Nanomedicine Market Size, Share, Growth & Forecast | 2031

Report Description

Nanomedicine Market Outlook 2031

The global nanomedicine market size was valued at USD 174.13 Billion in 2022 and is projected to reach USD 466.45 Billion by 2031, expanding at a substantial CAGR of 11.57% during the forecast period, 2023-2031. The growth is attributed to the advancement of technology conjugated with various applications that are relevant and helpful in the early diagnosis and prevention of chronic and acute disorders.

Chemicals at nanometric scale and miniaturization of large structures are involved in nanotechnology. Nanomedicine refers to the application of nanotechnology for medicinal purposes to provide improvement of human health.

Get Free Sample Report

Using nanomedicine, the players are providing solutions for several life-threatening diseases including diabetes, cancer, Alzheimer’s disease, orthopedic diseases, Parkinson’s disease, and diseases related to the lungs, blood, and cardiovascular system. As per the reports by the Alzheimer's Disease International, there are nearly 50 million individuals suffering from dementia in 2020 and this figure is estimated to double every 20 years.

The COVID-19 pandemic outbreak had a positive impact on the nanomedicine market attributed to the ability of nanotechnology to develop unique strategies for the diagnosis, treatment, and prevention of the coronavirus.

The treatment and development of vaccines for COVID-19 management were done by the usage of nano-based materials including equipment for personal protection, nanocarrier systems, disinfectants, and diagnostics system. Rising experimental studies by scientists show that nanomedicine has been proven effective in the development of vaccines and can also be effective in dealing with the virus.

Nanomedicine Market Trends, Drivers, Restraints, and Opportunities

• Wide prevalence of cancer, cardiovascular, and genetic diseases is anticipated to fuel the growth of the market during the forecast period.
• Increase in healthcare initiatives taken by government organizations results in various developments in nanorobotics. Some of the key players are trying to target only the cancer cell with having no effect on surrounding non-cancer cells. This is expected to drive the market expansion in the coming years.
• Application of nanotechnology that is capable to deliver in the therapeutic sector and as well as in the diagnostic along with the application of DNA origami in healthcare are anticipated to propel the market growth.
• High cost of nanomedicines and strict & rigid regulations for commercialization of products are key challenges that are estimated to restrain the growth of the market.
• Development of advanced nanomolecules and advancement of technology associated with it are helping in the establishment of a potential pipeline for products. This is projected to create lucrative opportunities for the growth of the market.

Scope of Nanomedicine Market Report

The report on the global protein expression market includes an assessment of the market, trends, and segments. Overview and dynamics have also been included in the report.

Nanomedicine Market Segment Insights

Product Segment Analysis

On the basis of products, the global nanomedicine market is divided into therapeutics, vaccines, in-vitro diagnostics, in-vivo diagnostics, and regenerative medicine. The therapeutics segment held a major share of the market in 2019 and is expected to expand at a considerable growth rate due to the presence of several products available associated with various therapeutic methods.

Nanoparticles exhibit a unique property of physiochemical which is a proven technology to deliver the drugs at the required site of action. The drugs that are delivered using nanotechnology are less toxic and have excellent advantages.

Application Segment Analysis

Based on applications, the market is segmented into orthopedics, infectious diseases, clinical oncology, clinical cardiology, and others. The oncology segment held a large revenue share of the market in 2020 and is anticipated to exhibit a robust growth rate during the projected period due to the presence of plenty of products in the clinical phases of development for the treatment of cancer.

On the other hand, the clinical cardiology segment is anticipated to grow a fast pace in the coming years attributed to the existence of opportunities including tissue generation implantation, stents that are nanostructured, and therapeutic nanovectors.

Get Free Sample Report

Nanomolecule Type Segment Analysis

On the basis of nanomolecule types, the nanomedicine market is categorized as nanodevices, nanotubes, nanoshells, and nanoparticles. The nanoparticles segment is further divided into liposomes, inorganic nanoparticles, polymers & polymer-drug conjugates, dendrimers, hydrogel nanoparticles, and metal & metal oxide nanoparticles.

The metal & metal oxide nanoparticles segment is bifurcated into types and applications. The types segment is again divided into silver nanoparticles, gold nanoparticles, iron oxide nanoparticles, gadolinium oxide nanoparticles, alumina nanoparticles, and others. Meanwhile, the applications segment is sub-divided into in-vitro assays, in-vivo imaging, proton therapy, cell & phantom imaging, and targeted drug delivery.

The nanoparticles segment is anticipated to register a high CAGR during the forecast period due to the wide demand for nanoparticles and functionality of these molecules for various medicine applications. However, the metal & metal oxide nanoparticles segment is estimated to represent a major market share in the coming years attributed to their wide usage for diagnostics.

Regional Outlook

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America held a major market share in 2019 and is projected to account for a large market share in the coming years due to increasing partnerships between startup organizations for nanomedicine.

Moreover, rapid advancement of operating enterprises along with the increased spending for research & development and support provided by the government present another key drivers of the regional market growth. On the other hand, the market of Asia Pacific is anticipated to expand at a lucrative growth rate due to an increase in the number of life-threatening diseases and an increase in the research grants in the region.

Get Free Sample Report