Nanomedicine Market (Neurology, Cardiovascular, Anti-inflammatory, Anti-infective, and Oncology Applications) - Global Industry Analysis, Size, Share,Growth, Trends and Forecast, 2013 - 2019
Albany, NY -- (SBWIRE) -- 11/20/2014 -- The Future Outlook for Nanomedicine Market is driven towards more Personalized Medicines:
The future of nanomedicines is drifting more towards novel multifunctional nanomedicines that will be designed as new generations of drug-delivery systems to target specific organelles, specific organs, or specific tissues. Nanomedicine market is already starting to realize its potential in Life Science and Healthcare industries, especially in clinical practice. In the coming years, an ever increasing number of products coming through the development pipeline of preclinical and clinical industries will accelerate significant growth in the global nanomedicine market.
Nanomedicine is an extremely functional market when it comes to the prevention, diagnosis, and treatment of diseases. Nanomedicine uses nano-sized devices to treat various diseases. The nanomedicine market also helps to gain an increased understanding of intricate and underlying patho-physiology of disease. Worldwide, there are approximately 38 medicine products and 200 companies involved in the nanomedicine market. With existing and new market players constantly investing billion dollars in the research and development (R&D) every year, the market is poised for further significant growth in the near future.
As the nanomedicine market continues to grow over the forecast 2013 - 2019, it is expected to have a remarkable impact on the global economy. Growing considerably from a value of US$78.54 billion in 2012, the global nanomedicine market will be worth US$177.60 billion by 2019. The overall market is expected to register a compounded annual growth rate of 12.3% between 2013 and 2019.
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Nanomedicine Market: An Overview of Growth Factors :
Some of the major factors that are likely to cause an increased growth rate in the nanomedicine market include the availability of a broad-ranging product portfolio, certainty of development of new medicines that are present in the development pipeline, rising geriatric population base, rising incidence of chronic diseases globally, prevalence of medical needs that are in need of severe treatment, and overall improvement in the regulatory framework of the market.
Initiatives to improve the existing drug efficacy based on increasing research activities and coupled with growing acceptance and government support are considered to be some of the vital driving factors in the nanomedicine market.
The development of a new nanomedicine takes around nine to 25 years; however, with some recent advent in technologies the development is boosted to a significant degree at the global level. The market for nanomedicine observes various technologies such as nanorods, dendrimers, micelles, nanoemulsions, nanopores, liposomes, nanocrystals, virosome nanoparticles, quantum dots, fullerenes and nanorobots.
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The introduction of new technologies and the scope of nanotechnology applications in medicine will recognize few significant opportunities and advance contributions relative to public healthcare.
Moreover, certain initiatives taken by different governments, as well as privately-funded organizations across the globe in the effort to promote development and commercialization of new nanomedicine products will also boost the overall growth in the market for nanomedicine.
Nanomedicine Market – By Application Segment Analysis :
The global nanomedicine market is segmented into cardiovascular, oncology, neurological, anti-inflammatory, anti-infective and other applications. The other applications segment includes hematology, dental, ophthalmology, orthopedic, kidney diseases, and other therapeutic and diagnostic applications of nanomedicines.
Within the nanomedicine market, the most leading application segment was that of oncology in 2012, holding a 38% share of the global market. This segment had a vast number of commercially available medicine products prevailing in the overall sector.
But even though, oncology is considered as the largest market segment within the nanomedicine market, the fastest growing sector is the cardiovascular market segment. Due to the demand for nanomedicine device and drugs and the presence of a sizeable patient population, the cardiovascular sector has witnessed abundant growth in the overall sector. Nevertheless, such factors are collectively anticipated to instill further growth into the cardiovascular segment present within the nanomedicine market.
Although, at present, North America holds the larger market share in the global nanomedicine market, the next-fastest growing region will be Asia-Pacific that it is anticipated to record a CAGR of 14.6% between 2013 and 2019.
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