With the emergence and long-term Impact of COVID-19, the Global Nanotechnology Drug Delivery Market is to reach USD XX Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Nanotechnology Drug Delivery Market is poised to raise up to USD XX Billion by 2030. Nanotechnology drugs enhance the targeted delivery of drugs to specific cells, tissues, or organs in the body. It involves the design, development, and utilization of nanoparticles or nanoscale materials to deliver therapeutic agents in a controlled manner. Nanotechnology drug delivery has the potential to revolutionize healthcare by improving the efficacy and safety of drug treatments. It is an active area of research and development, with numerous nanotechnology-based drug delivery systems being investigated for various diseases, including cancer, cardiovascular disorders, neurodegenerative diseases, and infectious diseases.
The Nanotechnology Drug Delivery market is expanding because of factors such as the growing prevalence of cancer and genetic and cardiovascular diseases and growing preference for personalized medicines as well as the rising number of drug development activities across the world. Demand for novel drugs with targeted delivery for various chronic diseases has increased primarily due to the rising prevalence of chronic diseases such as diabetes, cardiovascular, cancer disease. Diabetes is becoming more and more common among people worldwide. According to information from the International Diabetes Federation (IDF) Diabetes Atlas Tenth Edition 2021, 537 million persons (aged 20 to 79) were estimated to have diabetes in 2021.
According to the same source, by 2030 there will be 643 million individuals worldwide living with diabetes, and by 2045 there will be 783 million. The demand for more technologically sophisticated drug delivery alternatives for treatment and diagnosis will undoubtedly rise as the prevalence of diabetes rises. In addition, the Global Cancer Observatory’s (Globocan) Statistics 2020 report that there were 19.3 million new cases of cancer worldwide in 2020,. The same source notes that cancer is becoming more common worldwide and predicts that by 2040, there would be 28.8 million new instances of cancer in people of both sexes.
As a result, the growing incidence of chronic diseases stimulates the demand for drug delivery systems based on nanotechnology, promoting market expansion. Moreover, increasing advancements in nanoscale technologies, and a rising number of investments in research and development activities is creating new opportunities for the market. However, the high cost of nanotechnology drug delivery techniques and stringent regulations for commercial introduction stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Nanotechnology Drug Delivery Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to rising prevalence of various diseases, the presence of key market players, rising number of investments in research and development activities, rising number of clinical trials and drug discoveries activities in the region as well as rising demand for personalized medicine in the region.
The global Nanotechnology Drug Delivery Market is highly competitive owing to the presence of several key manufacturers such as AbbVie Inc., Aquanova AG, BlueWillow Biologics, Bristol Myers Squibb (Celgene Inc), Cytimmune Sciences Inc., NanoCarrier Co Ltd, and others.
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Global Nanotechnology Drug Delivery Market Size study & Forecast, by Technology (Nanocrystals, Nanoparticles, Liposomes, Micelles, Others) by Application (Neurology, Oncology, Cardiovascular/Physiology, Anti-inflammatory/Immunology, Anti-infective, Other Applications) and Regional Analysis, 2023-2030
Key findings of the study suggest:
- Global Nanotechnology Drug Delivery Market is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030.
- In the application segment, oncology emerged as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to rising prevalence of various diseases.
- Asia Pacific is expected to grow at a high CAGR followed by North America during 2023-2030.
Bizwit Research & Consulting has considered the following segments for the study:
- Other Applications
- North America
- Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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