The Global Nanotherapy Market is expected to grow at a CAGR of 8.2% during the forecasted period 2017-2023.
Nanotherapy is an advanced methodology in proper detection and improved diagnosis for the proper treatment of diseases. According to the National Cancer Institute (2014), 14 million people were suffering from cancer worldwide, which is expected to reach 19 million till 2024. The key driving factors for the growth of nanotherapy market are increasing the prevalence of diseases such as diabetes and cancer, rising demand for the better treatment option, and increasing healthcare expenditure. Furthermore, government support for research and continuous improvement in healthcare infrastructure boost the market. However, higher cost of treatment and strict regulatory norms may restrain the growth of the global nanotherapy market.
Nanotechnology has the potential to improve the drug solubility, stability, half-lives, and efficiency of the treatment. Nano therapy is a modern technique for treatment of various diseases and performed with the help of submicron sized molecular devices or nanoparticles. Nanotechnology offers the possibility to enhance drug dissolvability and strength, drag out medication half-lives in plasma, minimize off target impacts, and gather drugs at an objective site. This technology is characterized as submicron estimated atomic gadgets or nanoparticles prevalently running from 5 to 500 nm in one dimension. Generous past exploration exertion has brought about techniques to fuse helpful operators into biocompatible Nano devices including polymer nanoparticles, liposomes, micelle frameworks, inorganic nanoparticles, nanotubes, and dendrites.
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The global Nano therapy market is segmented on the basis of technologies, applications and end users. On the basis of technology, the market is further segmented into nanomaterial and biological devices, Nano electronic biosensors, molecular nanotechnology, implantable cardioverter-defibrillators, and other. On the basis of applications, the market is segmented into cardiovascular disease, cancer therapy, diabetes treatment, rheumatoid arthritis, and others. On the basis of end users, the market is further divided into hospitals, clinics and research institutions.
Some of the key players in the global nanotherapy market: Smith and Nephew (UK), Selecta Biosciences, Inc. (US), Sirnaomics, Inc. (US), Tarveda Therapeutics (US), DIM (US), Cristal Therapeutics (thr Netherland), CytImmune Science, Inc. (US), Luna (US), NanoBio Corporation (US), NanoBioMagnetics.n.nu (US), Nanobiotix (France), Nanoprobes, Inc. (US), Parvus Therapeutics (US), Nanospectra Biosciences, Inc (US), Nanosphere Inc. (US), NanoMedia Solutions Inc. (Japan).
Many companies are actively engaged in the development of novel products due to increasingly tie ups between nano medicine startups and leading enterprises. Major companies are investing billions in research and development with the help of government support and trying to introduce new devices and therapy in the market, which will grow the market for the nanotherapy in future. Some companies are focusing on acquisitions and strategic alliances for the growth of the market.
Smith and Nephew, headquartered in London, United Kingdom, is a multinational medical equipment manufacturing company. The company is majorly focused on the development of new products and has launched the silver nano crystals (Acticoat), which is antimicrobial wound dressings.
Parvus Therapeutics, a Canadian healthcare company, is focusing on development for better treatment for autoimmune diseases. The company has launched, nanoparticles designed to fight autoimmune diseases. In April 2017, the company announced its collaboration with Novartis AG for the development of the new drug for the treatment of type 1 diabetes.
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