Market Research Future (MRFR) believes that the Nano Biotechnology Market Insights could capture a valuation of around USD 9,500 Million by 2027. Moreover, between 2020 and 2027, the market size shall expand at a rate of 10.0%, reveals MRFR.
The COVID-19 pandemic has led to closure of several business all over the world, with many operational facilities forced to shut down in the wake of strict lockdowns being imposed by the government. The lockdown posed several challenges to the healthcare sector, with manufacturing of medical devices slowing down and imbalance in supply and demand gap for a variety of essential healthcare products.
Furthermore, there were disruptions to the supply chains for various medical supplies, causing a significant rift between the supply and demand ratio and huge revenue losses for the manufacturers. However, nanobiotechnology emerged as a credible solution, by accelerating the development of vaccines. It is being used for developing new and highly effective medicine formulations that have lower side effects. The technology is also helping design new materials and tools to be used in healthcare, electronics, energy generation, and biomaterials.
Nanobiotix (France), Nami Therapeutics (US), Nanophase Technologies Corporation (US), Sigma-Aldrich (US), Ablynx (Belgium), Nano Bridging Molecules SA (Switzerland), Celgene Corporation (US), SkyePharma Pharmaceuticals (France), Dabur Pharma (India), XanTecBioanalytics GmbH (Germany) are listed in the report as some of the most affluent contenders in the global Nano Biotechnology Market Players.
For presenting an exhaustive outline of the global nano biotechnology Market Outlook, the MRFR report has considered a few segments, namely application as well as therapeutics.
Major applications of nano biotechnology are medical devices, pharmaceuticals, food and agriculture, and medical research. The pharmaceutical segment has procured the top spot in the market and shall continue to thrive backed by the rising spending on R&D for advanced drugs to be used in the treatment of various chronic diseases.
With respect to therapeutics, the global nano biotechnology industry has been split into orthopedic therapies, cardiac therapies, dental therapies, and others. The cardiac therapies category is in the lead, thanks to the surging cases of cardiovascular disorders all around the world.
Top Growth Boosters & Impediments
Nano biotechnology’s commercial applications in the biomedical field are primarily directed towards designing advanced drug delivery systems, and this rising use of the technology is likely to have a tremendous impact on the global market in the several years to follow. Pharmaceutical and biotechnology sectors are and will remain the biggest end-users of nano biotechnology. Drug delivery is one of the most crucial applications of nano biotechnology, which is a primary reason for the robust market growth worldwide. Other than addressing solubility-based challenges, nanobiotechnology also provides intracellular delivery possibilities while enhancing the skin penetration rate in multiple transdermal drug delivery cases. Another extremely noteworthy application includes nonviral gene therapy vectors, which is proving to be a huge growth booster in the global market.
Nano biotechnology has significant potential to create innovative interface systems between multiple physical objects and several living cells to facilitate connection between electronic devices with the biological systems. Years of vigorous research and development with respect to nanobiotechnology has now given way to synthesis of highly advanced nanofabricated systems as well as devices that help treat various acute ailments. Microfabrication has been gaining traction, used extensively for developing miniature biological systems.
The nano biotechnology industry has been regionally divided into Europe and North America along with MEA or Middle East and Africa as well as APAC or Asia Pacific.
North America is more than likely to attain the highest position in the global market, thanks to the large-scale spending on R&D projects, as well as the well-developed research institutions focused on product innovation. The strict government measures aimed at improving the healthcare system, combined with the rising demand from numerous major end users could also contribute to the market growth. Many of the companies in the region are investing considerably in R&D of new products and technologies, with business expansion being the big picture. Favorable business scenario in the region for biotechnology and pharmaceutical manufacturers in view of the high success rates of clinical trials and the surge in Food and Drug Administration (FDA) approvals. Nanobiotechnology’s accelerated use in the neurology field has further bolstered the market size in the United States.
The European market for nanobiotechnology is not far behind, on account of the emergence of technologically innovative products paired with the presence of robust R&D facilities. Government assistance, substantial investments made by the manufacturers, and the extensive use of cutting-edge technologies during manufacturing also propel the market position in the region.
With that said, the fastest growth will be seen by Asia Pacific, a region brimming with lucrative opportunities in the form of rapidly improving healthcare infrastructure as well as the mounting burden of chronic diseases like neurological and cardiovascular disorders. The sizeable funds by the government for upgradation of the healthcare system offers growth avenues to the industry firms.
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