GVR Report cover Nanomedicine Market Size, Share & Trends Report

Nanomedicine Market Size, Share & Trends Analysis Report By Application (Drug Delivery), By Indication (Clinical Oncology, Infectious Diseases), By Molecule Type (Nanoparticles), By Region And Segment Forecasts, 2022 - 2030

  • Report ID: 978-1-68038-942-5
  • Number of Pages: 150
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2020
  • Industry: Healthcare

Report Overview

The global nanomedicine market size was valued at USD 159.53 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 11.7% from 2022 to 2030. Development and commercialization of the techniques that holds potential to significantly improve the administration of drugs and disease management is expected to drive the adoption of nanomedicines in this market. Furthermore, growing adoption of nanotechnology-based drug delivery methods coupled with inefficiency of conventional therapeutics in disease treatment has driven the nanomedicine market growth.

 Canada nanomedicine market size, by application, 2020 - 2030 (USD Billion)

According to the reports, COVID-19 has a positive effect on the market for nanomedicine. This resulted from an increase in the need for nanomedicines used for the treatment of medical conditions that resemble cancer. Additionally, applications of nanomedicine opened up new possibilities for the introduction of innovative solutions designed for the prevention, detection, and treatment of viral diseases such as the COVID-19 virus thereby boosting the nanomedicine industry growth.

Furthermore, the active participation of well-established pharmaceutical companies in the development of novel Nano science-based therapeutics is anticipated to influence the growth of this market. Moreover, advancements in nanotechnology and its expanding applications in preventive interventions, early disease diagnosis, prevention of chronic as well as acute disorders, and prophylaxis of acute as well as chronic disorders are the factors expected to spur the nanomedicine industry growth.

Manufacturers are benefiting from significant growth prospects in the global market as a result of the growing demand for nanomedicines. The field of nanomedicine is growing in the healthcare sector and is being more widely used in medical and healthcare settings. Furthermore, it is projected that the active involvement of prominent pharmaceutical companies in the production of cutting-edge nanoscience-based medicines will have an impact on the development of this industry.

Government organizations are likely to increase their R&D funding, opening up attractive opportunities for the nanomedicine market expansion. Governmental funding aids in accelerating massive capital-intensive projects. For instance, the National Science Foundation stated in August 2020 that it will invest a total of $84 million during five years in re-establishing the National Nanotechnology Coordinated Infrastructure in order to advance Nano scale engineering, science, and technology.

Moreover, The 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. Therefore, it will drive the nanomedicine market growth in the coming years.

Application Insights

The therapeutics segment is anticipated to witness a significant growth rate of 14.1%from 2022-2030, due to the existence of numerous products that fit into this category for the treatment of various ailments. These include medications, equipment, and drug delivery systems. Additionally, technological advancements facilitating the development of Nanotherapeutics that can cross biological barriers is anticipated to drive the nanomedicine market during the forecast period.

The drug delivery market contributed significantly to the overall market in 2021 as a result of rising rates of diseases including cancer and the COVID-19 virus as well as growing public awareness of the potential uses for nanomedicines. In addition, the effectiveness of nanotechnology in drug delivery will be attributed to improvement in reticule-endothelial system evasion, vivo dispersion, and favorable pharmacokinetics, thus, propelling the nanomedicine market growth.

Indication Insights

The clinical oncology segment dominated the nanomedicine market with revenue of USD52.96billionin 2021 and exhibits the fastest growth rate during the projected period. The increased prevalence of cancer disorders is attributed to the vast number of cancer treatment products now in the clinical stages of development as well as developments in the introduction of theranostic particles and devices. The method has the capacity to be used as a tool for both active and passive cancer targeting, thus, propelling market growth.

The need for developing more targeted cancer therapies is a key factor expected to drive R&D for clinical oncology. Nanomedicine is a rapidly evolving treatment modality owing to its targeting efficiency and fewer adverse effects in cancer treatment. Targeting a wide variety of cancers and tumors is considered as the major preclinical and clinical application of nanomedicine.

Molecule Type Insights

The nanoparticles segment held the highest share of 75.18% in 2021, accounting for the fastest growth rate throughout the forecast period. Due to the benefits that various nanoparticles offer, in addition to the growing usage of metal and metal oxide particles in photodynamic therapy (PDT) for the treatment of infectious diseases and cancer, product demand is raising, leading to significant market growth.

 Global nanomedicine market share, by molecule type, 2021 (%)

The use of nanoparticles in various healthcare settings is anticipated to spur expansion in the subsequent years. These molecules can carry out a variety of tasks owing to their capacity to bind to chemical moieties in the form of scaffolds. One of the key techniques of nanotechnology is the use of nanoparticles for selective binding by attaching them to ligands of cell receptors. Thus, it will drive market growth.

Regional Insights

North America dominated the regional market with a share of 47.58% in 2021. During the course of the forecast period, the region is expected to retain its leadership. This expansion can be ascribed to the existence of expanding alliances between businesses working in this area and nanomedicine start-up companies. Furthermore, the region's significant participation in the industrial sector is due to the support from governmental bodies combined with increased R&D expenditures.

The expansion of the market is driven by an increase in research funding and a rise in demand for life-threatening illness prophylaxis in the United States. The nation also boasts a sizable number of manufacturing firms with active strategic ventures in nanomedicine. To speed up the growth of its drug delivery development platform focused on nanoparticles to treat peripheral artery disease and other various applications, for instance, Advanced NanoTherapies raised $5.3 Million in Seed-Round Financing in October 2020.

Nanomedicine Market Trends by Region

In the upcoming years, the expansion of the nanomedicine market in Asia Pacific is anticipated to be significantly impacted by the increased public engagement in consensus conferences connected to nanoscience and nanotechnology. For instance, in August 2022 Beijing, China hosted the 9th International Conference on Nanoscience and Technology, China (China NANO 2022). The conference's goal is to disseminate scientific breakthroughs, developments in specific industry areas, technical advancements, new possibilities, and problems

Key Companies & Market Share Insights

Key players in this market are implementing various strategies including partnerships through mergers and acquisitions, geographical expansion, and strategic collaborations to expand their market presence. For instance, in January 2022, NaNotics LLC stated research cooperation with Mayo Clinic in order to develop a NaNot that specifically targets the soluble form of the immune inhibitor PD-L1, which is produced by tumors. Some of the prominent players in the global nanomedicine market include:

  • Abbott Laboratories

  • Combi Matrix Corporation

  • Celgene Corporation

  • Nano spectra Biosciences, Inc.

  • General Electric

  • Johnson & Johnson Services, Inc.

  • Mallinckrodt Pharmaceuticals

  • Merck & Co., Inc.

  • Pfizer, Inc.

  • Teva Pharmaceutical Industries Ltd.

  • Arrowhead Pharmaceuticals, Inc. 

Nanomedicine Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 176.09 billion

Revenue forecast in 2030

USD 427.18 billion

Growth rate

CAGR of 11.7% from 2022 to 2030

Base year for estimation

2021

Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD billion, CAGR from 2022 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, trends

Segments covered

Application, indication, molecule type, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; Germany; UK, France, Italy, Spain China; Japan, India, Australia, South Korea; Brazil, Mexico, Argentina; South Africa, Saudi Arabia, UAE.

Key companies profiled

Abbott Laboratories; Combi Matrix Corporation; Celgene Corporation; Nano spectra Biosciences, Inc.;General Electric; Johnson & Johnson Services; Inc.; Mallinckrodt Pharmaceuticals;Merck & Co., Inc.;Pfizer, Inc.; Teva Pharmaceutical Industries Ltd.; Arrowhead Pharmaceuticals, Inc.

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Global Nanomedicine Market Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest trends in each of the sub-segments from 2020 to 2030. For this report, Grand View Research has segmented the global nanomedicine market based on the application, indication, molecule type, and region.

Global Nanomedicine Market Segmentation

  • Application Outlook (Revenue, USD Million, 2018 - 2030)

    • Therapeutics

    • Active Implants

    • In-vitro Diagnostics

    • Drug Delivery

    • In-vivo Imaging

    • Implants

  • Indication Outlook (Revenue, USD Million, 2018 - 2030)

    • Clinical Oncology

    • Infectious diseases

    • Clinical Cardiology

    • Orthopedics

    • Others

  • Molecule Type Outlook (Revenue, USD Million, 2018 - 2030)

    • Nanoparticles

      • Metal & Metal Oxide Nanoparticles

      • Liposomes

      • Polymers & Polymer Drug Conjugates

      • Hydrogel Nanoparticles

      • Dendrimers

      • Inorganic Nanoparticles

    • Nano Shells

    • Nano Tubes

    • Nano Devices

  • Regional Outlook (Revenue, USD Million, 2018 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • UK

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • Japan

      • India

      • South Korea

      • Australia

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • UAE 

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