Nano Biotechnology Market Overview
According to MRFR analysis, the global nano biotechnology market is expected to register a CAGR of~10.0% from 2021 to 2027 and hold a value of over ~USD 9,500million in2027.
The global nano biotechnology market is driven by several factors, suchas increasing investment in nano biotechnology research and high demand for treatment of critical diseases. Nanobiotechnology is the interface of nanotechnology and biotechnology that includes special physicochemical and biological properties of nanostructures and their applications in numerous fields such as medicine and agriculture. Nanobiotechnology is one of the most promising technologies in the 21st century. It plays a significant role in developing and implementing many useful tools in the study of life. Its application in medicine involves disease diagnosis, target specific drug delivery and molecular imaging. It used in agriculture and food sectorsand is used in nanofertilizers, nanoinsectisides, nanopestisides, and othersuch chemicals.
The industry players are focusing on the expansion of their distribution network and supply chain to gain more penetration in the global nano biotechnology market forecast. The key players are involved in new product launches, strategic agreements, and joint ventures to augment their market positions. For instance, in May 2021, Nanobiotix (France) formed a partnership with LianBio (China) to develop and commercialize potential first-in-class radioenhancer nbtxr3 across tumor types and therapeutic combinations in China and other Asian markets.
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Nano Biotechnology Market Segmentation
The global nano biotechnology market has been segmented into application and therapeutics.
By application, the market has been segmented into pharmaceuticals, medical devices, medical research, and food and agriculture.The pharmaceutical segment heldthelargest share of the market in 2020, due to high investments in R&D activities for the development of innovative drugs for treatment of chronic diseases.
Based on therapeutics, the global nano biotechnology market has been classified asdental therapies, cardiac therapies, orthopedic therapies, and others. The cardiac therapies segment held the largest segment share in 2020, due to the risingprevalence of cardiovascular disorders across the globe.
Nano Biotechnology Market Regional Analysis
North America is likely to dominate the nano biotechnology market, owing to high investment in the R&D projects, new product development, government initiatives for strengthening healthcare system, and increasing demand from end users. The pharmaceutical companies in the US are investing heavily in R&D activities for medicines and medical devices. Rising prevalence of chronic diseases such as cardiovascular diseases has led to a huge demand for innovative treatment options for such diseases. This has triggered the companies to invest in R&D activities to develop new advanced products.
Europeis likely to account a significant share in the nano biotechnology market due to high demand for technological advanced products and established R&D facilities across the region. In addition, countries such as Germany, Sweden, the UK, France, and Switzerland are also investing heavily in R&D activities for nanobiotechnology.
Asia-Pacific is anticipated to be the fastest-growing regional market during the forecast period due to increasing investment in healthcare infrastructure andrising prevalence of chronic diseases such as cardiovascular and neurological diseases. In addition, increasing government funding for strengthening healthcare system is creating opportunities for the industry players.
Furthermore, the growth of the market in the Rest of the World is attributed to the technological advancements in medical science and the increasing funding for development of healthcare infrastructutre throughout the region..
Nano Biotechnology Market Players
· Globus Medical, Inc. (U.S.)
· Depuy Synthes Inc. (Johnson & Johnson) (U.S.)
· Smith & Nephew plc. (UK)
· NuVasive, Inc. (U.S.)
· Stryker Corporation (U.S.)
· Integra LifeSciences Holdings Corporation (U.S.)
· Zimmer Biomet Holdings, Inc. (U.S.)
· Medtronic, plc (Ireland)
· Wright Medical Group N.V. (Netherlands)
· The Orthopedic Implant Company (U.S.)
· Aesculap Implant Systems (U.S.)
· Conmed Corporation (U.S.)
· BioTek Instruments, Inc. (U.S.)
· Arthrocare Corporation (U.S.)
among others are some key companies in the global Nano Biotechnology that are listed by MRFR for market research.
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