Reportlinker.com announces the release of the report “Global Nanomedicine Market, By Nanomolecule Type, By Nanoparticle Type, By Application By Disease Indication, By Region and Competition Forecast & Opportunities, 2027”
The global nanomedicine market is expected to grow at an impressive CAGR of 8.28% in the forecast period, 2023-2027, to reach USD242655.19 million by 2027. The market is driven by the factors such as the growing healthcare expenditure and increased demand for personalized medicines. The massive prevalence of chronic and lifestyle disorders such as cancer and cardiovascular diseases across the globe is accelerating the application of nanomedicine in various healthcare applications. Also, the high-end investments in research and development activities by public and private players to find novel solutions for drug delivery and increase the effectiveness of drugs are expected to create lucrative growth opportunities for the global nanomedicine market in the forecast period.
Nanomedicines are considered very effective in treating chronic diseases such as cancer, dementia, and diabetes as they fuel the metabolism of medications in the body.They deliver the drugs at the target site in the right proportion.
The market’s availability of nanomedical products such as DNA probes, nanosensors, and nanoparticle-based imaging agents is increasing the demand. However, the high cost associated with the nanomedicine manufacturing process and research and development activities may hinder the global nanomedicine market in the forecast period.
The global nanomedicine market is divided into nano molecule type, nanoparticles type, application, disease indication, regional distribution, and competitive landscape.Based on application, the nanomedicine market is divided into drug delivery, vaccines, diagnostic imaging, regenerative medicine, and others.
Drug delivery applications dominated the market in 2021 and captured 30.23% of the overall market share. This segment is expected to maintain its dominance over the next five years. The rise in awareness about the benefits of nanomedicine in drug delivery applications and the increased prevalence of diseases drives the demand for nanomedicines for drug delivery applications.
The major market players operating in the global nanomedicine market are Pfizer Inc., Janssen Pharmaceuticals, Sanofi S.A., Amgen Inc., Moderna, Inc., Novo Nordisk A/S, Genentech, Inc., Celgene Corporation, Vifor Pharma Group, Teva Pharmaceutical Industries Ltd., among others.
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Source: Finance.Yahoo