Nanoparticles - Metal & Metal Oxides Market Hit Almost USD 25.86 billion Figure By 2024

The global Nanoparticles - Metal & Metal Oxides Market in Healthcare was worth USD 25.86 billion in 2016 which is anticipated to reach USD 80.74 billion over the forecast period. The existence of a significant amount of metal and metal oxide nanoparticle based drugs that are authorized by the U.S. FDA and prescribed by physicians for the treatment of acute and chronic ailments is attributive for the estimated market.

Furthermore, presence of molecules in the development phase based on the principle of metal oxide nanoparticles is anticipated to boost growth in the coming years. Applications served by these particles include radiotherapy enhancement, drug & gene therapy, thermal ablation, and sensitive diagnostic assay.

This versatile nature with respect to the applicability in health care makes these particles a substantial source of growth in nanomedicine market. Technological innovations pertaining to reduction of adverse effects linked to the application of these particles is expected to influence growth in the forecasted period.

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Scientists and biologists are currently involved in directing R&D to improve understanding of metal based nanoparticles in order to lessen the toxicity problems associated with their usage. Subsequent developments are anticipated to fast-track the development over the forecast period.

The pharmaceutical field is a continually progressing marketplace with vigorous regulatory standards, growing demand for outcome oriented therapy and rising manufacturing and R&D costs for delivering better products than the existing ones. These concerns are persistently generating pressure on manufacturers and government policy makers to meet patient expectations for providing better drugs at a low price.

Research endeavors carried out for developing novel products is anticipated to boost revenue generation in the coming years. Additionally, the presence of government supported plans such as the National Nanotechnology Initiative (NNI), which offers provision to co-ordinate projects of R&D for nanomedicine technology growth are factors anticipated to strengthen the revenue potential of nanotechnology industry in healthcare.

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Gold particles have the biggest share with respect to revenue owing to their vast use in therapeutic advancement. Key factors include small dimensions, less toxicity, and better compatibility that aid in increasing its adoption rate.

Besides, gold nanocages coupled with the coating of the temperature-sensitive polymer are pertinent in a targeted delivery system that on contact with near-infrared radiations, discharge effectors. These are beneficial in checking for interaction with the drug and avails efficient control, thus driving adoption in the various delivery application of the drugs reaching from DNA to the cellular level, disease monitoring, imaging and diagnosis.

Application Insights

In-vivo imaging is projected to contribute for the largest share in terms of revenue due to growing adoption of nanoshells, for example, Au3Cu1 that claims to provide better contrast for blood vessels which can be used in vivo MR angiography.

Regional Insights

North America dominated with the largest revenue share owing to the existence of clear regulatory guidelines for therapeutic development. Furthermore, with the increasing collaboration between key stake holders including government agencies, lawmakers, health insurers, and pharmacy benefit managers, better outcome based products can be produced with a check on relevance in the market.

This region is also witnessing inter-country collaboration on the production and usage of nanotechnology based products. For example, Canada and the U.S. collaborated on the development of nanomaterials under the Regulatory Co-operation Council (RCC). As a result, the nanotechnology work plan of the region was made and the conference took place in Washington, DC in January 2014.

Asia Pacific is anticipated to exhibit the fastest growth over the forecast period. Factors responsible for the projected CAGR include growing investment in the development of nanoparticles coupled with a surge in the amount of clinical studies that can aid in determination of toxicity of these products.

Corporations across Asia, especially in China and India, are increasing their spending in research projects on the utilization of nanomolecules which is anticipated to support the progression of this market in Asia pacific region.

Competitive Insights

Key companies working for the development of metal and metal oxide nanoparticles include Nanobiotix, AstraZeneca, Pfizer Inc., nanoComposix, Merck KGaA, Nanospectra Biosciences, Immunolight LLC, Women’s Hospital and Brigham.

Pharma-biotech entities are engaged in R&D and are carrying out enormous capital investments. Product advancement in human therapeutics and rising demand for better outcomes by the treatment provided are anticipated to boost progress in the coming years.