Nanobiotechnology is an emerging field in healthcare which encompasses the applications of two fields – nanotechnology and biotechnology – in the field of healthcare and medicine. Nanotechnology is poised to become the largest competitive space in the industry with applications in several areas within the industry. Nanobiotechnology is the key to develop tools to analyze the smallest biological sample possible, which is a single molecule. This is expected to present many opportunities and expand capabilities in areas such as forensic diagnostics and forensic science. In the recent years nanotechnology has definitely moved from the drawing board and into the field with many applications in pharmaceuticals (such as drug delivery and drug discovery), agriculture, diagnostics, therapeutics, in various devices, and in robotics.
The current market is primarily led by the pharmaceutical sector with innovative technologies in drug discovery and delivery followed by diagnostics. Some of the major drivers for this market are the rising demand for minimally invasive and pain-free drug delivery, faster drug discovery, and higher sensitivity in diagnostics. As North America’s and Europe’s economic situation stabilizes, it is expected that investments and joint ventures in this domain will rise. Advances in software rendering and designing technology are also predicted to boost the growth of the market.
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Demand from Asia and Latin America is also expected to propel the growth of the market. One of the restraints of the market is the prohibitively expensive manufacturing which will result in high cost of finished products. Environmental health and safety is also another concern in waste disposal along with occupational safety. Promotion of cooperation among industrial, governmental, academic, and other sectors through technological integration beyond interdisciplinary boundaries will also help drive the adoption and bring early results.
The major segmentations within the market are drug discovery, drug delivery, diagnostics, and agriculture. Broadly, the market has been classified into diagnostic and therapeutic areas. New techniques include real-time imaging, single molecule imaging, 3D imaging in live cells, bioanalytical microarrays and microfluidic devices, and biosensors with quantum dot tagging.
Some of the market players in this industry are Calando Pharmaceuticals Inc., Advectus Life Sciences, Advanced Sensor Technologies, Affymetrix, Gilead Sciences, Applied Nanotech, and Elan Pharmaceuticals and others.