PUBLISHER: Market Research Future | PRODUCT CODE: 1607745
PUBLISHER: Market Research Future | PRODUCT CODE: 1607745
Global Nanomedicine Market Research Report: Information by Modality (Treatments and Diagnostics), by Application (Drug Delivery, Diagnostic Imaging, Vaccines, Regenerative Medicine, and Implants), and by Indication (Oncological Diseases, Infectious Diseases, Cardiovascular Diseases, Orthopedic Diseases, Neurological Diseases, Urological Diseases, Ophthalmological Diseases, Immunological Diseases, and Others), by Molecule Type (Nanoparticles [Albumin Particles, Inorganic Nanoparticles, Lipid Nanoparticle, Liposomes, and Others], Nanoshells, Nanotubes, and Nanodevices), and by Region (North America, Europe, Asia-Pacific, and Rest of the World) Forecast till 2032
In 2023, the nanomedicine market was estimated at USD 252.97 billion. The Nanomedicine Market is expected to expand from USD 273.79 billion in 2024 to USD 819.84 billion by 2032, with a compound yearly growth rate (CAGR) of 12.48% over the forecast period (2024-2032).
The global market is being driven by increasing occurrences of various ailments around the world, as well as agreements related to nanomedicine product development.
Market Segment insights
The Nanomedicine Market is divided into two segments: treatments and diagnostics.
The Nanomedicine Market is divided into five applications: drug delivery, diagnostic imaging, vaccinations, regenerative medicine, and implants.
The Nanomedicine Market has been classified by indication: oncological illnesses, infectious diseases, cardiovascular diseases, orthopedic disorders, neurological diseases, urological diseases, ophthalmological diseases, immunological diseases, and others.
The Nanomedicine Market is divided into four segments based on molecule type: nanoparticles, nanoshells, nanotubes, and nanodevices.
Regional insights
The market is segmented into four regions: North America, Europe, Asia-Pacific, and the rest of the world. North America held the biggest market share of more than 38.14% in 2023, owing to the rising prevalence of cancer cases and a strong research and development infrastructure. For example, in 2020, the United States reported 1,603,844 new cancer cases and 602,347 cancer deaths. There were 403 new cancer cases reported per 100,000 people, with 144 people dying from cancer.
The market for nanomedicine in Europe is rapidly developing as a result of advances in nanotechnology and its potential to improve healthcare. This market covers the development and application of nanoscale materials and technologies for monitoring, therapy, and diagnostics. The market is developing as a result of increased demand for tailored therapy and the rising prevalence of chronic diseases. Europe is at the forefront of nanomedicine breakthroughs, thanks to its high R&D spending and excellent healthcare infrastructure. Targeted drug delivery systems, better cancer therapies, and nanoscale imaging tools are key areas of focus.
The Asia-Pacific nanomedicine industry is rapidly developing, reflecting the region's increased interest and investment in cutting-edge healthcare technology. The market is predicted to grow fast due to several factors, including increased healthcare demand, rising chronic illness prevalence, and significant advances in nanotechnology research.
Sanofi (France), Johnson & Johnson Services, Inc. (US), Parvus Therapeutics Inc. (US), Nanobiotix (France), Ascendia Pharmaceuticals (US), Bristol-Myers Squibb Company (US), Jazz Pharmaceuticals (Ireland), Cytimmune Sciences, Inc. (US), Nanospectra Biosciences (US), and Pfizer, Inc. (US) are among the key companies in the nanomedicine market.