The Global Nanopharmaceuticals Market size was valued at USD 29.4 Billion in 2018, and it is anticipated to grow at a CAGR of 20.3% over the forecast period. Nanopharmaceuticals are composed of active molecules or biological substances prepared specifically to enhance drug therapy by attenuating safety risks and toxicity profiles, or in vivo imaging.
Nanopharmaceuticals are mainly particles in the 10 to 1,000-nanometer range of particular matter used for the manufacture of medicines. The medicines have many advantages over conventional medicines, mainly due to their composition and form.
By leveraging nanomedicine to make healthcare efficient, especially in developing countries, nanopharmaceuticals are revolutionizing medical science. The technology is still in the evolutionary stage but holds tremendous potential to bring about significant developments not only in therapeutics but also in disease and target detection. Apart from this, its cost-effectiveness is adding to its popularity in the healthcare sector.
Nanopharmaceuticals are expected to play a crucial role in the treatment of complex disorders in the future. They can facilitate the easy detection of diseases in the early stage and thereby, ensure timely medical intervention. Nanopharmaceuticals can also be effectively implemented in the drug delivery systems, which in turn, will provide a major boost to the drug market.
An increasing occurrence of chronic diseases, such as infectious diseases, cancer, and cardiovascular diseases, is increasing the demand for nano-pharmaceuticals and is thus, boosting the global nanopharmaceuticals market. Often, nanopharmaceuticals are referred to as pharmaceuticals based on nanotechnology. Progress in nanotechnology and nanopharmaceuticals is becoming an important component of medical research. This is mainly because nanopharmaceuticals has the ability to cure diseases at the cellular level.
Global Nanopharmaceuticals Market, By Carrier Type
Based on the carrier type, the market has been segmented into liposomes, polymer, nanocrystals, inorganic, protein, and others. It is anticipated that the liposomes segment will dominate the market in 2018 and will continue to do so during the forecast period as well.
Global Nanopharmaceuticals Market, By Application
Based on application, the market has been segmented into neurology, oncology, anti-inflammatory, cardiovascular, anti-infective, and others. The oncology segment dominated the market in 2018 and is expected to register significant growth in the forecast period. The growth of this segment can be mainly attributed to the increasing incidence of cancer across the globe and growing awareness about cancer treatment.
Global Nanopharmaceuticals Market, By End-user
Based on end-users, the global nanopharmaceutical market has been segmented into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment led the market in 2018, owing to increasing investment from the pharmaceutical and government authorities to meet the demand from the consumers. In the forecast period also, this segment is expected to hold a major market share.
Global Nanopharmaceuticals Market, By Regions
In 2018, North America had the largest market share in the global market for nanopharmaceuticals. This region is expected to maintain its dominance over the forecast period as well. An increase in government spending on R&D activities to boost the adoption of nanotechnology and the rising incidence of chronic diseases are expected to contribute towards market growth in the region. However, in the forecast period, the Asia Pacific region is projected to register the highest growth rate due to an increase in awareness about medical care and nanopharmaceuticals in the region.
Key Developments in the Global Nanopharmaceuticals Market
Some Key Findings of the Global Nanopharmaceuticals Market Report Include:
By Carrier Type
Detailed scope covering all the major segments in the market
In line data validations to ensure data precision
Market recommendations supporting decision making processes
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