WELLESLEY, Mass., Oct. 11, 2017 (GLOBE NEWSWIRE) — The use of nanotechnology in medical applications has the potential to revolutionize the way that diseases and injuries are treated. The nanomedicine market is forecast to reach $293.1 billion by 2022. In a new report, BCC Research examines the prospects for nanopharmaceuticals and nanodiagnostics.
Nano-enabled medical products began to appear on the market more than a decade ago, with some becoming best sellers in their therapeutic categories. The principal areas in which nanomedical products have made an impact are cancer, CNS disorders, cardiovascular disease and infection control. The U.S. market is the largest in the global nanomedicine market and is set to continue to dominate the world marketplace. However, other national markets are expected to increase their shares over the next five years, according to the report Nanotechnology in Medical Applications: The Global Market.
It is estimated that the market for nano-enabled drug delivery products has exceeded $20 billion. Molecular diagnostics is another major area of opportunity for nanotechnology in the immediate future.
- Pharmaceutical and specialist companies are leading the research effort into medical applications of nanotechnology.
- Whereas current medical nanotechnology applications focus on single nanoparticles and simple structures, future possibilities involve combining such single elements into structures that can perform more complex tasks.
- Although Europe is at the forefront of nanomedicine research, the United States leads in the number of patent filings, indicating a more advanced commercialization status.
“The medical potential of nanotechnology is vast,” said Paul Evers, BCC Research analyst and author of this report. “Already on the market in the U.S. and other countries are pharmaceutical products whose efficacy and safety has been enhanced by nanotechnology and some of which would not exist at all without nanotechnology.”
Risks of Nanotechnology
A leading concern about nanotechnology is the possibility of environmental damage. Nanoparticles could easily become airborne or contaminate aquatic environments, and nanoparticles could accumulate in organisms or damage ecosystems. Little is known about how nanoparticles affect the environment or their impact on living systems. There is a possibility that nanoparticles in drinking water could be dangerous to humans or other animals.
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About BCC Research
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