Transparency Market Research (TMR) has recently published a market study based on the global nanomedicine market, estimating the market to grow at a healthy CAGR of 12.3% during the period from 2013 to 2019 in order to reach US$177.60 billion by 2019.The study, titled "Nanomedicine Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019", reports that the global nanomedicine market stood at US$78.54 billion in 2012.
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According to the report, technological advancement in the field of nanomedicine is the primary growth driver of the global nanomedicine market. Apart from this, rising support from various governments in terms of funds and increasing collaborations between enterprises for research and development in nanomedicine is also expected to boost growth of this market. On the other hand, the lack of a well-organized regulatory framework and the high costs associated with these drugs and devices are suppressing the nanomedicine market's growth.In the report, the analysis of the global nanomedicine market is carried out on the basis of the application areas of nanomedicines, such as neurology, oncology, cardiovascular diseases, anti-inflammatory diseases, anti-infectives, and others. The market for oncology led the global nanomedicine market, capturing a 38.0% share of the overall industry in 2012. The huge amount of commercialized nanomedicine products utilized in the field of oncology has propelled the market to a significant extent.
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Analysts at TMR estimate the market for oncology to lead the global nanomedicine market during the forecast period, but the fastest growth is expected from application in cardiovascular diseases. The presence of a significant patient population and increasing demand for nanomedicine-based devices and drugs are likely to fuel market growth.The report studies the regional markets for nanomedicine in detail and concludes that North America, the market leader in 2012, is expected to maintain its leading position during the forecast period. The factor responsible for the dominance of this regional market is the presence of advanced healthcare infrastructure, which supports the development of nanomedicines. However, the market in Asia Pacific is showing exceptional potential and is projected to register the fastest growth at a 14.6% CAGR between 2013 and 2019.
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The prevalence of diseases, coupled with rising awareness regarding healthcare, is driving the nanomedicine market in Asia Pacific. The rise in nanomedicine research funding and numerous research collaborations in developing economies such as India, China, and other Asian nations are also helping the region stand out in the global nanomedicines market. The markets in Europe and the Rest of the World are also anticipated to report healthy growth during the forecast period.
Other Reports by Transparency Market Research:
Abbott Laboratories, CombiMatrix Corp, Mallinckrodt plc, Celgene Corporation, Johnson & Johnson, GE Healthcare, Merck & Co. Inc., Pfizer Inc., Nanosphere, Inc., Sigma-Tau Pharmaceuticals Inc., UCB SA, and Teva Pharmaceutical Industries Ltd. are some of the major players in the global nanomedicine market profiled in this research report.
The global nanomedicine market is categorized into the following segments:
Nanomedicine Market by Application
Nanomedicine Market by Geography
- North America
- Rest of the World (RoW)
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