Global Healthcare Nanotechnology (Nanomedicine) Industry Grows at a Staggering CAGR of 16.1%

Introduction

Life-threatening conditions that can be treated using nanomedicine include cancer, Parkinson's disease, Alzheimer's disease, diabetes, orthopedic ailments, and diseases of the blood, lungs, and cardiovascular system. The global healthcare nanotechnology (nanomedicine) market is expanding due to several factors, such as the increasing prevalence of cancer and genetic and cardiovascular diseases, the development of nanoscale technologies for diagnostic procedures, and the rising demand for personalized medicines. The need for efficient nanomedicine-based therapeutics to control dementia will probably increase due to the disease's high prevalence, driving market expansion.

Market Dynamics

Growing Prevalence of Cancer and Genetic and Cardiovascular Diseases Drives the Global Market

The global healthcare nanotechnology (nanomedicine) market is expanding due to several factors, such as the increasing prevalence of cancer and genetic and cardiovascular diseases, the development of nanoscale technologies for diagnostic procedures, and the rising demand for personalized medicines. Life-threatening conditions that can be treated using nanomedicine include cancer, Parkinson's disease, Alzheimer's disease, diabetes, orthopedic ailments, and diseases of the blood, lungs, and cardiovascular system.

According to Alzheimer's Disease International, 50 million people will have dementia globally by 2020. This population is expected to double every 20 years, reaching 81 million in 2030 and 150 million in 2050. The need for efficient nanomedicine-based therapeutics to control dementia will probably increase due to the disease's high prevalence, driving market expansion.

Increasing Advancements in the Nanoscale Technologies for Diagnostic Procedures Creates Tremendous Opportunities

Researchers from all over the world are starting to become interested in tools based on nanotechnology. A wide range of nanomaterials, including magnetic nanoparticles, metallic nanoparticles, carbon nanotubes, nanostructured surfaces, quantum dots, silicon nanowires, nanopores, graphene, and metal films, are currently being used to provide rapid diagnostic tests based on nanotechnology. Multipurpose nanoscale sensors have been created to identify various disease-causing agents, including foreign proteins/antigens and dangerous substances. For instance, a study by Amr El-Sayed et al., published in Environmental Science and Pollution Research Journal in 2019, found that new bio-barcodes were produced to target protein disease indicators, including prostate-specific antigens. (PSA). Based on anti-PSA antibodies, these biosensors can identify prostate cancer at an extraordinarily early stage.

Regional Analysis 

North America is the most significant revenue contributor and is anticipated to grow at a CAGR of 11.70% over the forecast period. The primary drivers of growth, which are expected to support market expansion in the United States, are technological advancements and related applications in early sickness identification, preventative intervention, and chronic and acute disorders prevention. According to the American Heart Association Research Report 2018, heart disease accounts for one in seven fatalities in the country. Coronary heart disease (43.8%), stroke (16.8%), heart failure (9.0%), high blood pressure (9.4%), artery problems (3.1%), and other cardiovascular illnesses (17.9%) were the leading causes of death from cardiovascular disease in the United States in 2018. As a result, there will be a massive market for specialized therapeutic nanovectors, nanostructured stents, and implants for tissue regeneration.

Europe is anticipated to grow at a CAGR of 12.30% during the forecast period. The French market is rising due to expanding collaborations between established enterprises and new nanomedicine organizations. Additionally, government support and increased R&D spending account for a sizable amount of the region's involvement in the industrial sector. Further, an increase in research funding and a rise in the demand for disease prevention are driving the regional market's expansion. According to the Fondation de France, one in three French people had substantial cardiovascular disease risk factors in 2019. Due to advanced R&D initiatives, new product launches, and an increase in the target condition's prevalence, it is projected that the market under investigation will grow significantly in France throughout the projection period.

Key Highlights

• The global healthcare nanotechnology (nanomedicine) market size was valued at USD 224.90 billion in 2022. It is projected to reach USD 389.42 billion by 2031, growing at a CAGR of 16.1% during the forecast period (2023-2031). 
• Based on application, global healthcare nanotechnology (nanomedicine) in the pharmaceutical industry is bifurcated into drug delivery, biomaterials, active implants, diagnostic imaging, and tissue regeneration. The drug delivery segment is the major contributor to the market and is estimated to exhibit a CAGR of 10.80% during the forecast period.
• Based on disease, the global healthcare nanotechnology (nanomedicine) market is bifurcated into cardiovascular, oncological, neurological, orthopedic, infectious, and other conditions. The oncological diseases segment is the major contributor to the market and is estimated to exhibit a CAGR of 13.80% during the forecast period.
• North America is the most significant revenue contributor and is expected to exhibit a CAGR of 11.70% during the forecast period.

Competitive Players

Competitive Players

The global healthcare nanotechnology (nanomedicine) market's major key players are Sanofi SA, Bristol-Myers Squibb Company (Celgene Corporation), CytImmune Sciences Inc., Johnson and Johnson, Novartis AG, Merck and Co. Inc., Nanobiotix, Pfizer Inc., Starpharma Holdings Limited, and Taiwan Liposome Company Ltd.

Recent Developments

Market News

• In January 2022, to create a NaNot that targets the soluble form of the immunological inhibitor PD-L1, produced by tumors, NaNotics LLC and the Mayo Clinic initiated a research partnership.
• In March 2021, for the developments in the European medical nanotechnology sector, a partnership between two Barcelona institutions and the University of Manchester's Nanomedicine Lab obtained financing totaling EUR 12 million.

Segmentation

Market Segmentation

By Applications

• Drug Delivery
• Biomaterials
• Active Implants
• Diagnostic Imaging
• Tissue Regeneration

By Disease

• Cardiovascular Diseases
• Oncological Diseases
• Neurological Diseases
• Orthopedic Diseases
• Infectious Diseases
• Other Diseases

By Regions

• North America
• Europe
• Asia-Pacific
• LAMEA