PORTLAND, Oregon and PUNE, India, November 2, 2017 /PRNewswire/ --
According toa new report published by Allied Market Research, titled, "Nanomedicine Market by Modality, Application, and Indication: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global nanomedicine market
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Nanomedicine is an application of nanotechnology that deals in the prevention & treatment of diseases in humans. This technology uses submicrometer-sized particles for diagnosis, treatment, and prevention of diseases. Nanomedicines are advantageous over generic drugs in several aspects such as, to reduce renal excretion, improve the ability of drugs to accumulate at pathological sites, and enhance the therapeutic index of drugs. Thus, nanomedicine is used in a wide range of applications that include aerospace materials, cosmetics, and medicine.
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The global market is driven by increase in the development of nanotechnology-based drugs, advantages of nanomedicine in various healthcare applications, and growth in need of therapies with fewer side effects. However, long approval process and risks associated with nanomedicine (environmental impacts) restrain the market growth. In addition, growth of healthcare facilities in emerging economies is anticipated to provide numerous opportunities for the market growth.
The vaccines segment is expected to register a significant CAGR of 13.2% throughout the forecast period. The treatment segment accounted for about fourth-sevenths share in the global market in 2016, accounting for the highest share during the forecast period. This is due to the high demand for therapeutics among patient and rise in the incidence of chronic diseases.
The neurological diseases segment is expected to grow at the highest CAGR of 13.9% during the forecast period, owing to high demand for brain monitoring & treatment devices and drugs. The oncological diseases segment accounted for the highest revenue in 2016, with one-third share of the global market, and is expected to maintain its dominance throughout the forecast period.
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KEY FINDINGS OF THE STUDY
In 2016, Asia-Pacific and LAMEA collectively accounted for about one-fourth share of the global market, and is expected to continue this trend due to increased adoption of nanomedicines, especially in China, India, and the other developing economies. In addition, rise in investments by key players in the field of nanomedicines is key driving factor of the Asia-Pacific market.
The key players operating in the global nanomedicine market are Abbott Laboratories, CombiMatrix Corporation, General Electric Company, Sigma-Tau Pharmaceuticals, Inc., Johnson & Johnson, Mallinckrodt plc, Merck & Company, Inc., Nanosphere, Inc., Pfizer, Inc., and Teva Pharmaceutical Industries Ltd. The other prominent players in the value chain include Celgene Corporation, UCB (Union Chimique Belge) S.A., AMAG Pharmaceuticals, Nanospectra Biosciences, Inc., Arrowhead Pharmaceuticals, Inc., Leadiant Biosciences, Inc., Epeius Biotechnologies Corporation, Gilead, and Cytimmune Sciences, Inc.
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Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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SOURCE Allied Market Research
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