Nanotechnology refers to the study, development, and application of science, engineering, and technology at the nanometer scale, which has enormous potential for social, industrial, and environmental good. One of the most active areas of nanotechnology study is healthcare. The term “nanomedicine” refers to a medical subspecialty that focuses on the detection, management, and prevention of disease at the molecular level.
Forecasts put the value of The market for nanomedicines worldwide at US$ 454.8 Bn by the end of 2027.
Market for Nanomedicine Worldwide: Drivers
The high incidence of chronic diseases is projected to fuel The market for nanomedicines worldwide in the predicted period. As an illustration, the American Cancer Society predicts that 1,762,450 people in the United States will be diagnosed with cancer this year, and that 606,880 people will lose their lives to the disease.
Additionally, the introduction of NanoTherm treatment centres is anticipated to boost the market. To give one specific example, in March of 2020, MagForce AG and the Hufeland Klinikum GmbH declared that they had signed a joint collaboration agreement and would be opening a NanoTherm treatment centre for brain tumours at the Mühlhausen site in Thuringia, Germany.
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In 2019, the market for nanomedicines was dominated by North America, which accounted for 35.4% of the global volume. This was trailed by Europe and Asia Pacific.
Market for Nanomedicine Worldwide: Restraints
The development of the worldwide nanomedicine market is anticipated to be stymied by the absence of a well-defined regulatory framework. Presently, nanomedicine lacks any obligatory testing guidelines. However, the requirements for safety testing of any medical product by the FDA, CDER, and other regulatory authorities worldwide are stringent. Manufacturers of nanomedicine products are obligated to conduct toxicological studies and follow all applicable environmental regulations because of the potential for environmental and toxicological impacts. Toxicology, adverse drug reactions (ADME), pharmacology, carcinogenicity, genotoxicity, and immunotoxicity testing are just some of the current preclinical tests used for safety evaluation.
Nanomedicine’s slow adoption rate in developing countries is also anticipated to slow the market.
Market for Nanomedicine Worldwide: Opportunities
Players in The market for nanomedicines worldwide can anticipate significant growth opportunities as a result of gaps in healthcare in developing economies. China, India, Brazil, Eastern Europe, the Middle East, and Latin America are just a few of the emerging and high-growth markets that are anticipated to provide a fertile ground for the market of nanomedicine in the years to come. Because of rising disposable incomes brought about by economic growth, patients in these countries are in a better position to make purchases. Modernizing the healthcare system will allow for the application of cutting-edge technologies and the satisfaction of the vast majority of unmet medical needs of the population.
Research and development in nanomedicine is also anticipated to contribute to market expansion. Superparamagnetic iron oxide nanoparticles, for example, were reported in August 2020 by scientists at the Else Kröner-Fresenius-Stiftung Professorship, Universitätsklinikum Erlangen, Germany, as an efficient system for boosting drug concentrations in targeted areas, with the aim of subverting cellular resistance to chemotherapy.
At a CAGR of 12.5% between 2020 and 2027, The market for nanomedicines worldwide is expected to grow from a 2019 valuation of US$ 177.1 Bn to a 2027 valuation of US$ 454.8 Bn.
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Market Trends/Key Takeaways
Leading companies in the nanomedicine industry are investing heavily in research and development for future product launches. For instance, the HEALEY ALS Platform Trial is being conducted at sites of the Northeast ALS (NEALS) consortium, and in August 2020, Clene Nanomedicine, Inc. confirmed that the Sean M Healey & AMG Center for ALS at Mass General registered the first patients. CNM-Au8, a therapeutic nanocatalyst developed by the company, is being tested as a potential treatment for amyotrophic lateral sclerosis (ALS) as part of the HEALEY ALS Platform Trial.
The market for nanomedicines worldwide is projected to expand thanks to increasing funding for nanomedicine projects. Case in point: in July of 2020, Curadigm SAS, a 100% owned subsidiary of Nanobiotix S.A., announced that they had secured US$ 1.18 Mn in non-dilutive funding from Deep Tech BPI France to advance the company’s Nanoprimer technology.
Market for Nanomedicine Worldwide: Competitive Landscape
The main companies participating in the market of nanomedicine worldwide are Abbott Laboratories, CombiMatrix Corporation, Clene Nanomedicine, Inc., Cellics Therapeutics, Inc., Nanobiotix S.A, Celgene Corporation, GE Healthcare, NanoViricides, Inc., Johnson & Johnson, Mallinckrodt plc., Sirnaomics Inc., Precision NanoSystems Inc., Merck & Company Inc.
Market for Nanomedicine Worldwide: Key Developments
Leading companies in the nanomedicine industry are investing heavily in research and development for future product launches. In June of 2020, for instance, Nanobiotix S.A. announced that the FDA had offered constructive advice related to the planning of NANORAY-312, the company’s vital phase III world registration trial in head and neck cancer.
In a similar vein, a study evaluating the positive advantages of macrophage and pulmonary epithelial nanosponges in neutralising SARS-CoV-2 infectivity was published in Nano Letters in June 2020, as announced by Cellics Therapeutics, Inc.
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Nanomedicines Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Nanomedicines Industry Impact
Chapter 2 Global Nanomedicines Competition by Types, Applications, and Top Regions and Countries
2.1 Global Nanomedicines (Volume and Value) by Type
2.3 Global Nanomedicines (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Nanomedicines Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Nanomedicines Market Analysis
Chapter 6 East Asia Nanomedicines Market Analysis
Chapter 7 Europe Nanomedicines Market Analysis
Chapter 8 South Asia Nanomedicines Market Analysis
Chapter 9 Southeast Asia Nanomedicines Market Analysis
Chapter 10 Middle East Nanomedicines Market Analysis
Chapter 11 Africa Nanomedicines Market Analysis
Chapter 12 Oceania Nanomedicines Market Analysis
Chapter 13 South America Nanomedicines Market Analysis
Chapter 14 Company Profiles and Key Figures in Nanomedicines Business
Chapter 15 Global Nanomedicines Market Forecast (2022-2028)
Chapter 16 Conclusions
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