Nanomedicine Market Analysis By Products (Therapeutics, Regenerative Medicine, Diagnostics), By Application (Clinical Oncology, Infectious diseases), By Nanomolecule (Gold, Silver, Iron Oxide, Alumina), & Segment Forecasts, 2018 - 2025

Industry Insights

The global nanomedicine market size was estimated at USD 138.8 billion in 2016. Technological advancements coupled with relevant applications in early disease diagnosis, preventive intervention, and prophylaxis of chronic as well as acute disorders are expected to bolster growth in this market. Nanotechnology involves the miniaturization of larger structures and chemicals at a nanometric scale which has significantly revolutionized drug administration, thus influencing adoption of the technology through to 2025.

Expected developments in nanorobotics owing to the rise in funding from the government organizations are expected to induce potential to the market. Nanorobotics engineering projects that are attempting to target the cancer cells without affecting the surrounding tissues are anticipated to drive progress through to 2025.

U.S. nanomedicine market by product, 2013 - 2025 (USD Billion)

Ability of the nanotechnology to serve in diagnostics as well as the therapeutic sector at the same time as a consequence of its characteristic principle is anticipated to augment research in this sector. Furthermore, utilization of DNA origami for healthcare applications is attributive to the projected growth.

Potential pipeline of products based on the nanomolecules and associated technologies is anticipated to drive market with potential avenues of growth. The presence of around 40% of products in phase II of clinical development, is anticipated to result in a number of key commercialization over the coming decade influencing revenue generation over the forecast period. The customized treatment options available for eradication of genetic abnormalities also makes this technology a substantial option for precision medicine.

Nanomedicine Market Trends

Development and commercialization of techniques that hold potential to significantly improve the administration of drugs and disease management is expected to drive the adoption of nanomedicines in this market. Furthermore, active participation of well-established pharmaceutical companies in development of novel nanoscience-based therapeutics is anticipated to influence the growth of this market.

Increase in R&D funding by government organizations is expected to provide lucrative avenues for market growth. Funds from government bodies help accelerate large-scale capital-intensive projects. For instance, in August 2020, to improve the nanoscale engineering, science, and technology, the National Science Foundation announced they will invest overall $84 million over 5 years in a re-establishment of the National Nanotechnology Coordinated Infrastructure. Moreover, other research organizations such as Canadian Institutes of Health Research (CIHR) and the Canadian Space Agency (CSA) are funded by the Canadian government for research in the field of nanomedicine and regenerative medicine

Use of nanotechnology-enabled systems for plaque imaging and endovascular theranostics in the detection of cardiovascular diseases such as atherosclerosis is expected to drive revenue in nano-functionalization and modification of surfaces. In addition, application of nanogels and nanocarriers as contrast agents and high precision optical nano-thermometry for improved nanoparticle-based hyperthermia treatments is anticipated to drive the nanomedicine market.

Increase in penetration of therapeutics segment in the nanomedicine market can be attributed to the rising usage of nanotechnology in drug delivery methods. Advancements with regard to nanorobotics, which is although in the nascent stage of development holds significant potential for market growth. Involvement of scientists for engineering nanorobots for targeting and destruction of malignant cells in cancer patients without affecting the healthy cells is expected to support product developments in the market. For instance, ITMO University, group of scientists from has come up with the idea of a novel drug against cancer: a nanorobot which is made of DNA fragments, and can possibly be used not only to abolish cancer cells but also to detect them in the body

Adverse effects associated with intake of nanoparticles and lower adoption rate by patients hampers the market growth. Owing to properties of nanoparticles such as solubility and ability to spread within the body, they pose significant hazard on the pulmonary organs, thereby restricting their adoption.

Presence of regulatory gap pertaining to commercialization coupled with requirement of sophisticated infrastructure for R&D in this market can be attributed to the limited adoption of technology by the industry players. Research challenges for implementation of this technology include synthesis, quantitative determination of physical, chemical, and functional properties; reproducibility, tracking, in vivo assessment, and imaging of materials. However, FDA’s approach for effective regulation of nanotechnology-based products is expected to lower the impact of the restraints in the coming years.

Product Insights

Therapeutics accounted for the major share in revenue in 2016 owing to the presence of several products falling in this category. Drugs and devices as well as the drug delivery systems fall under the therapeutic category for the treatment of several diseases.

Due to the unique physicochemical properties exhibited by nanoparticles, these serve as a promising technology for delivery of drugs to desired site of action. Additionally, nanotechnology-enabled drug delivery system enables drug administration with excellent advantages due to characteristic features of enhancement of the cellular penetration of given drug and lowering its toxicity.

These benefits are anticipated to shed positive light on nanotechnology for drug delivery as an emerging product line, thereby impacting growth during the forecast period. Development of novel delivery products by utilizing the different kinds of nanoparticles is expected to fuel growth in this segment

Application Insights

Application wise the segmentation encompasses oncology, infectious diseases, cardiology, orthopedics, and other applications. Oncology dominated with respect to revenue share of about 47% in 2016.

Abundance of products present in the clinical phases of development, for cancer treatment coupled with advancements for introduction of theranostic particles and devices are attributive for the larger share of cancer diseases. The technique possesses the ability to serve as a tool for active and passive targeting of cancer.

However, cardiology is anticipated to exhibit the fastest progress with a CAGR of approximately 11.7% over the forecast period owing to the presence of opportunities such as demand for specific therapeutic nanovectors, nanostructured stents, and implants for tissue regeneration.

Nanomolecule Type Insights

There are different types of nanomolecules that can be used in the healthcare sector. These molecules include quantum dots, nanoparticles, nanoshells, nanotubes, and nanodevices. Nanoparticles comprise metal & metal oxide nanoparticles, liposomes, dendrimers, conjugated polymers.

Application of the nanoparticles in different areas of healthcare is expected to boost growth in the coming years. Ability of these molecules to get attached to the chemical moieties in the form of scaffolds enables them to perform diverse functions. Utilization of nanoparticles for active targeting by binding it to ligands of a cell receptor is also one of the important tools of nanotechnology.

Metal & metal oxide nanoparticles are likely to witness high demand in this market owing to their widespread usage in diagnostics. Research carried out in order to develop theranostics is anticipated to influence industrial growth.

Regional Insights

North America dominated the nanomedicine market and accounted for the largest revenue share of 45.76% in 2021. The region is anticipated to continue its dominance over the forecast period. This growth can be attributed to the presence of increasingly growing partnerships between enterprises operating herein and nanomedicine startup organizations. Furthermore, support from government entities coupled with higher R&D spending is attributive to the region's largest share in the industrial space.

The rise in the number of research grants and an upsurge in demand for prophylaxis of life-threatening diseases in the U.S. drives the market growth The country also has a high pool of manufacturing companies with robust strategic activities in nanomedicine. For instance, in October 2020, Advanced NanoTherapies raised $5.3 Million in Seed-Round Financing to accelerate the progress of its drug delivery technology platform based on nanoparticle to treat the peripheral artery disease and other various applications.

Nanomedicine market, by region, 2016 (%)

Increased citizens’ participation in nanoscience and nanotechnology-related consensus conferences is expected to dramatically impact the growth of nanomedicine market in China in the coming years. For instance, 9th International Conference on Nanoscience and Technology, China (ChinaNANO 2022) will be held in Beijing, China in August 2022. The objective of the conference is to share scientific breakthroughs, progresses in industry sectors, technological advances, and emerging challenges and opportunities.

Competitive Insights

Major players operating in this market are Combimatrix Corp, Ablynx NV, Abraxis Bioscience Inc., Celgene Corporation, Teva Pharmaceutical Industries Ltd, Arrowhead Research, GE Healthcare, Merck & Co. Inc., Pfizer Inc., and Nanosphere, Inc. These players are involved in gaining the U.S. FDA approvals in order to enhance the market presence.

For instance, in February 2017, the company received approval from the European Commission for its REVLIMID (lenalidomide) as monotherapy for treatment of patients with adult patients with multiple myeloma. This approval allows company to distribute its product in European countries, thereby enhancing company’s presence in the Europe market.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at regional & country level and provides an analysis on the latest trends and opportunities in each of the sub-segments from 2013 to 2025. For the purpose of this report, Grand View Research has segmented the nanomedicine market on the basis of product, application, nanomolecule type, and regions:

• Product Outlook (Revenue, USD Billion; 2013 - 2025)

  • Therapeutics

  • Regenerative medicine

  • In-vitro diagnostics

  • In-vivo diagnostics

  • Vaccines

• Application Outlook (Revenue, USD Billion; 2013 - 2025)

  • Clinical Oncology

  • Infectious diseases

  • Clinical Cardiology

  • Orthopedics

  • Others

• Nanomolecule Type Outlook (Revenue, USD Billion; 2013 - 2025)

  • Nanoparticles

    • Metal & Metal Oxide Nanoparticles

      • By Type

        • Gold Nanoparticles

        • Silver Nanoparticles

        • Iron Oxide Nanoparticles

        • Alumina Nanoparticles

        • Gadolinium Oxide Nanoparticles

        • Others

      • By Application

        • In-vivo Imaging

        • Targeted Drug Delivery

        • Proton Therapy

        • In-vitro assays

        • Cell & Phantom Imaging

    • Liposomes

    • Polymers & polymer drug conjugates

    • Hydrogel nanoparticles

    • Dendrimers

    • Inorganic nanoparticles

  • Nanoshells

  • Nanotubes

  • Nanodevices

• Regional Outlook (Revenue, USD Billion; 2013 - 2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • The U.K.

  • Asia Pacific

    • Japan

    • China

  • Latin America

    • Brazil

  • Middle East and Africa (MEA)

    • South Africa