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Nanomedicine Market - By Modality (Treatment, Diagnostics), Application (Drug Delivery, IVD, Implant, Vaccine), Indication (Oncology, Infectious, Cardiovascular, Neurological), Molecule (Nanoparticle, Nanotube, Nanodevice), Global Forecast, 2023 – 2032

  • Report ID: GMI5909
  • Published Date: Jun 2023
  • Report Format: PDF

Nanomedicine Industry Analysis

Nanomedicine Market size is predicted to grow at a (CAGR) of 11% from 2023 to 2032, with a value of USD 210.3 million in 2022. Significant advancements and the recent commercialization of technologies such as mRNA and liposome-based vaccines are projected to propel the expansion of nanomedicines in the coming years. In addition, the growing prevalence of nanotechnology-based pharmaceutical drug delivery technologies, as well as the widespread inefficiency of traditional therapies, offer potential growth opportunities for the nanomedicine business.

Nanomedicine Market

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Nanomedicine has the potential to transform the way diseases are treated. Nanoparticles can be utilised to deliver medications to tumours with better accuracy, reducing adverse effects and improving therapeutic success. Nanoparticles can potentially be utilised to transfer genes to cells for the treatment of genetic diseases.

The nanomedicine market is currently in its early phases of development, but it is anticipated to increase significantly in the future years. Several factors are contributing the  development of novel nanomedicines, including the increased prevalence of chronic diseases, the rising expense of medication research, and the desire for precision medicine.

COVID-19 Impact

The COVID-19 pandemic had a significant impact on the nanomedicine market. In the short term, the pandemic has led to a decrease in research and development spending, as well as a disruption in supply chains. However, in the long term, the pandemic has driven growth in the market, as there is a growing demand for new and innovative treatments for COVID-19 and other diseases.

Moreover, nanomedicine is a rapidly growing field that uses nanotechnology to develop new treatments for diseases. Nanoparticles can be used to deliver drugs more effectively to target cells, and they can also be used to diagnose diseases at an earlier stage. Nanomedicine has the potential to revolutionize the way we treat diseases, and the COVID-19 pandemic has accelerated the development of new nanomedicine products.

Nanomedicine Market Trends

The market is experiencing several key trends that are shaping its development and driving innovation. Some of the prominent trends in the field include increasing focus on personalized medicine, advancements in drug delivery systems, growing application in oncology, emergence of nanosensors and diagnostics, integration of nanotechnology with other fields, and expansion of nanomedicine applications beyond healthcare. These trends indicate a promising future for the market and is expected to witness significant growth and transformative impact on healthcare and other industries.

Nanomedicine Modality Segmentation

Nanomedicine Market Size, By Modality

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Based on modality, the market is segmented as treatment and diagnostics. In 2022, the treatment segment accounted for the majority of the nanomedicine market size and is expected to grow at the fastest rate throughout the forecast period. One of the key drivers for this segment is the potential for enhanced therapeutic efficacy. Nanomedicine offers unique opportunities to improve the delivery of drugs and therapeutic agents to target sites within the body, resulting in more effective treatments.

In addition, nanomedicine enables targeted drug delivery, where therapeutic agents are encapsulated or attached to nanoparticles or nanocarriers. These nanoscale delivery systems can be designed to selectively target specific cells, tissues, or organs, allowing for precise drug delivery. This targeted approach enhances the therapeutic efficacy by concentrating the drug at the desired site and reducing its exposure to healthy cells, minimizing side effects.

Nanomedicine Application Segmentation

Nanomedicine Market, By Application

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Based on application, the nanomedicine market is segmented as drug delivery, in vitro diagnostics, implants, vaccines, in vivo imaging, and other applications. The drug delivery held a dominant market share of around 35.9% in 2022 and is expected to grow at a significant pace during the analysis period. Many drugs have limitations in terms of stability or solubility, which can affect their efficacy. Nanomedicine offers solutions to overcome these challenges by encapsulating drugs within nanoparticles or attaching them to nanocarriers. This encapsulation or attachment protects the drug from degradation and improves its solubility, ensuring better drug stability and bioavailability. This, in turn, enhances the drug's efficacy and allows for effective delivery to the target site.

Nanomedicine Indication Segmentation

Based on indication, the nanomedicine market is segmented as oncology, infectious diseases, cardiovascular diseases, orthopedic diseases, neurological diseases, and other indications. The oncology segment held a dominant market share in 2022 and is expected to grow at a significant pace of 11.5% between 2023 to 2032. This growth can be attributed to a number of factors, including increasing incidence of cancer, limited efficacy of conventional cancer therapies, advances in nanotechnology, and growing investment in nanomedicine research.

Conventional cancer therapies, such as chemotherapy and radiation therapy, can be effective in killing cancer cells. However, these therapies can also have significant side effects, such as nausea, vomiting, hair loss, and fatigue. Nanomedicine offers a potential solution to these problems, by delivering drugs directly to cancer cells, with minimal damage to healthy cells. This collectively contribute to the importance and growth of oncology segment.

Nanomedicine Market, Molecule Type Segmentation

Based on molecule type, the nanomedicine market is segmented as nanoparticles, nanotubes, nanodevices, and nanoshells. The nanoparticles segment is further divided into metal & metal oxide nanoparticles, liposomes, polymers & polymer drug conjugates, hydrogel nanoparticles, dendrimers, and inorganic nanoparticles. The nanoparticles segment held a dominant market share in 2022 and is expected to grow at a significant pace between 2023 to 2032. The large share of this segment can be attributed to its unique properties such as small size, large surface area, tailorable surface properties, drug delivery capabilities, imaging capabilities, versatility in functionalization, biocompatibility, and biodegradability. These characteristics make nanoparticles valuable tools for targeted drug delivery, imaging, and personalized medicine, offering significant potential for improving treatment outcomes in various diseases and advancing the field of nanomedicine.  

Nanomedicine Regional Analysis

North America Nanomedicine Market Size,

North America nanomedicine market accounted for significant revenue in 2022 and is anticipated to grow at 11.3% during the forecast timeframe. North America has a well-defined regulatory framework for the approval and commercialization of medical products, including nanomedicine. Regulatory agencies, such as the Food and Drug Administration (FDA) in the U.S., have specific guidelines and processes in place to assess the safety and efficacy of nanomedicine products. The existence of a transparent and efficient regulatory environment enables companies to navigate the approval process and bring their nanomedicine products to market.

Nanomedicine Industry Leaders

Some of the major market players operating in the nanomedicine market are Sanofi SA, Celgene Corporation, Nanobiotix, Luminex Corporation, Nanospectra Biosciences, Inc., NanoCarrier Co. Ltd., Johnson & Johnson Services, Inc., Merck & Co., Inc., Pfizer, Inc., NanoCarrier Co. Ltd., Taiwan Liposome Company Ltd., Hoffmann-La Roche AG (Roche), Gilead Science Inc., and Ipsen SA. These players focus on strategic partnerships, new application launch & commercialization for market expansion.

Nanomedicine Industry News:

  • In March 2022, The University of Hong Kong (HKU) has developed a photo-responsive nanomedicine for light-controlled colorectal cancer therapy. The nanoparticles are simply made by self-assembly of a near-infrared dye and a prodrug. After intravenous injection, the nanoparticles can target colon tumours and release drugs to kill cancer cells upon light irradiation. This process can be in-situ monitored by in vivo imaging.
  • In January 2022, Pfizer Inc. and Acuitas Therapeutics, announced development and option agreement in which Pfizer will have the option to licence Acuitas' LNP technology for up to ten targets for vaccine or therapeutic development on a non-exclusive basis.

The nanomedicine market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032, for the following segments:

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By Modality, 2018 - 2032 (USD Million)

  • Treatment
  • Diagnostics

By Application, 2018 - 2032 (USD Million)

  • Drug delivery
  • In vitro diagnostics
  • Implants
  • Vaccines
  • In vivo imaging
  • Other applications

By Indication, 2018 - 2032 (USD Million)

  • Oncology
  • Infectious diseases
  • Cardiovascular diseases
  • Orthopedic diseases
  • Neurological diseases
  • Other indications

By Molecule Type, 2018 - 2032 (USD Million)

  • Nanoparticles
  • Metal & metal oxide nanoparticles
  • Liposomes
  • Polymers & polymer drug conjugates
  • Hydrogel nanoparticles
  • Dendrimers
  • Inorganic nanoparticles
  • Nanotubes
  • Nanodevices
  • Nanoshells

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Switzerland
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific 
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America 
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • Rest of Middle East & Africa


Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Global market for nanomedicine recorded USD 210.3 million in 2022 and will showcase 11% CAGR from 2023-2032 due to the increasing advancements and commercialization of technologies, including mRNA and liposome-based vaccines.

The drug delivery application segment held 35.9% of the market share in 2022 driven by the higher need to ensure better drug stability and bioavailability.

Nanomedicine industry share from the oncology indication segment is expected to witness 11.5% CAGR from 2023-2032 due to the increasing incidence of cancer.

North America nanomedicine market size is anticipated to witness 11.3% CAGR from 2023-2032 due to the strong presence of well-defined regulatory framework for the approval and commercialization of medical products.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 14
  • Tables & Figures: 352
  • Countries covered: 21
  • Pages: 202
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