Press release
Global Nanotechnology In Healthcare Market Estimated To Reach US$ 397.81 Billion by the end of 2032 with CAGR of 11.9%
Throughout the forecast period, the market for healthcare nanotechnology (nanomedicine) is anticipated to grow at a CAGR of nearly 11.9%.The application of nanotechnology presents fresh chances for the formulation of novel COVID-19 and other viral infections prevention, diagnosis, and treatment procedures. The administration of COVID-19 involved the creation of nano-based materials for treatments and vaccine development, including disinfectants, personal protective equipment, diagnostic systems, and nanocarrier systems. According to a study by Estefania V. R. Campos et al., which was published in the Journal of Nanobiotechnology in 2020, gold nanoparticles were functionalized with probes that had been surface-modified with thiol. These probes hybridise with the target and stop the nanoparticles from aggregating by salts, which prevents the nanoparticles from changing colour. Numerous factors, including the rising incidence of cancer and genetic and cardiovascular diseases, the development of nanoscale technologies for diagnostic procedures, and the rising demand for personalised medicines, are propelling the healthcare nanotechnology (nanomedicine) market.
Nanomedicine contributes to bettering human health and provides treatments for numerous fatal illnesses, including diabetes, Parkinson's, Alzheimer's, and other neurodegenerative and autoimmune diseases, cancer, Parkinson's, and orthopaedic and cardiovascular problems. According to Alzheimer's Disease International, there will be about 50 million dementia sufferers worldwide in 2020. Every 20 years, this population is anticipated to double, rising to 82 million in 2030 and 152 million in 2050.
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Market Segmentation:
The global nanotechnology in healthcare market can be segmented based on the application and region.
Based on application, the market can be segmented into:
Drug Delivery: Nanoparticles can be used to improve the effectiveness of drugs and reduce their side effects.
Diagnostics: Nanoparticles can be used as diagnostic tools to detect diseases at an early stage.
Implants: Nanotechnology can be used to create implants that are more biocompatible, durable and efficient.
Regenerative Medicine: Nanotechnology can be used to create scaffolds and biomaterials for tissue engineering.
Other Applications: This includes applications such as nanorobots for targeted therapy, nanosensors for monitoring health parameters, and nanomaterials for wound healing.
Key Players:
Abbott Laboratories
• AstraZeneca
• Bruker Corporation
• GE Healthcare
• Illumina Inc.
• Merck & Co. Inc.
• Nanobiotix
• Nanospectra Biosciences Inc.
• NanoString Technologies
• Pfizer Inc.
• Roche Holding AG
• Smith & Nephew plc
• Thermo Fisher Scientific Inc.
• Novartis AG
• Amgen Inc.
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Regional Analysis:
North America: The North American market for nanotechnology in healthcare is expected to be the largest due to the high demand for advanced technologies in the region. The presence of major players in the U.S. and Canada, along with government initiatives to promote research and development, are also contributing to the growth of the market in this region.
Europe: The European market for nanotechnology in healthcare is also expected to grow significantly due to increasing investments in research and development, along with the presence of key players in the region. The supportive regulatory environment and growing geriatric population are also expected to contribute to market growth.
Asia Pacific: The Asia Pacific market for nanotechnology in healthcare is expected to grow rapidly due to increasing healthcare expenditure, the presence of a large patient pool, and a growing demand for advanced healthcare technologies. Countries such as China, Japan, and India are expected to drive growth in this region.
Latin America: The Latin American market for nanotechnology in healthcare is also expected to grow due to increasing investments in research and development and the adoption of advanced technologies in the region.
Middle East and Africa: The Middle East and Africa market for nanotechnology in healthcare is expected to grow due to increasing healthcare expenditure, a growing demand for advanced technologies, and increasing investments by key players in the region.
Overall, the global nanotechnology in healthcare market is expected to witness significant growth due to the increasing demand for advanced healthcare technologies and the rising prevalence of chronic diseases.
Impact of COVID-19 on the global Nanotechnology in Healthcare Market:
The COVID-19 pandemic has had a mixed impact on the nanotechnology in healthcare market. On the one hand, the pandemic has increased the demand for advanced healthcare solutions and accelerated the adoption of nanomedicine technologies. For instance, nanotechnology-based solutions are being developed for COVID-19 diagnosis, treatment, and vaccine development. On the other hand, the pandemic has also caused disruptions in the supply chain, leading to delays in research and development activities and product launches. Moreover, the pandemic has resulted in a decrease in funding for research and development activities in some regions, which could negatively impact the growth of Nanotechnology in Healthcare Market in the short term. However, in the long term, the pandemic is expected to have a positive impact on Nanotechnology in Healthcare Market as it has highlighted the importance of advanced healthcare solutions and increased the focus on research and development in the healthcare sector. As a result, Nanotechnology in Healthcare Market is expected to witness significant growth in the coming years.
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Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as dominate the market.
• Analysis by geography, highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region.
• Competitive landscape, which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as future market outlook of the industry with respect to recent developments that involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions
• Includes an in-depth analysis of the market from various perspectives through Porter's five forces analysis.
• Provides insight into the market through the value chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
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