In a recently published report, Nanomedicine Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Nanomedicine Market products.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Nanomedicine Market is valued at approximately USD 160 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 12.6% over the forecast period 2020-2027. Nanomedicine is one of the most significant applications of nanotechnology used in the treatment, diagnosis, control, and monitoring of biological systems. Nanomedicine utilizes nanoscale manipulation of materials to enhance medicine delivery. Thus, nanomedicine has enabled the treatment alongside various diseases, such as cancer, cardiovascular diseases, and so on. Nanomedicine is the most promising mode of treatment of cancer. This expanding field of medical research can be utilized to discover improved personalized treatment for cancer in the present scenario. With the benefit of the properties of issue at nanoscale, nanomedicine pledges to create innovative drugs with larger efficacy and reduced side-effects than regular therapies. Thus, the surge in prevalence of cancer may act as a major driving factor for the growth of the market all over the world.
According to the National Cancer Institute (NIH), the prevalence of cancer has a major impact on society in the world and across the United States. As of January 2019, around 16.9 million cancer survivors were reported in the United States and is projected to increase to almost 22.2 million by the year 2030. Also, in 2020, an estimated 1,806,590 new cases of cancer were found and will be diagnosed in the United States. Furthermore, the rise in government approvals for the products developed by the manufacturers, along with the increased emergence of newer technologies for drug delivery are the few factors responsible for the high CAGR of the market during the forecast period. For instance, in February 2017, the Celgene International Sàrl granted approval for its REVLIMID (lenalidomide) from the European Commission, as monotherapy for patient’s treatment with multiple myeloma. This, in turn, is expected to strengthen the market growth all over the world. However, the high cost of nanomedicine, coupled with strict government norms for product approval are the few major factors inhibiting the market growth over the forecast period of 2020-2027.
The regional analysis of the global Nanomedicine market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rise in government funding for the nanoscale technology and nanomedicine, and the presence of a significant number of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in prevalence of chronic diseases such as cancer, along with the increasing number of venture capital investors in developing countries, such as China and India, would create lucrative growth prospects for the Nanomedicine market across the Asia-Pacific region.
Major market player included in this report are:
Johnson & Johnson
Merck & Co., Inc.
Leadiant Biosciences, Inc.
Teva Pharmaceutical Industries Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
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Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Nanomedicine Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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