Nanomedicine Market Overview:
Global Nanomedicine Market accounted for $111,912 million in 2016, and is anticipated to reach $261,063 million by 2023, registering a CAGR of 12.6% from 2017 to 2023. Nanomedicine is one of the applications of nanotechnology used in diagnosis, treatment, monitoring, and control of biological systems. Nanomedicine uses nanoscale manipulation of materials to improve medicine delivery. Thus, nanomedicine has facilitated the treatment against various diseases. Nanomedicine is in nascent stage, as several products are in the development phase. According to Nanobiotix (a nanomedicine company), in 2015, around 230 nanomedicine products were identified, which are either marked or are in the trial phase. Moreover, as per the company, there are 49 nanomedicine products in the market, whereas 122 products are in the clinical pipeline either in Phase II or Phase III trials.
The global nanomedicine market is segmented based on modality, application, indication, and region. Based on application, it is classified into drug delivery, diagnostic imaging, vaccines, regenerative medicine, implants, and others. On the basis of indication, it is categorized into oncological diseases, neurological diseases, urological diseases, infectious diseases, ophthalmological diseases, orthopedic disorders, immunological diseases, cardiovascular diseases, and others. Based on modality, it is bifurcated into treatments and diagnostics. Regionally, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Global Nanomedicine Market Segmentation
Drivers, Restraints, and Opportunities
The global market is driven by emerging technologies for drug delivery, increase in adoption of nanomedicine across varied applications, rise in government support & funding, growth in need for therapies with fewer side effects, and cost-effectiveness of therapies. However, long approval process and risks associated with nanomedicine (environmental impacts) restrain the market growth. In addition, increase in out-licensing of nanodrugs and growth of healthcare facilities in emerging economies are anticipated to provide numerous opportunities for the market growth.
Global Nanomedicine Market: Drivers & Restraints
India Nanomedicine Market
Increase in adoption of novel nanomedicines products drives the market growth in India. Moreover, increase in the number of players and high adoption of innovative technologies further fuel the market growth. In addition, robust government initiative toward improvement of healthcare facilities through insurance schemes is anticipated to provide lucrative growth opportunities in the country. The nanomedicines market in India is expected to grow at the highest CAGR of 13.4% from 2016 to 2023.
India Nanomedicines Market, 2016-2023 ($Million)
The key players operating in the global nanomedicine market are 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.
The other prominent players in the value chain include Celgene Corporation, UCB (Union Chimique Belge) S.A., AMAG Pharmaceuticals, Nanospectra Biosciences, Inc., Arrowhead Pharmaceuticals, Inc., Leadiant Biosciences, Inc., Epeius Biotechnologies Corporation
Gilead, and Cytimmune Sciences, Inc.
- The study provides an in-depth analysis of the global nanomedicine market and the current trends and future estimations to elucidate the imminent investment pockets.
- The report presents quantitative analysis of the market from 2016 to 2023 to enable stakeholders to capitalize on the prevailing market opportunities.
- Extensive analysis of the market based on product assists in understanding the trends in the industry.
- Key market players and their strategies are thoroughly analyzed to understand the competitive outlook of the industry.
Nanomedicine Market Key Segments:
- Drug Delivery
- Diagnostic Imaging
- Regenerative Medicine
- Oncological Diseases
- Infectious Diseases
- Cardiovascular Diseases
- Orthopedic Disorders
- Neurological Diseases
- Urological Diseases
- Ophthalmological Diseases
- Immunological Diseases
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA