Reportlinker.com announces that a new market research report is available in its catalogue: Nanotechnology in Health Care.
US demand to rise more than 17% annually thru 2014
US demand for nanotechnology medical products will rise more than 17 percent per year to $75.1 billion in 2014. Going forward, the increasing flow of new nanomedicines, nanodiagnostics, and nanotech- based medical supplies and devices into the US marketplace will boost demand to $149 billion in 2019.
Nanomedicine market to reach $59 billion in 2014
The total market for nanomedicines will command strong growth over the long term, rising to almost $59 billion in 2014 and sustaining a strong upward pace through 2019. Treatments based on humanized monoclonal antibodies, nanopolymers and nanoproteins will drive gains, with compounds for cancer, heart diseases, neurological disorders and viral infections leading new product introductions and growth opportunities. Eventually, nanomedicines will extend into all major therapeutic classes, encompassing numerous formulations and delivery systems.
Nanodiagnostic products to grow nearly 7% annually
Among nanodiagnostic products, nanosized monoclonal antibody labels and DNA probes are greatly enhancing the speed, accuracy, capabilities and cost-effectiveness of in vitro diagnostic testing, drug discovery and medical research procedures. Nanoparticle formulations of superparamagnetic iron oxide, gadolinium, perfluorocarbon and specialty polymers will broaden in vivo imaging capabilities by enabling the detection of tumors, plaque, genetic defects and other disease states at much earlier stages and with lower, safer concentrations of injected compounds. Reflecting anticipated performance advantages over existing products and an expanding range of new commercial offerings, demand for nanodiagnostics is projected to increase 6.8 percent per year to $11.3 billion in 2014, and continue rising at a good pace through 2019.
Nanotech supplies, devices to reach $5.1 billion in 2014
Within the medical supplies and devices segment, nanomaterials are already gaining significant demand as active ingredients of burn dressings, bone substitutes, and dental repair and restoration products. In the long term, advances in nanotechnology will lead to the introduction of new, improved medical supply and device coatings as well as a new, diverse group of medical implants. In 2014, demand for medical supplies and devices based at least partially on nanomaterials is projected to reach $5.1 billion, up from $530 million in 2009. This amount will more than triple by 2019 as nanotechnology-based orthopedic and cardiac implants and nanocoated medical and surgical instruments penetrate the marketplace.
Cancer among first disorders treated by nanotechnology
The greatest near-term impact of nanotechnology in health care by indication will be in therapies and diagnostics for cancer and central nervous system disorders. Gradually, many other major diseases, as well as injuries, will be treated and detected routinely by products based on nanosized ingredients. The nanotechnology segment of the medical product industry is divided among large multinational drug and medical supply companies, and research-oriented firms that develop commercial products or nanomaterials.
This new industry study presents historical demand data plus forecasts for 2014 and 2019 by product type and application. The study also considers recent health insurance reforms and overall drug and medical device regulatory trends, evaluates company market share and profiles participants in the US industry.