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According to a new report published by Allied Market Research, titled, "Nanotechnology Drug Delivery Market," The nanotechnology drug delivery market was valued at $87.5 billion in 2022, and is estimated to reach $209.5 billion by 2032, growing at a CAGR of 9.1% from 2023 to 2032. Nanotechnology has revolutionized the field of drug delivery by offering innovative solutions to overcome challenges in targeted therapy, enhanced drug efficacy, and improved patient outcomes. The nanotechnology-based drug delivery market has witnessed significant growth and holds immense potential for the future of medicine. Nanoparticles, nano emulsions, and nanocarriers are some of the key components of nanotechnology used in drug delivery systems. These nanoscale structures possess unique physicochemical properties, such as a high surface area-to-volume ratio and the ability to encapsulate and deliver therapeutic agents to specific target sites in the body.
The nanotechnology drug delivery market is driven by rise in prevalence of chronic diseases, and advancements in nanotechnology. The rise in prevalence of chronic diseases has emerged as a major driver for the nanotechnology drug delivery market. Chronic diseases, such as cancer, diabetes, cardiovascular diseases, and respiratory disorders, continue to pose significant health challenges globally. According to International Diabetes Federation, in 2021, it was estimated that approximately 537 million people were living with diabetes. Furthermore, according to the same source, the total number of people living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045. For instance, researchers from Monash University, RMIT University, The University of Melbourne and the Baker Institute developed a system that responds to glucose, which current insulin does not.
The preclinical study engineered a superior artificial pancreas system to release insulin only when it is genuinely required by the body, resulting in a more dependable regulation of blood glucose levels. This innovative nano sugar platform facilitated prompt and consistent insulin delivery that responded to glucose levels, surpassing other systems in terms of duration and intelligence. The unique capabilities of nanotechnology in enhancing drug delivery precision, targeting, and personalized medicine have positioned it as a promising solution to address the challenges associated with chronic disease management. Thus, the rise in prevalence of chronic diseases has become a key driving force behind the growth of the nanotechnology drug delivery market.
Furthermore, technological advancements in nanomedicines are expected to play a significant role in the growth of the nanotechnology drug delivery market. The limitations of traditional drug delivery systems (DDSs) have led to a significant rise in the popularity of nanocarriers. For instance, scientists at Arizona State University have created an "origami nanorobot" known as such due to its ability to transform into different forms. It comprises a flat synthetic DNA sheet coated with a blood-clotting enzyme. Once injected into the bloodstream, the nanoscale DNA sheet is designed to locate tumor cells, bind to their surface, and introduce the blood-clotting enzyme, effectively depriving the tumor cell of the necessary blood supply for its survival.
This tiny robot addresses a challenging aspect of cancer treatment, which involves eradicating cancer cells while minimizing damage to nearby healthy tissue. However, manufacturing complexities might act as a restraint for the growth of the market. On the other hand, government initiatives such as funding to encourage research activities are expected to serve as growth opportunity in the nanotechnology drug delivery market. The nanotechnology drug delivery market is segmented on the basis of formulation, application, and region. formulation, the market is categorized into lipid-based nanomedicine, polymer-based nanomedicine, nanocrystals, and others.
The others include inorganic nanoparticles, protein-based nanoparticles, and micelles. On the basis of application, the market is categorized into oncology & hematology, infectious diseases, orthopedics, neurology, urology, immunology, and others. The others include gastrointestinal, inflammatory, endocrine, integumentary ophthalmology, and cardiology.
On the basis of region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and Rest of LAMEA). The key players that operate in the global nanotechnology drug delivery market are AbbVie Inc, Pfizer Inc., AstraZeneca plc, Johnson & Johnson, Amgen Inc, Merck KGaA, Nanobiotix SA, Novartis AG, Bristol-Myers Squibb Company, and Teva Pharmaceutical Industries Limited.