Nanotechnology is the emerging science field that involves the matter’s molecular and atomic level manipulation. The nanometer is equivalent to a meter’s 1 billionth part. Nanotechnology has several applications in various fields including chemical sensors, fuel cells, batteries, food, solar cells, electronics, fabric, fuels, space, cleaner water, sporting goods, and better quality of air. Among nanotechnology’s key application is within medicine, the nano-medicine varies from medical application including biological device, nanoelectronic biosensors, biological machines, and nanomaterial. Nanotechnology has provided the drug delivery option to particular target cells that employ nanoparticles. The particles are engineered for attaching with diseases cells that allows those cell’s direct treatment. Techniques of drug delivery are developed for reducing side effects related to the drugs and decreasing its consumption and cost of treatments. Nanostructured drugs possess various applications including in neurology, anti-inflammatory/immunology, cardiovascular/physiology, anti-infective, among others.
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Global Nanostructured Drug Market Dynamics
Nanostructured drugs are gaining notable traction in R&D, owing to the advantages provided by them regarding bioavailability, shelf-life, dosage, and drug stability. Safe and effective delivery of drugs is a key challenge for manufacturers in pharmaceutics and biotechnology. Novel techniques including nanotechnology are introduced by the companies for producing innovative products, which is expected to drive the global nanostructured drug market growth over the forecast period. For instance, the Food and Drug Administration (FDA), in 2015, approved Onivyde by merrimack pharmaceuticals, an irinotecan liposome injection that is the prescription medicine utilized for treating pancreatic cancer. The Onivyde is injected combined with other two drugs, fluorouracil and leucovorin. Onivyde comprises of the irinotecan chemotherapy drug, which interrupts reproduction of cell. The Irinotecan is locked into the nanostructure named as liposome. Liposome is programmed for slowly releasing the drug within the time interval.
Moreover, raised revenue and funding from product that are nano-enabled is expected to propel the global nanostructured drug market growth over the forecast period. For instance, as per the 2014 market report by National Science Foundation, the worldwide funding for developing nanotechnology surged by 40% – 45% since last 3 years. Furthermore, global revenue generated through products that are nano-enabled have been raised from US$ 339 Bn (2010) to US$ 731 Bn (2012), and to over US$1 Tn in 2013.
High cost needed for nanostructured drug developments and risks of safety related to nanostructured drugs including the time duration time for which nanoparticles stay within the body, affecting the tissue and cellular functions is expected to restrain the global nanostructured drug treatment market growth in the near future.
Global Nanostructured Drug Market – Regional Insights
Based on geography, the global nanostructured drug treatment market is segregated into North America, Europe, Latin America, Asia Pacific, Africa, and Middle East. North America accounts for the largest share in the global nanostructured drug market, due to extensive funding from the government for research in nanotechnology. For instance, as per the Lux Research lead study, in 2013, with financial support by the U.S. national Foundation and U.S. National Nanotechnology Coordination Office, in 2011 over US$ 1.9 Bn was funded along with US$ 2.1 bn in 2012 for R&D in nanotechnology. Furthermore, increasing awareness in the populace regarding several chronic diseases, along with well-established infrastructure of healthcare is expected to drive growth of the global nanostructured drug market during the forecast period.
Asia Pacific is expected to register robust growth in the global nanostructured drug market, preceding Europe, due to rising populace susceptible to several chronic diseases including cancer, tuberculosis, and HIV. For instance, as per the 2015 report by the National Health and Family Planning Commission of the PRC, in 2012 over 533 from 100,000 individuals died due to chronic disease in China, resulting 86.6% of total deaths.
Global Nanostructured Drug Market – Competitive Landscape
Key players functioning in the global nanostructured drug market are Ablynx NV, Nanoviricides Inc., Nanotherapeutics Inc., Pfizer Inc., Arrowhead Research Inc., Merck, Bio-Gate AG, Abraxis Inc., Celgene Corporation, and others. Market companies are focusing on adoption of strategies including increasing funding, collaboration, and acquisition, for strengthening the product portfolio along with holding a dominant position within the market. For instance, Pfizer Inc., in 2016, received approval of bankruptcy-court for buying Bind Therapeutics’ all asserts, which is a biotechnology firm developing programmable and targeted therapeutics (nanomedicine) known as ACCURINS.
Global Nanostructured Drug Market Taxonomy
Based on technology,
- Nanocrystals
- Nanoparticles
- Nanotubes
- Micelles
- Liposomes
- Others
Based on application,
- Oncology
- Neurology
- Cardiovascular/Physiology
- Anti-infective
- Anti-inflammatory/Immunology
- Others
Based on geography,
- North America
- Europe
- Latin America
- Asia Pacific
- Africa
- Middle East
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