Nanotechnology provides superior drug delivery systems for better control and treatment of diseases by manipulating the properties of materials such as polymers and creating nanostructures. There are various advantages to the nanostructures employed as drug delivery systems that make them advanced to conventional delivery systems. Nanoparticles have emerged as key players in modern medicine in recent years, with applications ranging from contrast agents in medical imaging to gene delivery carriers in individual cells. Researchers are working on the utilization of nanoparticles to make drugs even more effective by having an in-depth understanding of the interaction of nanoparticles with cells, and the optimal toxicity or concentration. In this sector, healthcare R&D is seeing increased expenditure on nanosized materials and devices.
A developing number of nanotherapeutic drugs have been commercialized or reached the clinical stage in recent years. Compared to traditional drugs, enhanced pharmacokinetics, biocompatibility, tumor targeting, and stability are associated with NP-based drug delivery systems, while simultaneously playing an important role in minimizing systemic toxicity and overcoming drug resistance. For oncology applications, over 20% of the therapeutic nanoparticles already in clinics or under clinical evaluation have been created. Most FDA-approved therapeutic nanoparticles are currently being designed for the re-formulation of combinations of chemotherapeutic drugs with polymeric nanoparticles. According to the WHO, CVDs kill 17.9 million people per year, an estimated 31% of all deaths worldwide. For the treatment of cardiovascular diseases, the use of nanoparticle-based formulations is primarily focused on targeted delivery and increasing bioavailability for vascular restenosis. Up to 23.5 million Americans (more than 7% of the population) suffer from an autoimmune disease, according to the National Institutes of Health, and the numbers are increasing. The rising prevalence of cancer and chronic diseases remain among the primary influences driving this surge.
Camarus AB, Nanobiotix, NanoCarrier Co., Ltd., Selecta Biosciences, Starpharma Holdings Limited, Taiwan Liposome Co., Pfizer, Novartis, Merck & Co., and Bayer are some of the prominent players operating in the global Nanotechnology in Drug Delivery market. Several M&A’s along with partnerships have been undertaken by these players to facilitate costumers with hi-tech and innovative products.
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Insights Presented in the Report
“Amongst technology, nanoparticles segment holds the major share”
Based on the technology type, the market is fragmented into nanoparticles, liposomes, nanocrystals, micelles, and others. The nanoparticles segment dominated the market with a share of 27.2% in 2022 and is expected to maintain its dominance during the forecast period owing to the better biocompatibility, non-immunogenicity, non-toxicity, and biodegradability compared to conventional approaches.
“Amongst application, oncology is anticipated to dominate the market during the analyzed period”
Further based on application, the market is mainly bifurcated into oncology, cardiovascular/physiology, anti-inflammatory/ immunology, neurology, anti-infective, and others. In 2019, oncology accounted for a maximum market revenue share of 36% and is expected to remain dominant during the analyzed period owing to the increasing development of nano-drug delivery in the oncology due to the advantages of nanoparticle (NP)-based drug delivery systems in cancer treatment, such as good pharmacokinetics, precise targeting of tumor cells, reduction of side effects, and drug resistance. However, the anti-inflammatory/ immunology segment is anticipated to grow at the highest CAGR over the forecast period.
“North America signifies one of the largest markets of Nanotechnology in Drug Delivery Market”
For a better understanding of the market dynamics of the Nanotechnology in Drug Delivery market, a detailed analysis was conducted for different regions across the globe including North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, Australia, South Korea, India, and Rest of APAC), Rest of World has been conducted. North America dominated the market and generated revenue of US$ 18.9 billion in 2022 owing to the increasing prevalence rate of cancer, presence of high disposable income, and rise in funding for R&D activities associated with Nanotechnology in Drug Delivery. For instance, Cancer is the leading cause of death in Canada and the second-leading cause, after heart disease, in the USA. Nearly 1.9 million new cancer cases and 693,000 cancer deaths were estimated in North America in 2031.
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