Market Overview
- The Global Nanotechnology in Drug Delivery Market is expected to grow at a high CAGR during the forecasting period (2020-2027).
- Nanotechnology in drug delivery is the rapidly developing way of providing effective treatment for various diseases. The nanotechnology-based drugs can have the potential to deliver the drugs at targeted and affected parts of the human body by reducing the side effects. Nanotechnology drug delivery utilizes the nanoscale range nanoparticles like liposomes, chemotherapeutic agents, biological agents, etc., to deliver the therapeutic agents to specifically targeted sites in a controlled manner. The nanotechnology drug delivery has certain benefits including improving the ability to deliver poorly water-soluble drugs, reduce drug accumulation within healthy tissue, combine therapeutic and diagnostic modalities through one agent, transportation of drugs across epithelial and endothelial barriers, protection from the biological environment, effective treatment can be achieved by retaining the drug in the body long time.
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Market Dynamics:
- The market is driven by the rising prevalence of chronic ailments like cancer, tumor, heart disease, coronary artery disease due to an unhealthy lifestyle, and changing environment around the globe. According to the World Health Organization in 2018, Cancer is the leading cause of death accounted for 9.6 million people who died around the globe and more than 300000 patients are being diagnosed each year. Nanomedicine plays a vital role in enhancing human health by reducing side effects. Currently, nanotechnology-based drug delivery statins, nano antibiotics, and Other agents can be utilized as a valid treatment for preventing certain diseases like cancer, coronary artery disease, and many others. Nano antibiotics will utilize this effect to enhance infection treatment via the application of both nanoparticles with antimicrobial therapies and nanosized biological molecules for improved antibiotic drug delivery.
- There is a rise in FDA approvals and a surge in the development of innovative drugs through extensive research and development treatment of various diseases has created ample opportunity for this market. For instance, on 17th June 2020, Nanobiotix Company had been received feedback on plans for the development of effective designed platinum-based chemotherapy from the US FDA. The Company had started to advance Phase III clinical trials for the treatment of neck and head cancer based on chemistry, manufacturing, and controls (CMC) development through necessary study design to support the future New Drug Application (NDA).
Segment Analysis
- The global nanotechnology in drug delivery market is segmented based on technology, applications, and region.
- In terms of technology type, the global nanotechnology in the drug delivery market is bifurcated into micelles, nanoparticles, liposomes, nanocrystals, and others. Among these, the nanoparticles segment has the highest market share in 2019 owing to the increasing launching of advanced technology-based nanoparticles for effective treatment and avoiding the side effects due to harmful drugs. For instance, on 5th Nov 2019, MIT engineers had been developed the nanoparticle coated with “right-handed” molecules orientation that had been offered to enhance drug delivery.
- Depending on technology type micelles, nanoparticles, liposomes, nanocrystals segments are also growing at a faster pace owing to increasing the demand for effective treatment drugs with the rising launching of new nano-based medicine. For instance, on 14th May 2020, NanOlogy Company had been launched a new drug delivery injection Nanopac for targeting the treatment of Pancreatic Cancer and Mucinous Cystic Neoplasms.
- Depending on the applications, global nanotechnology in the drug delivery market is divided into anti-infective, neurology, anti-inflammatory/immunology, oncology, cardiovascular/physiology, and others. Among this, the anti-inflammatory/immunology segment has the highest share in 2019. This is primarily due to rising investment for the development of the new drugs for the immune system for various diseases. For instance, Ventus launched Wednesday with $60 million from Versant Ventures and GV. Working out of dual headquarters in Waltham and Montreal, the biotech plans to create drugs that target the immune system’s first line of defense, known as the innate immune system. For instance, on 6th May 2020, Ventus Therapeutics Company had been received funding of the USD 60 Million to develop medicines that have been targeted the innate immune system.
- Similarly, anti-infective, neurology, oncology, cardiovascular/physiology segments are also growing at a faster pace owing to an increase in the prevalence of chronic ailments like cancer, cardiovascular, neurological diseases, etc., around the globe. According to the World Health Organization, an estimated 31% of all global deaths that are around 17.9 million people die each year due to cardiovascular diseases. This propels the advanced treatment methods for the effective treatment of the diseases through the nanotechnology drug delivery systems.
Geographical Analysis
- By region, the global Nanotechnology in Drug Delivery market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. Among all of the regions, North America is the dominant region for global nanotechnology in the drug delivery market and is expected to grow at the highest CAGR during the forecasted period due to the presence of leading healthcare players with the presence of the advanced technology followed by the Europe region. Furthermore, rising the prevalence of chronic diseases like cancer, cardiovascular, etc., in this region due to an unhealthy lifestyle and diet had propelled the demand for the nanotechnology in drug delivery market. According to a recent study by American Cancer Society researchers, in the United 750000 cases were diagnosed that is at least 42% of cancer cases in 2020. This propels the demand for the electronics avionics market during the forecast period.
- The Asia Pacific is also growing at a faster pace for the nanotechnology in drug delivery market, owing to the prevalence of chronic diseases like cancer, cardiovascular, etc. According to the Cancer Organization in 2018, the Asia Pacific region has accounted for around 5.7 million cases were diagnosed and is projected to reach around 7.8 million new cancer cases by 2050. This will propel the demand for advanced treatment for drug delivery through nanotechnology.
Competitive Analysis
- The global nanotechnology in drug delivery market is highly competitive with the presence of several international and local markets. Product diversification, revenue generation, and opportunities intensify the market competition. Ceramisphere Health Pvt Limited, Cristal Therapeutics, CYTIMMUNE SCIENCES, Inc., Nanobiotix, NanoCarrier Co. Ltd., NanOlogy LLC, EnColl Corporation, EyePoint Pharmaceuticals, AbbVie Inc., Aquanova AG, BlueWillow Biologics, Camurus AB, Celgene, Inc., Lena Nanoceutics Ltd. are the leading market players with significant market share.
- There is rising FDA approval for the adoption of advanced technology like nanotechnology for the treatment of various chronic diseases like cancer, cardiovascular diseases, etc., which have created a huge opportunity for this market. For instance, on 9th June 2020, NanOlogy Company had started the clinical trials using nanotechnology-based drug delivery devices like intratumoral (IT) injections of NanoPac for the treatment of lung cancer with FDA permission. Companies are entering into the collaborations, acquisitions, mergers, and licensing for increasing their market penetration.
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