Vantage Market Research
Nov 12, 2021
According to a new report by Vantage Market Research, the nanotechnology drug delivery market is expected to reach USD 6355 Million by 2028, growing at a CAGR of 4.6% from 2021 to 2028. Nanotechnology drug delivery is a growing area and is witnessing rising acceptance in applications in health care. It is broadly used in applications like anti-infective, neurology, cardiovascular disorders, among others. Thus, further driving the nanotechnology drug delivery market.
- The nanoparticles segment of type segment is projected to grow at a CAGR of over 19.31% over the forecast period owing to the increasing adoption in the end-users.
- The application segment for the nanotechnology drug delivery market is anticipated to be the dominating segment for the market owing to the increasing number of people with cardiovascular disorders, chronic diseases, and other diseases.
- North America is expected to expand at a CAGR of over 12.38% from 2021 to 2028. This surge is attributed to the presence of improved technology, a developed economy, and rising investments from private organizations and the government.
Some of the key players in the Nanotechnology Drug Delivery Market include Nanobiotix, NanoCarrier Corporation ltd, Tarveda Therapeutics, Aquanova AG, AbbVie, Inc., Amgen, Inc., Celgene Corporation, Johnson & Johnson, Merck & Co., Inc., and Novartis International AG, Bayer AG, Pfizer, Roche., among others.
The nanotechnology drug delivery market growth is attributed owing to factors such as rising acceptance in applications in health care, increasing incidence of chronic diseases, rising awareness amongst the people concerning nanotechnology, increase in government initiatives, increasing technological advancements, increasing demand for novel drug delivery, and rising investment in nanotechnology. Also, owing to the rise in R&D activities to develop novel Nano-medicine in nanotechnology, the nanotechnology drug delivery market is observing swift growth. Moreover, the investment from the government and several private organizations is increasing which is further propelling the growth of the market. Furthermore, with the rising population around the world, the number of people suffering from chronic diseases, cardiovascular disorders, among other diseases are also increasing, further making the large pool of patients. Thus, owing to the rise in untapped demand, the nanotechnology drug delivery market is anticipated to grow over the forecast period. However, Strict regulations scenario and huge improvement costs of medicines are expected to hamper Nanotechnology Drug Delivery growth.
The North American region is expected to hold the largest share and have the fastest CAGR for the nanotechnology drug delivery market over the forecast period. The U.S. is anticipated to hold the largest share in the North American region owing to the presence of improved technologies, along with the larger pool of population suffering from chronic diseases, cardiovascular disorders.