Of late, a lot of research is being centered on nanoparticles, which are named so because they are measured in nanometers. A nanometer is one billionth of a meter and nanoparticles measure anything from 100 nanometers to one nanometer. The particles, difficult to see even with a microscope, have wide ranging applications in different fields such as biomedical, electronic fields, and optical. Among them, their various applications in biomedical have witnessed stellar progress so far. For example, in the field of biology and medicine, nanoparticles are used in drug delivery, genetic and tissue engineering, destruction of tumors, detection of proteins, and creating fluorescent biological labels for important biological markers, among other things. Going forward, they are slated to find many more uses in medicine, particularly in drug delivery.
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The report by Transparency Market Research (TMR) is a collection of facts and figures that are associated with the global brain nanoparticles market in a chronological order. Utilizing historical data and current market events and trends, the research analysts have attempted to gauge the market’s future. This future projection would enable new and old players in the global market for nanoparticles to devise sagacious business strategies for steering their business on a successful path. The report also offers valuable market insights through the use of analytical tools such as Porter’s Five Forces analysis and a SWOT analysis.
The global market for nanoparticles has seen impressive growth in the recent past primarily on account of the increasing thrust on research in nanotechnology, particularly in emerging economies because of their respective governments’ initiatives on pharmaceutical research and development. For example, substantial investments have been made in research on nanoparticles for ability to battle cancer in a much more effective manner than conventional forms of treatment such as chemotherapy and radiation. This is because, unlike the latter that target not just the cancerous part but also adjoining healthy parts resulting in side effects, nanoparticles destroy tumors with minimal damage to healthy tissue and organs. They also help in the detection and removal of cancer cells before they turn into tumors.
Other factors contributing to the growth in the global market for nanoparticles are improving health care infrastructure and the growing application of nanotechnology in drug development and administration. Countering the growth of the market are the high costs associated with nanoparticles technology and less awareness about its advantages among prominent players in the field of biotechnology and biomedicals. At present, the environment in the market is competitive and going forward, the competition will heat up with further emphasis on research and development and mergers and acquisitions. Leading players in the market are already looking to acquire regional players to up sales.
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Geographically, the global market for nanoparticles can be segmented into Asia Pacific, North America, Europe, and the Rest of the World. The market is predicted to see strong growth in most of the developed economies in the world. North America, for instance, is a dominant market and is predicted to lead the global nanoparticles market in the near future too by holding a leading share in it. The growing pace of mergers and acquisitions, carefully-considered collaborations, and increasing patent acquisitions are some of the reasons that would bolster the market in the continent. Another factor leading to the growth in the market in the region is the abundant availability of raw materials for production of oxide. Further, initiatives such as the National Nanotechnology Initiative by the U.S. government has also majorly contributed to the market in the region.
While the U.S. is the dominant market, it is Asia-Pacific that is slated to outpace all other regions in terms of growth rate in the next couple of years. This is because of a number of factors such as the presence of major market players in the region, growing number of nanotechnology related research and development projects, public and private investments and collaborations, and the increasing trend of outsourcing research and development activities to Asian nations to cut down the cost of operations.
Some of the main players operating within the global market for nanoparticles that have been profiled in the report are Abraxis Biosciences, Inc., GE Global Research, Amag Pharmaceuticals Inc., Astrazeneca Pharmaceuticals, PLC, and Novartis International AG.
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