March 03, 2022 04:40 ET | Source: ReportLinker ReportLinker
New York, March 03, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Nanomedicine Global Market Report 2022” – https://www.reportlinker.com/p06241915/?utm_source=GNW
The global nanomedicine market is expected to grow from $221.12 billion in 2021 to $252.50 billion in 2022 at a compound annual growth rate (CAGR) of 14.2%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $414.97 billion in 2026 at a CAGR of 13.2%.
The nanomedicine market consists of sales of nanotechnology-based applications in medicines by entities (organizations, sole-trader, and partnerships) that are engaged in utilizing nanomaterials for the enhanced diagnosis and treatment of various health issues.Nanomedicine is a branch of medicine that applies nanotechnology knowledge and tools for the prevention and treatment of disease.
They are nanoscale materials that are used in diagnosis and treatment procedures in oncology, cardiology, infectious diseases, orthopedics, and other medical areas.
Nanomedicine is an important instrument that enables personalized, targeted, and regenerative medicine by delivering improved new drugs, treatments, and implantable devices to clinicians and patients.
The main types of nanomedicine are nanoparticles, nanoshells, nanotubes, nanodevices, and others.Nanoparticles are a type of ultrafine particles usually between 1 and 100 nanometers in diameter used in making medicine and drugs.
The different forms of modality include diagnostics, treatments and are used in clinical oncology, infectious diseases, clinical cardiology, orthopedics, others.
North America was the largest region in the nanomedicine market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rising burden of complex and chronic diseases across the globe is expected to contribute to the growth of the nanomedicine market in the forecast period.Nanomedicine is increasingly being used in treating chronic diseases including cardiovascular disorders, diabetes, cancer, dementia, and others where it helps in the fast metabolism of drugs in the body.
According to the international federation of Alzheimer’s associations, Alzheimer’s Disease International, more than 50 million people are suffering from dementia globally, and is projected to double every 20 years, which will reach 80 million by 2030 and 152 million by 2050. In 2020, the total cancer burden in the world increased to 19.3 million new cases and is predicted to rise to 28.4 million new cancer cases in 2040. This increasing burden of chronic diseases is expected to propel the demand for effective therapeutics treatment based on nanomedicine, thus driving the market.
The 4D Nanomedicine is a key trend gaining popularity in the nanomedicine market. 4D nanomedicine is used in medical procedures for safer treatment with nanoparticles. 4D nanomedicine is made with biodegradable and biocompatible nanoalloys that do not accumulate in the body, thus, limiting the side effects. The 4D nanomedicine is accepted as a fundamental development in the treatment and diagnosis of cancer. For instance, in 2020, a research team from the Department of Chemical Sciences, University of Padua investigated and confirmed the effectiveness of inorganic 4D nanoparticles in the biomedical field. 4D nanomedicine offers several advantages to the biomedical field including reduced side effects in a living organism, minimal environmental impact, improved quality of care, and spontaneous effect.
In November 2019, Bristol-Myers Squibb (BMS), a US-based pharmaceutical company completed the acquisition of Celgene for $74 billion.Under this acquisition, Celgene will be a wholly-owned subsidiary of BMS and Bristol-Myers Squibb plans to expand its range of innovative medicines.
Celgene is a US-based biopharmaceutical company that focuses on improving the lives of patients through innovative therapies using nanomedicine and nanotechnology.
The countries covered in the nanomedicine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06241915/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.