diseases segment
- The treatment and prevention of COVID-19 is highly dependent in vaccines, and this is expected to benefit the nanomedicines market
- Some of the major players operating in the nanomedicine market include Abbott Laboratories, CombiMatrix Corporation, General Electric Company, Sigma-Tau Pharmaceuticals Inc, Johnson & Johnson, Mallinckrodt plc., Merck & Company Inc., Nanosphere Inc. Pfizer Inc. and Teva Pharmaceutical Industries Ltd amongst others.
- Drug Delivery
- Diagnostic Imaging
- Regenerative Medicine
- Oncological Diseases
- Infectious Diseases
- Cardiovascular Diseases
- Orthopedic Disorders
- Neurological Diseases
- Urological Diseases
- Ophthalmological Diseases
- Immunological Diseases
- North America
- Asia Pacific
- Middle East & Africa
- Latin America