Nanoparticles Market Revenue Growth Predicted by 2026
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Due to a wide variety of potential applications in biomedical, optical, and electronic fields the nanoparticle research is currently an area of intense scientific research. There are various applications of nanoparticles in drug delivery. Nanotechnology is widely used in the health care industry in applications such as neurology, anti-infective, cardiovascular disorders, and others. The expanding medical diagnostics industry, increasing growth in advance healthcare technology and high advantages in medicinal imaging applications are some of the key drivers that are fuelling the growth of global nanoparticles market. Rising government spending on pharmaceutical & biotech R&D and increasing focus on nanotechnology research also anticipated to boost the growth of global nanoparticles market. However, high product development and research and development expenses is anticipated to hamper growth of the global nanoparticles market. The development of methods to evaluate the toxicity of engineered nano-materials and development of tools to assess risk in human health and in the environment could be the challenges for growth of the global nanoparticles market.
Based on technology, the global nanoparticles market has been segmented into liposomes, polymer-conjugated drugs, polymeric nanoparticles, Dendrimers, inorganic nanoparticles and others. The segment dominated the market as key nanoparticles such as dendrimers, inorganic nanoparticles like gold nanoparticles are used in pharmaceutical drug delivery. The nanotubes segment is expected to expand at the highest CAGR during the forecast period from 2016 to 2024. Based on technology, the global nanoparticles market has been segmented into biotechnology, drug development & drug delivery. Applications of nanoparticles in drug development and drug delivery expected to increase with advanced healthcare technology during the forecast period from 2016 to 2024.
On the basis of regional presence, global nanoparticles market is segmented into five key regions viz. North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. In 2014 North America dominated the global nanoparticles market. The factors like increasing incidence of chronic diseases such as cancer and diabetes in the region fueled the growth of the nanotechnology drug delivery market in North America. However, the market in Europe and Latin America is projected to expand at the highest CAGR during the forecast period.
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Some of the major players in global nanoparticles market are Abraxis Biosciences, Inc., Novartis International AG, Gilead Sciences, Inc., Johnson & Johnson, Sigma-Tau Pharmaceuticals, Inc. Amgen, Inc., and Nano Interface Technology, Inc. The entry of existing key players in emerging countries and product development with enhanced technology in nanoparticles is expected to create competition in the global nanoparticles market.
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