Nanoparticle that is employed in drug delivery is often called nanomedicine. Nano delivery systems and nanomedicines are relatively new but are developing rapidly. In nanomedicine, various materials in the nanoscale range are used to deliver different therapeutic agents to targeted sites in the body in a controlled manner. Nanomedicines are target-oriented, site-specific that help deliver medicines precisely. Different applications of nanomedicine for drug delivery are found these days as they are often used as biological agents, chemotherapeutic agents, and immunotherapeutic agents. In addition, nanomedicines remain in circulation for a prolonged period and also enable the release of drugs at a specific dose.
COVID-19 Impact Analysis
COVID-19 is an infectious disease that originated in the Hubei province of the Wuhan city in China in December, 2019. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing a shortage of these drugs. Thus, the pharmaceutical and biotechnology industries are expected to witness significant growth in the future, owing to the demand for vaccines and treatment drugs for COVID-19.
With COVID-19, the supply chain of the raw materials required to manufacture nanomedicine for drug delivery has been disrupted in many countries. In addition, the market growth of nanomedicine for drug delivery is also declining as their manufacturers have slowed down their production because of the pandemic. Therefore, COVID 19 is expected to have a significant impact on the nanomedicine for drug delivery market.
Top Impacting Factors
The surging prevalence of diseases like cancer is likely to propel the growth of nanomedicine for the drug delivery market. Many therapies are currently in pipeline to assist in the treatment of cancer with the use of nanomedicine for proper drug delivery.
The rise in number of people dying from cardiovascular diseases is surging the demand for nanomedicine for drug delivery technology. Hence, this is acting as one of the factors behind the growth of the market.
Demand for novel therapies in treating neurological diseases such as Parkinson's disease, brain tumors, and Alzheimer's disease can further help grow the nanomedicine for drug delivery market.
However, the cost of nanotechnology drug delivery systems for nanosystem is unbearable for people living in developing countries. This factor can impede the growth of nanomedicine for the drug delivery market.
Key Market Trends
FDA- approved therapeutic nanoparticles for various chronic diseases like cancer are currently being developed for reformulating combinations of chemotherapy drugs with polymeric nanoparticles.
North America leads the market of nanomedicine for drug delivery owing to the presence of growing partnerships among major organizations with nanomedicine startup companies. In addition, a number of companies in this region are also focused on developing nanomedicines for cancer treatment.
In Asia-Pacific, nanomedicine for drug delivery market is also expected to expand at a significant rate during the forecast period because of the rise in demand for prophylaxis of chronic diseases and an increased number of research grants by the government.
With increased assistance from the government in funding R&D activities all over the world, the nanomedicine for drug delivery market is expected to find a major share during the forecast period, when it comes to treating neurological disorders such as Parkinson’s disease.
Key Benefits of the Report
- This study presents the analytical depiction of the nanomedicine for the drug delivery industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the nanomedicine for drug delivery market share.
- The current market is quantitatively analyzed to highlight the growth scenario of the nanomedicine for drug delivery market.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers in the market.
- The report provides a detailed analysis depending on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the Nanomedicine for Drug Delivery Report
- Which are the leading players active in the nanomedicine for drug delivery market?
- How is each segment of the market expected to grow during the forecast period?
- What are the adoption trends for the nanomedicine for drug delivery market in emerging economies and established economies across the world?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps in the market?
- What are the impacts of COVID-19 on the industry?
- What is nanomedicine for drug delivery?
- What are the current and predicted trends of the market?
Nanomedicine for Drug Delivery Market Report Highlights
By Product Type
By End User
Key Market Players
Cristal Therapeutics, Celgene, Inc., EnColl Corporation, EyePoint Pharmaceuticals, AbbVie Inc., Ceramisphere Health Pty Limited, BlueWillow Biologics, Aquanova AG, Camurus AB, CYTIMMUNE SCIENCES, Inc.