San Francisco, CA -- (SBWIRE) -- 06/23/2014 -- The global market for healthcare nanotechnology is expected to reach USD 196.02 billion by 2020 growing at a CAGR of 12.1%, according to a new study by Grand View Research, Inc. Increasing susceptibility of patients towards chronic diseases such as cardiovascular, neurological, oncology and respiratory diseases coupled with increasing R&D spending opening new application avenues is expected to drive market growth over the next six years. Other drivers of this market include increasing government and private sector R&D aid and new players entering the market to bridge the gap between supply and demand.
Clinical oncology nanotechnology applications dominated the overall market in 2013, accounting for 35% of total market revenue. Higher efficacy of nanomaterials and the ability of engineered nanoparticles to cross through the blood brain barrier provides platform for groundbreaking innovations through R&D in the field of cancer therapy and serves this market as a high impact rendering driver.
The report “Healthcare Nanotechnology (Nanomedicine) Market Analysis By Application (Drug Delivery System, Molecular Diagnostics, Clinical Oncology, Clinical Neurology, Clinical cardiology, Anti-inflammatory, Anti-infective) And Segment Forecasts To 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/healthcare-nanotechology
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Further key findings from the study suggest:
- North America was the largest regional market in 2013, accounting for over 38% of global revenue on account of the extensive investments in research and development of innovative cancer therapies.
- Asia Pacific owing to its improving healthcare infrastructure and healthcare R&D spending is expected to grow at the highest CAGR of over 14.0% from 2014 to 2020. Moreover, emerging markets such as China and India hold a large amount of untapped opportunities and are therefore expected to fuel future market growth.
- Cardiovascular applications are expected to be the fastest growing segment for this market, owing to the growing global prevalence of cardiovascular diseases.
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For the purpose of this study, Grand View Research has segmented the global healthcare nanotechnology market on the basis of fields of application and region:
- Healthcare Nanotechnology Application Outlook
- Drug delivery Systems
- Molecular Diagnostics
- Clinical Oncology
- Clinical Neurology
- Clinical Cardiology
- Anti-inflammatory and Anti-infective applications
- Healthcare Nanotechnology Regional Outlook
- North America
- Asia Pacific
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