Nanotechnology Drug Delivery Market to Reach US$ 118,527.2 Mn by 2023, Says TMR

Albany,NY, November 8, 2017 (Newswire.com) - The requirement of vast financial resources as well as highly skilled human resources to progress in the nascent field of nanotechnology drug delivery has rendered the vendor landscape of the global nanotechnology drug delivery market highly consolidated, states Transparency Market Research in a recent report. While only a handful of companies account for the dominant share of the market in the present scenario, the dynamics is steadily changing with the entry of a number of new small-scale independent research-oriented vendors in the market.

A number of leading companies from the pharmaceutical sector are also investing in research and development of nanotechnology-based drug delivery mechanisms. As such, the market is expected to become increasingly competitive in the next few years, and will also likely be more productive owing to the ensuing competition among companies wanting to establish their stronghold on the market. Some of the leading companies in the global nanotechnology drug delivery market are Teva Pharmaceutical Industries Ltd., Amgen, Inc., Johnson & Johnson, Novartis AG, and AbbVie, Inc.

Transparency Market Research envisages that the global market for nanotechnology drug delivery will expand at a promising 12.5% CAGR from 2015 to 2023, rising to a revenue opportunity of US$11.9 bn in 2023 from US$4.1 bn in 2014.

North America to Remain Leading Contributor of Revenue to Global Market

Of the key applications of nanotechnology drug delivery, the segment of oncology accounted for the dominant share in the market in terms of revenue generation in 2014. The mounting pool of cancer patients across the globe and the increased demand for safer alternatives to chemotherapy will continue to boost the need for nanotechnology drug delivery solutions for cancer over the report's forecast period as well.

Geographically, the market in North America accounted for the dominant share in the global nanotechnology drug delivery market in 2014. The presence of a number of financially powerful pharmaceutical companies, a conducive environment for research and development activities, and the rising prevalence of chronic diseases are some factors attributed to North America's leadership position in the market.

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Alarming Rise in Prevalence of Chronic Conditions Globally to Fuel Market Growth

One of the key factors to have pushed research and development activities in the field of nanotechnology drug delivery is the lack of effective treatments for a number of chronic diseases, which are rising at an alarming pace across the globe. Conditions such as diabetes, a variety of cancers, and cardiovascular diseases are increasingly putting a huge socio-economic burden on the world and demand for effective therapeutics to deal with these conditions has incessantly increased over the years with the rising pool of patients. The rising R&D activities aimed at the development of nano medicines and imaging and diagnostics agents, which could enable the development of more sophisticated and result-oriented therapeutics and diagnostics interventions will continue to fuel the market in the years to come.

Browse Research Report Press Release: https://www.transparencymarketresearch.com/pressrelease/nanotechnology-drug-delivery.htm

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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Source: Transparency Market Research