Category

Nanotechnology In Global Healthcare Market Size, Share, Opportunities And Trends By Component (Nanomedicines, Nanomedical Devices), By Type (Drug Delivery, Nanoscale Therapeutics, Biosensors, Implantable Devices, Imaging Devices), By Application (Oncology, Cardiovascular, Neurology, Anti-infectory, Anti-inflammatory, Others) And By Geography - Forecasts From 2019 To 2024

Published: May 2020 | Report Code:  KSI061612600 | Pages:  110

It is a well established fact that the future of healthcare lies in the field of nanotechnology. The technology is set to change healthcare forever. Nanomedicine and healthcare market is expected to grow at a compound annual growth rate (CAGR) of 9.50%, rising from US$89.783 billion in 2018 to US$154.809 billion in 2024. Nanotechnology offers an opportunity to work at the same scale of several biological processes, organic molecules, and cellular mechanisms, hence providing a huge impetus for innovation in healthcare and medicine, with a plethora of advances such as drug delivery systems, implantable devices, biosensors, nanoscale therapeutics, and imaging technologies. Among these, drug delivery systems constitute a huge market-share with anticancer treatment being the major contributor.

Looking at the potential applications of nanotechnology to the healthcare sector, biopharmaceutical and medical devices companies are increasingly partnering with nanomedicine and nano healthcare start-ups. These partnerships will trigger rapid investment in R&D which, in turn, will drive the demand for nanotechnology solutions in the healthcare market. Moreover, rapid development in minimally and non-invasive surgical technologies are expected to boost this market in the upcoming years. However, lack of funding from traditional sources of finance because of asymmetric information as well as a high-risk/high-return scenario in the short-run is a major restraint in the healthcare nanotechnology market. Apart from this, dealing with strict government regulations relating to this market is another factor restraining the growth of the nanotechnology in the global healthcare market. A rapidly increasing percentage of aging population and growing cases of chronic diseases among the global population is likely to provide ample opportunities for more innovative solutions in healthcare in which nanotechnology is a sure leader.

Geographically, significant growth has been observed in US markets and is expected to be one of the market leaders as far as the growth in nanomedicine is concerned. The top emerging markets will be in the Asia-Pacific region while Africa and Middle-East will see some growth in the upcoming years. The booming medical tourism industry in India is projected to bolster the demand for nanotechnology in the healthcare market.

DRIVERS

Higher investment in R&D in nanomedicine and devices with major pharmaceutical companies tying up with nanotech start-ups.
Rapid and pervasive development in minimally and non-invasive surgical technologies.

RESTRAINTS

Asymmetric information and high risk / high-return scenario in the short run leads to less financing from traditional sources of funding.
Stricter regulations by government bodies like FDA due to safety risks posed by this technology lead to higher costs to introduce nanomedicine products in the market.

RECENT DEVELOPMENTS

In the University of Michigan, engineers are developing ways to use nanotechnology in non-invasive surgery
A Northwestern University team has developed a method of optimizing spherical nucleic acids, which could revolutionize nanomedicine for cancer immunotherapy in the future.
Lauren Sciences LLC wins AU$1 million grant award from FightMND to develop a transformative nanomedicine for brain diseases.

Segmentation

The nanotechnology in healthcare market has been analyzed through the following segments:

By Component

Nanomedicines
Nanomedical devices

By Type

Drug delivery
Nanoscale therapeutics
Biosensors
Implantable devices
Imaging devices

By Application

Oncology
Cardiovascular
Neurology
Anti-infectory
Anti-inflammatory
Others

By Geography

North America
USA
Canada
Others

South America
Brazil
Argentina
Others

Europe
Germany
United Kingdom
France
Others

Middle East and Africa
Saudi Arabia
Israel
UAE
Others

Asia Pacific
Japan
South Korea
China
India
Others


Frequently Asked Questions (FAQs)

Q1. What will be the nanotechnology in healthcare market size by 2024?
A1. The nanomedicine and healthcare market is expected to reach a total market size of US$154.809 billion by 2024.
 
Q2. What is the size of nanotechnology in global healthcare market?
A2. Nanomedicine and Healthcare market was valued at US$89.783 billion in 2018. 
 
Q3. What are the growth prospects for nanotechnology in healthcare market?
A3. The global nanomedicine and healthcare market is expected to grow at a CAGR of 9.50% during the forecast period.
 
Q4. Which region holds the largest market share in the nanotechnology in healthcare market?
A4. The Asia Pacific region will witness a significant increase in demand for construction machinery as this region is in a phase of accelerated development and various governments are spending heavily on infrastructural development to promote robust growth across industry verticals.
 
Q5. What factors are anticipated to drive nanotechnology in healthcare market growth?
A5. Rapid development in minimally and non-invasive surgical technologies is expected to boost this nanotechnology in healthcare market in the upcoming years.

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