Seattle, WA -- (SBWIRE) -- 09/24/2019 -- Nanopharmaceuticals Market, by Carrier Type (Liposomes, Polymer, Nanocrystals, Inorganic, Protein, and Others), by Application (Oncology, Neurology, Anti-inflammatory, Anti-infective, Cardiovascular, and Others), by End User (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global industry Insights and Forecast till 2026
Nanopharmaceuticals play a major role in advance healthcare, as it is widely used in drug delivery. Nanopharmaceuticals differ from other macroscopic level of medicines in its shape and composition and offer advantages over the bulk analogues such as precision targeting and patient compliance.
The global nanopharmaceuticals market size was valued at US$ 28,434.3 million in 2017, and is expected to exhibit a CAGR of 22.1 % over the forecast period (2018 – 2026).
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Increasing prevalence of cancer and neurological diseases is expected to drive growth of the global nanopharmaceuticals market.
Nanopharmaceuticals find applications in various diseases such as neurological disorder, cancer, and other diseases. Increasing prevalence of cancer worldwide is expected to drive the market growth. For instance, according to World Health Organization (WHO)'s September 2018 factsheet, around 9.6 million deaths were recorded due to cancer globally. Moreover, according to the same source, in 2018, cancer was the second leading cause of death globally.
Furthermore, increasing prevalence of neurodegenerative diseases such as Parkinson's and Alzheimer's disease is expected to drive the global nanopharmaceuticals market growth during the forecast period. For instance, according to World Alzheimer Report, 2015, around 46 million people were diagnosed with dementia worldwide. According to the same souce, the prevalence is estimated to increase to around 131.5 million by 2050.
However, the lack of regulatory guidelines and potential toxic effects of the drugs are expected to restrain growth of the market during the forecast period. For instance, in December 2017, the P&T Community Journal, Volume 42 mentioned an example of carbon-based nanopharmaceuticals, which showed toxicity in several in vivo and in vitro studies. The oxidative stress along with other factors were assumed to have toxic impact.
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North America holds dominant position in the global nanopharmaceuticals market, owing to increasing research and development activities in application of nanotechnology in pharmaceuticals and rising prevalence of chronic disorders. According to the Centers for Disease Control and Prevention (CDC) factsheet, around 6 in 10 adults are diagnosed with chronic diseases and 4 in 10 adults have two chronic diseases in the U.S. Similarly, chronic diseases account around 75% of healthcare spending.
Key manufacturers in the region focuses on developing and innovating new drugs for meeting the needs of patients, which is expected to bolster the market growth over the forecast period. For instance, in October 2012, Celgene Corporation, a U.S. based company, received approval from U.S. Food and Drug Administration (FDA) for Abraxane (paclitaxel protein-bound particles for injectable suspension), which is used for First-Line Treatment of Advanced Non-Small Cell Lung Cancer.
Moreover, key players in the market are focused on receiving the U.S. Food and Drug Administration (FDA) approval for novel products to treat patients. For instance, in May 2017, NovoNodisk received Food and Drug Administration (FDA) approval for glycopegylated Rebinyn, which is used to control bleeding and bleeding management in patients diagnosed with hemophilia B.
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Detailed Segmentation:
By Carrier:
Liposomes
Polymer
Nanocrystals
Inorganic
Protein
Others
By Application:
Oncology
Neurology
Anti-inflammatory
Anti-infective
Cardiovascular
Others
By Distribution Channel:
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Key Players
Major players operating in the global nanopharmaceuticals market include Abbott, GlaxoSmithKline plc., Eli Lilly and Company, Astrazeneca plc., Novavax, Inc., Stryker Corporation, OSI Pharmaceuticals, Kadmon Pharmaceuticals, Samyang Biopharm, Mitsubishi Tanabe Pharma Corporation, Kaken Pharmaceutical, Selecta Biosciences, Par Pharmaceutical, Cerulean Pharma Inc., Navidea Biopharmaceuticals, Inc., AbbVie Inc., AMAG Pharmaceuticals, Amgen Inc., Astellas Pharma Inc., Celgene Corporation, Gilead Sciences, Inc., JOHNSON & JOHNSON, Merck & Co., Inc., Novartis AG, Pfizer, Inc., Hoffmann-La Roche AG, Sanofi S.A, Shire Plc., and Teva Pharmaceuticals Industries Limited.
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