Ability to Meet End Goals of Modern Healthcare Drives the Commercial Value of Nanotechnology in Drug Delivery
Ability to meet
modern healthcare’s goals of early diagnosis, improved treatment efficacy, personalized
medicine, disease prevention and lower costs is poised to drive the global market for Nanotechnology in Drug Delivery to
reach US$95.7 billion by 2024.
Nanotechnology is emerging to become a
very critical part of the ongoing healthcare reform and healthcare policy
management, given the technology’s potential usher in breakthrough
effectiveness in healthcare treatment and therapy and reduce costs. The global
healthcare system which prospered and developed during the last half a century
as a result of the then witnessed period
of boom in scientific development, economic progress and social stability, is
now facing a period of financial crisis and meltdown. Deficit ridden
governments are seeking to impose cost control mechanisms to rationalize
escalating healthcare costs. The healthcare industry is entering into a new era
of change and paradigm shift in structure. Spiraling healthcare costs are
making the burden of universal healthcare unsustainable. The traditional model
of public funding of healthcare is increasingly becoming obsolete and
unaffordable as governments struggle to fund spiraling healthcare costs of
their aging citizens. Healthcare spending of the state backed systems is
increasing at an alarming rate and much faster than available funds raised
through taxation and insurance. Already underway are massive healthcare reforms
worldwide, where reduced role of the government and a decentralized healthcare system will infuse competition, and innovation. Healthcare
reforms are being designed to chisel out a new vision for health especially
against a backdrop of demographic shifts like aging population, rising drug
costs, and continuous demand for high quality services.
Another disruptive healthcare policy
change is the migration from volume-based reimbursement to value-based
reimbursement (VBR), which exerts significant cost cutting pressures on
hospitals. The evolving era of value driven healthcare therefore supports the
rise of nanotechnology in healthcare. Nanotechnology by enabling understanding,
control and fabrication of materials molecule-by-molecule flaunts the ability
to effectively counter problems typically encountered in medical research,
disease treatment and drug delivery. The technology plays a vital role in
revolutionizing the effectiveness of medical care also eventually reduce the
cost of care. Current healthcare practices are reactive and with nanotechnology
healthcare can move on to proactive and preventive care. Early disease
detection/management, more precise diagnosis and more effective therapies will
not only reduce the cost of care but will also amplify the effectiveness of
medicine. Right from drug development, drug delivery systems, medical devices
and instruments, diagnostic sensors to cell repair machines and nanobots,
nanotechnology has far reaching implications in healthcare. Nanomedicine in
this regard, stands the forefront of a new era of opportunities in
healthcare.
As stated by the new market research
report on Nanotechnology in Drug Delivery, the United States and Asia-Pacific represent large
markets worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR
of 27.7% over the analysis period, led by factors such as growing population
and a parallel rise in healthcare burden; growing awareness over the ability of
nanotechnology to improve health especially in resource-poor developing
southeast Asian countries; growing investments and number of nanomedicine R&D
projects and a developing network of academic researchers; increased focus on
developing sustainable healthcare solutions; and acute need for revolutionary
challenges for medical challenges such as cancer, diabetes, Parkinson's or
Alzheimer's disease, cardiovascular and inflammatory diseases.
Major players in the market include AbbVie
Inc., Aquanova AG, BlueWillow Biologics, Camurus AB, Celgene, Inc.,
Ceramisphere Health Pty Limited, Cristal Therapeutics, CYTIMMUNE SCIENCES,
INC., EnColl Corporation, EyePoint Pharmaceuticals, Lena Nanoceutics Ltd.,
NanOlogy LLC, NanoCarrier Co., Ltd., Nanobiotix, Nanospectra Biosciences, Inc.,
Parvus Therapeutics Inc., Selecta Biosciences, Starpharma Holdings Limited,
Taiwan Liposome Co., and Tarveda Therapeutics, among others.
The
research report titled “Nanotechnology in Drug
Delivery – Market Analysis, Trends, and Forecasts” announced by Global Industry Analysts Inc., provides a
comprehensive review of market trends, issues, drivers, mergers,
acquisitions and other strategic industry activities of global companies. The report provides market estimates and
projections for all major geographic markets such as the U.S., Canada, Japan,
Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific
(China and Rest of Asia-Pacific), Latin America and Rest of World. Technology types
analyzed in the report include Nanocrystals and Nanocarriers.
For cutting edge analyst reviews on top industries
Comments
Post a Comment