By Will Soutter
Research and Markets has included a new report titled ‘Nanotechnology for Drug Delivery: Global Market for Nanocrystals’ to its database.
The report predicts that the total market size for nanotechnology-enabled drug delivery is expected to reach $136 billion by 2021, of which nanocrystals will represent a 60% share and nanocarriers will account for a 40% share.
Since majority of the biological processes take place at the nanoscale, the use of bottom-up approach is ever-increasing in medical and biomedical research. The healthcare market is witnessing a paradigm shift. Now, the focus is on the development of more personalized medicines depends on a person’s immune response and genome. More research on identifying the molecular reasons for diseases will lead to the development of more number of high-efficient targeted nanotechnology-enabled drug delivery therapies.
Cientifica’s latest research reported that the market for nanocrystal-based medicines experienced higher growth in the past ten years than other nanotechnology-enabled drug delivery systems, thanks to the smaller investments and shorter development times required to synthesize nanocrystals. The report discusses latest advancements and future opportunities in nanocrystal therapies.
According to Tim Harper, Chief Executive Officer at Cientifica, the low bioavailability of conventional oral drug delivery techniques and the need to develop unique drug delivery systems to extend patents are the driving factors of the market for nanotech enabled drug delivery systems.
The National Science Foundation predicts that the global nanotech-enabled market is expected to reach a value of $1 trillion in 2015. As per the prediction made by the National Nanotechnology Initiative, the market will achieve a value of $3 trillion in 2020. Hence, the share of drug nanocrsytals in the worldwide market for nanotechnology will be roughly 2.5% in 2015 and 3.5% in 2021.