ID: MRFR/LS/0623-HCR | 120 Pages | Published By Rahul Gotadki on March 2023
The Americas Gold Nanoparticles Market is expected to reach USD 367.3 Million by 2030 at 17.4% CAGR during the forecast period 2022-2030.Recent advancements in nanotechnology have given rise to a generation of various types of nanoparticles, such as gold nanoparticles (AuNPs), specially designed to act as radiosensitizers and photothermal sensitizing agents. Functionalized AuNPS are employed in combination with non-ionizing and ionizing radiations to improve the efficacy of cancer treatment while at the same time sparing normal tissues. Some of the common applications of gold nanoparticles are anti-microbial activity, in nanowires and catalyst, photodynamic therapy, as substrates to enable the measurement of vibrational energies, and detection of biomarkers in the diagnosis of cancer, infectious agent, and heart diseases.
The most promising applications of nanoparticles are in cardiovascular medicines because the biological barriers associated with them are negligible.
Gold nanoparticles in the biosensor technology play a vital role in the targeted sensing of selective bio-molecules using functionalized gold nanoparticles. Gold nanoparticles-based sensors are expected to change the foundations of sensing and detecting bio-molecules. The application of gold nanoparticles in smart sensor fabrication will lead to the detection of specific biomolecules.
Notably, the growing adoption of nanotechnology in the healthcare industry and escalating prevalence of cancer and other chronic diseases are the key factors driving the gold nanoparticles market. According to the report published in the Centers for Disease Control and Prevention (CDC) in 2017, nearly 92.1 million adults were dealing with at least one type of cardiovascular disease. The CDC has also stated that out of the total annual healthcare expenditure, i.e., USD 27 trillion, 86% is for people with chronic health conditions in the United States. The increasing prevalence of chronic diseases, especially cardiovascular diseases and cancer, strongly promotes the growth of the market.
Various other push factors such as the increasing demand for medical imaging, rising technological advancements, increasing participation of market leaders, increasing government assistance, and amendments in regulatory framework are continuously contributing to the growth of the Americas gold nanoparticles market.
Despite these drivers, there are some issues associated with the gold nanoparticles market. Few challenges in research and development, stringent regulations of the U.S. Food and Drug Administration (FDA), the high cost of production, difficult handling of nanomaterial, and poor healthcare systems in low- and middle-income countries may hinder the growth of the gold nanoparticles market to an extent.
Some of key the players in the Americas gold nanoparticles market are Appolo Biolife, BBI Solutions, Cytodiagnostics, Goldsol, Innova Biosciences, Johnson Matthey Plc, Meliorum Technologies, Inc., Metalor, NanoBio Chemicals India Pvt. Ltd, nanoComposix, NanoHybrids Corp., Nanopartz Inc., NanoRods LLC, Nanosphere, Nanostellar, Sigma-Aldrich, Solaris Nanosciences, TANAKA HOLDINGS, and others.
The American gold nanoparticles market is segmented on the basis of type of gold nanoparticles, application, and end-user.
On the basis of the type of gold nanoparticles, the market is segmented into Nanorods, Nanoshells, and Nanocages
On the basis of the application, the market is classified into medical and dentistry, catalysis, electronics, and others. Medical and dentistry is further classified as Nano Oncology, Nano Neurology, Nano Imaging, Nano Cardiology, Nano Immunology, and Therapeutics. The others segment includes glass, cosmetics, and photometry.
On the basis of end-user, the market is segmented into hospitals, diagnostics centers, research and academic institutes, and others.
The American gold nanoparticles market comprises of two regions namely North America and South America. North America is the largest market whose growth is attributed to the rising technological advancements, high healthcare expenditure, and rising cases of cancer. According to the statistics suggested by the National Cancer Institute, around 1,685,210 new cases of cancer were diagnosed in the United States, and 595,690 died from the disease. It is also reported that the cancer mortality is higher among men than women, i.e., 207.9 per 100,000 men and 145.4 per 100,000 women. The condition is found to be the highest in African American men, i.e., 261.5 per 100,000, and lowest in Asia Pacific Islander women, i.e., 91.2 per 100,000. Owing to the tunable and highly sensitive optical and electronic properties of gold nanoparticles, they are now widely used in bio-imaging and phototherapy. The implementation of theranostic nanomaterial has a great potential for improved cancer treatments and reduced side effects.
According to the statistical data suggested by the Centers for Disease Control and Prevention (CDC), the total health expenditure in the United States was 3.2 trillion in 2015. Whereas, hospital care accounted for a share of 32.3%.