Market Size of Healthcare Nanotechnology (Nanomedicine) Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 11.90 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Healthcare Nanotechnology (Nanomedicine) Market Analysis
The healthcare nanotechnology (nanomedicine) market is expected to register a CAGR of nearly 11.9% during the forecast period.
The use of nanotechnology offers new opportunities for the development of novel strategies in terms of prevention, diagnosis, and treatment of COVID-19 and other viral infections. COVID-19 management was done with the development of nano-based materials, such as disinfectants, personal protective equipment, diagnostic systems, and nanocarrier systems, for treatments and vaccine development. According to a research article by Estefania V. R. Campos et al., published in the Journal of Nanobiotechnology in 2020, gold nanoparticles were functionalized with probes modified with thiol on the surface, which hybridize with the target and prevent the aggregation of the nanoparticles by salts and, consequently, the color change. This solution can be easily adapted for the diagnosis of COVID-19.
The healthcare nanotechnology (nanomedicine) market is being driven by various factors, such as the growing prevalence of cancer and genetic and cardiovascular diseases, increasing advancements in nanoscale technologies for diagnostic procedures, and growing preference for personalized medicines.
Nanomedicine helps improve human health and offers solutions for various life-threatening diseases, such as cancer, Parkinson's disease, Alzheimer's disease, diabetes, orthopedic diseases, and diseases related to blood, lungs, and the cardiovascular system. According to Alzheimer's Disease International, globally, there were around 50 million people with dementia in 2020. This number is expected to double every 20 years, reaching 82 million in 2030 and 152 million in 2050. Therefore, the high burden of dementia is expected to increase the demand for effective therapeutics based on nanomedicine in the management of the disease, which is expected to drive market growth.
Moreover, the market players are involved in frequent product launches to enhance their presence. For instance, in October 2020, Medtronic PLC launched its new Adaptix Interbody System, a navigated titanium spinal implant with the Titan nanoLOCK Surface Technology.
However, stringent regulatory issues and the high cost of nanoparticle-assisted medicine relative to its traditional counterparts are hindering the market's growth.
Healthcare Nanotechnology (Nanomedicine) Industry Segmentation
As per the scope of the report, the healthcare nanotechnology (nanomedicine) market includes products that are nanoformulations of the existing drugs or new drugs, or nanomaterials. The market is segmented by application (drug delivery, biomaterials, active implants, diagnostic imaging, and tissue regeneration), disease (cardiovascular diseases, oncological diseases, neurological diseases, orthopedic diseases, infectious diseases, and other diseases), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the market size and forecast in value (USD million) for the above segments.
| By Application | |
| Drug Delivery | |
| Biomaterials | |
| Active Implants | |
| Diagnostic Imaging | |
| Tissue Regeneration |
| By Disease | |
| Cardiovascular Diseases | |
| Oncological Diseases | |
| Neurological Diseases | |
| Orthopedic Diseases | |
| Infectious Diseases | |
| Other Diseases |
| By Geography | ||||||||
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Healthcare Nanotechnology (Nanomedicine) Market Size Summary
The nanomedicine market is poised for significant growth, driven by advancements in healthcare nanotechnology that offer innovative solutions for the prevention, diagnosis, and treatment of various diseases, including cancer and viral infections like COVID-19. The integration of nanotechnology in medical applications has opened new avenues for personalized medicine, enhancing the efficacy of treatments and diagnostics. The market is witnessing increased demand due to the rising prevalence of chronic diseases such as cancer, cardiovascular conditions, and neurodegenerative disorders. This demand is further fueled by the development of nano-based materials and devices that improve disease detection and treatment outcomes. Despite the promising growth prospects, the market faces challenges such as stringent regulatory requirements and the high cost of nanoparticle-assisted therapies compared to traditional methods.
In the oncology sector, nanomedicine is transforming cancer treatment and diagnosis, with numerous advancements in engineered nanomaterials and nanoplatforms. The market is characterized by frequent product launches and collaborations among key players to enhance their technological offerings and market presence. The COVID-19 pandemic has also accelerated the adoption of nanomedicine, with significant investments in research and development to create effective vaccines and therapeutics. The United States, in particular, is witnessing robust growth due to ongoing R&D activities and the high burden of cardiovascular diseases, which drive the demand for nanotechnology-based interventions. Major companies are focusing on technological innovations and strategic partnerships to capitalize on the lucrative opportunities presented by the market, aiming to improve drug bioavailability and administration methods.
Healthcare Nanotechnology (Nanomedicine) Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Growing Prevalence of Cancer and Genetic and Cardiovascular Diseases
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1.2.2 Increasing Advancements in Nanoscale Technologies for Diagnostic Procedures
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1.2.3 Growing Preference for Personalized Medicines
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1.3 Market Restraints
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1.3.1 High Costs
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1.3.2 Stringent Regulations for Commercial Introduction
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Application
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2.1.1 Drug Delivery
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2.1.2 Biomaterials
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2.1.3 Active Implants
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2.1.4 Diagnostic Imaging
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2.1.5 Tissue Regeneration
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2.2 By Disease
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2.2.1 Cardiovascular Diseases
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2.2.2 Oncological Diseases
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2.2.3 Neurological Diseases
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2.2.4 Orthopedic Diseases
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2.2.5 Infectious Diseases
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2.2.6 Other Diseases
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2.3 By Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 France
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2.3.2.2 Germany
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2.3.2.3 United Kingdom
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle-East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle-East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Healthcare Nanotechnology (Nanomedicine) Market Size FAQs
What is the current Healthcare Nanotechnology (Nanomedicine) Market size?
The Healthcare Nanotechnology (Nanomedicine) Market is projected to register a CAGR of 11.90% during the forecast period (2024-2029)
Who are the key players in Healthcare Nanotechnology (Nanomedicine) Market?
Sanofi SA, Pfizer Inc., Taiwan Liposome Company Ltd, Johnson & Johnson and Bristol-Myers Squibb Company are the major companies operating in the Healthcare Nanotechnology (Nanomedicine) Market.
