Technological Advancement in Healthcare Industry Driving Nanomedicine Market at a CAGR of 12.6% from 2017 to 2023

According to a new report published by Allied Market Research, titled, “Nanomedicine Market by Modality, Application, and Indication: Global Opportunity Analysis and Industry Forecast, 2017-2023,” the Global Nanomedicine Market was valued at $111,912 million in 2016, and is projected to reach $261,063 million by 2023, growing at a CAGR of 12.6% from 2017 to 2023. The drug delivery segment accounted for nearly two-fifths share of the global market in 2016.

The key players operating in the global nanomedicine market are Abbott Laboratories, CombiMatrix Corporation, General Electric Company, Sigma-Tau Pharmaceuticals, Inc., Johnson & Johnson, Mallinckrodt plc, Merck & Company, Inc., Nanosphere, Inc., Pfizer, Inc., and Teva Pharmaceutical Industries Ltd. The other prominent players in the value chain include Celgene Corporation, UCB (Union Chimique Belge) S.A., AMAG Pharmaceuticals, Nanospectra Biosciences, Inc., Arrowhead Pharmaceuticals, Inc., Leadiant Biosciences, Inc., Epeius Biotechnologies Corporation, Gilead, and Cytimmune Sciences, Inc.

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Drivers, Restraints, and Opportunities

The global nanomedicine market is driven by emerging technologies for drug delivery, increase in adoption of nanomedicine across varied applications, rise in government support & funding, growth in need for therapies with fewer side effects, and cost-effectiveness of therapies. However, long approval process and risks associated with nanomedicine (environmental impacts) restrain the market growth. In addition, increase in out-licensing of nanodrugs and growth of healthcare facilities in emerging economies are anticipated to provide numerous opportunities for the growth of nanomedicine market.

The global nanomedicine market is segmented based on modality, application, indication, and region. Based on application, it is classified into drug delivery, diagnostic imaging, vaccines, regenerative medicine, implants, and others. On the basis of indication, it is categorized into oncological diseases, neurological diseases, urological diseases, infectious diseases, ophthalmological diseases, orthopedic disorders, immunological diseases, cardiovascular diseases, and others. Based on modality, it is bifurcated into treatments and diagnostics. Regionally, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Findings of the Nanomedicine Market:
• The regenerative medicine segment is anticipated to grow at the highest CAGR of 13.8% during the forecast period.
• The U.S. was the major shareholder in the North America nanomedicine market in 2016.
• The oncological diseases segment accounted for one-third share in the global market in 2016, and is expected to maintain this trend throughout the forecast period.
• China occupied one-third share of the Asia-Pacific nanomedicine market in 2016, registering a CAGR of 14.3% from 2017 to 2023.
• The treatment segment dominated the market with about fourth-sevenths of the overall share of the market in 2016.

In 2016, Asia-Pacific and LAMEA collectively accounted for about one-fourth share of the global market, and is expected to continue this trend due to increased adoption of nanomedicines, especially in China, India, and the other developing economies. In addition, rise in investments by key players in the field of nanomedicines is key driving factor of the Asia-Pacific market.

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