Healthcare Nanotechnology Market - Industry Analysis and Growth, 2024

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Healthcare Nanotechnology Market Share, Size, Analysis,
Growth, Trends and Forecasts to 2024 | Hexa Research
The global healthcare nanotechnology market is anticipated to grow at a CAGR surpassing
12% from 2016 to 2024 (forecast period). This market is primarily driven by technological
advancements & innovations in nanotechnology. Nanotechnology in healthcare aims at
curing molecular & submicroscopic parts by monitoring & repairing, and by reconstructing
them. This industry is propelled by development initiatives that are funded by government
& private organizations that focus on neurological & cardiovascular ailments. Focus on
enhancing drug efficiency also has a favorable impact on market demand. Nanotechnology
is expected to gain importance in the areas of disease prevention, diagnosis, and therapy.
The global healthcare nanotechnology market is segmented on the basis of applications,
end users, and regions. On the basis of applications, the industry is categorized into clinical
cardiology, drug delivery systems, clinical neurology, molecular diagnostics, clinical
oncology, and anti-inflammatory & anti-infective applications. The other applications are
kidney andophthalmology, dental, hematology, and orthopedic. Clinical oncology is a
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rapidly growing segment due to the efficacy of nano particles to fight against cancerous
tissues & tumors.
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High incidence of cardiovascular anomalies can augment the cardiovascular segment over
the forecast period. The market for nanotechnology applications in cardiology holds high
growth potential in most developing & underdeveloped economies. The anti-infective
segment is projected to expand considerably because of rising prevalence of air -borne
diseases, bird flu, and swine flu. Based on end users, the market is trifurcated into
ambulatories, clinics, and hospitals.
The hospitals segment may expand substantially owing to rising cases of chronic ailments
and high awareness about disease prevention. A number of large and medium sized
hospitals have begun adopting nanotechnology. Unlike small hospitals that have limited
resources, the large ones can adopt newer technologies because of favorable budgetary
conditions.
Geographically, the global industry is divided into Asia Pacific, North America, Europe, and
Rest of the World. North America held the highest share in terms of revenue in 2014.
Factors, such as high investments and sophisticated technologies can fuel this region in the
forthcoming years. Ongoing industry trends suggest that Asia Pacific may register a high
rate of growth at the same time. Key regional drivers are surging disposable incomes,
outsourcing of healthcare services, and growing population.
Prominent companies operating in the worldwide healthcare nanotechnology market are
Celgene Corporation, CombiMatrix Corporation, Johnson & Johnson, Abbott Laboratories,
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and Teva Pharmaceuticals Industries Ltd. Characterized by stiff competition, the industry
witnesses frequent business ventures and regional expansion initiatives.
Researchers & scientists are trying to develop nanosensors that can detect the occurrence
of heart attacks (myocardial infarction). This could not only save lives but also money. Such
a technology uses miniature blood stream nanosensors chips that can sense the onset of a
heart attack. An individual with the help of this tiny chip can receive a warning on some
wireless device or smartphone to immediately seek medical help. The updated version of
this chip measures only ninety microns (a size way lesser than a sand grain). This
combination of a smartphone and a nanosensor may even help detect certain types of
cancers and autoimmune diseases. These sensors are mostly used in animals for glucose
detection.
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Increasing demand of nanotechnology owing to the development programs funded by both government and private sectors organization for cardiovascular and neurology based diseases is also expected to drive the healthcare nanotechnology market.