Global Nanotechnology in Drug Delivery Market is expected to reach the market valuation of US$ 182.3 billion by 2027 expanding at a reasonable CAGR of 19.9% during the forecast period (2021-2027) from US$ 44 billion in 2019. Nanotechnology is utilized in targeted drug delivery at the site of disease to expand the uptake of poorly soluble drugs, the targeting of drugs to a precise site, and drug bioavailability.
The various factors driving the Nanotechnology in Drug Delivery market include the increasing necessity for alternative approaches to conventional chemotherapy generates prospects for nanoparticles, the need for developing new and improved drug and gene delivery methods, and increasing prevalence of chronic diseases and illnesses like cancer and cardiovascular diseases. However, the transition from microparticles to nanoparticles leading to problems like interarticular friction and research and development of nanomaterials for drug delivery in large scale production is expected to hinder the growth of the Nanotechnology in Drug Delivery market.
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Amid the COVID-19 pandemic, the nanotechnology tools gave great utility across numerous routes ranging from viral neutralization and identification to vaccine production and treatment. While considering that SARS-CoV-2 has nanometric dimensions with a core-shell nanostructure, nanotechnology comes into play and could therefore be considered as an afunctional nanomaterial. Nanocarriers also have the potential to design risk-free and effective immunization strategies for SARS-CoV-2 vaccine candidates such as protein constructs and nucleic acids. A study performed by Leuschner et al. brings a direction in the use of nanotechnology to control the cytokine storm which is amongst few clinical complications of COVID-19.
Based on technology, the market is fragmented into nanoparticles, liposomes, nanocrystals, micelles, and others. The nanoparticles segment dominated the market in 2019 and generated total revenue of US$ 12 billion. It is anticipated to maintain its dominance during the forecast period owing to the easily modified and functionalized surface of nanoparticles which increases the specificity of therapeutic agents in the targeted tissue. However, the micelles segment is expected to witness the highest CAGR growth during the forecast period.
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Nanotechnology in Drug Delivery holds potential in various applications including oncology, cardiovascular/physiology, anti-inflammatory/ immunology, neurology, anti-infective, and others. The oncology segment dominated the market and generated revenue of US$ 15.9 billion in 2019 owing to the increasing number of cancer cases. In 2018, Cancer was amongst the top leading cause of death worldwide, with an estimated 9.6 million deaths, or 1 in 6 deaths.
Additionally, the report provides detailed initiatives that are being taken in the field of Nanotechnology in Drug Delivery. The market is classified into distinct regions North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, Australia, South Korea, India, and Rest of APAC), Rest of World has been conducted. North America dominated the market and generated revenue of US$ 18.9 billion in 2019 owing to the increasing prevalence rate of cancer, presence of high disposable income, and rise in funding for R&D activities associated with Nanotechnology in Drug Delivery. Cancer is the leading cause of death in Canada and the second-leading cause, after heart disease, in the USA. Nearly 1.9 million new cancer cases and 693,000 cancer deaths were estimated in North America in 2018.
Cameras AB, Nanobiotix, NanoCarrier Co., Ltd., Selecta Biosciences, Starpharma Holdings Limited, Taiwan Liposome Co., Pfizer, Novartis, Merck & Co., and Bayer are some of the prominent players operating in the global Nanotechnology in Drug Delivery market. Several M&A’s along with partnerships have been undertaken by these players to develop Nanotechnology in Drug Delivery.
Global Nanotechnology in Drug Delivery Market Segmentation
Market Insight, by Technology
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