Nanomedicine Market To Hit USD 634.2 Billion By 2032; Improvements In Drug Delivery And Therapeutics Witness Rising Momentum

(MENAFN- GlobeNewsWire - Nasdaq) With rising chronic disease rates and increasing collaboration between Pharmaceutical companies and academia, the nanomedicine market is poised for transformative innovations in drug delivery and therapeutic applications.

Pune, Oct. 14, 2024 (GLOBE NEWSWIRE) -- The SNS Insider report indicates that, “ Nanomedicine Market was valued at USD 223.6 billion in 2023 and is expected to reach USD 634.2 billion during the forecast period of 2024-2032, with a Compound Annual Growth Rate (CAGR) of 12.2% during the same period. ” This can be attributed to increased demand for advanced drug delivery systems coupled with the increasing incidence of chronic diseases along with enhanced therapeutic efficacy through advancements in nanotechnology. The potential nanomedicine has to transform treatment options attracts the scientific community and practitioners, as more healthcare systems continue to adopt personalized medicine.

Market Overview

The nanomedicine market refers to a host of areas, mostly application fields using nanotechnology for medical purposes such as disease diagnosis, treatment, and prevention. Demand for nanomedicine grew due to the accelerating rise in chronic diseases like cancer and diabetes, along with the focus on individualized treatment approaches. Advanced drug delivery systems resulting from nanotechnology ensure targeted drugs with fewer side effects and better efficacy in treatment. It is driven on the demand side by many research-oriented programs, investments in nanotechnology, and associations among academia and industry where a greater number of products based on nanomedicine start hitting the markets. With a strong force of innovation in diagnostics as well as therapeutics, the nanomedicine market is projected to grow exponentially in the coming years.

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Key Players:

• Johnson & Johnson Services, Inc.
• Mallinckrodt Pharmaceuticals
• Teva Pharmaceutical Industries Ltd.
• Arrowhead Pharmaceuticals, Inc.
• Abbott Laboratories
• CombiMatrix Corporation
• Celgene Corporation
• Nanospectra Biosciences, Inc.
• GE Healthcare
• Merck & Co., Inc.
• Pfizer, Inc.
• Sigma-Tau Pharmaceuticals, Inc.
• UCB SA
• Nanosphere, Inc.
• Leadient BioSciences Inc.
• Invitae Corporation
• DiaSorin S.p.A., and others.

Nanomedicine Market Report Scope:

Report Attributes	Details
Market Size in 2023	USD 223.6 Billion
Market Size by 2032	USD 634.2 Billion
CAGR	CAGR of 12.2% From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Report Scope & Coverage	Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments	. By Application (Therapeutics, in-vitro Diagnostics, Drug Delivery, In-vivo Imaging, Implants) . By Indication (Clinical Oncology, Infectious diseases, Clinical Cardiology, Orthopedics, Others) . By Molecule Type (Nanoparticles, Nanoshells, Nanotubes, Nanodevices)
Key Drivers	. Transforming Chronic Disease Management through Innovative Drug Delivery

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Segmentation

Based on Application

In 2023, the drug delivery segment held the leading position in the nanomedicine market, with a substantial market share of 34.09%. This can be attributed to the rise of chronic and infectious diseases, including cancer and COVID-19, alongside an increasing awareness of the potential of nanomedicine. Furthermore, research in drug delivery by nanomedicine is driving innovation in the field. For example, a new class of drug delivery system that can selectively target and release anticancer drugs to children with brain tumors was disclosed this March 2023, thanks to scientists from Memorial Sloan Kettering Cancer Center and Mount Sinai Health System.

By Indication

In 2023, the market was dominated by Clinical Oncology which occupied 32.4% market share. Market Trend: Increasing cancer prevalence has opened up the market for increased products in development, especially products at all stages of clinical processes, spurred on by advancements in therapeutic particles and devices. Further growth of active and passive targeting strategies in the given forecast period is expected in clinical oncology.

By Molecule Type

By 2023, nanoparticles had reached as high as 76.3% market share due to diversified advantages and increased applications of metal and metallic oxide particles in photodynamic therapy (PDT) for treatments of infectious diseases and cancer. Companies have been actively innovating to develop new technologies for nanoparticles. For instance, in January 2022, NaNotics LLC announced a collaboration with the Mayo Clinic to explore a subtractive nanoparticle designed to selectively target only the soluble form of the immune inhibitor PD-L1 produced by tumors.

Regional Analysis

The largest share in the market for nanomedicine in 2023 belonged to North America. This was primarily attributed to considerable investments in R&D alongside the headquarters of leading pharmaceutical companies in this region. Several significant companies are operating in the area of nanomedicine within the U.S. and consist of such prominent players as Amgen, Johnson & Johnson, and Pfizer, which are keenly participating in the research development, and commercialization of applications concerning nanomedicine. The rising incidence of chronic diseases, along with strong government backing for nanotechnology research, makes North America a leader in the market. Moreover, advanced healthcare infrastructures in the region make it easier to adopt new treatment modalities quickly, thereby increasing growth prospects in the market.

The Asia-Pacific region will grow the fastest in the nanomedicine market with a CAGR of 13.1% through 2032. A surge in demand for affordable healthcare solutions and rapid advancements in healthcare infrastructure and research funding initiatives are driving growth in nanomedicine applications in this region. Countries like China and India are already taking the lead, investing big in biotechnology as well as nanotechnology research. Other companies in the region, for instance, are Sihuan Pharmaceutical Holdings and Shanghai Junshi Biosciences, making massive investments in developing nanomedicine solutions for healthcare needs in that region.

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Recent Developments

• Nanoparticle-based Anti-cancer Drug Launch

June 2024

Novartis developed a new nanoparticle-based drug to treat ovarian cancer, with increased efficiency and fewer side effects.

• Partnership for Nanomedicine Research

Release Date: April 2024

Merck partnered with Stanford University to initiate nanomedicine research in developing new immunotherapy uses.

• FDA Approves Nanomedicine Device

Release Date: February 2024

BioNano Genomics received approval for a new nanomedicine device by the FDA from BioNano Genomics, which improves drug delivery among breast cancer patients.

• Launch of Nanotube-based Scaffolds

Release Date: January 2024

UC San Diego Researchers unveiled a series of nanotube-based scaffolds for tissue engineering with beneficial prospects in regenerative medicine.

• Targeted Nanomedicine for Diabetes

Launch Date: March 2024

Targeted nanomedicine product Eli Lilly launched to improve insulin delivery towards the treatment of diabetes disease.

Table of Contents – Major Key Points

1. Introduction

• Market Definition
• Scope (Inclusion and Exclusions)
• Research Assumptions

2. Executive Summary

• Market Overview
• Regional Synopsis
• Competitive Summary

3. Research Methodology

• Top-Down Approach
• Bottom-up Approach
• Data Validation
• Primary Interviews

4. Market Dynamics Impact Analysis

• Market Driving Factors Analysis
• PESTLE Analysis
• Porter's Five Forces Model

5. Statistical Insights and Trends Reporting

• Incidence and Prevalence (2023)
• Prescription Trends, (2023), by Region
• Drug Volume: Production and usage volumes of pharmaceuticals.
• Healthcare Spending: Expenditure data by government, insurers, and out-of-pocket by patients.

6. Competitive Landscape

• List of Major Companies, by Region
• Market Share Analysis, by Region
• Product Benchmarking
• Strategic Initiatives
• Technological Advancements
• Market Positioning and Branding

7. Nanomedicine Market Segmentation, by Application

8. Nanomedicine Market Segmentation, by Indication

9. Nanomedicine Market Segmentation, by Molecule Type

10. Regional Analysis

11. Company Profiles

12. Use Cases and Best Practices

13. Conclusion

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