Global Nanotechnology in Medical Applications Market: Overview
In the 20th century, developments in the field of nanotechnology and the applications of the technology in pharmaceuticals and medicines have increased significantly. Nanotechnology uses individual molecules, compounds, or atoms in various structures to produce devices and materials with unique characteristics. It works on matter with dimensions that could range from 1 nanometer to 100 nanometer. Nanotechnology has applications in the formation of various types of nano devices and nano materials. Nanomedicine is a signficant application of nanotechnology. Nanotechnology drugs are used in the field of medicine and health. Nanomedicine makes use of nano electronic biosensors and nano materials. It enables improved diagnosis, early detection and prevention, and proper treatment and examination of diseases. Nanomedicine involves interactions between nano devices and bio molecules in extracellular medium as well as inside human cells. Performance and functioning of drugs at a nano scale is varied from the one seen in a micro scale. The use of nanotechnology can improve the detection of the root cause of diseases and treat the damage that has occurred in the human body. The effect of nanomedicine drugs is faster than that of traditional drugs. Nanomedicine drugs can be used to target specific diseases.
The invention of nanotechnology has benefitted human health to a large extent. Advancements in nanotechnology can help repair and reproduce damaged tissue of the body. Nanotechnology enables the production of artificially stimulated cells that are used in tissue engineering. This helps in the development of artificial implants or transplantation of organs. Nanorobots can be modified to repair particular diseased cells. They function in the same way as antibodies that aid in the natural healing processes within the body. Nanotechnology has signficant contributions in the field of stem cell research. Gold nanoparticles are used in the detection of targeted nucleic acids, with their sequence to recognize the treatment. Gold nanoparticles are being tested for use in the treatment of cancer and other serious harmful diseases. Nanotechnology is being used for developing instruments that purity the human blood. Magnetic microparticles aid in the separation of proteins and cells from complex media, thus helps in the examination of infections in diseases such as sepsis.
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Global Nanotechnology in Medical Applications Market: Key Trends
The global nanotechnology in medical applications market is expected to expand at a rapid pace in the coming years. Research and development in nanomedicine is expected to drive the market. Moreover, government funding programs specifically for nanotechnology in key regions are expected to augment the market. However, long drawn out product approval processes and high costs of nanotechnology-based medical devices and products are expected to inhibit the growth of the nanotechnology in medical application market from 2018 to 2026.
Global Nanotechnology in Medical Applications Market: Segmentation
The global nanotechnology in medical applications market can be segmented based on product, application, and region. Based on product, the global nanotechnology in medical applications market can be classified into nanoparticles, biochips, medical textiles, implantable materials, active implantable devices, wound dressings, and others. The implantable materials segment can be further divided into dental filling materials and bone restorative materials. The active implantable devices segment can be further divided into cardiac rhythm management devices, hearing aid devices, and retinal implants. The active implantable devices segment is expected to constitute a prominent share of the global nanotechnology in medicine application market. In terms of application, the market can be categorized into drug delivery & therapeutics, diagnostics techniques, and others.
Global Nanotechnology in Medical Applications Market: Regional Analysis
Based on region, the global nanotechnology in medical applications market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific is expected to expand at a robust pace, due to an increase in research efforts, rise in geriatric population, and increase in R&D expenditure on nanotechnology in the region.
Global Nanotechnology in Medical Applications Market: Competitive Landscape
Prominent players operating in the global nanotechnology in medical applications market are AstraZeneca, Ablynx, Abraxis BioScience Inc (Celgene Corporation), BioForce Nanosciences, Calando Pharmaceuticals, Inc., Elan (Alkermes), Kereos, Inc, Kleindiek Nanotechnik GmbH, MagForce AG, BlueWillow Biologics, Nanobiotix, Nanocopoeia, LLC., and Transgenex Nanobiotech, Inc.. among others.
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