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Nanomedicine Market Size

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

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Nanomedicine Market Size

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.

Nanomedicine Market Report Attributes
Report Attribute	Details
Base Year:	2022
Nanomedicine Market Size in 2022:	USD 210.3 Million
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	11%
2032 Value Projection:	USD 597.8 Million
Historical Data for:	2018 to 2022
No. of Pages:	202
Tables, Charts & Figures:	352
Growth Drivers:	Growing adoption of nanotechnology-based methods for drug delivery Increasing prevalence of infectious diseases Technological advancements in nanotechnology Increasing aging population
Pitfalls & Challenges:	High development costs Manufacturing complexities

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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.