Allied Market Research recently published a report, titled, “Nanomedicine Market by Modality (Diagnostics and Treatment), Application (Drug Delivery, Diagnostic Imaging, Vaccines, Regenerative Medicine, Implants, and Others), and Indication (Clinical Oncology, Infectious Diseases, Clinical Cardiology, Orthopedics, Neurology, Urology, Ophthalmology, Immunology And Others): Global Opportunity Analysis and Industry Forecast, 2021–2030.” According to the analyst of AMR, the global nanomedicine market was estimated at $171.69 billion in 2020 and is expected to hit $393.04 billion by 2030, registering a CAGR of 9.2% from 2021 to 2030.
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Nanomedicine Market Overview:
Increase in R&D activities regarding nanorobots and significant investments in clinical trials by the government as well as private sector drive the growth of the global nanomedicine market. On the other hand, the long approval process and several risks associated with nanomedicines (environmental impact) impede the growth to some extent. However, rise in out-licensing of nanodrugs and developments in healthcare facilities in the emerging economies are expected to create lucrative opportunities in the industry.
Nanomedicine Market Segmentation:
The treatments segment to retain the lion’s share-
By modality, the treatments segment held the major share in 2020, garnering more than four-fifths of the global nanomedicine market. Increase in the prevalence of diseases such as cancer and COVID-19 virus and surge in awareness of nanomedicines applications propel the growth of the segment. The diagnostics segment, on the other hand, is projected to cite the fastest CAGR of 10.2% throughout the forecast period. Rise in number of oncology diseases and increase in disposable income fuel the segment growth.
The clinical oncology segment to dominate by 2030-
By indication, the clinical oncology segment contributed to the lion’s share in 2020, holding nearly one-third of the global nanomedicine market, owing to the advancements made in the nanomedicine sphere and increase in awareness of nanomedicines in the area of nanotechnology. However, the neurology segment is projected to manifest the fastest CAGR of 10.7% from 2021 to 2030. This is attributed to the significant investments in clinical trials by the government as well as private bodies.
North America Nanomedicine Market held the major share in 2020-
By region, North America dominated in 2020, garnering nearly two-fifths of the global nanomedicine market. Availability of advanced healthcare facilities along with trained medical professionals drives the market growth in the region. The market across Asia-Pacific, simultaneously, is expected to cite the fastest CAGR of 11.2% throughout the forecast period. Surge in incidence of various diseases and rise in R&D investments in the developing countries such as Japan and China accelerate the market growth.
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Nanomedicine Market: By Region Outlook
North America (U.S., Canada)
Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
Important Questions Being Answered by the Nanomedicine Market Report:
What is the Nanomedicine market size and growth?
What are the prominent and latest trends impacting the market?
Which is the largest regional market for Nanomedicine?
Key market players discussed in the Nanomedicine Market report include Abbott Laboratories, DiaSorin S.p.A., General Electric Company, Invitae Corporation, Johnson & Johnson, Leadient BioSciences Inc., Mallinckrodt plc, Merck & Co., Inc., Pfizer Inc., and Teva Pharmaceuticals Ltd.
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