Rising Number of Cancer Cases Globally will Enhance the Growth of Nanomaterials in Theranostics Market

Theranostics refers to the fusion of molecular diagnostic tests and targeted therapeutics in a collaborative manner for specific disease subtype and genetic profile. For example Docetaxel equipped with Quantum dots in a form of polymeric nanoparticles can measure large variety of biomarkers and delivers drug with lower side effects. Theranostic nanoparticles are rationally better therapeutic and diagnostic agents than traditional counterparts owning to their advanced capabilities such as stimulus responsive agent release, synergetic performance, controlled release, targeted delivery and higher transport efficiency by endocytosis.

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Nanotheranostics can be promising even for fatal diseases such as cancer, AIDS and cardiovascular diseases. Theranostics application in treatment offers high selectivity, sensitivity and fewer complications, thus saving resources and enhancing the quality of life for the patients. Theranostic nanomedicine has evolved to encompass integrate biocompatible nanoparticle platforms that contain both therapeutic and imaging components. Advanced theranostic nanomedicine is multipurpose in nature. It delivers therapeutics to the targeted receptor with the help of bioligands and markers.

Increasing prevalence of serious and life threatening diseases will drive the growth of nanomaterials in theranostics market. Moreover, the combined ability of theranostics to detect and treat the diseases will also augment the expansion of this market. Rising number of cancer cases globally will further enhance the growth of this market as in current therapeutic regimen, theranostics is considered to be one of the most effective treatments of the same. According to Cancer Research U.K., 14.1 million cancer cases were recorded in 2012 alone. Recent partnership/collaboration between pharmaceutical and medical devices companies has shown immense possibilities in future growth. However, imminent regulatory issues, strict approval requirements and high development cost are some of the major challenges to the market growth.

The nanomaterials in theranostics market are segmented based on type of nanomaterial namely, biological, organic and inorganic. The biological nanomaterials utilized in theranostics are proteins, antibodies. The organic nanomaterials segment includes nano-analytical probes, molecular medicines, liposomes, fullerenes, and other carbon nanomaterials. Gold nanoparticles, silica nanoparticles, nanocrystals, and quantum dots are few examples of inorganic naomaterials in theranostics. Among numerous types of nanomaterials developed, carbon nanomaterials have attracted significant attraction owing to its highly-enriched distinctive physical and chemical properties. Protein drugs and antibodies were the largest segment in nanotheranostics market followed nanocrystals, liposomes, gold particles and quantum dots. The biological nanomaterials are expected to dominate theranostics market during forecasted period 2014-2020.

Based on geography, the nanomaterials in theranostics market can be segmented into four major regions: North America, Europe, Asia Pacific and Rest of the World (RoW). North America is the largest market followed by Europe for nanomaterials in theranostics. In U.S. Theranostics enjoys widespread acceptability for variety of medical condition, strong patient and physician awareness regarding treatment benefits, and extensive marketing efforts from manufacturers.

The European market is less mature in context with patient awareness of theranostics as a therapeutic option. However it is expected to grow immensely in coming years with the approval of new indication in therapeutic as well as in diagnostic segment. Asia Pacific is also expected to be one of the emerging market markets for the growth nanomaterials in theranostics market owning to increasing focus on research and development, cheap procurement and production facilities and increasing patient population base.

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Some of the key players operating in this market globally include Abalonyx, NANOMAT, Inc., Berkeley Advanced Biomaterials Inc., Affymetrix, Aldlab Nanotech, ACS Materials, AMAG Pharmaceuticals, Applied Graphene Materials, ABC Nanotech, A.P. Pharma, Inc., Advanced Proteome Therapeutics, Inc., Monogram Biosciences, Nanocarrier Co. Ltd. and Liquidia Technologies, Inc. among other significant players.

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