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The healthcare nanotechnology (nanomedicine) market was valued at USD 219,850 million in 2020, and it is expected to reach USD 461,252 million by 2026, registering a CAGR of nearly 11.9% during the forecast period, 2021-2026.
The use of nanotechnology offers new opportunities for the development of novel strategies in terms of prevention, diagnosis, and treatment of COVID-19 and other viral infections. COVID-19 management was done with the development of nano-based materials, such as disinfectants, personal protective equipment, diagnostic systems, and nanocarrier systems, for treatments and vaccine development. According to a research article by Estefania V. R. Campos, et al., published in the Journal of Nanobiotechnology in 2020, gold nanoparticles were functionalized with probes modified with thiol on the surface, which hybridize with the target and prevent the aggregation of the nanoparticles by salts and, consequently, the color change. This solution can be easily adapted for the diagnosis of COVID-19.
The growth of the healthcare nanotechnology (nanomedicine) market is currently being driven by various factors such as the growing prevalence of cancer and genetic and cardiovascular diseases, increasing advancements in nanoscale technologies for diagnostic procedures, and growing preference for personalized medicines.
Nanomedicine helps improve human health and offers solutions for various life-threatening diseases, such as cancer, Parkinson’s disease, Alzheimer’s disease, diabetes, orthopedic diseases, and diseases related to blood, lungs, and the cardiovascular system. According to Alzheimer's Disease International, globally, there were around 50 million people with dementia in 2020. This number is expected to double every 20 years, reaching 82 million in 2030 and 152 million in 2050. Therefore, the high burden of dementia is expected to increase the demand for effective therapeutics based on nanomedicine in the management of the disease, which is expected to drive the market growth.
Moreover, the market players are involved in frequent product launches to enhance their market presence. For instance, in October 2020, Medtronic PLC launched its new Adaptix Interbody System, a navigated titanium spinal implant with the Titan nanoLOCK Surface Technology.
However, stringent regulatory issues and the high cost of nanoparticle-assisted medicine, relative to its traditional counterparts, are hindering the growth of the market.
Scope of the Report
As per the scope of the report, the healthcare nanotechnology (nanomedicine) market includes products that are nanoformulations of the existing drugs or new drugs or nanomaterials. The market is segmented by application (drug delivery, biomaterials, active implants, diagnostic imaging, and tissue regeneration), disease (cardiovascular diseases, oncological diseases, neurological diseases, orthopedic diseases, infectious diseases, and other diseases), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the market size and forecasts in value (USD million) for the above segments.
Key Market Trends
The Neurological Diseases Segment is Expected to Show Better Growth in the Forecast Period
Nanomedicine is a promising mode of cancer treatment. This growing field of medical research can be used to discover better-personalized treatments for a wide range of diseases, including cancer. Globally, the prevalence of cancer is increasing. For instance, according to Globocan, 2020, the global cancer burden increased to 19.3 million cases and 10 million cancer deaths in 2020.
In the field of oncology, nanomedicine offers promising transformations from the existing methods of treatments and diagnosis of cancer. The adoption of nano-based cancer therapies and diagnostics has witnessed noteworthy progress, and numerous new developments are currently in the pipeline.
As per the research article published in the American Chemical Society, a total of 75 cancer nanomedicines were under clinical investigation as of 2019. Among the ongoing and completed clinical trials, 91 (48 completed) are Phase 1, 78 (59 completed) are Phase 2, and 21 (11 completed) are Phase 3. The success rate of Phase 1 trials has been high (approximately 94%).
Moreover, the frequent launches of cancer medicines pertaining to nanomedicine technology are driving the market significantly. In April 2019, Nanobiotix, a clinical-stage nanomedicine company, obtained the CE approval for its Hensify (NBTXR3), an aqueous suspension of crystalline hafnium oxide (HfO2) nanoparticles designed for injection directly into the tumor prior to a patient’s first standard radiotherapy treatment of advanced soft tissue sarcoma.
According to a research article by Ye Zhang et al., published in the Journal of Hematology & Oncology Journal 2019, researchers at the Memorial Sloan Kettering Cancer Center and Cornell University developed silica-hybrid nanoparticles (C-dots) for PET imaging of patients with metastatic melanoma or malignant brain tumors. These nanoparticles, coupled with 124I-labeled cyclo-[Arg-Gly-Asp-Tyr] (cRGDY) peptides, can selectively bind to integrins and can be used to probe tumor cells.
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North America is Expected to Hold the Largest Share of the Market
The major factors attributing to the growth are technological advancements, coupled with relevant applications in early disease diagnosis, preventive intervention, and prophylaxis of chronic and acute disorders, which are expected to bolster the market growth in the United States.
According to the American Heart Association Research Report 2018, one in seven deaths in the United States is due to cardiovascular diseases (CVD). In 2018, coronary heart disease was the leading cause of death attributable to cardiovascular disease in the United States, with 43.8% of the total CVD deaths, followed by stroke (16.8%), heart failure (9.0%), high blood pressure (9.4%), diseases of the arteries (3.1%), and other cardiovascular diseases (17.9%). This may lead to the high demand for specific therapeutic nanovectors, nanostructured stents, and implants for tissue regeneration.
Moreover, several R&D activities are also currently ongoing in the country on drugs and diagnostics based on nanotechnology, which may drive the market growth. For instance, in January 2020, researchers from Stanford University developed a drug coated with nanoparticles that limits the development of atherosclerosis in mice by reducing plaque buildup in their arteries without causing harmful side effects.
Additionally, few of the key market players in the country are developing novel products and technologies to compete with the existing products, while others are acquiring and partnering with other companies trending in the market. In 2020, Nano-X Imaging and SPI Medical entered an agreement for the distribution and introduction of Nanox's novel X-ray systems in Mexico. Nanox ARC uses nanotechnology and semiconductors to replace the cathode ray tubes in traditional machines.
Additionally, during the COVID-19 pandemic, nanomedicine has been found to play a key role in the development of vaccines. Scientists and market players in the region are increasing experimental studies to find suitable and promising therapeutics that may be effective in tackling the highly contagious COVID-19 virus. In October 2020, the Canadian government announced the funding of USD 18.2 million to Precision NanoSystems to develop an RNA vaccine for COVID-19. This investment will support the development of a cost-effective COVID-19 vaccine by using lipid-based drug delivery systems and nanomedicine.
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The major market players are focusing on technological advancements and improvements in drug bioavailability and drug administration. Lucrative growth opportunities due to the COVID-19 pandemic are expected to drive the entry of new players into the market. Some of the major players in the market are Sanofi SA, Pfizer Inc., Celgene Corporation, Luminex Corporation, and Taiwan Liposome Company Ltd. Moreover, several companies are working on launching nanotechnology-based medicines, diagnostic tools, and others. For instance, in August 2020, Promimic’s partner, Innovasis Inc., received the US FDA clearance and launched 3D-printed implants used in spinal fusion surgery. In addition, these implants use Promimic’s HAnano Surface Technology, a bioactive nano treatment for implant device surfaces that leads to increased molecular anchoring of medical implants.
November 2020: BioNtech and Pfizer announced the result of two nanoparticle-based vaccines. In addition, in May 2020, Epidemic Preparedness Innovations (CEPI) announced USD 384 million for the development of Novavax, a nanoparticle-based COVID-19 vaccine.
July 2020: The US- and Kerala-based start-up, LeadInvent, in India, developed a gel using nanoparticles that can kill the remaining cancer cells in patients with brain cancer, especially glioblastoma, after surgery.
Table of Contents
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Prevalence of Cancer and Genetic and Cardiovascular Diseases
4.2.2 Increasing Advancements in Nanoscale Technologies for Diagnostic Procedures
4.2.3 Growing Preference for Personalized Medicines
4.3 Market Restraints
4.3.1 High Costs
4.3.2 Stringent Regulations for Commercial Introduction
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value)
5.1 By Application
5.1.1 Drug Delivery
5.1.3 Active Implants
5.1.4 Diagnostic Imaging
5.1.5 Tissue Regeneration
5.2 By Disease
5.2.1 Cardiovascular Diseases
5.2.2 Oncological Diseases
5.2.3 Neurological Diseases
5.2.4 Orthopedic Diseases
5.2.5 Infectious Diseases
5.2.6 Other Diseases
5.3.1 North America
184.108.40.206 United States (By Application and Disease)
220.127.116.11 Canada (By Application and Disease)
18.104.22.168 Mexico (By Application and Disease)
22.214.171.124 France (By Application and Disease)
126.96.36.199 Germany (By Application and Disease)
188.8.131.52 United Kingdom (By Application and Disease)
184.108.40.206 Italy (By Application and Disease)
220.127.116.11 Spain (By Application and Disease)
18.104.22.168 Rest of Europe (By Application and Disease)
22.214.171.124 China (By Application and Disease)
126.96.36.199 Japan (By Application and Disease)
188.8.131.52 India (By Application and Disease)
184.108.40.206 Australia (By Application and Disease)
220.127.116.11 South Korea (By Application and Disease)
18.104.22.168 Rest of Asia-Pacific (By Application and Disease)
5.3.4 Middle-East and Africa
22.214.171.124 GCC (By Application and Disease)
126.96.36.199 South Africa (By Application and Disease)
188.8.131.52 Rest of Middle-East and Africa (By Application and Disease)
5.3.5 South America
184.108.40.206 Brazil (By Application and Disease)
220.127.116.11 Argentina (By Application and Disease)
18.104.22.168 Rest of South America (By Application and Disease)
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Sanofi SA
6.1.2 Bristol-Myers Squibb Company
6.1.3 CytImmune Sciences Inc.
6.1.4 Johnson & Johnson
6.1.5 Luminex Corporation
6.1.6 Merck & Co. Inc.
6.1.8 Pfizer Inc.
6.1.9 Starpharma Holdings Limited
6.1.10 Taiwan Liposome Company Ltd
6.1.11 Copernicus Therapeutics Inc.
6.1.12 NanoCarrier Co. Ltd
6.1.13 Ensysce Biosciences Inc.
6.1.14 Ocuphire Pharma Inc.
6.1.15 LiPlasome Pharma ApS
6.1.16 Nami Therapeutics Corp.
6.1.17 Nanospectra Biosciences
6.1.18 CytImmune Sciences
6.1.19 Genetic Immunity
6.1.20 Spago Nanomedical AB
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Healthcare Nanotechnology (Nanomedicine) Market market is studied from 2018 - 2026.
What is the growth rate of Global Healthcare Nanotechnology (Nanomedicine) Market?
The Global Healthcare Nanotechnology (Nanomedicine) Market is growing at a CAGR of 11.9% over the next 5 years.
Which region has highest growth rate in Global Healthcare Nanotechnology (Nanomedicine) Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Healthcare Nanotechnology (Nanomedicine) Market?
North America holds highest share in 2020.
Who are the key players in Global Healthcare Nanotechnology (Nanomedicine) Market?
- Sanofi SA
- Pfizer Inc.
- Taiwan Liposome Company Ltd
- Johnson & Johnson
- Bristol-Myers Squibb Company
Are the major companies operating in Global Healthcare Nanotechnology (Nanomedicine) Market.