The nanomedicine refers to highly-specific medical intervention at the molecular scale for treating the diseases or restructuring the damaged tissues as it is an offshoot of nanotechnology. Moreover, the nanomedicine utilizes nano-sized tools for the diagnosis, prevention and treatment of disease, and to gain increased understanding of the complex underlying pathophysiology of the disease. It includes three nanotechnology areas of diagnosis, imaging agents and the drug delivery with the nanoparticles in the 1-1,000nm range, polymer therapeutics and biochips. Furthermore, nanomedicines are structured to maximize the benefit/risk ratio, and their toxicity must be calculated not only by sufficiently long term in vitro and in vivo studies, but also pass multiple clinical studies. The key players of this market are making the huge investment in the related research and development programs for dominating the huge market share across the globe which further proved to be profitable for leading the fastest market growth during the forecasted period.
According to the report analysis, ‘Global Nanomedicine Market – Drivers, Opportunities, Trends And Forecasts: 2017-2023‘ it states that there are several key players which are recently functioning in this market more significantly by adopting the profitable strategies and policies for leading the highest market share includes Merck & Co. Inc, Hoffmann-La Roche Ltd, Gilead Sciences, Novartis AG, Amgen Inc, Pfizer Inc, Eli Lilly and Company, Sanofi, Nanobiotix SA, UCB SA and several others. Additionally, the key players of this market are studying and analyzing the key strength of the competitors and guidelines of the respective government for working across the globe more smoothly which beneficial for attaining the highest market growth during the forecasted period.
The popular of nanomedicines utilized now for enable oral drug delivery and its requirement is increasing significantly. Although these nano-vectors are structured to translocate among the gastrointestinal tract, lung, and blood-brain barrier, the potential of drug transferred to the organ is lower than 1%, therefore developments are challenging. For instance, The Global Nanomedicine Market is expected to observe an effective CAGR of 17.1% during the forecast period of 2017-2023.
Although, in 2016, the Oncology sector is the main therapeutic area for nanomedicine application, which encompassed more than 35% of the total market share. A main objective in this sector is anticipated to drive the growth of the nanomedicine market in the future. Additionally, with all this the market of nanomedicines is spread across the globe which majorly includes Americas, Europe, Asia Pacific, and Rest of the World (ROW). However, the Americas are set to be the prominent region for the nanomedicine market growth followed by Europe. Furthermore, the Asia Pacific region and ROW are set to be the most developing regions. Japan is set to be the most attractive destination and in Africa, the popularity and the usage of numerous nano-drugs are anticipated to rise during the forecasted period. Therefore, in the near future it is anticipated that the global market of nanomedicine will increase more significantly over the recent few years.
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Ankur Gupta, Head Marketing & Communications