Key Players for Global Nano Therapy Market
Some of the major players for the nano therapy market are Smith and Nephew (UK), Selecta Biosciences, Inc. (US), Sirnaomics, Inc. (US), Tarveda Therapeutics (US), DIM (US), Cristal Therapeutics (the Netherland), CytImmune Science, Inc. (US), Luna (US), NanoBio Corporation (US), NanoBioMagnetics.n.nu (US), Nanobiotix (France), Nanoprobes, Inc. (US), Parvus Therapeutics (US), Nanospectra Biosciences, Inc (US), Nanosphere Inc. (US), NanoMedia Solutions Inc. (Japan).
The global Nano therapy market is segmented on the basis of technologies, applications and end users. On the basis of technology, the market is further segmented into nanomaterial and biological devices, Nano electronic biosensors, molecular nanotechnology, implantable cardioverter-defibrillators, and other. On the basis of applications, the market is segmented into cardiovascular disease, cancer therapy, diabetes treatment, rheumatoid arthritis, and others. On the basis of end users, the nano therapy market is further divided into hospitals, clinics and research institutions.
America dominates the global Nano therapy market owing to large diabetic population. According to National Diabetes Statistics Report, 2017, around 30.3 million people of all ages that is nearly 9.4% of the U.S. population had diabetes in 2015. Moreover, the accessibility of technology, increasing healthcare expenditure, and increasing government support for the research and development are some more factors supporting the growth in this region. Europe is the second largest nanotherapy markets, which is majorly driven by awareness and advancement in the nanotechnology sector. Asia Pacific is the fastest growing market owing to increasing demand for the better treatment options, and rising initiatives to include IT healthcare sector. Whereas, due to less development in technology, and low infrastructure level the market for Middle East & Africa will have limited growth in the nanotherapy market.
Figure 1- Global Nano Therapy Market, by application
Source- U.S. Department of Health and Human Services, National Institutes of Health, National Cancer Institute, National Center for Biotechnology Information, U.S. National Library of Medicine Annual reports, press release, white paper, company presentation
nano therapy market is projected to grow at an 8.2% CAGR between 2017-2023.
The Americas is projected to lead the nano therapy market.
Nano therapy finds extensive applications in rheumatoid arthritis, diabetes treatment, cancer therapy, cardiovascular disease, among others.
Increasing healthcare expenditure and rising prevalence of cancer are the key factors boosting the nano therapy market growth.
High treatment cost and lack of regulatory standards may restrict the nano therapy market growth.