Nanomedicine Market : Share, Size, Global Trend, Growth Analysis to 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.

Nanomedicine is one of the applications of nanotechnology used in diagnosis, treatment, monitoring, and control of biological systems. Nanomedicine uses nanoscale manipulation of materials to improve medicine delivery. Thus, nanomedicine has facilitated the treatment against various diseases. Nanomedicine is in nascent stage, as several products are in the development phase. According to Nanobiotix (a nanomedicine company), in 2015, around 230 nanomedicine products were identified, which are either marked or are in the trial phase. Moreover, as per the company, there are 49 nanomedicine products in the market, whereas 122 products are in the clinical pipeline either in Phase II or Phase III trials.

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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.

The vaccines segment is expected to register a significant CAGR of 13.2% throughout the forecast period. The treatment segment accounted for about fourth-sevenths share in the global market in 2016, accounting for the highest share during the forecast period. This is due to the high demand for therapeutics among patient and rise in the incidence of chronic diseases.

The neurological diseases segment is expected to grow at the highest CAGR of 13.9% during the forecast period, owing to high demand for brain monitoring & treatment devices and drugs. The oncological diseases segment accounted for the highest revenue in 2016, with one-third share of the global market, and is expected to maintain its dominance throughout the forecast period.

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.

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.

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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