Nanoscale technology is widely used in medicine where manipulations are made at the molecular level, taking advantage of the novel properties of a material. The primary demand of this field in medicine is in making improvements in the delivery of treatments and healthcare outcomes. Nanotechnology Drug Delivery refers to the usage of nanoscale healthcare materials and technology in pharmaceutical drug delivery to improve the efficacy of the drug.

Increasing prevalence of chronic diseases and illnesses like cancer and cardiovascular diseases have increased the demand for novel drugs that have targeted delivery and are also more effective than traditional drugs. This factor has created demand for nanotechnology drug delivery system. Moreover, increasing advancements in nanoscale technologies and growing preference for personalized medicines have also helped the growth of the market.

However, the cost of nanotechnology drug delivery medicine and stringent regulations for the mechanism approval have restrained the growth of the market.

Key Market Trends

Application in Cardiovascular Segment is Expected to Cover a Large Market Share

Cardiovascular Diseases (CVD) are the leading cause of death globally. According to estimates by the World Health Organization, an estimated 17.9 million people died from CVDs in 2016, representing 31% of all global deaths. Of these deaths, 85% were due to heart attack and stroke. Moreover, some other reports have also reported that the prevalence and number of deaths due to CVDs have increased and are expected to increase in future as well.

According to the American Heart Association, the deaths per year are estimated to grow to more than 23.6 million by 2030. The increasing number of deaths will lead to increased burden among the people, which will increase the demand for novel nanotechnology drug delivery techniques that are efficient than traditional medicine and hence this is expected to drive the overall market to grow.

North America is Expected to Dominate the Nanotechnology Drug Delivery Market

North American countries have a high prevalence of cardiovascular diseases (CVD) and cancer. According to the National Cancer Institute, in 2018, an estimated 1.73 million new cases of cancer will be diagnosed in the United States and more than 600,000 people died from the disease.

According to World Health Organization data reported in 2018, nearly 24% of all the deaths in 2016 in Mexico were attributed to CVD, making it the leading cause of death in Mexico. Cardiovascular disease (CVD), listed as the underlying cause of death, accounted for 840,678 deaths in the US in 2016, as per the American Heart Association. These high prevalences have increased the demand for novel nanotechnology drug delivery technology.

Competitive Landscape

The increasing number of companies are found investing in research and development in this field are allowing for a rise in R&D activities, helping the market expand at a steady pace. There are also collaborations among leading pharmaceutical companies and technology developers that has picked pace in the market in the past few years. A number of companies are also focusing on the development of nanomedicines for the treatment of a variety of cancers.

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