Particles between 1 and 100 nanometers (nm) in size known as nanoparticles. An individual nanoparticle molecule behaves as a complete unit in terms of its property and transportation. Rapidly increasing public awareness for nanotechnology and introduction of new technologies will have many beneficial consequences. Moreover, increasing applications of nanotechnology in drug development and stringent guidelines for developing improved medical products are some of the prime factors which is expected to witness significant growth over the forecasted period. Furthermore, huge capital investment and high cost of nanoparticle analysis instrument is one of the key restraint for the growth of nanoparticle market. Due to its wide applications in healthcare, biomedical, electronics and among others the nanoparticle is currently a new area of research among many scientist. Rising government spending on pharmaceuticals and bio technology research and development and increasing focus on nanotechnology research also expected to experience significant growth. North America dominated the global nanoparticles market due to increasing chronic diseases such as diabetes, cardiovascular and cancer. Moreover, Europe is expected to witness the highest growth during the forecasted period, due to rapid research and development for nanoparticles. However, due to rampant economic growth of China and India, Asia Pacific is also expected to witness decent growth during the forecasted period. Furthermore, India is also an emerging hub for pharmaceuticals research and development.
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Nanoparticles Market Taxonomy
On the basis of technology, the global market is classified into:
- Polymeric nanoparticles
- Polymer conjugated drugs
- Inorganic nanoparticles
On the basis of end user, the global market is classified into:
- Pharmaceuticals industry
- Biochemical industry
- Research institutions
Nanoparticles Market Outlook – Surge in Drug Development in Pharmaceuticals Industry Augmenting Market Growth
Expansion of medical diagnostic industry and wide application of nanotechnology in healthcare sector such as neurology, cardiology and anti-infective is estimated to have a decent growth for nanoparticles market in the forecast period. Depending upon preparation methods nanoparticles, nanocapsules or nanospheres can be obtained. A long circulating particle made up of Biodegradable polymeric nanoparticles with hydrophilic polymer coating of poly ethylene glycol (PEG), used as a powerful drug delivery device. Due to its ability to deliver peptides, proteins and genes, it is also used as a DNA carrier in gene therapy. Numerous advantages for nanoparticles in drug delivery system is expected to Spector enormous growth during the forecasted period. Moreover, growing public awareness, improved technology and increase in chronic diseases escalate the global nanoparticles industry in North America. Emerging economy of Asia Pacific, such as China and India is expected to witness significant growth over the forecasted period.
Nanoparticles Market Challenges – Huge Capital Investment needed in Research and Development
Huge capital investment for research and development of new product and technology. Moreover, high cost of nanoparticles analysis instruments is expected to be one of the key restraints for global nanoparticles market.
Nanoparticles Market – Regulatory Scenario:
- August, 2015, U.S. Food and Drug Administration (FDA), issued guidance to address various issues related to the use of nanotechnology in food ingredients intended for use in food for animals.
- June, 2014, U.S. Food and Drug Administration (FDA), issued three guidelines related to the use of nanotechnology in regulated products, including cosmetics and food substances.
Some of the key players in the market includes Abraxis Biosciences, Inc., Novartis International AG, Gilead Sciences, Inc., Johnson & Johnson, Sigma-Tau Pharmaceuticals, Inc. Amgen, Inc., and Nano Interface Technology, Inc., Malvern Instruments Ltd., Horiba Ltd., Beckman Coulter, Shimadzu Corporation, Agilent Technology Inc, Hitachi Ltd., Wyatt Technology, among others.
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