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Nano Therapy Market Research Report: By Technology (Nanomaterial And Biological Device, Nano Electronic Biosensor, Molecular Nanotechnology, Implantable Cardioverter-Defibrillators), By Application (Cardiovascular Disease, Cancer Therapy, Diabetes Treatment, Rheumatoid Arthritis), By End User (Hospitals, Clinics And Research Institutions) - Global Forecast Till 2023
Global Nano Therapy Market Research is estimated to expand at an 8.2% CAGR during the forecast period. The market is flourishing, with around 250 nano-medical products being tested or used for humans. Nano therapy is significantly used in the treatment of diseases such as diabetes, cancer, and cardiovascular diseases. One of the major market drivers for nano therapy includes the increasing prevalence of cancer and other metabolic diseases. A recent study by the Journal of Diabetes and Metabolic diseases has stated that the prevalence of MS ranged from 30.5 to 31.5% in China and 35.8 to 45.3% in India.
Nanotechnology holds the potential to enhance the drug solubility, stability, half-lives in plasma, and the efficiency of treatments. Nano therapy refers to modern technology for several diseases which are performed with the help of submicron-sized molecular devices or nanoparticles. Nanotechnology is categorized as submicron estimated atomic gadgets or nanoparticles prevalently running from 5 to 500 nm in one dimension. Generous past exploration exertion has led to the innovation of techniques to fuse helpful operators into biocampitable nano devices including polymer nanoparticles, micelle frameworks, liposomes, inorganic nanoparticles, nanotubes, and dendrites.
Further, continuous development in technology, a surge in demand for better treatment, government support for the research and development, and the increasing healthcare expenditure has fuelled the growth of the nano therapy market. However, a lack of regulatory standards in the examination of nano therapy and a high cost of treatment are some of the significant factors posing as hindrances in the ascension of the nano therapy market through the forecast period.
Nano Therapy Market Key Players
Some of the impressive market vendors in the global nano therapy market include Smith and Nephew (UK), Selecta Biosciences, Inc. (US), Sirnaomics, Inc. (US), Tarveda Therapeutics (US), DIM (US), Cristal Therapeutics (the Netherland), CytImmune Science, Inc. (US), Luna (US), NanoBio Corporation (US), NanoBioMagnetics.n.nu (US), Nanobiotix (France), Nanoprobes, Inc. (US), Parvus Therapeutics (US), Nanospectra Biosciences, Inc (US), Nanosphere Inc. (US), NanoMedia Solutions Inc. (Japan).
Nano Therapy Market Segmentation
The global nano therapy market is segmented on the basis of technologies, applications, end-users, and region. On the basis of technologies, the global nano therapy market is segmented into Nanoelectronic biosensors, implantable cardioverter-defibrillators, nanomaterial and biological devices, and molecular nanotechnology. Based on application, the global nano therapy market is segmented into cancer therapy, cardiovascular disease, diabetes treatment, and rheumatoid arthritis. On the basis of end-users, the global nano therapy market is segmented into clinics, hospitals, and research institutions.
Nano Therapy Market Detailed Regional Analysis
The global nano therapy market is regionally segmented into the Americas, Europe, Asia Pacific, and the Middle East & Africa. The Americas are estimated to spearhead the global nano therapy market owing to the large diabetic population in the region. Conferring to the National Diabetes Statistics report 2017, around 30.3 million people ranging in all ages had diabetes, i.e., 9.4% of the total US population suffered from diabetes in 2017. Further, the accessibility of technology, rising healthcare expenditure, and the government support for the research and development are some of the factors promoting growth in the region.
Europe is expected to follow the Americas and garner the second largest market share for nano therapy during the assessment period. Europe is majorly driven by the awareness and advancement in the nanotechnology sector. Asia Pacific is estimated to ascend at the fastest rate during the review period. This can be attributed to the increasing demand for better treatment options, rising initiatives to include IT in the healthcare sector. Alternatively, the Middle East & Africa is projected to develop at the lowest rate owing to the lack of advancement in technology, poor infrastructure level in the region.