Nanomedicine Market Analysis

Global Nanomedicine Market Overview

Nanomedicine Market size was valued at USD 252.97 billion in 2023. The Nanomedicine Market industry is projected to grow from USD 273.79 billion in 2024 to USD 819.84 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 12.48% during the forecast period (2024 - 2032).

The factors that are driving the growth of the global market are increasing incidences of various diseases across the globe and agreements associated with nanomedicine product developments.

 Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Nanomedicine Market Trends

Increasing incidences of cancer across the globe

Increasing incidences of diseases such as respiratory, cancer, neurological, and fungal infection are burgeoning market growth. For instance, as per the International Agency for Research on Cancer, there were cancer cases of nearly 9,826,539 in Asia, 4,471,422 in Europe, 2,673 174 in Northern America, 1,551,060 in Latin America and the Caribbean, 1,185,216 in Africa, and 269 088 in Oceania cancer cases of both genders in 2022. Moreover, there were 192,020 breast cancer cases, 143,759 lip, oral cavity, 127,526 cervix uteri, 81,748 lung, 70,637 oesophagus, 70,038 colorectum, and 727,588 cancer cases of others in India. Also, the Organization for Economic Cooperation and Development (OECD) stated that there were nearly 2.31 billion people at risk with malaria in Asia-Pacific in 2019, and malaria-endemic countries in the region were Papua New Guinea, the Philippines, the Solomon Islands, Pakistan, India, Nepal, Indonesia, Myanmar, the Lao PDR, Cambodia, Thailand, Bangladesh, China, Viet Nam, Bangladesh, the Republic of Korea, and Malaysia. Thus, increasing incidences of these above-mentioned diseases across the globe are boosting the demand for nanomedicine, fueling market growth.

Furthermore, agreement initiatives associated with nanomedicine across the globe are playing a significant role in fostering market growth. For instance, in January 2022, Pfizer, Inc. (US) entered into an agreement with Acuitas Therapeutics (Canada) for a lipid nanoparticle delivery system for use in mRNA vaccines and therapeutics. Moreover, in November 2022, Eli Lilly and Company (US) entered into a collaboration with Purdue University (US) to work with its partner for another five years on challenges including nanoparticle drug delivery. This agreement positioned Eli Lilly and Company to tap into Purdue’s expertise to improve the delivery of injectable medicines. Global agreement initiatives for nanomedicine are critical drivers of market growth, encouraging collaboration, innovation, and the progress of disruptive technologies. Strategic partnerships between industry leaders and research institutions, such as those formed by Pfizer, Inc., and Acuitas Therapeutics, as well as Eli Lilly and Company and Purdue University, highlight the importance of leveraging specialized expertise and resources to address key challenges in drug delivery and therapeutic development.

Therefore, the rising incidence of diseases such as cancer, respiratory, neurological, and fungal infections is significantly driving the growth of the nanomedicine market. With substantial cancer cases reported globally and widespread malaria risks, the demand for advanced nanomedicine solutions is surging. Additionally, strategic partnerships, such as those between Pfizer and Acuitas Therapeutics, and Eli Lilly and Purdue University, are crucial in advancing nanomedicine through innovation and collaboration. These agreements underscore the importance of leveraging specialized expertise to overcome challenges in drug delivery and therapeutic development, further propelling market growth.

Nanomedicine Market Segment Insights:

Nanomedicine Market Modality Insights

Based on modality, the Nanomedicine Market has been segmented into treatments and diagnostics. The treatments segment held the largest market share in 2023, and the diagnostics segment is the fastest-growing segment during the forecast period (2024 -2032). In the treatments, nanomedicine presents novel methods for regenerative medicine, targeted therapy, and drug delivery. Drugs are delivered to diseased cells directly using nanoparticles, reducing adverse effects and increasing treatment efficacy. Targeting tumour cells without damaging healthy tissue makes this precision treatment method especially important in oncology, where it can help patients with cancer get better outcomes.

Nanomedicine Market Application Insights

Based on application, the Nanomedicine Market has been segmented into drug delivery, diagnostic imaging, vaccines, regenerative medicine, and implants. The drug delivery segment held the largest market in 2023 and the regenerative medicine segment is the fastest growing segment during the forecast period. The use of nanoparticles to enhance bioavailability, stability, and targeting of therapeutic agents is a significant use of drug delivery systems. This precision, in particular in cancer treatment, minimizes side effects and improves the effectiveness of therapy. The increasing incidence of chronic diseases advances in nanotechnology, and increased demand for drug delivery systems based on targeting and control are driving the drug delivery segment during the forecast period.

FIGURE 2: NANOMEDICINE MARKET, BY APPLICATION, 2023 & 2032 (USD BILLION)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Nanomedicine Market Indication Insights

Based on indication, the Nanomedicine Market has been segmented into oncological diseases, infectious diseases, cardiovascular diseases, orthopedic diseases, neurological diseases, urological diseases, ophthalmological diseases, immunological diseases, and others. The oncological diseases segment held the largest market in 2023, and the neurological diseases segment is the fastest growing segment during the forecast period. In oncological diseases, nanomedicine provides improved imaging and tailored medication delivery, increasing the accuracy and efficacy of cancer treatments. Thus, the rising prevalence of cancer is anticipated to drive the market growth. For instance, according to World H health Organization (WHO) figures, cancer is the primary or second leading cause of death in 112 of 183 nations before the age of 70. Similarly, as per GLOBOCAN 2020, an estimated 19.3 million new cancer cases across the globe in 2020 and there will be 28.4 million cases of cancer worldwide in 2040. The COVID-19 pandemic has revealed the groundbreaking capabilities of diagnostics and vaccines based on nanoparticles in the fight against infectious diseases, especially in early diagnosis and prevention.  

Nanomedicine Market Molecule Type Insights

Based on molecule type, the Nanomedicine Market has been segmented into nanoparticles, nanoshells, nanotubes, and nanodevices. The nanoparticles segment held the largest market in 2023and the nanodevices segment is the fastest growing segment during the forecast period. Nanoparticles are further segmented into albumin particles, inorganic nanoparticles, lipid nanoparticle, liposomes, and others. Usually smaller than 100 nm in size, nanoparticles are useful for imaging, delivering drugs, and specific cell or tissue targeting. In addition, nanoshells are tiny balls made of a metallic shell layered thinly over a silica core. 

Nanomedicine Market Regional Insights

By region, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the largest market share of over 38.14% in 2023, owing to the increasing prevalence of cancer cases and the strong research and development infrastructure. For instance, In the United States in 2020, there were 1,603,844 new cancer cases reported and 602,347 cancer deaths. There were 403 new cancer cases reported for every 100,000 people, and 144 people died from cancer.

Further, the major countries studied are: The US, Canada, Brazil, Germany, France, the UK, Italy, Spain, China, India, Japan, South Korea, and Australia.

FIGURE 3: NANOMEDICINE MARKET, BY REGION, 2023 & 2032 (USD BILLION)

 Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The market for nanomedicine in Europe is expanding quickly due to developments in nanotechnology and its promise to revolutionize healthcare. This market includes the creation and use of materials and devices at the nanoscale for monitoring, therapy, and diagnosis. The market is expanding because to the increased demand for personalized treatment and the rising prevalence of chronic diseases. Europe is leading the way in nanomedicine advances thanks to its strong research and development spending and robust healthcare infrastructure. Targeted drug delivery methods, improved cancer therapeutics, and nanoscale imaging techniques are important areas of focus. The future of the market is also greatly influenced by regulatory frameworks and cooperative efforts between research institutions and industry participants, which could lead to important discoveries and better patient outcomes. Germany nanomedicine market held the largest market share in 2023, and the UK nanomedicine market is the fastest-growing market in the Europe region.

The rapidly changing Asia-Pacific nanomedicine market is a reflection of the growing interest and investment in cutting-edge healthcare technologies in the region. The market is expected to grow rapidly due to a number of factors, including the need for more healthcare, the prevalence of chronic illnesses rising, and notable advancements in nanotechnology research. With significant funding going toward nanomedicine innovations like targeted drug delivery systems, nanoscale diagnostic tools, and cutting-edge cancer treatments, nations like China, India, and Japan are setting the standard. Moreover, China nanomedicine market held the largest market share in 2023, and India nanomedicine market is the fastest growing market in the Asia-Pacific region.

Nanomedicine Market Key Market Players & Competitive Insights

The nanomedicine market is distinguished by the presence of numerous global and local players catering to nanomedicine products that are evolving at a rapid pace. Furthermore, the increasing incidences of various diseases across globe, growing product launches associated with nanomedicine, and the increasing geriatric population is further driving the growth of nanomedicine market during the forecast period. The major players have adopted a strategy of obtaining regulatory approval from government agencies for their products and signing contracts and agreements to broaden their reach and reduce operational costs. Furthermore, the growth of prominent industry players is dependent on various factors, such as market conditions, government support, and industry development. Key manufacturers in the nanomedicine market are focusing on developing nanomedicine drugs & devices. It is also projected that a rise in the investments for R&D will also boost the market's growth in the upcoming future.

Parvus Therapeutics Inc. is a privately held biopharmaceutical business that is developing Navacims, a platform technology based on foundational research published in 2016 to treat autoimmune illnesses. Parvus' objective is to transform the therapeutic paradigm to Navacim-directed immune regulation, avoiding the non-specific immune suppression associated with existing medications. Parvus' novel method has the potential to help millions of individuals with debilitating autoimmune illnesses and other chronic inflammatory ailments. Parvus is advancing a pipeline of patented therapeutic candidates for different autoimmune diseases from preclinical to clinical trials. The Parvus leadership team has extensive experience with effective medicine research, development, manufacturing, regulatory approval, and commercialization. For instance, in March 2024, Parvus and AbbVie (US) collaborated to develop IBD therapies based on the Parvus Navacim Platform Technology.

Key Companies in the Nanomedicine Market includes.

• Sanofi (France)


• Johnson & Johnson Services, Inc. (US)


• Parvus Therapeutics Inc. (US)


• Nanobiotix (France)


• Ascendia Pharmaceuticals (US)


• Bristol-Myers Squibb Company (US)


• Jazz Pharmaceuticals (Ireland)


• Cytimmune Sciences, Inc. (US)


• Nanospectra Biosciences (US)


• Pfizer, Inc. (US)

Pharmaceutical Excipients Industry Developments

June 2023: Ascendia Pharmaceuticals received Investigational New Drug (IND) approval from the Food & Drug Administration (FDA) approval for the novel nanoemulsion IV formulation for clopidogrel.

January 2022: Pfizer Inc. (US) and Acuitas Therapeutics (Canada) have announced the signing of a Development and Option agreement, under which Pfizer will have the non-exclusive right to license Acuitas' LNP technology for up to ten vaccine or therapeutic targets.

May 2021: Cytimmune and the United States Nanotechnology Characterization Laboratory (NCL) have signed a Material Transfer Agreement (MTA). The arrangement focuses on Cytimmune's innovative nanomedicine architecture, which distributes Interferon Gamma (IFN-y) and Tumor Necrosis Factor alpha (TNF alpha) on the same gold nanoparticle. Cytimmune will supply the NCL with freshly developed therapeutics for in vitro testing and characterisation.

Nanomedicine Market Segmentation:

Nanomedicine Market Modality Outlook

• Treatments


• Diagnostics

Nanomedicine Market Application Outlook

• Drug Delivery


• Diagnostic Imaging


• Vaccines


• Regenerative Medicine


• Implants

Nanomedicine Market Indication Outlook

• Oncological Diseases


• Infectious Diseases


• Cardiovascular Diseases


• Orthopedic Diseases


• Neurological Diseases


• Urological Diseases


• Ophthalmological Diseases


• Immunological Diseases


• Others

Nanomedicine Market Molecule Type Outlook

• Nanoparticles
  
  
  
  • Albumin Particles
  
  
  • Inorganic Nanoparticles
  
  
  • Lipid Nanoparticle
  
  
  • Liposomes
  
  
  • Others
  
  
  
  


• Nanoshells


• Nanotubes


• Nanodevices

Nanomedicine Market Regional Outlook

• 
  

  North America

  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• 
  

  Europe

  
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• 
  

  Asia-Pacific

  
  
  
  
  • China
  
  
  • India
  
  
  • Japan
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• 
  

  Rest of the World

  
  
  
  
  • 
    

    Middle East

    
    
  
  
  • 
    

    Africa

    
    
  
  
  • 
    

    Latin America