Healthcare nanotechnology has immense potential for improving the diagnosis & monitoring of diseases, delivery of drugs, implants, and regenerative medicines. It could revolutionize medical research & developments. Nanotechnology enables manipulation in the properties & structures of cell components, viruses, and DNA. It does the same with the help of small robots, tools, and tubes. This positively impacts the treatment of cancers, Alzheimer’s disease, multiple sclerosis, diabetes, and other chronic ailments.
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The healthcare nanotechnology market is estimated to grow at a CAGR of 12% from 2014 to 2020 (forecast period). It should be valued around USD 195 billion by 2020. Global cardiovascular, infectious, musculoskeletal, neurodegenerative, and other grave illnesses would also fuel demand.
Research & developments in medical nanotechnology, funded by private organizations & governments, have risen. This furthers market avenues. The market has multiple pharmaceutical vendors, players, and devices. Emerging countries like India, China, and Russia make huge investments in this field.
Although the healthcare nanotechnology market has exciting prospects in the years ahead, it is challenged by certain factors. Nanotechnology features such as higher reactivity and ‘cell membranes’ crossing can adversely affect it. Moreover, advanced medical technologies may raise ethical concerns and alter social relations between doctors & patients.
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The market is categorized into applications and regions. Application segments refer to clinical oncology, clinical cardiology, clinical neurology, drug delivery systems, molecular diagnostics, and anti-inflammatory & anti-infective.
Clinical oncology, with 34% of the overall revenues, was the leader in 2013. Clinical cardiology would be the fastest-growing application over the next six years. Cardiovascular prevalence and untapped regions propel this segment.
Regions of the healthcare nanotechnology market consist of Europe, Asia Pacific, North America, and Rest of the World (RoW). North America accounted for the maximum demand and held 39% shares in 2013. Regional extensive cancer research and high-tech medical systems boost its demand. Asia Pacific can expand at the highest CAGR (14.1%) from 2014 to 2020. It will be buoyed by healthcare investments in India and China.
The region may also be driven by research & development activities in the two nations. Leading participants of the worldwide healthcare nanotechnology market encompass Sigma-Tau Pharmaceuticals Inc., Pfizer Inc., Nanosphere Inc., and UCB S.A.
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